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Analytics 23.04


This week's focus is on PMI indices. With the opening of trading, the EUR / USD currency pair behaves very restrained, the entire Asian session was traded in a narrow corridor (up to 20 points). The currency pair is currently trading below all moving averages (MA200, MA50, MA20 on H1).
The pair is under pressure. The downward moving average for 20 periods limits the space for the growth of the pair. The RSI index, which is in the range of 30-40, is still limited by the downtrend line since April 17.
The intraday tendency of the pair to fall remains, and we can expect its return to levels near the April 20 low at 1.2250, and then to 1.2225. The key resistance is located at 1.2310.
The main support and resistance lines for today's pair: resistance: 1.2285; 1.2310; 1.2360
support: 1.2250; 1.2225; 1.2180




The focus this week on GDP data in the UK. The currency pair GBP / USD is trading very restrained and is below all moving averages. The growth of the pair is organic MA20 on H1 in the region of 1.4030.
Moving averages for 20 and 50 periods decrease and increase pressure on the pair, and also become strong resistance levels.
The pair demonstrates a sequence of lower highs and lower lows since April 19, which confirms negative prospects. The downward momentum is amplified by the falling moving averages for 20 and 50 periods. The RSI index indicates the pair's tendency to fall. Until the level of 1.4045 is broken, the previous high, the pair is aimed at 1.3985 and 1.3950. With a break above 1.4045, it will recover to 1.4090 and 1.4140. Do not forget to put S \ L. And do not forget that the GBP / USD currency pair is uptrend.
The main support and resistance lines for today's pair: resistance: 1.4045; 1.4090; 1.4140.
Support: 1.4000; 1.3985; 1.3950.



USD / JPY is trading above all moving averages of MA200 on H1. Bulls at the helm.
On the intraday 30-minute chart, the pair is trading near the upper border of the bull channel, which starts on April 17, which indicates its propensity for growth. The remaining upward momentum is also confirmed by the RSI index, which is in the region of 60. In addition, the pair's propensity for growth is also supported by moving averages over 20 and 50 periods.
With growth, the pair is targeting 108.05 and 108.35.
A breakthrough of key support at 107.50 will signal a bearish reversal.
Do not forget that globally for today, the trend for the pair is still descending. So be careful with shopping. Do not forget to minimize your risks (S / L).
The main support and resistance lines for the pair today:
resistance: 107.90; 108.35; 108.60
support: 107.50; 107.05; 106.80