EURUSD - Technical analysis of the currency pair EUR/USD
During the Asian trading on Wednesday the EUR/USD currency pair is trading with small increase in quotations, staying within the current support level around 1.0579 with the resistance level around 1.0668. The four-hour chart is progressing just above the exponential moving averages, demonstrating the weak upside potential of this market in the short term.
The moving averages with periods of 21 and 55 days continue to move upward, but have significantly slowed down and reduced the divergence, which indicates in favor of a bearish direction of the current market trend in the short term.
The technical picture shows a slight advantage for the sellers, as the MACD histogram remains in the area just below its central line, while the indicator of the strength of the current movement RSI is progressing just above the 50 line, confirming the weakness of the downside potential of this market in the short term.
Thus, we intend to sell EURUSD today.
GBPUSD - Technical analysis of the currency pair GBP/USD
With the opening of trading in Asia on Wednesday, this currency pair is trading with a slight decrease in quotations, remaining within the current support level at 1.2058 and resistance level at 1.2230, where the market chart progresses slightly below the exponential moving averages with a period of 21 and 55 days, demonstrating the preservation of the downward potential of this market in the short term.
On the four-hour chart the moving averages continue a barely perceptible downward movement, reducing the divergence, which speaks in favor of the downtrend of this market in the short term.
The technical picture also shows the remaining advantage of the sellers, as the MACD histogram remains in the area just below its central line, while the indicator of the strength of the current movement RSI is progressing near the 40 line, confirming the bearish potential of this market in the short-term outlook.
Thus, we intend to continue to sell GBPUSD today.
USDJPY - Technical analysis of the currency pair USD/JPY
During the Asian trading session on Wednesday, the currency pair USD/JPY traded with active decrease in quotations, remaining within the current support level at 131.61 and the resistance level around the 133.00 mark.
The moving averages with the period of 21 and 55 days continue to move downward, accelerated and increased divergence, demonstrating the strengthening of the bearish trend. The four-hour chart is progressing well below the exponential moving averages, which also indicates in favor of the downward movement of this market in the short term.
The technical picture also shows the strengthening of the sellers, increasing the downside potential of this market because the MACD histogram remains in the area well below its center line, and the indicator of the strength of the current movement RSI has fallen to the area of the line 30, promising continuation of the downtrend of this market in the short term.
Thus, we intend to sell USDJPY today as well.
USDCHF - Technical analysis of the currency pair USD/CHF
At the trades in Asia on Wednesday this currency pair traded with decrease in quotations, remaining within the current support level at 0.9250 and resistance level near 0.9353.
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 continuation of the bearish direction of this market today. The four-hour chart of the quotes progresses below the exponential moving averages, which also indicates the descending trend of this market in the short term.
The technical picture shows the advantage of the sellers, because the MACD histogram has entered the area just below its central line, and the indicator of the strength of the current movement RSI remains near the 40 line, confirming the continuation of the descending trend of this market in the short-term outlook.
Thus, we intend to sell the USDCHF today.