The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.11912
Open: 1.12128
% chg. over the last day: +0.25
Day’s range: 1.12123 – 1.12348
52 wk range: 1.1111 – 1.2009
EUR/USD started to grow and updated the local maximums. Yesterday, the US published weak economic reports, including the manufacturer’s price index and the primary jobless claims. Right now the quotes are consolidating around 1.12100-1.12350. The financial market participants are waiting for the final decision regarding the US/China trading conflict. Keep an eye on this issue and open positions from the key levels.
At 15:30 (GMT+3:00) the US will publish an inflation report. Also keep an eye on the statement made by the FOMC representatives.
The price fixed above 50 MA and 200 MA which points to the power of the buyers.
The MACD histogram is in the positive zone but below the signal line which gives a weak signal to buy EUR/USD.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points toward a bearish mood.
Trading recommendations
Support levels: 1.12100, 1.11850, 1.11650
Resistance levels: 1.12350, 1.12600
If the price fixed above 1.12350, expect further growth toward 1.12600-1.12800.
Alternatively, the quotes can descend toward 1.11850-1.11700.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.30059
Open: 1.30126
% chg. over the last day: +0.03
Day’s range: 1.29968 – 1.30204
52 wk range: 1.2438 – 1.3631
GBP/USD has an ambiguous technical picture. GBP is moving sideways. The key support and resistance levels are 1.29800 and 1.30400. The investors are waiting for the UK GDP report for the first quarter of 2019. The experts are expecting for the increase in the economic growth soon. Keep an eye on the Brexit situation and open positions from the key levels.
The Economic News Feed for 10.05.2019:
GDP Report (UK) – 11:30 (GMT+3:00);
Industrial Production Volume (GB) – 11:30 (GMT+3:00);
The indicators do not provide precise signalf, the price has crossed 50 MA.
The MACD histogram is close to 0.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points to the bearish mood.
Trading recommendations
Support levels: 1.29800, 1.29400, 1.29100
Resistance levels: 1.30400, 1.30800, 1.31300
If the price fixes below 1.29800, expect further descend toward 1.29400-1.29100.
Alternatively, the quotes can recover toward 1.30800-1.31000.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.34759
Open: 1.34646
% chg. over the last day: -0.10
Day’s range: 1.34355 – 1.34841
52 wk range: 1.2727 – 1.3664
USD/CAD remains ambiguous. The CAD keeps trading in a flat. The local support and resistance levels are 1.34350 and 1.34750. Today Canada will publish important statistic reports which may influence the balance of powers on USD/CAD. Keep an eye on the oil quotes dynamics and open positions from the key levels.
At 15:30 (GMT+3:00) Canada will publish a labour market report.
The indicators do not provide precise signals, the price has crossed 50 MA and 200MA.
The MACD histogram is in the negative zone and above the signal line which gives a weak signal to sell USD/CAD.
The Stochastic Oscillator is near the overbought zone, the %K line is crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.34350, 1.34100, 1.33800
Resistance levels: 1.34750, 1.35000, 1.35200
If the price fixes above 1.34750, consider buying USD/CAD. The price will ascend toward 1.35000-1.35300.
Alternatively, the price will descend toward 1.34000.
