Analytical Overview Of The Main Currency Pairs - Tuesday, Mar. 30

The EUR/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.1792
  • Prev Close: 1.1764
  • % chg. over the last day: -0.24%

On Monday, the euro completely leveled the entire Friday growth. The price closed at last week's lows, which indicated the likelihood of further decline. Positive expectations for the US labor market and negative sentiment in Europe due to new quarantine measures put pressure on the pair.

Trading recommendations

  • Support levels: 1.1746, 1.1688
  • Resistance levels: 1.1889, 1.1990

The main scenario for trading EUR/USD is selling. There are few important events on the economic calendar today, so low volatility is expected. Technical indicators still show the likelihood of the continuation of the smooth downtrend. The ADX continues to show a subtle reaction at the minimum price decline.

Alternative scenario: if the price gains a foothold above the level of 1.1795, the pair may start a corrective rise to 1.1889 or higher.

(Click on image to enlarge)

EUR/USD

News feed for 2021.03.30:

  • – The German Consumer Price Index (CPI) (m/m) (Mar) at 15:00 (GMT+3);
  • – The US CB Consumer Confidence Index (Mar) at 17:00 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.3782
  • Prev Close: 1.3758
  • % chg. over the last day: -0.17%

The sterling showed higher volatility than the euro on Monday. The growth that took place during the European session completely vanished later in the American session. The price bounced off the moving average on the daily chart, and a bearish engulfing candlestick formed, indicating strong bearish pressure.

Trading recommendations

  • Support levels: 1.3680, 1.3610
  • Resistance levels: 1.3812, 1.3846

The main scenario for trading GBP/USD is selling. The technical indicators have changed completely. The ADX has shown a strong reaction to the decline. But the price stays between the moving averages, which may indicate the development of a sideways trend. Based on a combination of factors, there is a moderate southern signal.

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Disclosure: 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, ...

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