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: 4:45 p.m.; 17:00.
- Eurozone: 10:30; 11:00.
- UK: 13:00.
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 are parallel to each other, the price is near the upper boundary. There are all prerequisites for a downward correction.
- MACD: in the negative area.
- RSI: the line increases, but enters the overbought zone.
Possible pivot points
Support: 1.1300; 1.1270; 1,1245.
Resistance: 1.1355; 1.1375; 1,1400.
Recommendations: sell from resistance lines.
Signals on GBPUSD
Let’s analyze the data of indicators on H4.
- BB: the bands are in neutral, the price has accumulated near the upper boundary. Soon we should expect a downward movement.
- MACD: in the positive zone, but the bars are small. This confirms the weakness of the uptrend.
- RSI: growing, but ready to enter the overbought zone.
Possible pivot points
Support: 1.3159; 1,3126; 1,3091.
Resistance: 1.3200; 1.3225; 1,3270.
Recommendations: we enter the sale from resistance levels.
Signals for USDJPY
Let’s analyze the indicator data on the four-hour H4.
- BB: the stripes are in a very narrowed state. The price has not yet moved away from the lower limit. This creates a high probability of an upward momentum.
- MACD: bars in the zero state, which confirms market instability.
- RSI: the line is pointing downwards, however not the way the oversold level.
Possible pivot points
Support: 100.00; 99.75; 99,50.
Resistance: 100.40; 100.80; 102,20.
Recommendations: buy from support levels.
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