Fri, Jan 22, 2021 @ 05:19 GMT
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The Analytical Overview Of The Main Currency Pairs

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.1871
Prev Close: 1.1855
% chg. over the last day: -0.13%

On Friday, the EUR/USD currency pair was traded in the range of 1.1850-1.1890 and showed a negative trend of 0.13%. The currency pair is growing this morning. 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 in the positive zone. Based on the above, it is worth considering buy positions while the price is above MA200 on H1.

Trading recommendations

Support levels: 1.1848, 1.1815, 1.1745
Resistance levels: 1.1890, 1.1920

The main scenario for EUR/USD trading is looking for buy entry points. If the price breaks through and fixes above 1.1890, it is better to consider purchases. After breaking through the 1.1890 mark, quotes may go to the level of 1.1920.

Alternative scenario: if the price fixes below the level of 1.1848 on the H1 timeframe, the currency pair is likely to decline to 1.1815.

News feed for 2020.11.23:

German manufacturing PMI at 10:30 (GMT+2)

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.3262
Prev Close: 1.3288
% chg. over the last day: +0.19%

On Friday, the GBP/USD currency pair was traded in the range of 1.3250-1.3290 and closed the day with +0.19%. 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. Based on the above, it is necessary to look for buy entry points while the pair remains above MA 200 H1.

Trading recommendations

Support levels: 1.3314, 1.3195, 1.3105
Resistance levels: 1.3482

The main scenario: look for buy entry points. If the price fixes above the level of 1.3314, one should consider purchases. Quotes may move to the level of 1.3482. It should also be noted that divergence is drawn on the MACD on the H4 timeframe. This may signal the beginning of a pair correction. Price may test the trend line.

Alternative scenario: if the price fixes below the moving average MA 200 on H1, the asset may fall to $1.3105.

 

News feed for 2020.11.23:

UK manufacturing PMI at 11.30 (GMT+2);

UK services PMI at 11.30 (GMT+2).

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 103.75
Prev Close: 103.82
% chg. over the last day: +0.06%

On Friday, the USD/JPY currency pair was traded in a narrow price range of 103.70-103.90 and closed the day with +0.06%. Today, the currency pair is being traded at yesterday’s close. On the hourly chart, the USD/JPY currency pair has been fixed below the MA line (200). On the four-hour chart, the situation is similar. The MACD indicator is in the negative zone. Based on the above, one should probably consider sales while the pair remains below MA 200 on H1.

Trading recommendations

Support levels: 103.65, 103.18
Resistance levels: 104.21, 104.35, 105.12

The main scenario for trading USD/JPY is considering selling an asset. If the price breaks the 103.65 level and fixes below it, then the currency pair may move to the 103.18 level.

The alternative scenario assumes consolidation above 104.21, with further growth to 105.12 (November 16 high).

 

 

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.3066
Prev Close: 1.3092
% chg. over the last day: +0.19%

The USD/CAD currency pair is being traded in the price range of 1.3038-1.3100. On Friday, it closed with a result of +0.19%. Today the pair is being traded at yesterday’s close. 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. At the moment, a prolonged consolidation in the range of 1.3038-1.3110 is observed on the currency pair. If the price breaks through and fixes below the trading channel, one should consider selling the asset.

Trading recommendations

Support levels: 1.3038, 1.2928
Resistance levels: 1.3118, 1.3172

The main scenario: if the price breaks through and fixes below the level of 1.3038, it is worth considering sales with a target up to 1.2928.

Alternative scenario: if the price breaks through the level of 1.3118 and fixes above the MA 200 on H1, it is worth considering a buy position to the level of 1.3172.

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