The Analytical Overview of the Main Currency Pairs on 2021.04.15

The EUR/USD currency pair

• Prev Open: 1.1948
• Prev Close: 1.1979
• % chg. over the last day: +0.26%

The euro continued to rise against the US dollar amid growing yields on German Bonds. In the absence of important macroeconomic news, this factor is now playing a major role.

• Support levels: 1.1836, 1.1704
• Resistance levels: 1.1990, 1.2113

The main scenario for EUR/USD is sideways trading. The fact that the price has reached the first resistance level without breaking it may be the reason for the growth to stop. A divergence formed on the MACD, and the ADX moved to a decline, indicating a decrease in bullish potential.

Alternative scenario: if the price gains a foothold above the level of 1.1990, the pair may continue to rise. A breakout of 1.1925 will indicate the beginning of a southern correction.

• – Philadelphia Fed Manufacturing Index (Apr) at 15:30 (GMT+3);
• – US Retail Sales (m/m) (Mar) at 15:30 (GMT+3).

The GBP/USD currency pair

• Prev Open: 1.3747
• Prev Close: 1.3775
• % chg. over the last day: +0.20%

The sterling stopped growing on Wednesday, leaving a high shadow at the top. Despite positive industrial production data, the currency is showing weakness against the euro and the dollar. The profitability of the British Gilts compared to their American counterparts indicates a possible early resumption of the fall.

• Support levels: 1.3705, 1.3680
• Resistance levels: 1.3848, 1.3929

The main scenario for GBP/USD is sideways trading. The pair came close to the first support level and rebounded. But ADX is declining, and MACD is near zero. The price is slightly above the moving averages.

Alternative scenario: if the pair consolidates below 1.3735, the pound may move to decline to 1.3680. A break at 1.3808 may indicate renewed growth.

The USD/JPY currency pair

• Prev Open: 109.06
• Prev Close: 108.92
• % chg. over the last day: -0.13%

On Wednesday, the dollar-yen pair showed a decrease in volatility, as trading volumes on stock exchanges continued to fall, and the dollar index slowed down. Government bond yields stabilized at the same level, which stopped the fall.

• Support levels: 108.35, 107.08
• Resistance levels: 110.32, 110.98

The main scenario is selling. The price is still fixed below the moving averages. The MACD is below zero. A divergence formed on the chart, indicating a halt in the decline. The ADX shows a fall in the bearish trend potential. A combination of factors shows a neutral signal.

An alternative scenario implies the price fixing above 109.30. In this case, the pair may resume growth to 110.32.

• – Philadelphia Fed Manufacturing Index (Apr) at 15:30 (GMT+3);
• – US Retail Sales (m/m) (Mar) at 15:30 (GMT+3).

The USD/CAD currency pair

• Prev Open: 1.2530
• Prev Close: 1.2517
• % chg. over the last day: -0.10%

The pair continues to trade in a narrow sideways range but is under strong pressure, as WTI oil prices have risen above $63 per barrel over the last 24 hours. The dollar index decline puts additional pressure on the pair.

• Support levels: 1.2501, 2466
• Resistance levels: 1.2629, 1.2646

The main scenario is cautious selling. The specifications are mixed. The price is below the moving averages, but the ADX does not react to impulses. The MACD is below zero but declines slightly. By the combination of factors, the southern signal is weak. A rebound from the support level is possible.

Alternative scenario: if the price consolidates below 1.2501, the pair may continue to decline to 1.2466. A breakout of 1.2551 will indicate a raise to 1.2626.