The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.16160
Open: 1.16776
% chg. over the last day: +0.33
Day’s range: 1.16625 – 1.16970
52 wk range: 1.0571 – 1.2557
Yesterday, the US dollar continued to lose grounds relative to the single currency. The EUR/USD quotations growth exceeded 70 points. Support was provided by positive data on the business climate in Germany from IFO. At the moment, the trading instrument is testing the round level of 1.17000. The local support is 1.16450. In the near future, the further growth of the EUR/USD quotes is not excluded. We recommend opening positions from the key levels.
The news feed on 2018.08.28:
CB consumer confidence index in the USA at 17:00 (GMT+3:00).
Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.
The MACD histogram is located in the positive zone, but below the signal line, which gives a weak signal to buy EUR/USD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 1.16450, 1.16000, 1.15350
Resistance levels: 1.17000, 1.17500
If the price fixes above the round level of 1.17000, further growth of the EUR/USD currency pair is expected. The movement is tending to 1.17400-1.17600.
Alternative option. If the price fixes below the support level of 1.16450, we recommend considering selling EUR/USD. The movement is tending to 1.16000.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.28370
Open: 1.28893
% chg. over the last day: +0.31
Day’s range: 1.28615 – 1.29014
52 wk range: 1.2361 – 1.4345
Yesterday, the bullish sentiment prevailed on the GBP/USD currency pair. At the moment the quotes are moving in the flat. The key levels of support and resistance are: 1.28600 and 1.29000 respectively. The trading instrument is tending to recover. We recommend you to keep track of the latest information on Brexit. Positions must be opened from the key levels.
Today, the news feed on the UK economy is calm.
Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy GBP/USD.
Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 1.28600, 1.28300, 1.28000
Resistance levels: 1.29000, 1.29350, 1.29500
If the price fixes above 1.29000, further growth of the GBP/USD currency pair is expected. The target level of movement is 1.29350-1.29500.
Alternative option. If the price fixes below 1.28600, we recommend to consider sales of GBP/USD. The target movement level is 1.28300-1.28000.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.30135
Open: 1.29669
% chg. over the last day: -0.36
Day’s range: 1.29495 – 1.29823
52 wk range: 1.2059 – 1.3795
Yesterday, the USD/CAD currency pair held the offer zone of 1.30500-1.30650, which triggered aggressive sales. The trading instrument has updated local extremes. The United States and Mexico reached a new agreement on the future of the North American Free Trade Area (NAFTA). Currently, the quotes are consolidating in the range of 1.29500-1.29850. The USD/CAD currency pair is tending to decrease. Positions must be opened from the key levels.
The news feed on Canada’s 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, but above the signal line, which gives a weak signal to sell USD/CAD.
Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.
Trading recommendations
Support levels: 1.29500, 1.29000
Resistance levels: 1.29850, 1.30150, 1.30500
If the price fixes below 1.29500, the USD/CAD quotes are expected to decline further. The movement is tending to the round level of 1.29000.
Alternative option. If the price fixes above the resistance level of 1.29850, it is necessary to consider buying USD/CAD. The movement is tending to 1.30150-1.30300.
The USD/JPY currency pair:
Technical indicators of the currency pair:
Prev Open: 111.314
Open: 111.048
% chg. over the last day: -0.14
Day’s range: 110.989 – 111.356
52 wk range: 104.56 – 114.74
There is an ambiguous technical pattern on the USD/JPY currency pair. The quotes are in a sideways trend. Local support and resistance levels are: 111.100 and 111.350, respectively. Investors expect additional drivers. We recommend you to pay attention to the news feed on the US economy.
The publication of important economic reports from Japan is not planned.
Indicators do not send accurate signals: the price has crossed 50 MA.
The MACD histogram is near the 0 mark.
Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which indicates a fall in USD/JPY.
Trading recommendations
Support levels: 111.100, 110.750
Resistance levels: 111.350, 111.500
If the price fixes above the resistance level of 111.350, it is necessary to consider buying USD/JPY. The movement is tending to 111.500-111.700.
Alternative option. If the price fixes below the 111.100 level, the correction of the USD/JPY currency pair is expected. The movement is tending to 110.750-110.600.
