Forecasts and signals from trader ForexNinja

At trading in Asia on Friday, the EUR/USD currency pair is trading with a decrease in quotations, remaining within the current support level at 1.0368 with the resistance level at 1.0531. The four-hour chart progresses slightly significantly below the exponential moving averages, demonstrating a strengthening downward trend in this market in the short term.The moving averages with a period of 21 and 55 days have accelerated and continue to move downwards, increasing the divergence, which demonstrates the strengthening of the bearish potential of this market in the short term.The technical picture also indicates the sellers' advantage, since the MACD histogram remains in the area below its central line, and the strength indicator of the current RSI movement has dropped to the 30 line, confirming the downward potential of this market in the short term.Thus, we intend to sell this trading instrument today.

With the opening of trading in Asia on Friday, this currency pair is trading with a decrease in quotations, remaining within the current support level at 1.2171 and the resistance level at 1.2377, where the market chart progresses below the exponential moving averages with a period of 21 and 55 days, demonstrating the continuation of the downward trend in this market in the short term.On the four-hour chart, the moving averages are still moving down and maintain a divergence, which indicates in favor of maintaining a downtrend.The technical picture also demonstrates a weak advantage of sellers, since the MACD histogram remains in the area just below its central line and the strength indicator of the current RSI movement has fallen below the 40 line, confirming the weak bearish potential in this market in the short term.Thus, we intend to sell this trading instrument today.

During the Asian trading session on Friday, the USD/JPY currency pair is trading in different directions with a slight decrease in quotations, remaining within the current support level at 128.06 and the resistance level around 130.26.Moving averages with a period of 21 and 55 days turned down and formed a sell signal - EMA21 crossed EMA55 from top to bottom and now increase the divergence, promising a continuation of the downtrend. The four-hour chart progresses below exponential moving averages, which confirms the trend change in this market to a downward one in the short term.The technical picture also speaks in favor of sellers, since the MACD histogram is developing in the area below its central line, and the strength indicator of the current RSI movement has fallen below the 40 line, demonstrating bearish potential in this market in the short term.Thus, we intend to continue selling this trading instrument today.

At trading in Asia on Friday, this currency pair is trading with a slight decrease in quotations, remaining within the current support level at 0.9912 and the resistance level around 1.0047.On the four-hour chart, the moving averages with a period of 21 and 55 continue to move upwards, slowly increasing the divergence, which promises the continuation of the uptrend in this market. The four-hour quotation chart is developing above exponential moving averages, indicating the preservation of the upward potential of this market in the short term.The technical picture also demonstrates the advantage of buyers, since the MACD histogram has entered the area above its central line, and the strength indicator of the current RSI movement has dropped to the 60 line, which indicates in favor of the upward potential of this market in the short term.Thus, we intend to buy this trading instrument today.

On the daily chart, the pair continued to decline after closing below the previous low. The pair also overcame the support level of 159.10, which can be considered the "neck line" of the head-shoulders model from the end of March to the beginning of May. This is a bearish signal, and could potentially lead to a significant decrease of up to 900 points from the "neck line", according to the size of the model. It is also important to close below the support level of 157.60 (at the highs of January and February). This is a strong level, and an easy overcoming of it shows the weakness of support, and the ease of continuing the decline. According to the directional movement indicators, the trend has become a decline: DM is above DM+, the MACD line has a negative slope, the MACD histogram is in the negative zone.On the four-hour chart, the decline accelerated after overcoming the lows of May and the end of April around 160.00. As a result, the pair went out of range and the trend was a decline. According to the indicators, this can be seen by the increase in the excess of DM+ over DM-, the decrease in the MACD histogram in the negative zone, the negative slope of the MACD line. There is no sign of a slowdown in the decline now, and it seems more likely that it will continue.Resistance levels 157.60; 159.10Support levels: 156.00

On the daily chart, the pair's decline continued, it is below the next "round" level of 0.6900. A bearish signal is the formation of a "shooting star" below 0.7000 with a potential confirmation on Thursday and a decline from 0.7000 after an upward rebound, when the 0.7000 level was already a resistance. While the pair is below 0.700, the continuation of the decline seems more likely. There is a bullish divergence between the lows of the pair and the MACD histogram, which increases the probability of an upward rebound, but this signal has not yet been confirmed.On the four-hour chart, the pair overcame the level of lows on May 10 slightly above 0.6900 and this level itself. Thus, the corrective upward movement ended and the decline continued. At this scale, there is also a bullish divergence of the minima of the pair and the MACD histogram. If the recovery is above 0.6900, this may be a confirmation of the signal and then the pair may return to 0.7000 (since it would return to the narrow range from which it left). However, while the pair is below 0.6900, a continuation of the decline in the short term seems preferable.Resistance levels: 0.6900; 0.7000

On the daily chart, the pair moved to a decline, as evidenced by the rapid overcoming of the support levels of 136.50 and 135.55. Closing below the important support level of 134.60 would make the nearest target 133.25 (near the February high). Based on the size of the range in April-May, a more distant target may be a zone around 130.00. According to directional movement indicators, the trend is a decline: DM is above DM+, the MACD histogram is in the negative zone, the MACD line has a negative slope. In the case of the formation of a wide-range candle on Thursday, this would also be a bearish signal, since a strong movement usually continues in the short term.  If the level of 134.60 is not overcome, it would leave the pair in the range.On the four-hour chart, the decline became very sharp. In one candle, the pair overcame three support levels.  Going down from the range of 136.50-138.00 suggests that continued decline is preferable. After overcoming the level of 134.60, this level now limits the pair, the absence of a rebound after a strong decline shows that the support is very weak. According to directional movement indicators, the trend is a decline: DM is significantly higher than DM+, the ADX level has increased, the MACD histogram is declining in the negative zone, the MACD line has a negative slope.Resistance levels: 134.60; 135.55Support levels: 133.25; 130.00

The EUR/USD currency pair is trading with an increase in quotations at the Asian auction on Wednesday, remaining within the current support level at 1.0491 with the resistance level at 1.0598. The four-hour chart progresses slightly above exponential moving averages, demonstrating a strengthening upward trend in this market in the short term.At the same time, the moving averages with a period of 21 and 55 days have slowed down and are ready for an upward reversal, reducing the discrepancy, which demonstrates the possibility of the bullish potential of this market in the short term.The technical picture also indicates the advantage of the bulls, since the MACD histogram entered the area slightly above its central line, and the strength indicator of the current RSI movement rose above the 50 line, confirming the upward potential of this market in the short term.