The Analytical Overview of the Main Currency Pairs on 2021.04.22

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.2030
  • Prev Close: 1.2035
  • % chg. over the last day: +0.04%

Yesterday the EUR/USD pair traded in a narrow range of 1.2000 – 1.2035 and closed the day with a result of +0.04%. On the H1 and the H4 timeframes, the price is above the moving average. The MACD on H4 is in the positive zone. Buying is the priority.

Trading recommendations
  • Support levels: 1.1990, 1.1927, 1.1860, 1.1797, 1.1700
  • Resistance levels: 1.2080, 1.2100, 1.2242

Yesterday, the currency pair made a corrective movement to its key level of 1.1990 and provided a good entry point for buying. In the future, we recommend looking for entry points on corrections on lower timeframes to the trend line or after the price breaks out and fixes above the level of 1.2080.

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

EUR/USD
News feed for 2021.04.22:
  • – ECB Deposit Interest Rate (Apr) at 14:45 (GMT+3);
  • – ECB Marginal Lending Facility Rate at 14:45 (GMT+3);
  • – ECB Monetary Policy Statement at 14:45 (GMT+3);
  • – ECB Interest Rate Decision (Apr) at 14:45 (GMT+3);
  • – US Initial Jobless Claims at 15:30 (GMT+3);
  • – ECB Press Conference at 15:30 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.3927
  • Prev Close: 1.3927
  • % chg. over the last day: 0%

Yesterday, the GBP/USD currency pair traded in a narrow price range and closed the day with a 0% result. On the hourly chart, GBP/USD is trading above the 200-day moving average. The situation is similar on the four-hour chart. The MACD indicator is in the negative zone on the H1, which tells us about the pair's correction to its upward movement. At the moment, only buying should be considered.

Trading recommendations
  • Support levels: 1.3884, 1.3807, 1.3750, 1.3667
  • Resistance levels: 1.3918, 1.4008

At the moment, the price has approached the 1.3884 support level. You can look for buy entry points after the price breaks through the level of 1.3918.

Alternative scenario: after the price breaks through and consolidates below the level of 1.3884, short positions to the 1.3800 level can be considered.

GBP/USD
News feed for 2021.04.22:
  • – US Initial Jobless Claims at 15:30 (GMT+3);
  • – US Second Home Sales (Mar) at 17:00 (GMT+3).

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.07
  • Prev Close: 108.04
  • % chg. over the last day: -0.03%

Yesterday, the USD/JPY pair traded in the range of 107.85 – 108.20, showing a change of -0.03%. On the H1 and H4 timeframes, the price is below the moving average, which tells us about the continuation of the downward movement. It is worth selling the instrument.

Trading recommendations
  • Support levels: 107.87, 107.00
  • Resistance levels: 108.60, 109.08, 109.75

While the pair is in a downtrend, we recommend sticking to bearish trading. The main scenario is looking for a sell entry point after price correction to the 108.60 level or after breaking through 107.87. It is also worth paying attention to the MACD divergence, which may signal a trend reversal.

Alternative scenario: if the price breaks out and consolidates above the level of 108.63, it is worth buying to the level of 109.08.

USD/JPY
News feed for 2021.04.22:
  • – US Initial Jobless Claims at 15:30 (GMT+3);
  • – US Second Home Sales (Mar) at 17:00 (GMT+3).

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.2609
  • Prev Close: 1.2495
  • % chg. over the last day: -0.91%

Yesterday, the USD/CAD pair showed a strong downward movement, which led to a -0.91% fall. It happened due to the statement of the Bank of Canada that interest rates may be raised soon. At the moment, the currency pair is below the moving average. The MACD indicator is in the negative zone. Based on the above, it is worth selling the instrument.

Trading recommendations
  • Support levels: 1.2475, 1.2364
  • Resistance levels: 1.2560, 1.2628

At the moment, selling is considered. The entry point should be sought after the price breaks through and consolidates below the 1.2475 level.

Alternative scenario: after the price breaks out and consolidates above the level of 1.2559, buying up to 1.2628 should be considered.

USD/CAD
News feed for 2021.04.22:
  • – US Initial Jobless Claims at 15:30 (GMT+3);
  • – US Second Home Sales (Mar) at 17:00 (GMT+3).

by Justforex, 2021.04.22

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.

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