The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.16158
Open: 1.15791
% chg. over the last day: -0.24
Day’s range: 1.15350 – 1.15474
52 wk range: 1.0571 – 1.2557
Sales are prevailing on the EUR/USD currency pair. Demand for the US currency is still high amid improvements in international trade. At the moment, the key support and resistance levels are: 1.15200 and 1.15700, respectively. We recommend opening positions from these marks. The EUR/USD currency pair has the potential for further decline.
The news feed on the economy of the Eurozone and the US is calm. We recommend paying attention to the speech by the Fed Chairman Powell.
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 EUR/USD.
Stochastic Oscillator is in the oversold zone, the %K line is crossing the %D line. There are no accurate signals.
Trading recommendations
Support levels: 1.15200, 1.14800
Resistance levels: 1.15700, 1.16100, 1.16500
If the price fixes below the support level of 1.15200, the EUR/USD quotes are expected to fall. The movement is tending to 1.14800-1.14600.
Alternative option. If the price fixes above the already “mirror” resistance level of 1.15700, we recommend considering purchases. The target movement level is 1.16100-1.16500.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.30379
Open: 1.30423
% chg. over the last day: +0.03
Day’s range: 1.30254 – 1.30442
52 wk range: 1.2361 – 1.4345
Yesterday, there was a variety of trends on the GBP/USD currency pair. The British pound strengthened after it became known that the UK was ready to compromise in solving the problem with the Irish border. British Prime Minister Theresa May plans to sign an agreement on Brexit with the European Union. At the moment, quotes are declining. The key support and resistance levels are: 1.29850 and 1.30350, respectively. Positions should be opened from these marks.
At 11:30 (GMT+3:00) the index of economic activity in the UK construction sector will be published.
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.
The Stochastic Oscillator is in the oversold zone, the %K line is crossing the %D line. There are no accurate signals.
Trading recommendations
Support levels: 1.29850, 1.29500
Resistance levels: 1.30350, 1.30800, 1.31200
If the price fixes below the support level of 1.29850, a further drop in the GBP/USD quotes is expected. The movement is tending to 1.29500-1.29300.
An alternative may be the growth of the GBP/USD currency pair to the level of 1.30800-1.31000.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.28477
Open: 1.28095
% chg. over the last day: -0.19
Day’s range: 1.28198 – 1.28295
52 wk range: 1.2059 – 1.3795
At the moment, the USD/CAD currency pair has become stable after a sharp decline at the end of September. Quotes are in a sideways trend. Investors expect additional drivers. Key support and resistance levels are: 1.27850 and 1.28300, respectively. Positions should be opened from these marks. We recommend paying attention to the dynamics of oil prices.
Today, the publication of important economic reports from Canada is not planned.
Signals of the indicators are different: the price has fixed below 50 MA and 200 MA.
The MACD histogram is in the negative zone, but has started rising. There are no accurate signals.
Stochastic Oscillator is located near the overbought zone, the %K line is above the %D line, which indicates the USD/CAD quotes growth.
Trading recommendations
Support levels: 1.27850, 1.27500
Resistance levels: 1.28300, 1.28600, 1.29000
If the price fixes below 1.27850, we recommend looking for entry points to the market to open short positions. The target level for profit taking is 1.27500-1.27300.
Alternative option. If the price fixes above the resistance level of 1.28300, correction of the USD/CAD quotes is expected. The movement is tending to 1.28600-1.29000.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 113.703
Open: 113.875
% chg. over the last day: +0.13
Day’s range: 113.686 – 113.775
52 wk range: 104.56 – 114.74
Yesterday, the USD/JPY currency pair kept the round level of 114.000. At the moment, the technical pattern is ambiguous. The trading instrument is testing local support of 113.700. In the near future, correction of the USD/JPY quotes is not excluded after a prolonged rally. Positions should be opened from the key levels. We recommend paying attention to the US government bonds yield.
The news feed on the economy of Japan is calm.
Indicators do not send accurate signals: the price has crossed 50 MA.
The MACD histogram is located near the 0 mark.
Stochastic Oscillator is near the oversold zone, the %K line is below the %D line, which indicates the bearish sentiment.
Trading recommendations
Support levels: 113.700, 113.450, 113.300
Resistance levels: 114.000
If the price fixes below the local support of 113.700, correction of the USD/JPY currency pair is expected. The movement is tending to 113.450-113.300.
An alternative may be the further growth of the USD/JPY quotes to the level of 114.000-114.250.
