The Analytical Overview of the Main Currency Pairs on 2021.04.21

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev. Open: 1.2036
• Prev. Close: 1.2036
• % chg. over the last day: 0%

Yesterday, the EUR/USD currency pair was trading in the range of 1.2025 – 1.2080 and closed the day with a result of 0%. The price is above the moving average on the H1 and H4 timeframes, the MACD is in the positive zone on H4. Based on the above, it is worth buying the asset.

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 correctional movement towards its growth. 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 on lower timeframes.

Alternative scenario:

after the price breaks through and fixes below the level of 1.1990, it may go to the support level of 1.1927.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev. Open: 1.3982
• Prev. Close: 1.3936
• % chg. over the last day: -0.33%

Yesterday, the GBP/USD currency pair was trading in a downtrend and closed the day with a result of -0.33%. On the hourly chart, the GBP/USD pair is trading above the moving average MA (200). 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 correction of the pair to its upward movement. Based on the above, it is probably worth buying the asset after a correction.

Trading recommendations

• Support levels: 1.3667,1.3750,1.3807,1.3917
• Resistance levels: 1.4008

Now the price has approached the support level of – 1.3917. We assume that you can look for entry points to buy at the level of 1.3917 on low timeframes.

Alternative scenario:

after the price breaks through and consolidates below the level of 1.3917, short positions to the level of 1.3800 should be considered.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev. Open: 108.11
• Prev. Close: 108.07
• % chg. over the last day: -0.03%

Yesterday, the USD/JPY currency pair was trading in the range of 108.00 – 108.45 and showed 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. For now, it is worth selling the instrument.

Trading recommendations

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

Indicators and technical analysis show that it is worth considering a short position for this instrument. The main scenario – looking for a sell entry point after the price correction to the level of 108.60 or after breaking through the level of 107.87.

Alternative scenario:

if the price breaks through and consolidates above the level of 108.63, it is worth buying to the level of 109.08.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev. Open: 1.2528
• Prev. Close: 1.2608
• % chg. over the last day: +0.63%

Yesterday, the USD/CAD currency pair showed a strong upward movement with an increase of +0.63%. At the moment, the currency pair is above the moving average, the MACD indicator is in the positive zone. Based on the above, it is worth buying the instrument. There is a strong news background expected to be in Canada today, so it’s worth limiting your risks when trading this instrument.

Trading recommendations

• Support levels: 1.2559,1.2475,1.2364
• Resistance levels: 1.2628,1.2736

At the moment, it is best to consider buying. You need to look for an entry point after a price rolls back to the level of 1.2559.

Alternative scenario:

after the price breaks through and fixes below the level of 1.2559, you can open sell deals to the level of 1.2475.