The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.11603
Open: 1.12407
% chg. over the last day: +0.64
Day’s range: 1.12407 – 1.12576
52 wk range: 1.1111 – 1.2009
USD got weakened yesterday against the other majors. The quotes grew by 85 points. The trading instrument updated the key extremums. The demand for USD fell after the comments made by the FOMC representative Bullard. The official stated the quotes descend “can be justified soon”, including the growing risks in the US economy which are caused by the growing tension in the world trade and weak inflation in the US. An additional pressure is caused by the weak business activity report in the industrial sector by ISM. The quotes are consolidating around 1.12350-1.12600. Open positions from these levels. The quotes can grow further.
The Economic News Feed for 04.06.2019:
Consumer Price Index (EU) – 12:00 (GMT+3:00);
Unemployment Rate Report (EU) – 12:00 (GMT+3:00);
Keep an eye on the statements by the head of the Federal Reserve.
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 crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.12600, 1.13000
Resistance levels: 1.12350, 1.12150, 1.11900
If the price fixes above the local resistance 1.12600 expect further growth towards 1.30000
Alternatively, the quotes can fall towards 1.12000-1.11800.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.26264
Open: 1.26639
% chg. over the last day: +0.19
Day’s range: 1.26558 – 1.26744
52 wk range: 1.2438 – 1.3631
GBP/USD shows an ambiguous technical picture. GBP is consolidating. The local support and resistance levels are 1.26400 and 1.26750. The demand for USD lowered due to the growing expectations for the Federal Reserve to dencrease the rates next year. The quotes have prospects for recovery. The investors are waiting for reports fromt he UK. Open the positions from the key levels
At 11:30 (GMT+3:00) the UK will publish a construction PMI report.
The price fixed above 200 MA which points to the power of the buyers.
The MACD histogram is in the positive zone and keeps rising which provides a strong indicator to buy GBP/USD
The Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.26400, 1.26100, 1.25850
Resistance levels: 1.26750, 1.27000, 1.27450
If the price fixes above 1.26750, expect growth towards 1.27000-1.27400.
Alternatively, the quotes can fall towards 1.26100-1.25850.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.35168
Open: 1.34403
% chg. over the last day: -0.59
Day’s range: 1.34328 – 1.34476
52 wk range: 1.2727 – 1.3664
The quotes started to descend and set the new local minimums. USD is under pressure after the FOMC represetatives’ comments and weak economic releases. CAD is consolidating around 1.34300 and 1.34600. The quotes can descend further. Keep an eye on the oil quotes dynamics and open positions from the key levels.
The Economic News Feed for 04.06.2019 is calm.
The indicators point to the power of the sellers, the price 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.
The Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.34300, 1.34000
Resistance levels: 1.34600, 1.34850, 1.35250
If the price fixes below 1.34300, expect further descend towards 1.34000-1.33800.
Alternatively, the quotes can grow toward 1.34800-1.35000.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 108.264
Open: 108.054
% chg. over the last day: -0.18
Day’s range: 107.857 – 108.087
52 wk range: 104.97 – 114.56
USD/JPY keeps showing a negative trend and update the local minimums. The quotes are consolidating around 107.850-108.150. The JPY has a tendency to grow against th eUSD. The demand for safe assets remains high due to the growing risks in the world trade. Keep an eye on the US Treasury bonds’ yield and open positions from the key levels.
The Economic News Feed for 04.06.2019 is calm.
The price fixed below 50 MA and 200 MA which points towards the power of the buyers.
The MACD histogram is in the negative zone and keeps descending which recommends selling USD/JPY.
The Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. here are no signals at the moment.
Trading recommendations
Support levels: 107.850, 107.500
Resistance levels: 108.150, 108.450, 108.850
If the price fixed below 107.850, expect further descend towards 107.500-107.300.
Alternatively, the quotes can recover towards 108.450-108.800.
