Hello colleagues. The first Monday of September has come, and with it a new week. It’s time to conduct an indicator analysis and review the main fundamental events of the day.
The main news of the day
We check the economic calendar at the following time:
- Eurozone: 11:00 a.m.; 12:00.
- Russia: 16:00.
- UK: 11:30 a.m.
Do not forget that the release of news is one of the most unfavorable moments for entering a position.
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, which indicates the absence of a pronounced trend. The price is consolidating around the midline.
- MACD: the bars from the positive zone have moved to the zero state. This indicates the gradually increasing strength of the bears (downtrend).
- RSI: the line is declining.
Possible pivot points
Support: 1.1150; 1,1100; 1,1089.
Resistance: 1.1180; 1,1112; 1,1100.
Recommendations: sell from resistance levels.
Signals on GBPUSD
Let’s analyze the data of indicators on H4.
- BB: The bands are increasing and have a wide range. The price has accumulated near the upper limit.
- MACD: the bars are gradually decreasing and are near the zero level. This indicates the weakness of the upward movement and the likelihood of a downward correction.
- RSI: the line is decreasing and exiting the overbought zone.
- Possible pivot points
Support: 1.3290; 1,3260 1,3200.
Resistance: 1.3335; 1,3375 1,3400.
Recommendations: sell after the price approaches resistance levels.
Signals for USDJPY
Let’s analyze the indicator data on the four-hour H4.
- BB: the bands have moved into a parallel state, the price has broken through the middle line.
- MACD: the bars have moved to the negative zone.
- RSI: The line has a clear downward angle.
Possible pivot points
Support: 102.97; 102,72; 102,28.
Resistance: 103.36; 103,57; 103,95.
Recommendations: sell after breaking through the support levels.
Choose trusted binary options brokers, conduct high-quality technical analysis and be sure to check the Economic Calendar before entering a trade.
Have a great week everyone!
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