The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.10390
Open: 1.09615
% chg. over the last day: -0.61
Day’s range: 1.09300 – 1.09681
52 wk range: 1.0777 – 1.1494
Sales prevail on the EUR/USD currency pair. Quotes have updated local lows. The COVID-19 pandemic continues to impact the global economy negatively. Donald Trump announced the upcoming “painful” two-week fight against coronavirus. At the moment, EUR/USD quotes are consolidating in the range of 1.08900-1.09700. We recommend opening positions from these marks.
The Economic News Feed for 02.04.2020:
At 15:30 (GMT+3:00), data on initial jobless claims will be published in the US
Indicators do not give accurate signals: the price has fixed between 50 MA and 100 MA.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.
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: 1.08900, 1.08000
Resistance levels: 1.09700, 1.10400, 1.11400
If the price fixes below 1.08900, the EUR/USD currency pair is expected to fall. The movement is tending to the round level of 1.08000.
An alternative could be the growth of EUR/USD quotes to 1.10300-1.10800.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.24140
Open: 1.23771
% chg. over the last day: -0.33
Day’s range: 1.23664 – 1.24318
52 wk range: 1.1466 – 1.3516
The British pound is still being traded in a prolonged flat. There is no defined trend. Since the beginning of this week, the following key support and resistance levels have been formed: 1.23000 and 1.24800, respectively. Financial market participants expect additional drivers. Today, investors will assess important statistics from the UK and the US. Positions should be opened from key levels.
At 11:30 (GMT+3:00), UK construction PMI will be published.
Indicators do not give accurate signals: the price has crossed 50 MA.
The MACD histogram is near the 0 mark.
Stochastic Oscillator is in the neutral zone, the %K line has started crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.23000, 1.21450, 1.20150
Resistance levels: 1.24800, 1.25500
If the price fixes below the round level of 1.23000, GBP/USD quotes is expected to fall. The movement is tending to 1.22000-1.21000.
An alternative could be the growth of the GBP/USD currency pair to 1.25500-1.26000.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.40648
Open: 1.41923
% chg. over the last day: +0.91
Day’s range: 1.40787 – 1.41964
52 wk range: 1.2949 – 1.4668
There is an ambiguous technical pattern on the USD/CAD currency pair. A trading instrument is in a sideways trend with a fairly wide range. At the moment, the local support and resistance levels are 1.40800 and 1.42000, respectively. The recovery of the “black gold” prices support the loonie. USD/CAD quotes are tending to decline. Positions should be opened from key levels.
The news feed on Canada’s economy is calm.
Indicators signal the power of sellers: the price has fixed below 50 MA and 100 MA.
The MACD histogram has moved into the negative zone, which indicates the development of bearish sentiment.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell USD/CAD.
Trading recommendations
Support levels: 1.40800, 1.40100, 1.39250
Resistance levels: 1.42000, 1.42700, 1.43350
If the price fixes below 1.40800, USD/CAD quotes are expected to fall. The movement is tending to 1.40100-1.39500.
An alternative could be the growth of the USD/CAD currency pair to 1.42500-1.43000.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 107.498
Open: 107.154
% chg. over the last day: -0.35
Day’s range: 107.040 – 107.568
52 wk range: 101.19 – 112.41
USD/JPY quotes continue to consolidate. There is no defined trend. At the moment, the local support and resistance levels are 107.000 and 107.650, respectively. Demand for the “safe haven” currencies is still high. The USD/JPY currency pair has the potential for further decline. We recommend paying attention to the dynamics of the US government bonds yield. Positions should be opened from key levels.
The news feed on Japan’s economy is calm.
Indicators do not give accurate signals: the price is consolidating near 50 MA.
The MACD histogram is near the 0 mark.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.
Trading recommendations
Support levels: 107.000, 106.500
Resistance levels: 107.650, 108.250, 108.700
If the price fixes below 107.000, a further drop in the USD/JPY quotes is expected. The movement is tending to 106.500-106.200.
An alternative could be the growth of the USD/JPY currency pair to 108.000-108.500.
