The Analytical Overview Of The Main Currency Pairs - Wednesday, Apr. 14

The EUR/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.1909
  • Prev Close: 1.1947
  • % chg. over the last day: +0.32%

The euro continued to rise against the US dollar on the back of strong ZEW performance and higher yields on German Bonds. Also, the previous comments of Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen provide support for the bulls in the euro.

Trading recommendations

  • Support levels: 1.1836, 1.1704
  • Resistance levels: 1.1990, 1.2113

The main scenario for EUR/USD is buying. The technical picture looks bullish. The MACD is above zero, while convergence has formed, indicating a greater likelihood of growth. The ADX is reacting strongly to the northern impulse, showing a rise in bullish pressure.

Alternative scenario: if the price consolidates below the level of 1.1905, the pair may return to the decline to 1.1836.

(Click on image to enlarge)

EUR/USD

There is no news feed for today.

The GBP/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.3738
  • Prev Close: 1.3748
  • % chg. over the last day: +0.07%

The sterling rose on Tuesday amid continuing correction in the US dollar and strong manufacturing output. The Office for National Statistics reported industrial growth in February by 1.3%, while economists' forecast was 0.5%.

Trading recommendations

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

The main scenario in GBP/USD is buying. The pair came close to the first support level and rebounded. The ADX reacted strongly to Tuesday's northern impulse, indicating an increase in bullish pressure.

Alternative scenario: if the pair consolidates below 1.3735, the pound may move to decline to 1.3680.

(Click on image to enlarge)

GBP/USD

There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:

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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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