EURUSD - Technical analysis for the currency pair EUR/USD
At the trading in Asia on Monday the currency pair EURUSD is trading with increasing quotes, staying within the current support level around 1.0535 with the resistance level around 1.0656. The four-hour chart is progressing slightly above the exponential moving averages, demonstrating the upside potential of this market in the short term.
The moving averages with periods of 21 and 55 days continue to move upward, maintaining the divergence, which indicates in favor of a bullish direction of the current market trend in the short term.
The technical picture shows the buyers losing the advantage, as the MACD histogram has fallen to the area just below its central line, while the indicator of the strength of the current movement RSI stays just above the 50 line, confirming a slight bullish potential of this market in the short term.
Thus, we intend to buy this trading instrument today.
GBPUSD - Technical analysis for the currency pair GBP/USD
With the opening of trading in Asia on Monday, this currency pair is trading with a slight increase in quotations, remaining within the current support level at 1.2119 and resistance level at 1.2233, where the market chart progresses between the exponential moving averages with periods of 21 and 55 days, demonstrating the fading bullish potential of this market in the short term.
On the four-hour chart, the moving averages continue to turn downward, reducing the divergence, which speaks in favor of the emergence of a downtrend in this market in the short term.
The technical picture also demonstrates the loss of the buyers' advantage, as the MACD histogram remains in the area below its center line, and the indicator of the strength of the current movement RSI remains near the 40 line, confirming the bearish potential in this market in the short term.
Thus, we intend to sell this trading instrument today.
USDJPY - Technical analysis for the currency pair USD/JPY
During the Asian trading session on Monday, the currency pair USDJPY traded with a slight decrease in quotations, remaining within the current support level at 135.26 and the resistance level around 136.74.
The moving averages with the period of 21 and 55 days continue to move downward, maintaining a noticeable divergence and demonstrating the emergence of a bearish trend. The four-hour chart is progressing below the exponential moving averages, which also indicates in favor of the downward movement of this market in the short term.
The technical picture shows a slight strengthening of the sellers, but the buyers retain their potential because the MACD histogram remains in the area above its center line, and the strength indicator of the current movement RSI remains near the 40 line, promising strengthening of the downtrend in this market in the short term.
Thus, we intend to sell this trading instrument only if the support line is broken.
USDCHF - Technical analysis for the currency pair USD/CHF
At the trading in Asia on Monday this currency pair is trading with decrease in quotations, staying within the current support level at 0.9262 and resistance level near 0.9351.
On the four-hour chart the moving averages with the period of 21 and 55 days continue their downward movement, keeping the divergence, which speaks in favor of the withering bearish direction of this market today. The four-hour chart of the quotes progresses between the exponential moving averages, which is the evidence of weakening of the descending trend of this market in the short term.
The technical picture demonstrates the buyers' advantage, as the MACD histogram went to the area just above its center line, and the indicator of the strength of the current movement RSI is progressing near the 50 line, confirming the instability of the current market trend in the short-term outlook.
Thus, we intend to stay out of this market today.