The Analytical Overview of the Main Currency Pairs on 2021.04.19

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.1961
  • Prev Close: 1.1981
  • % chg. over the last day: +0.16%

On Friday, the EUR/USD pair traded in the range of 1.1950 – 1.1995 and closed the day with a result of +0.16%. On the H1 and the H4 timeframes, the price is above the moving average. The MACD is in the positive zone. The uptrend persists, which tells us that it is better to stick with ideas towards buying.

Trading recommendations
  • Support levels: 1.1990, 1.1927, 1.1860, 1.1797, 1.1700
  • Resistance levels: 1.2100, 1.2242

As for EUR/USD, the upward movement remains. We recommend looking for entry points to buy. It is best to look for entry points after the price corrects to the support level of 1.1990.

Alternative scenario: after the price breaks through and consolidates below the level of 1.1990, the price may go to the support level of 1.1927.

EUR/USD
There is no news feed for today.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.3773
  • Prev Close: 1.3830
  • % chg. over the last day: +0.41%

On Friday, the GBP/USD currency pair was trading in an uptrend and closed the day with +0.41%. On the hourly chart, the pair is trading above the 200-day moving average. The situation is similar on the four-hour chart. The MACD indicator is in the positive zone on the H1. So it is worth buying the instrument.

Trading recommendations
  • Support levels: 1.3667, 1.3750, 1.3807
  • Resistance levels: 1.3917

At the moment, the price is above the moving average, which tells us about an uptrend. The MACD is also in positive territory. Only buying should be considered. It is best to look for entry points on the price correction to the 1.3800 level.

Alternative scenario: after the price breaks through and consolidates below the level of 1.3800, short positions to the level of 1.3750 should be considered.

GBP/USD
There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.72
  • Prev Close: 108.78
  • % chg. over the last day: +0.06%

On Friday, the USD/JPY pair traded in a narrow range of 108.60 – 108.95 and showed a change of +0.06%. On the H1 and H4 timeframes, the price is below the moving average, which tells us about the continuation of the downward movement. For now, it is better to stick to the bearish trade.

Trading recommendations
  • Support levels: 107.00
  • Resistance levels: 108.60, 109, 109.75

While the price is below the moving average on the H1 timeframe, it is worth looking for entry points to sell the instrument. The main scenario is the search for a sell entry point after price correction to the level of 108.60.

Alternative scenario: if the price breaks out and consolidates above the level of 109.08, it is worth buying to 109.75.

USD/JPY
There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.2538
  • Prev Close: 1.2505
  • % chg. over the last day: -0.25%

On Friday, the USD/CAD currency pair was trading in a downtrend and showed a 0.25% drop. At the moment, the currency pair is below the moving average, and the MACD indicator is in the negative zone. So it is worth selling the instrument.

Trading recommendations
  • Support levels: 1.2477, 1.2364
  • Resistance levels: 1.2628, 1.2560

At this point, it is best to consider selling. The entry point should be sought after the price breaks down and consolidates below the level of 1.2477.

Alternative scenario: after breaking out and consolidating above the level of 1.2560, one should open buy deals to 1.2628.

USD/CAD
There is no news feed for today.

by Justforex, 2021.04.19

We recommend you to get acquainted with the daily overview of the news feed.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
How to Interpret Inflation Data?
The Consumer Price Index, better known as CPI, is an important economic indicator regularly published by major economies to provide timely information on current inflation.
Read more
Setting the Clock Right: The Best Time To Trade Forex In India And Other Tips
In the forex market, many components come together for ensuring smooth operations and positive outcomes for a trader. Careful timing of trades is one of such components. In this article, we will explain how market timing is made, what time is best (and relatively worse) for trading, and how to choose the best time for forex trading in India.
Read more
The Matter of Trends: The Most Trending Forex Pairs
The forex market is lucrative for beginners and experienced traders alike because of high liquidity, various trading options, and earning potential that can be successfully realized with a properly chosen forex pair. Then the first question a trader should ask themselves is what pairs to trade and how to predict trends to make a profit off them. In this article, we will explore the trending potential of forex pairs, how to select the best pairs in forex, and uncover short-term and long-term trends.
Read more