The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.10094
Open: 1.10638
% chg. over the last day: +0.42
Day’s range: 1.10554 – 1.10802
52 wk range: 1.0931 – 1.1817
Yesterday, the EUR/USD currency pair showed high trading activity and volatility. The ECB, as expected, reduced the rate on deposit funds to -0.50% from -0.40%. The regulator plans to resume the quantitative easing program from November 1 in the amount of 20 billion euros per month. The central bank has also introduced a multi-level system of applying deposit rates to help European banks. Currently, EUR/USD quotes are consolidating. The key range is 1.10550-1.10850. We recommend opening positions from key levels.
At 15:30 (GMT+3:00), the financial market participants will evaluate the report on US retail sales.
The price has fixed above 100 MA, which signals the strength of buyers.
The MACD histogram is located in the positive zone and above the signal line, which gives a strong signal to buy EUR/USD.
The Stochastic Oscillator is in the overbought zone, the %K line crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.10550, 1.10200, 1.09900
Resistance levels: 1.10850, 1.11000, 1.11300
If the price consolidates above the level of 1.10850, consider buying EUR/USD. The quotes will rise toward 1.11200-1.11400.
Alternatively, the quotes can descend toward 1.10300-1.10100.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.23173
Open: 1.23325
% chg. over the last day: +0.03
Day’s range: 1.23272 – 1.23713
52 wk range: 1.1995 – 1.3385
GBP/USD is still trading flat. Unidirectional trends are not observed. At the moment, the following local support and resistance levels can be distinguished: 1.23250 and 1.23800, respectively. A trading instrument has the potential for further growth. Investors are waiting for new information on the UK exit from the EU. Today we recommend paying attention to retail sales data in the USA. Positions must be opened from key levels.
The news background on the UK economy is calm.
Indicators do not provide accurate singals: 50 MA crossed 100 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 GBP/USD.
Trading recommendations
Support levels: 1.23250, 1.22900, 1.22550
Resistance levels: 1.23800, 1.24400
If the price consolidates above the resistance level of 1.23800, GBP/USD is expected to grow toward 1.24200-1.24400.
Alternatively, the qutoes can drop toward 1.22800-1.22600.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.31923
Open: 1.32041
% chg. over the last day: +0.13
Day’s range: 1.32026 – 1.32256
52 wk range: 1.2727 – 1.3664
The USD/CAD currency pair continues to recover. The trading tool again updated local highs. The negative dynamics of oil quotes puts additional pressure on the Canadian dollar. CAD is currently testing a resistance level of 1.32250. 1.31900 is already a mirror support. We do not exclude further correction of the USD/CAD quotes. Today we recommend paying attention to economic releases from the USA. Positions must be opened from key levels.
The Economic News Feed for 13.09.2019 is calm.
Indicators point to the strength of buyers: the price has fixed above 50 MA and 100 MA.
The MACD histogram is in the positive zone and continues to rise, indicating bullish sentiment.
Stochastic Oscillator is in the overbought zone, the %K line is above the %D line, which gives a weak signal to buy USD/CAD.
Trading recommendations
Support levels: 1.31900, 1.31600, 1.31350
Resistance levels: 1.32250, 1.32450, 1.32800
If the price consolidates above 1.32250, expect further correction to 1.32500-1.32700.
Alternatively, the quotes could drop to 1.31700-1.31500.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 107.812
Open: 108.080
% chg. over the last day: +0.33
Day’s range: 107.980 – 108.259
52 wk range: 104.97 – 114.56
The USD/JPY currency pair stabilized after a protracted rally. The trading instrument is currently consolidating. There is no defined trend. The local support and resistance levels are 107.850 and 108.250, respectively. In the near future, technical correction is not ruled out. Today we recommend that you pay attention to economic releases, as well as the dynamics of yield on US government bonds. Positions must be opened from key levels.
The Economic News Feed for 13.09.2019 is quite calm.
Indicators signal 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 USD/JPY.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the correction of USD / JPY quotes.
Trading recommendations
Support levels: 107.850, 107.500, 107.150
Resistance levels: 108.250, 108.500
If the price consolidates below 107.850, expect a correction to 107.500-107.300.
Alternatively, the quotes could increase toward 108.500-108.700.
