The Analytical Overview of the Main Currency Pairs on 2020.11.25

The EUR/USD currency pair

• Prev Open: 1.1839
• Prev Close: 1.1892
• % chg. over the last day: +0.44%

Yesterday, the EUR/USD pair was traded in an uptrend and showed +0.44%. An uptrend is observed on the chart, which indicates the prevalence of purchases on this asset. On the hourly timeframe, the price is being traded above the moving average MA 200. On the H4 timeframe, the situation is similar. The MACD indicator is in the positive zone. Based on the above, it is worth considering only buy positions while the price is above MA200 on H1.

• Support levels: 1.1891, 1.1848, 1.1815, 1.1745
• Resistance levels: 1.1905, 1.1920

The main scenario for trading EUR/USD is looking for buy entry points. If the price breaks through and fixes above 1.1905, it is better to consider purchases. After breaking through the 1.1905 level, quotes may move to the level of 1.1920 and further to the level of 1.2000.

Alternative scenario: if the price fixes below 1.1848 on the H1 timeframe and below MA200 on H1, the currency pair is likely to decline to 1.1815.

• - Core durable goods orders in the US at 15:30 (GMT+2);
• - US GDP at 15:30 (GMT+2);
• - Initial jobless claims in the US at 15:30 (GMT+2);
• - US new home sales at 17:00 (GMT+2);
• - Crude oil inventories at 17:30 (GMT+2);
• - Publication of the FOMC minutes at 21:00 (GMT+2).

The GBP/USD currency pair

• Prev Open: 1.3318
• Prev Close: 1.3362
• % chg. over the last day: +0.33%

Yesterday, the GBP/USD currency pair was traded in the range of 1.3300-1.3370 and closed the day with a result of +0.33%. On the hourly chart, GBP/USD is being traded above the moving average MA (200) H1. The situation is similar on the four-hour chart. The MACD indicator is in the positive zone. There is still an uptrend. Based on the above, it is necessary to look for buy entry points while the pair remains above MA 200 H1.

• Support levels: 1.3314, 1.3263, 1.3195, 1.3105
• Resistance levels: 1.3398, 1.3482

The main scenario: look for buy entry points. A technical analysis figure, Triangle, is drawn on H1. If the price breaks through the upper border of the Triangle and fixes above it, the price may move to the level of 1.3398. If the price breaks and fixes above the level of 1.3398, the price may move to the level of 1.3482. It is also worth noting that divergence is observed on the MACD on the H4 timeframe. This may signal the beginning of a pair correction.

Alternative scenario: if the price fixes below 1.3263, then the asset may fall to $1.3195.

• - Core durable goods orders in the US at 15:30 (GMT+2);
• - US GDP at 15:30 (GMT+2);
• - Initial jobless claims in the US at 15:30 (GMT+2);
• - US new home sales at 17:00 (GMT+2);
• - Crude oil inventories at 17:30 (GMT+2);
• - Publication of the FOMC minutes at 21:00 (GMT+2).
• - UK autumn forecast statement.

The USD/JPY currency pair

• Prev Open: 104.45
• Prev Close: 104.44
• % chg. over the last day: 0%

Yesterday, the USD/JPY currency pair was traded in the range of 104.22-104.70. The pair closed the day with 0%. Today, USD/JPY is being traded at yesterday's close. On the hourly chart, the USD/JPY currency pair has fixed above the moving average MA (200). On the four-hour chart, the price is below MA200. The MACD indicator is in the positive zone, but the divergence is drawn, which signals that the price may fall. Based on the above, one should look at how the currency pair will behave at key levels.

• Support levels: 104.22, 103.65
• Resistance levels: 104.75, 105.12

The main scenario: consider buying an asset. If the price breaks through the level of 104.75 and fixes above it, then the currency pair may move to the level of 105.12.

An alternative scenario assumes consolidation below the level of 104.22 with further fall to the level of 103.65.

• - Core durable goods orders in the US at 15:30 (GMT+2);
• - US GDP at 15:30 (GMT+2);
• - Initial jobless claims in the US at 15:30 (GMT+2);
• - US new home sales at 17:00 (GMT+2);
• - Crude oil inventories at 17:30 (GMT+2);
• - Publication of the FOMC minutes at 21:00 (GMT+2).

The USD/CAD currency pair

• Prev Open: 1.3083
• Prev Close: 1.2997
• % chg. over the last day: -0.65%

The USD/CAD currency pair was traded yesterday in a downtrend and closed with -0.65%. Today, the currency pair is correcting to yesterday's fall. On the H1 timeframe, USD/CAD is below the moving average MA 200. On the four-hour chart, the price is below the moving average. Yesterday, the pair broke through the 1.3038-1.3110 trading channel and fixed below it. You may consider the sale of an asset on the correction.

• Support levels: 1.2990, 1.2928
• Resistance levels: 1.3033, 1.3089, 1.3118, 1.3172

The main scenario: consider the sale of an asset. It is better to look for a sell entry point when the price is corrected on lower timeframes near the level of 1.3033. The price may fall to the level of 1.2990.

Alternative scenario: if the price breaks through the level of 1.3089 and fixes above the 200 moving average on H1, one should consider a buy position to the level of 1.3172.

• - Core durable goods orders in the US at 15:30 (GMT+2);
• - US GDP at 15:30 (GMT+2);
• - Initial jobless claims in the US at 15:30 (GMT+2);
• - US new home sales at 17:00 (GMT+2);
• - Crude oil inventories at 17:30 (GMT+2);
• - Publication of the FOMC minutes at 21:00 (GMT+2).

by JustMarkets, 2020.11.25

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.