Tuesday, 26 March 2019

Overview of 4-hour charts GBP/USD, USD/JPY

Posted by FortFS at 12:23 Labels: ,

EUR / USD

The EUR / USD pair today is trading in a very narrow range amid a lack of news on the market that could have a strong influence on the course of trading. Published in the morning data on the consumer climate index in Germany (fact 10.4, forecast 10.8) and French GDP for the fourth quarter of 2018 (fact 0.3%, forecast 0.3%), had practically no effect on the market.
Against the background of the lack of economic news, the market’s main focus is now on Brexit-related events, which is a negative factor for the European currency. As long as the uncertainty on this issue remains extremely high, there is no big interest in the European and British currencies.
For the dollar today, the main test should be data on CB consumer confidence index and the construction sector. According to the main indicators, experts predict the release of stronger data, so the dollar can strengthen its position in the evening trading.
There are no global changes on the graph. The currency pair demonstrated a rather modest correctional pullback, which met serious resistance already at the nearest level - 1.1320. Accordingly, today from this mark we can expect the resumption of downward movement with the immediate target at 1.1250.
Our recommendations: shorts from 1.1320
GBP / USD

The pair GBP / USD is trading at a moderate decline on Tuesday, waiting for news on Brexit. The day before it became known that Theresa May was going to postpone the vote on the bill on leaving the UK from the EU, agreed with the EU, since the parliament is not yet ready to support it. At the same time, Teresa May continues to lose support of her own cabinet of ministers; on the eve, three ministers resigned immediately, expressing their disagreement with May's policies. They supported the scenario of transferring control over negotiations with the EU to Parliament.
In the near future, the country's parliament should vote on a few more alternative scenarios for resolving the Brexit issue, in order to reduce uncertainty and determine the main direction in which it is worth moving to break the deadlock.
On the chart, the range is developing around the level of 1.1320. At higher time intervals, the bearish trend remains dominant, so the scenario with the price going down out of the range is more likely now. As part of the development of this scenario, we can expect a decrease in quotations to the area of ​​1.3100.
Our recommendations: shorts from 1.3230

USD / JPY

The USD / JPY pair is consolidating in a fairly narrow price range against the background of the absence of strong drivers in the market for the formation of directional price movements.
The currency pair is still influenced by two main factors: the dynamics of the dollar index and the situation in the stock markets. The American dollar at the beginning of the trading week is still trading sideways. On the stock market, the situation also remains uncertain, the market moves between a slight increase and a moderate decrease. Against this background, we should expect further development of the sideways movement in the USD / JPY pair, at least until the beginning of the American trading session, when statistics from the United States may change the balance of the market.
On the chart, the main range of trading can now be designated by the levels of 109.80-110.25. Accordingly, until we see the price fixing beyond one of the boundaries of the outset, the main scenario is to consider is the consolidation in the horizontal channel, with the priority of downside direction.

Our recommendations: shorts from 110.25



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