Technical analysis for the EUR/USD currency pair
During Asian trading on Wednesday, the EUR/USD currency pair traded higher in quotes, remaining within the current support level of 1.0272 with a resistance level of 1.0393.
The 4-hour chart broke above the exponential moving averages, suggesting the market may be on the upside in the short term. The 21-day and 55-day moving averages have slowed down, but continue to rise and still diverge slightly. This indicates that the current market trend is moving in a bullish direction in the short term.
The technical picture also shows a buyer's edge as the MACD histogram rises above its midline and the RSI, a measure of the strength of the current move, rises to the 60 line, indicating bullishness in this market. I'm checking for an opportunity. in the near future. So today I am going to buy this trading product.
Technical analysis for the GBP/USD currency pair
The pair traded higher at the Asian open on Wednesday, staying within the current 1.1832 support and 1.1926 resistance level, with market charts breaking through the 21-period exponential moving average. And 55 days, which indicates the appearance of bullish potential for this market in the short term.
On the 4-hour chart, the moving averages continue to rise and maintain a slight divergence.
The technical picture also shows that the buying edge has been lost as the MACD histogram returned to the area just above the midline and the RSI strength indicator for the current move rose to the 60 line. Confirming the bullish potential in the market. in the near future. So today I am going to buy this trading product.
Technical analysis for the USD/JPY currency pair
The USD/JPY currency pair rose during Asian deals on Wednesday, remaining within the current support level of 140.13 and the resistance level of 142.09. The 21-day and 55-day moving averages slowed down and consolidated to reduce the divergence, indicating an increase in the bullish trend.
The 4-hour chart is moving between exponential moving averages, indicating an uptrend for this market in the short term.
Technically, as the MACD histogram remains well above its midline and the RSI, a measure of the strength of the current move, remains near the 50 line, promising a continuation of this market uptrend, the chart also shows buying strength. in the short term. So today I am going to buy this trading product.
Technical analysis for the USD/CHF currency pair
In Asian deals on Wednesday, the currency pair fell, trading around the current support levels of 0.9422 and the resistance level of 0.9560. On the 4-hour chart, the 21-day and 55-day moving averages resumed their decline and maintained a noticeable divergence. This testifies in favor of the bearish direction of this market today.
The 4-hour market chart is just below the exponential moving average line, indicating that the market is continuing its downtrend in the short term.
Technical images also show seller dominance as the MACD histogram returns to just below its midline and the RSI, an indicator of the current strength of the move, falls to the 40 line, confirming the stability of this downtrend. Short term market. Therefore, we plan to sell this trading product today.