Good morning colleagues. Today is the last Monday of summer. Let’s perform an indicator analysis and look at the news that can affect the market movement today.
Main news of the day
We check the economic calendar at the following time:
- USA: 3:30 p.m.; 16:30.
- United Kingdom: closed.
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: At the end of last week, there was a downward impulse that shifted the slope vector of the bands downwards.
- MACD: bars in the negative zone, confirming the action of Friday’s downward momentum.
- RSI: the line is reversing in the oversold zone. This is a signal that an upward correction is coming soon.
Possible pivot points
Support: 1.1179; 1,1153; 1,130.
Resistance: 1.1242; 1,1300; 1,1320.
Recommendations: buy from support levels.
Signals on GBPUSD
Let’s analyze the data of indicators on H4.
- BB: the bands in a neutral location continue to confirm the instability of the trend on this pair.
- MACD: bars in the negative zone indicate the temporary dominance of the downtrend.
- RSI: the line makes a reversal in the oversold zone.
Possible pivot points
Support: 1.3112; 1,3075; 1,3025.
Resistance: 1.3168; 1,3200; 1,3255.
Recommendations: given the holiday in the UK, we skip all transactions for this pair today.
Signals for USDJPY
Let’s analyze the indicator data on the four-hour H4.
- BB: Despite the strong upward momentum that occurred on Friday, the bands continue to be in neutral.
- MACD: the bars have moved to the positive zone.
- RSI: the line is increasing, but it is located in the overbought zone. In the near future, we should expect a downward correction.
Possible pivot points
Support: 100.00; 99,75; 99,50.
Resistance: 100.40; 100,80; 102,20.
Recommendations: sell from resistance levels.
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Have a great week everyone!
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