Good morning fellow traders. Let’s conduct an indicator analysis and consider fundamental events that can affect market activity today.
Main news of the day
We check the economic calendar at the following time:
- USA: 5:30 p.m.; 21:00.
- UK: 11:30 a.m.
- Russia: 16:00.
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. The price has accumulated in the area of the upper border and began a downward correction.
- MACD: the bars are in the positive zone, but their size has sharply decreased.
- RSI: the line is coming out of the overbought area.
Possible pivot points
Support: 1.1230; 1.1195; 1,1177.
Resistance: 1.1270; 1.1290; 1,1323.
Recommendations: sell from resistance levels.
Signals on GBPUSD
Let’s analyze the data of indicators on H4.
- BB: the bands have moved to a neutral position, which confirms the absence of a clear trend. At the moment, the price is consolidating near the upper limit.
- MACD: the bars are close in the positive zone.
- RSI: the line returns to the overbought zone.
Possible pivot points
Support: 1.2956; 1,2924; 1,2877.
Resistance: 1.3027; 1.3070; 1,3100.
Recommendations: we trade in the channel. We buy from support points, sell from resistance levels.
Signals for USDJPY
Let’s analyze the indicator data on the four-hour H4.
- BB: The bands are parallel to each other. The price approached the middle line in the bottom-up direction.
- MACD: the bars have moved to the positive zone.
- RSI: the line is heading back into the oversold zone. This means that the price, after a slight downward correction, is preparing to resume growth.
Possible pivot points
Support: 100.56; 100.16; 99,84.
Resistance: 101.16; 101.27; 101,44.
Recommendations: we focus on support lines and buy from their borders.
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