The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.13032
Open: 1.13031
% chg. over the last day: -0.02
Day’s range: 1.12927 – 1.13119
52 wk range: 1.1214 – 1.2557
At the moment, the euro has become stable after the rally last week. A unidirectional trend is not observed. Investors have taken a wait-and-see attitude before important economic releases coming later this week. Local support and resistance levels are still 1.12900 and 1.13200, respectively. The EUR/USD quotes have the potential for further growth. Donald Trump сriticized the Fed again, which puts additional pressure on the US currency. We recommend opening positions from the key levels.
The News Feed on 16.04.2019:
German ZEW economic sentiment index at 12:00 (GMT+3:00);
Industrial production in the US at 16:15 (GMT+3:00).
Indicators do not send accurate signals: the price has crossed 50 MA.
The MACD histogram is near the 0 mark.
Stochastic Oscillator is in the overbought zone, the %K line is above the %D line, which gives a weak signal to buy EUR/USD.
Trading recommendations
Support levels: 1.12900, 1.12750, 1.12500
Resistance levels: 1.13200, 1.13500, 1.14000
If the price fixes above the level of 1.13200, further growth of the EUR/USD quotes is expected. The movement is tending to 1.13500-1.13800.
An alternative may be the decrease of the EUR/USD currency pair to 1.12700-1.12500.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.30722
Open: 1.30883
% chg. over the last day: +0.13
Day’s range: 1.30753 – 1.31015
52 wk range: 1.2438 – 1.4378
The British pound is being traded in a protracted flat. The technical pattern is ambiguous. Investors expect up-to-date information on the Brexit issue. On Monday British Foreign Secretary Jeremy Hunt said that negotiations between the government and the opposition Labour Party were proceeding progressively and constructively. Local support and resistance levels are still 1.30650 and 1.31000, respectively. Positions should be opened from these marks.
At 11:30 (GMT+3:00) a report on the labor market will be published in the UK.
Indicators do not send accurate signals: the price has crossed 50 MA and 200 MA.
The MACD histogram is located near the 0 mark. There are no signals at the moment.
Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.30650, 1.30350, 1.30000
Resistance levels: 1.31000, 1.31300, 1.31550
If the price fixes above the round level of 1.31000, the GBP/USD currency pair is expected to grow. The movement is tending to 1.31300-1.31500.
An alternative may be a drop in the GBP/USD quotes to 1.30400-1.30200.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.33304
Open: 1.33662
% chg. over the last day: +0.22
Day’s range: 1.33662 – 1.34029
52 wk range: 1.2248 – 1.3664
Yesterday’s trading on the USD/CAD currency pair was very active. Aggressive purchases were observed in the trading instrument. The USD/CAD quotes have reached monthly highs. At the moment, Loonie is consolidating near the round level of 1.34000. The 1.33750 mark is the nearest support. We recommend paying attention to the dynamics of oil prices. Positions should be opened from the key levels.
Today, the news feed on the economy of Canada is rather calm.
Indicators indicate the power of buyers: the price has fixed above 200 MA.
The MACD histogram is in the positive zone and continues to rise, which indicates the bullish sentiment.
Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.33750, 1.33500, 1.33350
Resistance levels: 1.34000, 1.34500
If the price fixes above the round level of 1.34000, further growth of the USD/CAD quotes is expected. The movement is tending to 1.34400-1.34600.
An alternative may be the correction of the USD/CAD currency pair to 1.33600-1.33450.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 111.961
Open: 112.019
% chg. over the last day: +0.07
Day’s range: 111.853 – 112.045
52 wk range: 104.56 – 114.56
The USD/JPY currency pair has become stable near annual highs. At the moment, quotes are consolidating. Local support and resistance levels are 111.800 and 112.000, respectively. In the near future technical correction is not excluded. US President Donald Trump criticized the Fed’s policy again, which puts additional pressure on the US currency. We recommend opening positions from the key levels.
During the Asian trading session, weak data on economic activity in the services sector have been published in Japan.
Indicators do not send accurate signals: the price has fixed between 50 MA and 200 MA.
The MACD histogram is near the 0 mark.
Stochastic Oscillator is located near the oversold zone, the %K line is below the %D line, which gives a weak signal to sell USD/JPY.
Trading recommendations
Support levels: 111.800, 111.600, 111.450
Resistance levels: 112.000, 112.400, 112.600
If the price fixes above 112.100, further growth of the USD/JPY quotes is expected. The movement is tending to 112.500-112.700.
An alternative may be the correction of the USD/JPY currency pair to 111.600-111.450.
