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02.04.2020 10:01 AM
Technical analysis recommendations for EUR/USD and GBP/USD on April 2

Economic calendar (Universal time)

The most important indicators in today's economic calendar are:

index of business activity in the construction sector (8:30 - UK);

the number of initial applications for unemployment benefits (12:30 - USA).

EUR / USD

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The pair does not develop movement, using as a zone of attraction a daily cloud (1.1009 - 1.0894), strengthened by the levels of the daily cross of Ichimoku (1.0965 Fibo Kijun + 1.0892 Tenkan). In case of consolidation in the bearish zone relative to the daily cloud, the following bearish landmarks will be the areas 1.0791-78 (historical level + the first reference of the weekly target for breakdown of the cloud) and 1.0636 - 1.0594 (minimum extremum + 100% level of working out the target). The most significant resistance at this stage can be noted in the range of 1.1067 - 1.1167. Now, consolidating above will eliminate the existing Ichimoku crosses at the daily and weekly time intervals, as well as enlist the support of a short-term month.

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Currently, the advantage at lower time intervals belongs to the players on the decline. The intraday supports are the classic Pivot levels - 1.0897 (S1) - 1.0832 (S2) - 1.0761 (S3). Moreover, the most significant resistance zone is located today at 1.0968 (central Pivot level) and 1.1013 (weekly long-term trend). Consolidation above will change the current balance of forces, and the maximum extremum (1.1147) will become the most important reference point, additional resistance can be noted at 1.1033 (R1) - 1.1104 (R2) - 1.1169 (R3).

GBP / USD

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Players on the rise, having taken a break, do not allow the development of a full-fledged retreat. As a result, we see a slowdown and the emergence of consolidation between important landmarks - resistance met, led by the consolidation of the 1.2462 weekly medium-term trend and the monthly short-term, and the current support, with the greatest strengthening by 1.2305 (daily medium-term Trend + weekly short-term trend). In this regard, reliable fixing below these guidelines can provoke the development of a situation with a predominance of the moods of one of the parties. The following resistances are located today at 1.2543 - 1.2670-1.2711, while support still remains at 1.2213 - 1.2094 - 1.1965.

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On H1, lateral movement continues to develop. The central Pivot level (1.2377) is used as the center of attraction. At the same time, the weekly long-term trend (1.2329) was as close as possible to the price chart. The breakdown of the trend and its reversal can help bears return to action. In turn, players to increase can also use the strength of the level as additional support, increasing their chances of exiting the correction zone and sideways movement (1.2484).

Ichimoku Kinko Hyo (9.26.52), Pivot Points (classic), Moving Average (120)

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