by JustForex
Yesterday the EUR/USD pair was trading in a downtrend and closed the day with -0.11%. On the H1 and the H4 timeframes, the price is above the moving average. The MACD on the H4 is in the positive zone. Buying is the priority.
Yesterday, the currency pair tested the 1.1990 support level and showed an uptrend on lower timeframes. In the future, we recommend looking for entry points for buying after the price breaks out and gains a foothold above the level of 1.2080.
Alternative scenario: after the price breaks through the 1.1990 level, the price may go to the 1.1927 support level.
Yesterday, the GBP/USD currency pair was trading in a downtrend and closed the day with a result of -0.59%. On the hourly chart, GBP/USD is trading above the 200-day moving average. The situation is similar on the four-hour chart. At this point, it is best to consider buying the instrument.
Yesterday, the currency pair tested the moving averages on the H1 and H4 timeframes. We assume that the pair will continue to grow. It is best to consider buying entry points after the price breaks out and fixes above the level of 1.3918.
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Alternative scenario: after the price breaks down and consolidates below the level of 1.3807, short positions to 1.3750 can be considered.
Yesterday, the USD/JPY pair traded in a narrow range, showing a change of -0.08%. On the H1 and H4 timeframes, the price is below the moving average, which tells us about the continuation of the downward movement. It is best to look for entry points to sell.
At the moment, we are considering selling the instrument. The main scenario is looking for a sell entry point after price correction to 108.60 or after breaking through the level of 107.87. It is also worth paying attention to the MACD divergence, which may signal a trend reversal.
Alternative scenario: if the price breaks through and consolidates above the level of 108.60, it is worth considering buying to the level of 109.08.
Yesterday, the USD/CAD pair was trading in a narrow range of 1.2475 – 1.2515, showing a +0.07% change. At the moment, the currency pair is below the moving average. The MACD indicator is in the negative zone. It is worth considering selling the instrument.
At the moment, we are considering selling the instrument. The entry point should be looked for after the price breaks down and consolidates below the level of 1.2475.
Alternative scenario: after breaking out and consolidating above the level of 1.2531, you can 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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