by JustForex
Yesterday, the EUR/USD pair was traded in an uptrend and showed +0.28%. 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. After renewing the annual maximum, the price demonstrates positive dynamics. It is best to look for buy entry points when the price rolls back to the trend line or to the level of 1.2100. With the opening of long positions, quotes can reach the level of 1.2173. If the price is able to break through and fix above the level of 1.2173, quotes can reach the level of 1.2200. It is also worth noting that divergence is observed on the H1 timeframe, which may signal the beginning of a pair correction.
Alternative scenario: if the price fixes below 1.2100 on the H1 timeframe and below MA 200 on H1, the currency pair may decline to the level of 1.2039.
Yesterday, the GBP/USD currency pair was traded in an uptrend and showed +0.62%. 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 broke through the level of 1.3439, today we observe a correction and a test of this level. Buying an asset should be considered after the price fixes above 1.3439. With the opening of long positions, quotes can go to the level of 1.3500. 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 1.3439, then the asset may fall to 1.3287.
Yesterday, the USD/JPY currency pair was traded in a downtrend and closed the day with a result of -0.52%. On the hourly chart, the currency pair has fixed below 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 entry points to sell the asset.
The main scenario: consider buying an asset. It is best to look for entry points when the price breaks through the level 103.65 and fixes below it. With the opening of long positions, quotes can go to the level of 103.18.
An alternative scenario assumes consolidation above the level of 104.22 with a subsequent rise to the level of 104.75.
Yesterday, the USD/CAD currency pair was traded in a downtrend and closed with the result of -0.42%. 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. It is best to look for a sell entry point when the price rolls back to the trend line or to the resistance level of 1.2928.
Alternative scenario: if the price can 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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