The Analytical Overview Of The Main Currency Pairs - Wednesday, Apr. 28

Alternative scenario: if the price breaks down the support level 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.

(Click on image to enlarge)

GBP/USD

News feed for 2021.04.28:

  • – ECB President Christine Lagarde Speaks at 17:00 (GMT+3);
  • – FOMC Rate Decision at 21:00 (GMT+3);
  • – FOMC Press Conference at 21:30 (GMT+3).

The USD/JPY currency pair

Technical indicators of the currency pair:

  • Prev Open: 108.06
  • Prev Close: 108.73
  • % chg. over the last day: +0.6%

After activating the alternative scenario, the USD/JPY pair moved into a local uptrend, which is growing into a full uptrend and may change the overall priority. The price broke through the moving average and held above it, while the MACD is in the positive zone without any signs of divergence.

Trading recommendations

  • Support levels: 108.54, 108.19,107.77, 107.47, 107.04, 105.92
  • Resistance levels: 109.04, 109.36

The price is forming a well-defined upward channel. The best strategy in these market conditions is to buy from an upward trend line within the channel, as well as from the support levels. The nearest target is the resistance level of 109.04, but if the growth dynamics remain bullish, it is likely to be broken through.

Alternative scenario: if the price drops below 108.19 again, with a high probability, the general downtrend will continue.

(Click on image to enlarge)

USD/JPY

News feed for 2021.04.28:

  • – ECB President Christine Lagarde Speaks at 17:00 (GMT+3);
  • – FOMC Rate Decision at 21:00 (GMT+3);
  • – FOMC Press Conference at 21:30 (GMT+3).

The USD/CAD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.2393
  • Prev Close: 1.2400
  • % chg. over the last day: +0.01%
View single page >> |

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, ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.