by JustForex
Yesterday, the EUR/USD pair was traded in a downtrend and showed -0.29%. 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 currently in the negative zone on H1 and in the positive one on H4. Based on the above, it is worth considering only buy positions while the price is above MA 200 on H1.
The main scenario for trading EUR/USD is looking for buy entry points. The best thing is to look for buy entry points when the price rolls back to the trend line and to the level of 1.1939. With the opening of long positions, quotes can go to the level of 1.2000.
Alternative scenario: if the price fixes below the level of 1.1939 on the H1 timeframe and below MA 200 on H1, it is likely that the currency pair may decline to 1.1905.
Yesterday, the GBP/USD currency pair was traded in the range of 1.3300 – 1.3386 and showed 0%. 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 at H1. There is still an uptrend. Based on the above, it’s probably worth holding to bull trading and as long as the currency pair remains above MA 200 H1, it’s necessary to look for buy entry points.
The main scenario: look for buy entry points. The pair is now in the consolidation, the borders of which are 1.3300 – 1.3400. Buying an asset can be considered when the price rolls back to the trend line and a buy signal is generated on lower timeframes. With the opening of long positions, quotes can go to the level of 1.3398. If the price fixes above the level of 1.3398, the quotes may go to the level of 1.3482. It is also worth noting that divergence is observed on the MACD on the H4 timeframe. This may signal the beginning of a pair correction.
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Alternative scenario: if the price fixes below the level of 1.3315, then the asset may fall to 1.3195.
Yesterday, the USD/JPY currency pair managed to fix above the level of 104.22 and closed the day with a result of +0.23%. On the hourly chart, the currency pair has fixed above the moving average MA 200. On the four-hour chart, the price is below MA 200. MACD indicator on H1 is in the positive zone. Based on the above, you can try to look for buy entry points on corrections on lower timeframes. It is worth keeping track of how the price will test MA200 on the H4 timeframe.
The main scenario: consider selling an asset. It is best to look for entry points on price corrections on lower timeframes. The potential move is to the level of 104.75.
An alternative scenario assumes consolidation below 104.22 with a further fall to 103.84.
Yesterday, the USD/CAD currency pair was traded in an uptrend and closed with a result of + 0.11%. 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.
The main scenario: we recommend considering the sale of an asset. If the price breaks through and fixes below the level of 1.2928, it is better to look for a sell entry point.
Alternative scenario: if the price can break through the level of 1.3010 and fix above the 200 moving average of the period on H1, you can consider a buy position to the level of 1.3091.
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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