The Analytical Overview of the Main Currency Pairs on 2020.11.27

The EUR/USD currency pair

• Prev Open: 1.1915
• Prev Close: 1.1912
• % chg. over the last day: +0%

Yesterday, the EUR/USD pair was traded in a downtrend and showed 0%. 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 only buy positions while the price is above MA200 on H1.

• Support levels: 1.1905, 1.1890, 1.1881, 1.1848, 1.1815
• Resistance levels: 1.1939, 1.1963, 1.2000

The main scenario for trading EUR/USD is looking for buy entry points. When the price rolls back to the trend line on lower timeframes and a signal is formed, one should try to enter purchases. The target is yesterday’s high at 1.1939. If the price breaks the level of 1.1939 and fixes above it, quotes may move to the level of 1.1963.

Alternative scenario: if the price fixes below the level of 1.1905 on the H1 timeframe and below the MA200 on the H1, the currency pair is likely to decline to the level of 1.1881.

• – Thanksgiving Day in the US;

The GBP/USD currency pair

• Prev Open: 1.3375
• Prev Close: 1.3355
• % chg. over the last day: -0.14%

Yesterday, the GBP/USD currency pair was traded in a downtrend and showed -0.14%. 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. There is still an uptrend. Based on the above, it is necessary to look for buy entry points while the pair remains above MA 200 H1.

• Support levels: 1.3315, 1.3263, 1.3195, 1.3105
• Resistance levels: 1.3398, 1.3482

The main scenario: look for buy entry points. For several days the price has been in flat, the borders of which are 1.3315-1.3398. If the price breaks through the level of 1.3398 and fixes above it, the quotes may move to the level of 1.3482. It is also worth noting that divergence is drawn on the MACD on the H4 timeframe. This may signal the beginning of a pair correction.

Alternative scenario: if the price fixes below the level of 1.3315, then the asset may fall to $1.3195.

• – Thanksgiving Day in the US;

The USD/JPY currency pair

• Prev Open: 104.44
• Prev Close: 104.24
• % chg. over the last day: -0.19%

Yesterday, the USD/JPY currency pair broke through the strong support level of 104.22 and closed the day with -0.19%. On the hourly chart, the currency pair has fixed below the moving average MA (200). On the four-hour chart, the price is below MA200. The MACD indicator on H1 is in the negative zone. Based on the above, one should look for sell entry points on corrections on lower timeframes.

• Support levels: 103.65, 103.18
• Resistance levels: 104.22, 104.75, 105.12

The main scenario: consider selling an asset. It is better to look for entry points on price corrections to the trend line and to 104.22. The price may fall to the level of 103.65

An alternative scenario assumes consolidation above the level of 104.22 with a further rise to the level of 104.75.

• – Thanksgiving Day in the US;

The USD/CAD currency pair

• Prev Open: 1.3003
• Prev Close: 1.3015
• % chg. over the last day: +0.09%

Yesterday, the USD/CAD currency pair was traded in an uptrend and closed with +0.09%. 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. Based on the above, it is worth considering selling an asset. It is also worth paying attention to the divergence on H1.

• Support levels: 1.2985, 1.2928
• Resistance levels: 1.3028, 1.3091, 1.3117, 1.3172

The main scenario: we recommend considering the sale of an asset. If the price breaks through and fixes below the level of 1.2985, it is better to look for a sell entry point. The target is 1.2928.

Alternative scenario: if the price is able to break through the level of 1.3028 and consolidate above the 200 moving average of the period on H1, we can consider a buy position to the level of 1.3091.