Good morning colleagues. Today is Wednesday, the middle of the week. It’s time to perform an indicator analysis and see a summary of fundamental events that can move the market.
Main news of the day
We check the economic calendar at the following time:
- USA: 4:45 p.m.; 17:00; 17:30.
- Eurozone: 09:00.
- UK: 11:30 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 are in a neutral position, which indicates the absence of a clearly defined trend. The price has approached the lower limit. Given the protracted upward movement, we should expect a downward correction.
- MACD: bars in the negative zone, which increases the probability of the pair falling.
- RSI: The line is pointing downwards at a clear angle.
Possible pivot points
Support: 1.1251; 1.1213; 1,1179.
Resistance: 1.1311; 1.1332; 1,1364.
Recommendations: we focus on resistance points and sell from their borders.
Signals on GBPUSD
Let’s analyze the data of indicators on H4.
- BB: Stripes in neutral position. Yesterday’s consolidation near the upper border was prolonged. In the near future, we are waiting for a downward impulse.
- MACD: bars from the positive zone have approached zero and are ready to cross the midline.
- RSI: The indicator line is located near the overbought zone and is pointing downwards.
Possible pivot points
Support: 1.3159; 1,3126; 1,3091.
Resistance: 1.3200; 1.3225; 1,3270.
Recommendations: sell from resistance lines.
Signals for USDJPY
Let’s analyze the indicator data on the four-hour H4.
- BB: The bands continue to be in a neutral constricted state. The price has already passed the midline. We are waiting for an upward momentum.
- MACD: bars line up in the zero zone, confirming the instability of the trend.
- RSI: The line is in a horizontal position and is in limbo.
Possible pivot points
Support: 100.00; 99.75; 99,50.
Resistance: 100.40; 100.80; 102,20.
Recommendations: buy from support lines.
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Good luck!
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