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TECHNICAL ANALYSIS AT 17/08/2020 FOR EURUSD, GBPUSD, USDCAD, USDJPY

17 August 2020, 12:19

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For this analysis I use iPump indicator

https://www.mql5.com/en/market/product/39895

EUR / USD

On Friday, the EUR / USD pair was trading higher and closed the day in positive territory around $ 1.1840. The pair has also increased slightly today, rising to $ 1.1865. On the hourly chart, EUR / USD has broken through and consolidated above the MA line (200) H1 ($ 1.1565). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the pair remains above MA 200 H1, it is necessary to look for buy entry points to form a correction.

Resistances are at: $ 1.18671 $ 1.1900-15, $ 1.2000

Support levels are located at: $ 1.1829, $1,1780, $ 1.1755,

The main scenario for the pair's advance is continued growth to $ 1.1900 (August 5 high). An alternative scenario implies final consolidation below MA 200 H1, followed by a decline to $ 1.1710 (Aug 12 minimum).

GBP / USD

On Friday, the GBP / USD pair was trading higher and closed the day in positive territory around $ 1.3085. Today the pair was trading in a narrow range of $ 1.3090-05, staying close to Friday's close. On the hourly chart, GBP / USD is testing resistance - the MA (200) H1 ($ 1.3085) moving average line. On the four-hour chart, the pair remains above the MA 200 H4 line. Based on the foregoing, it is probably worth adhering to the southern direction in trading and until the pair finally consolidates above MA 200 H1, it is necessary to look for a sell entry point to form a correction.

Resistances are at: $ 1.3140, $ 1.3185-00, $ 1.3280

Support levels are located at: $ 1.3050, $ 1.3021, $ 1.3004

The main scenario for the pair's advance is the continuation of the fall to $ 1.3050 (August 14 minimum). An alternative scenario implies consolidation above the MA 200 H1 level with a subsequent rise to $ 1.3185 (Aug 6 high).

USD / CAD

On Friday, the USD / CAD pair was trading higher and closed the day in positive territory around the C $ 1.3260 price. Today the pair was trading in a narrow range of $ 1.3245-60, staying close to Friday's closing price. On the hourly chart, USD / CAD is still trading below the moving average MA line (200) H1 (C $ 1.3290). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the pair remains below MA 200 H1, it is necessary to look for a sell entry point to form a correction.

Resistances are at the levels: С $ 1,3269, 1.3295, С $ 1.3345,

Support levels are located at: From $ 1.3204, From $ 1.31902

The main scenario for the pair's advance is the continuation of the decline to C $ 1.3205 (minimum on August 14). An alternative scenario is the final consolidation above MA (200) H1 with a subsequent rise to C $ 1.3390 (maximum on August 10).

USD / JPY

On Friday, the USD / JPY pair was trading lower and closed the day in the red around the Y106.55 price. Today the pair was trading in a narrow range of Y106.45-65, staying close to Friday's close. On the hourly chart, USD / JPY is still trading above the MA line (200) H1 (Y106.15). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the pair remains above MA 200 H1, it is necessary to look for buy entry points to form a correction.

Resistances are at the levels: Y106.60, Y106.5, Y107.50

Support levels are located at: Y105.95, Y105.70

The main scenario for the pair's advance is the continuation of the upward movement to Y107.00 (maximum of August 13). An alternative scenario suggests consolidation below MA 200 H1, followed by a decline to Y105.55 (Aug 7 minimum).