Good morning colleagues. The third week of August is coming to an end. Let’s conduct an indicator analysis and consider fundamental events that can affect the market today.
Main news of the day
We check the economic calendar at the following time:
- USA: 10:30 p.m.
- Canada: 3:30 p.m.
- Australia: 22:30.
- Japan: 10:30 p.m.
- Russia: 10:30 p.m.
- UK: 22:30.
- Eurozone: 09:00; 22:30.
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 lines are increasing, the price is performing a downward correction and is currently located in the area of the middle band.
- MACD: moved into the negative zone. This is a strong signal confirming the further development of the downward correction.
- RSI: the line is directed downwards and comes out of the overbought zone (the downward movement is gaining momentum).
Possible pivot points
Support: 1.1286; 1.1236; 1,1215.
Resistance: 1.1340; 1.1365; 1,1400.
Recommendations: sell from resistance levels.
Signals on GBPUSD
Let’s analyze the data of indicators on H4.
BB: The bands are widened and in neutral. Given the consolidation in the upper border area, we should expect a downward momentum in the coming hours.
- MACD: the bars are decreasing in size and preparing to move into the negative zone.
- RSI: the line begins to exit the overbought zone.
- Possible pivot points
Support: 1.2956; 1,2924; 1,2877.
Resistance: 1.3088; 1.3016; 1,2979.
Recommendations: we sell from resistance points.
Signals for USDJPY
Let’s analyze the indicator data on the four-hour H4.
- BB: the bands are narrowed and go into neutral. Given the protracted downtrend, we should expect a strong upward movement soon.
- MACD: in the positive zone.
- RSI: the line resumes growth.
Possible pivot points
Support: 100.44; 100.62; 100,89.
Resistance: 100.00; 99.83; 99,52.
Recommendations: buy from support lines.
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Have a nice day and have a nice weekend!
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