Good morning and the beginning of a new week. August is moving into the last decade. Now we will conduct an indicator analysis and consider fundamental events that may affect price activity on Monday.
Main news of the day
We check the economic calendar at the following time:
- USA: 6:30 p.m.
- Canada: 3:30 p.m.
- Australia: 5:30 p.m.
- Eurozone: 11:00 a.m.; 16:00.
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 moved to a neutral location, indicating the absence of a clear trend. Since the price has fixed below the middle line, we should expect a downward correction in the near future.
- MACD: the indicator has moved into the negative zone. Since the size of the current bar is larger than the previous one, this increases the probability of a downward momentum.
- RSI: the line is pointing downwards, but temporarily performs an upward correction.
Possible pivot points
Support: 1.1260; 1.1212; 1,1175.
Resistance: 1.1290; 1.1320; 1,1360.
Recommendations: we focus on resistance levels and sell from their borders.
Signals on GBPUSD
Let’s analyze the data of indicators on H4.
- BB: The bands have moved to a neutral location. The price breaks through the midline, which indicates the increasing strength of the upward momentum.
- MACD: the bars are decreasing in the negative zone, but their size is gradually decreasing.
- RSI: the line has overcome the middle level and moved into the growth stage.
Possible pivot points
Support: 1.3045; 1,2995; 1,2960.
Resistance: 1.3170; 1.3225; 1,3270.
Recommendations: buy from support lines.
Signals for USDJPY
Let’s analyze the indicator data on the four-hour H4.
- BB: The bands are narrowed and neutrally spaced. The price has fixed above the middle line, so we should expect an upward movement soon.
- MACD: in the positive zone and gradually gaining strength.
- RSI: the line increases, but temporarily makes a downward correction.
Possible pivot points
Support: 100.44; 100.62; 100,89.
Resistance: 100.40; 100.10; 99,70.
Recommendations: buy from support levels.
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Have a great week!
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