The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.11829
Open: 1.12612
% chg. over the last day: +0.75
Day’s range: 1.12331 – 1.13022
52 wk range: 1.0777 – 1.1494
EUR/USD quotes have been growing. During yesterday’s and today’s trading sessions, the single currency added more than 100 points. The trading instrument has reached a round level of 1.1300. The 1.1255 mark is already a “mirror” support. The White House announced the development of a new $1 trillion stimulus package. We expect the release of important statistics from Germany, the Eurozone and the US. The technical pattern signals the further growth of the EUR/USD currency pair. Positions should be opened from key levels.
The Economic News Feed for 2020.06.23:
Indicators on economic activity in Germany and the Eurozone at 10:30 (GMT+3:00) and 11:00 (GMT+3:00);
New home sales in the US at 17:00 (GMT+3:00).
Indicators do not give accurate signals: the price has crossed 100 MA.
The MACD histogram is in the positive zone and continues to rise, which indicates further growth of the EUR/USD currency pair.
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: 1.1255, 1.1220, 1.1170
Resistance levels: 1.1300, 1.1350
If the price fixes above 1.1300, further growth of EUR/USD quotes is expected. The movement is tending to 1.1340-1.1360.
An alternative could be a decrease in the EUR/USD currency pair to 1.1220-1.1190.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.23435
Open: 1.24582
% chg. over the last day: +0.95
Day’s range: 1.24361 – 1.25068
52 wk range: 1.1466 – 1.3516
The British pound has started recovering against the greenback. GBP/USD quotes have updated local highs. The trading instrument is currently consolidating. The local support and resistance levels are 1.2435 and 1.2510, respectively. The demand for risky assets has resumed. The GBP/USD currency pair has the potential for further growth. We expect important economic releases from the UK. Positions should be opened from key levels.
At 11:30 (GMT+3:00), a number of indicators on economic activity will be published in the UK.
Indicators do not give accurate signals: the price has fixed between 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.
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: 1.2435, 1.2370, 1.2335
Resistance levels: 1.2510, 1.2565, 1.2650
If the price fixes above 1.2510, further growth of GBP/USD quotes is expected. The movement is tending to 1.2560-1.2600.
An alternative could be a decrease in the GBP/USD currency pair to 1.2370-1.2340.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.36128
Open: 1.35198
% chg. over the last day: -0.71
Day’s range: 1.35004 – 1.35417
52 wk range: 1.2949 – 1.4668
The USD/CAD currency pair is still being traded in a prolonged flat. There is no defined trend. At the moment, the key support and resistance levels are 1.3500 and 1.3560, respectively. USD/CAD quotes are tending to decline. We 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: 50 MA has crossed 100 MA.
The MACD histogram is in 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: 1.3500, 1.3455, 1.3400
Resistance levels: 1.3560, 1.3620, 1.3680
If the price fixes below 1.3500, a drop in USD/CAD quotes is expected. The movement is tending to 1.3460-1.3430.
An alternative could be the growth of the USD/CAD currency pair to 1.3600-1.3640.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 106.775
Open: 106.882
% chg. over the last day: +0.05
Day’s range: 106.739 – 107.221
52 wk range: 101.19 – 112.41
The USD/JPY currency pair has been growing. The trading instrument has updated local highs. At the moment, USD/JPY quotes are consolidating near the resistance of 107.20. The round level of 107.00 is the nearest support. A trading instrument has the potential for further growth. Today we recommend paying attention to economic reports, as well as the dynamics of 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 has crossed 100 MA.
The MACD histogram is in the positive zone, indicating the bullish sentiment.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell USD/JPY.
Trading recommendations
Support levels: 107.00, 106.75, 106.65
Resistance levels: 107.20, 107.45, 107.65
If the price fixes above 107.20, further growth of USD/JPY quotes is expected. The movement is tending to 107.40-107.60.
An alternative could be a decrease in the USD/JPY currency pair to 106.80-106.60.
