The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.15835
Open: 1.15699
% chg. over the last day: -0.15
Day’s range: 1.15537 – 1.15657
52 wk range: 1.0571 – 1.2557
On Friday, there was a variety of trends on the EUR/USD currency pair. Ambiguous economic reports on the US labor market were published. At the moment, the EUR/USD currency pair is consolidating. Demand for the US dollar is still high. The key support and resistance levels are 1.15500 and 1.15750, respectively. We recommend opening positions from these marks.
Today, the publication of important news from the US and the Eurozone is not expected.
The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.
The MACD histogram is located in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.
Stochastic Oscillator is in the neutral zone, the %K is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 1.15500, 1.15000
Resistance levels: 1.15750, 1.16100, 1.16400
If the price fixes below the support level of 1.15500, the EUR/USD quotes are expected to fall. The movement is tending to 1.15100-1.14900.
Alternative option. If the price fixes above the resistance level of 1.15750, it is necessary to consider purchases of EUR/USD. The movement is tending to 1.16100-1.16400.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.30115
Open: 1.29952
% chg. over the last day: -0.05
Day’s range: 1.29723 – 1.29996
52 wk range: 1.2361 – 1.4345
Last week, aggressive sales were observed on the GBP/USD currency pair. It should be recalled that the Bank of England raised the key interest rate by 25 basis points to 0.75%. At the same time, the regulator said that in the near future the issue of further tightening of the monetary policy would not be considered. The central bank is concerned about the consequences of Brexit. At the moment, the GBP/USD quotes are moving in the range of 1.29650-1.30000. The positions should be opened from these marks.
The news feed on the UK economy is calm.
Indicators point to the power of sellers. The price has fixed below 50 MA and 200 MA.
The MACD histogram is in the negative zone, below the signal line, which gives a strong signal to sell GBP/USD.
Stochastic Oscillator is located in the neutral zone, the %K line is crossing the %D line. There are no accurate signals.
Trading recommendations
Support levels: 1.29650, 1.29300
Resistance levels: 1.30000, 1.30400, 1.30800
If the price fixes below 1.29650, it is necessary to look for entry points to the market to open short positions. The movement is tending to 1.29300-1.29000.
Alternative option. If the price fixes above the already “mirror” resistance of 1.30000, the GBP/USD quotes are expected to rise. The movement is tending to 1.30400-1.30600.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.30187
Open: 1.29925
% chg. over the last day: +0.18
Day’s range: 1.30013 – 1.30103
52 wk range: 1.2059 – 1.3795
The technical pattern on the USD/CAD currency pair is still ambiguous. On Friday, a positive report on Canada’s trade surplus was published. At the moment, the trading instrument is in a sideways trend. Local support and resistance levels are 1.29900 and 1.30200, respectively. We recommend opening positions from these marks.
The news feed on the economy of Canada is calm.
Indicators do not send accurate signals. The price is testing 50 MA.
The MACD histogram is near 0 mark.
Stochastic Oscillator is located in the neutral zone, the %K line has crossed the %D line. There are no accurate signals.
Trading recommendations
Support levels: 1.29900, 1.29600
Resistance levels: 1.30200, 1.30600, 1.31000
If the price fixes above the resistance level of 1.30200, we recommend considering purchases of USD/CAD. The target movement level is 1.30600-1.30800.
Alternative option. If the price fixes below 1.29900, the USD/CAD quotes are expected to decline. The movement is tending to 1.29600-1.29400.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 111.634
Open: 111.214
% chg. over the last day: -0.35
Day`s range: 111.231 – 111.267
52 wk range: 104.56 – 114.74
On Friday, there were aggressive sales on the USD/JPY currency pair. The decrease in quotes exceeded 60 points. At the moment, the USD/JPY quotes are consolidating. The trading instrument has the potential for further reduce. Local support and resistance levels are 111.150 and 111.400, respectively. The positions should be opened from these marks.
The news feed on the economy of Japan is calm.
Indicators do not send accurate signals. The price has crossed 200 MA.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/JPY.
Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which also indicates a decline in quotes.
Trading recommendations
Support levels: 111.150, 110.850, 110.650
Resistance levels: 111.400, 111.700, 112.000
If the price fixes below 111.150, the USD/JPY quotes are expected to fall. The movement is tending to 110.850-110.650.
Alternative option. If the price fixes above 111.400, it is necessary to consider purchases of USD/JPY. The movement is tending to 111.700-112.000.
