The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.15377
Open: 1.15789
% chg. over the last day: +0.28
Day’s range: 1.15701 – 1.15909
52 wk range: 1.0571 – 1.2557
Yesterday, the bullish sentiment was observed on the EUR/USD currency pair. The US dollar was under pressure due to weak retail sales data. At the moment, the EUR/USD quotes are consolidating. The key support and resistance levels are: 1.15700 and 1.16000, respectively. Trading instrument has the potential for further growth. We recommend opening positions from the key levels.
Economic calendar on 16.10.2018:
German ZEW economic sentiment index at 12:00 (GMT+3:00);
JOLTS job openings in the United States at 17:00 (GMT+3:00).
The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.
The MACD histogram is near the 0 mark.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 1.15700, 1.15400, 1.15000
Resistance levels: 1.16000, 1.16400
If the price fixes above the round level of 1.16000, a further increase of the EUR/USD quotes is expected. The movement is tending to 1.16400-1.16600.
An alternative may be a decrease in the EUR/USD currency pair to the level of 1.15400-1.15000.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.30805
Open: 1.31509
% chg. over the last day: +0.39
Day’s range: 1.31543 – 1.31972
52 wk range: 1.2361 – 1.4345
The British pound is still under pressure after it became known that the UK and the EU could not reach an agreement on Brexit. At the moment, the GBP/USD currency pair has recovered most of the losses. Key support and resistance levels are: 1.31500 and 1.32000, respectively. Investors expect new information regarding the Brexit process. Positions should be opened from the key levels.
Economic calendar on 16.10.2018:
Report on the labor market in the UK at 11:30 (GMT+3:00).
The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.
The MACD histogram is near the 0 mark. There are no signals at the moment.
Stochastic oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 1.31500, 1.31100, 1.30700
Resistance levels: 1.32000, 1.32400
If the price fixed above the resistance level of 1.32000, the further growth of the GBP/USD quotes is expected. The movement is tending to 1.32400-1.32600.
An alternative may be the decrease of the GBP/USD currency pair to the level of 1.31100-1.30700.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.30147
Open: 1.29915
% chg. over the last day: -0.22
Day’s range: 1.29805 – 1.29969
52 wk range: 1.2059 – 1.3795
Yesterday, aggressive sales were observed on the USD/CAD currency pair. Trading instrument has updated local lows. At the moment, quotes are consolidating. The technical pattern is ambiguous. Local support and resistance levels are: 1.29700 and 1.30000, respectively. Positions should be opened from these marks. The USD/CAD currency pair has the potential for further correction.
The news feed on the economy of Canada is calm.
Indicators do not send accurate signals: the price is located between 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 in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.
Trading recommendations
Support levels: 1.29700, 1.29400
Resistance levels: 1.30000, 1.30400, 1.30650
If the price fixes below the support of 1.29700, it is necessary to look for entry points to the market to open short positions. The target movement level is 1.29400-1.29200.
Alternative option. If the price fixes above the round level of 1.30000, the growth of the USD/CAD quotes is expected. The movement is tending to 1.30400-1.30600.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 112.131
Open: 111.767
% chg. over the last day: -0.33
Day’s range: 112.089 – 112.129
52 wk range: 104.56 – 114.74
Since the beginning of this week, trades on the USD/JPY currency pair have been rather active. At the same time, a unidirectional trend is not observed. At the moment, the local support and resistance levels are: 111.900 and 112.250, respectively. Positions should be opened from these marks. Trading instrument is tending to recover.
Publication of important economic reports from Japan is not planned.
Indicators do not send accurate signals: the USD/JPY quotes have fixed between 50 MA and 200 MA.
The MACD histogram has moved into the positive zone, which indicates the bullish sentiment.
The Stochastic Oscillator is near the overbought zone, the %K line is crossing the %D line. There are no accurate signals.
Trading recommendations
Support levels: 111.900, 111.600
Resistance levels: 112.250, 112.600, 113.000
If the price fixes above the resistance level of 112.250, the USD/JPY quotes growth is expected. The movement is tending to 112.600-112.800.
Alternative option. If the price fixes below 111.900, we recommend looking for entry points to the market to open short positions. The target movement level is 111.600-111.400.
