Good morning everyone. Today is Thursday, which means that the third week of August is coming to an end. Let’s perform an indicator analysis and consider fundamental events that can affect the market.
Main news of the day
We check the economic calendar at the following time:
- USA: 3:30 p.m.; 17:05; 23:00.
- Canada: 3:30 p.m.
- Russia: 16:00.
- UK: 11:30 a.m.
- Eurozone: 12:00; 14:30.
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 lines are pointing upwards, confirming the upward momentum. The price is consolidating near the upper limit, so we should expect a downward correction soon.
- MACD: bars from the positive zone are approaching zero, confirming the weakness of the upward movement.
- RSI: the line is in the overbought zone.
Possible pivot points
Support: 1.1130; 1.1170; 1,1212.
Resistance: 1.1315; 1.1350; 1,1400.
Recommendations: we focus on resistance points and sell from their borders.
Signals on GBPUSD
Let’s analyze the data of indicators on H4.
- BB: the bands have moved to a neutral position, the price is consolidating near the upper boundary.
- MACD: The bars have approached the zero level, indicating the weakness of the upward momentum.
- RSI: the line has entered the overbought zone.
Possible pivot points
Support: 1.2956; 1,2924; 1,2877.
Resistance: 1.2940; 1.2976; 1,3020.
Recommendations: the movement on the pair is not stable, so we do not trade until the news is published (time: 11:30). If nothing drastic happens, we buy from support levels, sell from resistance.
Reminder: trading in the channel is effective only if the expiration period is minimal (up to 30 minutes).
Signals for USDJPY
Let’s analyze the indicator data on the four-hour H4.
- BB: the bands are parallel, the price has approached the lower boundary.
- MACD: bars in the zero zone, which increases the likelihood of a powerful upward momentum.
- RSI: the line rises and begins to exit the oversold zone.
Possible pivot points
Support: 99.50; 99.32; 99,00.
Resistance: 100.16; 100.61; 101,00.
Recommendations: buy from support levels.
Choose only trusted binary options brokers, follow the risk management and always trade systematically.
Have a profitable day!
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