by JustForex
Yesterday, the EUR/USD pair was traded in an uptrend and showed +0.41%. 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 positive zone at H1. 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 to buy entry points. Yesterday, the price broke through the strong level of 1.2100 and fixed above it. It is best to look for buy entry points when the price rolls back to the trend line or to the level of 1.2039. With the opening of long positions, quotes can reach the level of 1.2200. It is also worth noting that divergence is observed on the H4 timeframe, which may signal the beginning of a pair correction.
Alternative scenario: if the price fixes below the level of 1.2039 on the H1 timeframe and below MA 200 on the H1, the currency pair may decline to the level of 1.2000.
Yesterday, the GBP/USD currency pair was traded in a downtrend and showed -0.36%. 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 on H1. An uptrend is maintained. 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. Yesterday, the currency pair rolled back to the level of 1.3315, after which it demonstrated growth again. Technically, the indicators signal the continuation of the uptrend movement. Buying an asset should be considered after the price breaks through and fixes above the level of 1.3398. With the opening of long positions, quotes can go to the level of 1.3439. 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 1.3263.
Yesterday, the USD/JPY currency pair was trading in an uptrend and closed the day with a result of +0.08%. 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 negative zone. Based on the above, you can try to look for buy entry points.
The main scenario: consider buying an asset. It is best to look for entry points when the price rolls back to the level of 104.22 and when a signal is generated on lower timeframes. With the opening of long positions, quotes can go to the level of 104.75.
An alternative scenario assumes consolidation below the level of 104.22 with a subsequent fall to the level of 103.84.
Yesterday, the USD/CAD pair was traded in the range of 1.2915 – 1.2950 and closed with the result of -0.12%. 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.
The main scenario: we recommend considering the sale of an asset. The price managed to fix below the level of 1.2928. It is best to look for a sell entry point when the price breaks through and fixes below the level of 1.2910. It is worth paying attention to the divergence on H1, which can tell us about the beginning of the pair correction.
Alternative scenario: if the price is able to break through the trend line and fix above the level of 1.2928, you can consider a buy position to the level of 1.2985.
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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