The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.10903
Open: 1.10775
% chg. over the last day: -0.05
Day’s range: 1.10775 – 1.10875
52 wk range: 1.1034 – 1.1817
An ambiguous technical picture has developed on the EUR/USD currency pair. The EUR is currently consolidating. The local support and resistance levels are: 1.10700 and 1.10900, respectively. The trade conflict between Washington and Beijing remains the focus of attention. Investors are concerned about the inversion of the yield curve of US government bonds. Today we expect a number of important economic releases from Germany and the USA. We recommend opening positions from key levels.
The Economic News Feed for 29.08.2019:
Report on the labor market in (GER) – 10:55 (GMT + 3: 00);
GDP report (US) – 15:30 (GMT+3:00);
The report on the Incomplete Sales on the Real Estate Market (US) – 17:00 (GMT+3:00).
Indicators do not provide accurate signals: 50 MA crossed 100 MA.
The MACD histogram has approached the 0 mark.
Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.10700, 1.10500, 1.10300
Resistance levels: 1.10900, 1.11100, 1.11350
If the price consolidates above 1.10900, expect the quotes to rise toward 1.11200-1.11350.
Alternatively the quotes could rise toward 1.10500-1.10300.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.21233
Open: 1.22533
% chg. over the last day: +1.02
Day’s range: 1.22190 – 1.22618
52 wk range: 1.2015 – 1.3385
Yesterday, aggressive purchases were observed on the GBP / USD currency pair. Quotation growth exceeded 1%. The pound has updated key highs. The trading instrument is currently consolidating. The local support and resistance levels are: 1.22150 and 1.22650, respectively. Sterling has the potential for further recovery. Today, investors will evaluate the speech of Fed Chairman Jerome Powell at the Jackson Hole Symposium. Positions must be opened from key levels.
The Economic News Feed for 29.08.2019 is calm.
Indicators indicate the strength of buyers: the price has fixed above 50 MA and 100 MA.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy GBP/USD.
The Stochastic Oscillator started to go out of the oversold zone, the %K line is above the %D line, which also gives a signal to buy GBP/USD.
Trading recommendations
Support levels: 1.22150, 1.21750, 1.21450
Resistance levels: 1.22650, 1.23000
If the price consolidates above 1.22650, further growth of GBP/USD quotes is expected. The immediate goal for profit taking is the round level of 1.23000.
Alternatively the quotes could decrease to 1.21800-1.21600.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.32849
Open: 1.33025
% chg. over the last day: +0.04
Day’s range: 1.32926 – 1.33265
52 wk range: 1.2727 – 1.3664
The technical picture on the USD/CAD currency pair is still ambiguous. Looney continues to consolidate. At the moment, the following local support and resistance levels can be distinguished: 1.32900 and 1.33250, respectively. Financial market participants expect important economic releases from Canada. We also recommend that you pay attention to the dynamics of prices of “black gold”. Positions must be opened from key levels.
At 15:30 (GMT+3:00) a report on retail sales in Canada will be published
Indicators do not give accurate signals do not give: 50 MA crossed 100 MA.
The MACD histogram is in the positive zone, which signals a bullish mood.
The Stochastic Oscillator is in the overbought zone, the %K line crossed the %D line. There are no signals at this time.
Trading recommendations
Support levels: 1.32900, 1.32550, 1.32150
Resistance levels: 1.33250, 1.33450, 1.33700
If the price consolidates above 1.33250, expect further growth 1.33500-1.33700.
Alternatively the quotes could drop toward 1.32600-1.32400.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 105.715
Open: 106.103
% chg. over the last day: +0.34
Day’s range: 105.828 – 106.123
52 wk range: 104.97 – 114.56
The USD / JPY currency pair is in lateral movement. Unidirectional trends are not observed. Demand for safe assets remains at a fairly high level due to uncertainty in trade disputes between the US and China. Additional pressure on the greenback is provided by the negative dynamics of the yield on US government bonds. At the moment, the local support and resistance levels are: 105.800 and 106.200, respectively. Today, investors will evaluate important economic reports from the United States. Positions must be opened from key levels.
The Economic News Feed for 29.08.2019 is calm.
Indicators do not give accurate signals: 50 MA crossed 100 MA.
The MACD histogram is close to 0.
The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 105.800, 105.500, 105.150
Resistance levels: 106.200, 106.650
If the price consolidates above 106.200, expect further growth of USD/ toward 106.600-106.800.
Alternatively, the quotes could drop to 105.500-105.300
