by JustForex
Yesterday, the EUR/USD currency pair was traded in the range of 1.1815-1.1880 and showed a positive trend of 0.15%. This morning the pair is growing. An uptrend is observed on the chart, which indicates the predominance of purchases on this asset. On the hourly timeframe, the price is being traded above the moving average MA 200. On the H4 timeframe, the situation is similar. The MACD indicator is in the positive zone. Based on the above, it is worth considering buy positions while the price is above MA200 on the H1 timeframe.
The main scenario for trading EUR/USD: look for buy entry points. If the price breaks through and fixes above 1.1890, one should consider purchases. After breaking through the 1.1890 mark, quotes may go to the level of 1.1920.
Alternative scenario: if the price fixes below 1.1815 on the H1 timeframe, the currency pair is likely to decline to 1.1758. There is also a possibility of price manipulation at the 1.1890 level. In case of a false breakout of this level, the price may fall to the level of 1.1815.
Yesterday, the GBP/USD currency pair was traded in the range of 1.320-1.3270 and closed the day with a result of -0.08%. On the hourly chart, GBP/USD is being traded above the moving average MA (200) H1. The situation is similar on the four-hour chart. The MACD indicator is in the positive zone. Based on the above, it is necessary to look for buy entry points while the currency pair remains above MA 200 H1.
The main scenario: look for buy entry points. We recommend considering purchases on correction on lower timeframes. The movement is tending to the level of 1.3312. If GBP/USD quotes fix above the level of 1.3312, the price may go to the level of 1.3500.
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Alternative scenario: if the price fixes below the moving average MA 200 on H1, then the asset may fall to $1.3165.
Yesterday, the USD/JPY currency pair was traded in the range of 103.70-104.20 and closed the day with a result of -0.08%. Today the currency pair is being traded at yesterday’s close. On the hourly chart, the USD/JPY currency pair has fixed below the MA line (200). On the four-hour chart, the situation is similar. The MACD indicator is in the negative zone. Based on the above, one should probably consider sales while the pair remains below MA 200 on H1.
The main scenario for trading USD/JPY is considering selling an asset. If the price breaks the 103.65 level and fixes below it, then the currency pair may move to 103.18.
The alternative scenario assumes consolidation above 104.21, with further growth to 105.12 (November 16 high).
Yesterday, the USD/CAD currency pair closed with a result of -0.07%. Today the pair is being traded at yesterday’s close. On the H1 timeframe, USD/CAD is below the moving average MA 200. On the four-hour chart, the price is below the moving average. At the moment, on the currency pair, there is a prolonged consolidation in the range of 1.3060-1.3110. If the price breaks through and fixes below the trading channel, we may consider sales of the asset.
The main scenario: if the price breaks through and fixes below the level of 1.3060, it is worth considering selling with a target up to 1.3033.
Alternative scenario: if the price breaks through the level of 1.3117 and fixes above the MA 200 on H1, one should consider a buy position to the level of 1.3170.
by JustForex
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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