The Analytical Overview of the Main Currency Pairs on 2021.04.30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.2123
  • Prev Close: 1.2119
  • % chg. over the last day: -0.03%

The EUR/USD currency pair traded quietly on Thursday. The trend remains bullish, but there is a divergence on the MACD indicator, which is the first sign of a corrective movement. It is important for buyers to hold the support level of 1.2088. With a high probability, the price will make one more upward wave, and then the pullback may begin. A lot of statistical data from Europe are expected today.

Trading recommendations
  • Support levels: 1.2088, 1.2049, 1.1994, 1.1957
  • Resistance levels: 1.2176, 1.2212, 1.2243

On EUR/USD, it is best to look for purchases from the nearest support levels. The price may test the broken level of 1.2088, which acts as a support.

Alternative scenario: if the price breaks down through the 1.2088 level and holds below, with a high probability, the price can go down to 1.2049, with a potential to start a local downtrend correction.

EUR/USD
News feed for 2021.04.30:
  • – Germany’s Gross Domestic Product at 11:00 (GMT+3);
  • – EU Consumer Price Index at 12:00 (GMT+3);
  • – EU Gross Domestic Product at 12:00 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.3928
  • Prev Close: 1.3939
  • % chg. over the last day: +0.07%

On Thursday, the British currency traded in a narrow price range, near the 1.3944 level, which is no longer significant. The trend remains bullish, and the price is still trading above the moving average.

Trading recommendations
  • Support levels: 1.3913, 1.3864, 1.3835, 1.3794, 1.3756, 1.3690
  • Resistance levels: 1.3996, 1.4149

The strategy for the GBP/USD currency pair remains unchanged – to buy from the support levels. Now the price is moving to the 1.3913 support level, and if there are no impulse sales there, it is a good point to open long positions with the 1.3996 target level.

Alternative scenario: if the price breaks down the support level of 1.3864 and holds below, the price will go to test the 1.3794 level. Moving below 1.3794 will temporarily cancel the bullish scenario on the current timeframe.

GBP/USD
There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.58
  • Prev Close: 108.91
  • % chg. over the last day: +0.03%

The USD/JPY currency pair again failed to hold above the resistance level of 109.04. The price showed a sharp opposite reaction. The MACD indicator has started signaling divergence, indicating that the buyers are getting weak. But as long as the price is above the moving average and the uptrend line, it is not recommended to open short positions.

Trading recommendations
  • Support levels: 108.87, 108.44, 108.19,107.77, 107.47, 107.04, 105.92
  • Resistance levels: 109.04, 109.36

It is important for the buyers to protect the support level of 108.44, which is very important for the continuation of the upward dynamics.

Alternative scenario: if the price drops below 108.44, with a high probability, the general downtrend will continue.

USD/JPY
There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.2314
  • Prev Close: 1.2278
  • % chg. over the last day: -0.29%

The USD/CAD continues to strengthen due to the rising oil prices. The price reached the 1.2280 support level and stopped in front of it. Considering that there is no initiative from the buyers, with a negative MACD, the price is likely to move even lower.

Trading recommendations
  • Support levels: 1.2280, 1.2165
  • Resistance levels: 1.2343, 1.2388, 1.2414, 1.2488, 1.2519, 1.2574

For USD/CAD, the trend is strictly downward, so it is reasonable to look for sell trades from the resistance levels or from a local downtrend line.

Alternative scenario: if the price breaks through the 1.2414 resistance level and holds above, with a high probability, a local corrective uptrend will be formed.

USD/CAD
News feed for 2021.04.30:
  • – Canada’s Gross Domestic Product at 15:30 (GMT+3).

by Justforex, 2021.04.30

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
Social Trading: What Is It and How To Make Money Using It
Since the trading migrated online, the traders have been communicating on the online forums and other special services. Some traders teach their less experienced peers how to earn on trading, mitigate related risks, and build their careers in trading. This trend is known as social trading.
Read more
Copy Trading: Important Risks and Advantages to Take into Consideration
Copy trading is one of the popular trading strategies that allows traders to copy in a step-by-step manner the trading moves of other traders, commonly considered to be experienced and successful. Copy trading is a good way to start a trading journey without conducting long time-consuming research of markets and instruments. However, mechanical copying of steps made by other traders has its particular risks and benefits. These risks and advantages, as well as useful tips and rules of copy trading, are gathered for your convenience in this article.
Read more
The Best Time to Trade Stocks In South Africa And A Glimpse Into The World Of Global Stock Exchanges
Trading stock is the first thing that comes to mind when the word 'trading' is uttered. You can keep them for years as a portfolio, building your wealth gradually, or try some risky market gambling for quicker profits. So, if you are interested in this solid and 'aristocratic' kind of assets, read this guide on how to perform stock trading in South Africa and when to do it for maximum effect.
Read more