by JustForex
On Friday, the EUR/USD pair traded in the range of 1.1950 – 1.1995 and closed the day with a result of +0.16%. On the H1 and the H4 timeframes, the price is above the moving average. The MACD is in the positive zone. The uptrend persists, which tells us that it is better to stick with ideas towards buying.
As for EUR/USD, the upward movement remains. We recommend looking for entry points to buy. It is best to look for entry points after the price corrects to the support level of 1.1990.
Alternative scenario: after the price breaks through and consolidates below the level of 1.1990, the price may go to the support level of 1.1927.
On Friday, the GBP/USD currency pair was trading in an uptrend and closed the day with +0.41%. On the hourly chart, the pair is trading above the 200-day moving average. The situation is similar on the four-hour chart. The MACD indicator is in the positive zone on the H1. So it is worth buying the instrument.
At the moment, the price is above the moving average, which tells us about an uptrend. The MACD is also in positive territory. Only buying should be considered. It is best to look for entry points on the price correction to the 1.3800 level.
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Alternative scenario: after the price breaks through and consolidates below the level of 1.3800, short positions to the level of 1.3750 should be considered.
On Friday, the USD/JPY pair traded in a narrow range of 108.60 – 108.95 and showed a change of +0.06%. On the H1 and H4 timeframes, the price is below the moving average, which tells us about the continuation of the downward movement. For now, it is better to stick to the bearish trade.
While the price is below the moving average on the H1 timeframe, it is worth looking for entry points to sell the instrument. The main scenario is the search for a sell entry point after price correction to the level of 108.60.
Alternative scenario: if the price breaks out and consolidates above the level of 109.08, it is worth buying to 109.75.
On Friday, the USD/CAD currency pair was trading in a downtrend and showed a 0.25% drop. At the moment, the currency pair is below the moving average, and the MACD indicator is in the negative zone. So it is worth selling the instrument.
At this point, it is best to consider selling. The entry point should be sought after the price breaks down and consolidates below the level of 1.2477.
Alternative scenario: after breaking out and consolidating above the level of 1.2560, one should open buy deals to 1.2628.
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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