The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.2168
Prev Close: 1.2227
% chg. over the last day: +0.48%
On Thursday, the EUR/USD currency pair continued to grow and added 0.48%. A lot of macroeconomic statistics from Europe are expected today. Volatility will be higher.
Trading recommendations
Support levels: 1.2202, 1.2168, 1.2138, 1.2115, 1.2074, 1.2026, 1.2002, 1.1957
Resistance levels: 1.2243
The trend is still bullish. The price is trading above the moving average. The MACD indicator returned to the positive area. The best entry points to join the uptrend took place yesterday. Catching the trend is much more difficult. Traders need to wait for a pullback to the support level.
Alternative scenario: if the price breaks down through the 1.2138 support level and holds below, the general uptrend is likely to be broken.
News feed for 2021.05.21:
- France Flash Manufacturing PMI (m/m)at 10:15 (GMT+3);
- France Flash Services PMI (m/m) at 10:15 (GMT+3);
- Germany Flash Manufacturing PMI (m/m) at 10:30 (GMT+3);
- Germany Flash Services PMI (m/m) at 10:30 (GMT+3);
- Eurozone Flash Manufacturing PMI (m/m) at 11:00 (GMT+3);
- Eurozone Flash Services PMI (m/m) at 11:00 (GMT+3);
- ECB President Lagarde Speaks at 14:00 (GMT+3);
- US Flash Manufacturing PMI (m/m) at 16:45 (GMT+3).
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.4104
Prev Close: 1.4189
% chg. over the last day: +0.60%
At the moment, the British pound is strongly correlated with the euro. The GBP/USD price increased by 0.6% yesterday. The upward trend will continue in the near future.
Trading recommendations
Support levels: 1.4110, 1.4075, 1.3996, 1.3913,1.3835, 1.3801, 1.3756, 1.3690
Resistance levels: 1.4207
The trend remains bullish. The price is above the moving average. The MACD indicator has entered the positive area. It is recommended for traders to look for buy deals from the support levels.
Alternative scenario: if the price breaks down through the 1.4075 support level and holds below, the bullish scenario is likely to be canceled.
News feed for 2021.05.21:
- UK Retail Sales (m/m) at 09:00 (GMT+3);
- UK Flash Manufacturing PMI (m/m) at 11:30 (GMT+3);
- UK Flash Services PMI (m/m) at 11:30 (GMT+3).
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 109.19
Prev Close: 108.87
% chg. over the last day: -0.37%
Buyers could not keep the price above the support level of 108.87. The downtrend is likely to continue. This week, the head of the Bank of Japan announced a possible increase in stimulus measures for a faster economic recovery. Such a step will have a negative impact on the national currency.
Trading recommendations
Support levels: 108.66, 108.44, 108.19,107.77, 107.47, 107.04
Resistance levels: 108.87, 109.40, 109.64, 109.95, 110.51
On the H1 timeframe, the trend remains bearish, and the price is trading below the moving average. The MACD indicator has shifted into the negative area with no signs of divergence. Traders are better to look for sell positions from the resistance levels.
Alternative scenario: if the price rises above 109.40, the general uptrend is likely to resume.
News feed for 2021.05.21:
- Japan Consumer Price Index (m/m) at 02:00 (GMT+3).
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.2124
Prev Close: 1.2057
% chg. over the last day: -0.56%
The USD/CAD currency pair could not break out through the change priority level of 1.2137. Sellers pushed the price down confidently, and this movement was impulsive, indicating an increase of the sales.
Trading recommendations
Support levels: 1.2048, 1.1944
Resistance levels: 1.2137, 1.2251, 1.2321, 1.2388, 1.2414, 1.2519
The MACD indicator is back below 0. The price is trading below the moving average, the downtrend continues. The best strategy for traders under such market conditions is to work within the trend and look for sell deals from the resistance levels.
Alternative scenario: if the price breaks out through the 1.2137 resistance level and holds above, a local corrective uptrend is likely to form.
News feed for 2021.05.21:
- Canada Core Retail Sales (m/m) at 15:30 (GMT+3);
- Canada Retail Sales (m/m) at 15:30 (GMT+3).
