Good morning fellow traders. The second week of August begins. In this review, we will conduct an indicator analysis of key currency assets.
Main news of the day
We check the economic calendar at the following time:
- Canada: 3:30 p.m.
- Eurozone: 9:00 a.m.
- Switzerland: 10:15 a.m.
Do not forget that the release of news is one of the most unfavorable moments for entering a position. Pay special attention to the UK today.
Let’s move on to technical analysis.
Signals on EURUSD
Let’s analyze the indicator data on the four-hour (H4) timeframe.
- BB: The bands have a small downward angle, which can go into neutral at any time.
- MACD: decreasing, confirming a temporary downward correction.
- RSI: the indicator is approaching the oversold zone, which confirms the instability of the trend on this pair.
Possible pivot points
Support: 1.0913; 1.0978; 1,1032.
Resistance: 1.1097; 1,1151; 1,1216; 1,1270.
Recommendations: we trade in the channel: we buy from support points, and from resistance levels we enter sales. Nuance: we make the expiration period minimal.
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Signals on GBPUSD
Let’s analyze the data of indicators on H4.
- BB: are in a parallel state (neutral trend).
- MACD: the bars are close to zero and have a small size.
- RSI: the indicator has approached the oversold zone, but a clear upward angle that could indicate a new uptrend has not formed.
Possible pivot points
Support: 1.2843; 1.2931; 1,3002.
Resistance: 1.3090; 1.3161; 1.3249; 1,3320.
Recommendation: fundamental events that occurred at the end of last week brought down the pair strongly. In the near future, we should expect an upward correction, so we buy from support points.
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Signals for USDJPY
Let’s analyze the indicator data on the four-hour H4.
- BB: have passed into a neutral state and indicate the absence of a clearly defined movement in the pair.
- MACD: bars in the positive zone. This suggests a possible upward momentum.
- RSI: The line is pointing upwards at a clear angle. This orientation confirms the probability of an upward movement.
Possible pivot points
Support: 99.86; 100.35; 101,08.
Resistance: 101.57; 102,30; 102,79; 103,52.
Recommendations: buy from support points.
Study technical indicators, follow fundamental events and work only with trusted binary options brokers.
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Have a profitable week everyone!
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