Hello dear traders. Let’s take a look at what the market has in store for us today. To do this, let’s conduct an indicator analysis and compile a list of fundamental events on Wednesday.
The main news of the day
We check the economic calendar at the following time:
- Eurozone: 09:00; 12:35.
- Canada: 5:00 p.m.
- USA: 5:00 p.m.; 21:00.
- UK: 10:30 a.m.; 11:30; 12:15; 16:15; 17:00.
Do not forget that the release of news is one of the most unfavorable moments for entering a position.
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 widened and in a parallel state. The price is concentrated near the upper limit.
- MACD: the bars are in the positive zone, but their size is starting to decrease. This indicates the gradually growing strength of the downward movement.
- RSI: the line leaves the overbought zone and is directed downwards.
Possible pivot points
Support: 1.1230; 1.1215; 1,1200.
Resistance: 1.1260; 1.1280; 1,1305.
Recommendations: sell only if the price breaks through and consolidates under one of the support levels.
Signals on GBPUSD
Let’s analyze the data of indicators on H4.
- BB: The bands have an ascending angle of inclination. The price is decreasing and approaching the midline.
- MACD: the bars are small, are in the positive zone and are gradually decreasing.
- RSI: the line has left the overbought zone and is directed downwards. This indicates the strength of the downward momentum.
Possible pivot points
Support: 1.3320; 1,3300 1,3260.
Resistance: 1.3375; 1.3395; 1.3400.
Recommendations: sells after passing the price of support levels.
Signals for USDJPY
Let’s analyze the indicator data on the four-hour H4.
- BB: The bands are widened, have a fuzzy downward slope. The price is located near the lower border.
- MACD: the bars are in the negative zone, but the strength of the bearish momentum is gradually weakening.
- RSI: the line is in the oversold zone and is preparing for growth.
Possible pivot points
Support: 103.18; 102.95; 102,70.
Resistance: 103.80; 104.00; 104,32.
Recommendations: buy from support levels.
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