The EUR / USD currency pair

Technical indicators of the currency pair:

Previous opening: 1.2249
Previous close: 1.2192
% chg. on the last day: -0.46%

On Wednesday, the EUR / USD currency pair fell 0.46% and returned to broad flat. A strong deviation from the middle line played a key role. But the fundamental picture is not in favor of the US dollar, so investors are likely to buy back this corrective movement.

Trading recommendations

Support levels: 1.2168, 1.2138, 1.2115, 1.2074, 1.2026, 1.2002, 1.1957
Resistance levels: 1.2243, 1.2311

The trend is still bullish. The price is above the priority change level of 1.2168. The MACD indicator has crossed into the negative zone. In such market conditions, it is best for traders to focus on long positions from the support levels.

Alternative scenario: If the price falls through the support level of 1.2168 and corrects below, the general uptrend will likely be broken.

News feed for 2021.05.27:

  • US preliminary GDP (t / t) at 3:30 p.m. (GMT + 3);
  • Unemployment claims in the United States (w / w) at 3:30 p.m. (GMT + 3);
  • US home sales (m / m) at 5:00 p.m. (GMT + 3).

The GBP / USD currency pair

Technical indicators of the currency pair:

Previous opening: 1.4148
Previous close: 1.4116
% chg. on the last day: -0.22%

The British Pound is still trading in a broad dish with a range of 1.4110-1.4207. So far, the price has dropped to the lower end of the corridor, but there has been no significant reaction from buyers.

Trading recommendations

Support levels: 1.4110, 1.4075, 1.3996, 1.3913,1.3835, 1.3801, 1.3756, 1.3690
Resistance levels: 1.4207

Despite the fact that the price is below the moving average and the MACD indicator is below zero, the trend remains bullish as the price is above the priority change level of 1.4075. Traders are advised to look for long trades from the lower end of the range, but only after buyers have shown strong initiative.

Alternative scenario: If the price breaks through the support level of 1.4075 and consolidates below, the bullish scenario is likely to be canceled.

The USD / JPY currency pair

Technical indicators of the currency pair:

Previous open: 108.74
Previous close: 109.14
% chg. on the last day: + 0.37%

On Wednesday, the USD / JPY currency pair broke through and held above the range’s upper 109.00 level, increasing the likelihood of changing the priority over the H1 period. However, the fundamentals are playing against the dollar index, and given the strong correlation between the US dollar and the Japanese yen, investors expect the price to fall further.

Trading recommendations

Support levels: 109.00, 108.66, 108.44, 108.19, 107.77, 107.47, 107.04
Resistance levels: 109.32, 109.64, 109.95, 110.51

Over the H1 period, the trend remains bearish, but the buyers are much more aggressive, so this correcting movement can turn into a full trend reversal. In such market conditions, traders can look for both selling from resistance levels and buying from support levels. A test of the psychological level of 109.00 is very likely.

Alternative scenario: If the price exceeds 109.32, the general uptrend should resume.

The USD / CAD currency pair

Technical indicators of the currency pair:

Previous opening: 1.2065
Previous close: 1.2124
% chg. on the last day: + 0.49%

The USD / CAD currency pair rose 0.49% at the end of Wednesday. The price got out of range and tested the priority shift level of 1.2137. The move was impulsive and the price held above the moving average.

Trading recommendations

Support levels: 1.2093, 1.2032, 1.1944
Resistance levels: 1.2137, 1.2251, 1.2321, 1.2388, 1.2414, 1.2519

At the moment the price is trading above the moving average, the MACD indicator is in the positive zone, but the price is still below the priority change level of 1.2137. In such market conditions, traders can work from both sides. As the buyer’s pressure is stronger now, it is better to sell from the resistance level after further confirmations.

Alternative scenario: If price breaks through the resistance level of 1.2137 and fixes above, a local corrective uptrend is likely to form.



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Al Worden

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