Good morning everyone and the beginning of the next trading day. Let’s perform an indicator analysis and consider a list of fundamental events that can affect the market on Tuesday.
Main news of the day
We check the economic calendar at the following time:
- USA: 3:30 p.m.; 16:15; 19:30; 20:00.
- Canada: 3:30 p.m.
- UK: 11:30 a.m.
- Eurozone: 12:00.
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 bars are pointing upwards, confirming a strong upward momentum.
- MACD: the bars have moved to the positive zone, indicating the stability of the uptrend.
- RSI: the indicator line is increasing and is in the overbought zone. In case of a reversal, we should expect a downward correction.
Possible pivot points
Support: 1.1106; 1.1129; 1,1157.
Resistance: 1.1275; 1.1315; 1,1340.
Recommendations: we enter the sale from resistance points.
Signals on GBPUSD
Let’s analyze the data of indicators on H4.
BB: The bands narrow and gradually lose their clear downward slope. Given the protracted decreasing movement, we should expect a restorative upward movement in the near future.
- MACD: the bars approached the zero mark, confirming the weakness of the downtrend.
- RSI: the line rises and exits the oversold zone.
- Possible pivot points
Support: 1.2765; 1,2814; 1,2847.
Resistance: 1.2900; 1.2911; 1,2924.
Recommendations: buy after the price approaches the support points. Importantly! Signals are valid only if the fundamental news scheduled for 11:30 does not radically change the dynamics of the market.
Signals for USDJPY
Let’s analyze the indicator data on the four-hour H4.
- BB: the parallel arrangement of the bands confirms the market instability of this pair. Given the price’s approach to the lower boundary, we should expect a restorative upward movement.
- MACD: the bars are placed in the negative zone.
- RSI: the line is approaching the oversold zone.
Possible pivot points
Support: 100.05; 100.21; 100,30.
Resistance: 101.19; 101.53; 101.81; 102,15.
Recommendations: buy from support points.
Choose trusted binary options brokers, trade systematically and check the Economic Calendar more often.
Have a good day!
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