The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.08256
Open: 1.08051
% chg. over the last day: -0.28
Day’s range: 1.07845 – 1.08276
52 wk range: 1.0777 – 1.1494
There is an ambiguous technical pattern on the EUR/USD currency pair. The trading instrument is in a sideways trend. Financial market participants expect additional drivers. The demand for safe assets has grown. Investors and politicians are concerned about the second outbreak of coronavirus after a number of restrictions were lifted in most countries. At the moment, the key range is 1.0775-1.0835. We expect inflation data in the US. Positions should be opened from key levels.
At 15:30 (GMT+3:00), the US inflation report will be published.
We also recommend paying attention to the speeches by FOMC representatives.
Indicators do not give accurate signals: the price has crossed 50 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 near the overbought zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.0775, 1.0750
Resistance levels: 1.0835, 1.0875, 1.0895
If the price fixes below 1.0775, the EUR/USD currency pair is expected to fall. The movement is tending to 1.0740-1.0720.
An alternative could be the growth of EUR/USD quotes to 1.0870-1.0890.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.23933
Open: 1.23310
% chg. over the last day: -0.65
Day’s range: 1.22871 – 1.23475
52 wk range: 1.1466 – 1.3516
The GBP/USD currency pair is in a sideways trend. There is no defined trend. The British pound is testing key support and resistance levels: 1.2290 and 1.2360, respectively. The demand for risky assets has weakened. GBP/USD quotes are tending to decline. We expect economic releases from the US. We recommend opening positions from key levels.
The news feed on the UK economy is calm.
Indicators signal the power of sellers: the price has fixed below 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 GBP/USD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 1.2290, 1.2250
Resistance levels: 1.2360, 1.2405, 1.2455
If the price fixes below 1.2290, GBP/USD quotes are expected to fall. The movement is tending to 1.2260-1.2240.
An alternative could be the growth of the GBP/USD currency pair to 1.2400-1.2430.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.39325
Open: 1.40031
% chg. over the last day: +0.57
Day’s range: 1.40031 – 1.40645
52 wk range: 1.2949 – 1.4668
The USD/CAD currency pair has moved away from local lows. During yesterday’s and today’s trading sessions, the growth of quotes exceeded 100 points. At the moment, the trading instrument has become stable. The loonie is consolidating in the range of 1.4000-1.4060. Economic releases from the US are in the focus of attention. We also recommend paying attention to the dynamics of “black gold” prices. Positions should be opened from key levels.
The news feed on Canada’s economy is calm.
Indicators do not give accurate signals: the price has crossed 100 MA.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.
Trading recommendations
Support levels: 1.4000, 1.3955, 1.3900
Resistance levels: 1.4060, 1.4100
If the price fixes below the round level of 1.4000, a drop in the USD/CAD quotes is expected. The movement is tending to 1.3960-1.3940.
An alternative could be the growth of the USD/CAD currency pair to 1.4090-1.4120.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 106.515
Open: 107.628
% chg. over the last day: +0.70
Day’s range: 107.348 – 107.692
52 wk range: 101.19 – 112.41
USD/JPY quotes continue to show a steady uptrend. The trading instrument has set new local highs. At the moment, the “safe haven” currency is consolidating. The key support and resistance levels are 107.35 and 107.75, respectively. In the near future, a technical correction is not ruled out. We expect important statistics from the US. We recommend paying attention to the dynamics of US government bonds yield. Positions should be opened from key levels.
The news feed on Japan’s economy is calm.
Indicators signal the power 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.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also indicates the bullish sentiment.
Trading recommendations
Support levels: 107.35, 107.00, 106.70
Resistance levels: 107.75, 108.00
If the price fixes above 107.75, further growth of the USD/JPY quotes is expected. The movement is tending to 108.00-108.20.
An alternative could be a decrease in the USD/JPY currency pair to 107.00-106.80.
