The Analytical Overview Of The Main Currency Pairs - Monday, Apr. 12

Technical indicators of the currency pair:

  • Prev Open: 1.1913
  • Prev Close: 1.1900
  • % chg. over the last day: -0.11%

The euro fell slightly against the US dollar as part of the technical correction on Friday. As trading volumes were significantly reduced at the end of the week, the currencies of the 10 group entered a correction phase.

Trading recommendations

  • Support levels: 1.1836, 1.1704
  • Resistance levels: 1.1915, 1.1990

The main scenario for EUR/USD is selling. The technical picture looks bearish. The MACD is near zero, and divergence has formed, which indicates an approaching correction. The ADX reacted strongly to the southern impulse, indicating an increase in bearish pressure.

Alternative scenario: if the price manages to gain a foothold above the level of 1.1915, the pair may return to growth to 1.1990.

(Click on image to enlarge)

EUR/USD

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The GBP/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.3730
  • Prev Close: 1.3707
  • % chg. over the last day: -0.17%

The sterling declined on Friday amid correction of the US dollar. The pressure on the British currency is taking place due to the AstraZeneca vaccine situation, which may undermine the vaccination program in the UK.

Trading recommendations

  • Support levels: 1.3705, 1.3680
  • Resistance levels: 1.3848, 1.3929

The main scenario for GBP/USD is selling. The pair has come close to the first support level. As long as the price is below the moving averages, the risk of a breakdown is high. However, the ADX shows a decrease in the southern trend’s potential and a divergence formed on the MACD. It indicates a possible temporary stop in the southern movement.

Alternative scenario: if the pair consolidates above 1.3800, the pound may move upward to 1.3848.

(Click on image to enlarge)

GBP/USD

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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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