The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.18468
Open: 1.18141
% chg. over the last day: -0.26
Day’s range: 1.17776 – 1.17734
52 wk range: 1.0637 – 1.2012
The bearish sentiment is being observed on the EUR/USD currency pair after the Fed meeting. Yesterday, the Fed meeting took place, during which the regulator left the key interest rate unchanged at 0.00-0.25% per annum, as experts expected. Fed officials expect the base interest rate to remain at this level until 2023. EUR/USD quotes fell by more than 100 points during yesterday’s trading session. At the moment, the key support is the level of 1.11755, the key resistance level is 1.1800. We recommend opening positions from these levels.
The news feed on 2020.09.17:
Consumer price index in the Eurozone at 12:00 (GMT+3:00);
Initial jobless claims in the US at 15:30 (GMT+3:00);
Philadelphia Fed manufacturing index at 15:30 (GMT+3:00);
Indicators do not give accurate signals: 50 MA has crossed 100 MA.
The MACD histogram is in the negative zone and below the signal line, which gives a strong signal to sell EUR/USD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy EUR/USD.
Trading recommendations
Support levels: 1.1755, 1.1715
Resistance levels: 1.1800, 1.1835, 1.1870
If the price fixes below 1.1755, a further fall in EUR/USD quotes is expected. The movement is tending to the round level of 1.1700.
An alternative could be the growth of the EUR/USD currency pair to 1.1835-1.1800.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.28883
Open: 1.29654
% chg. over the last day: +0.61
Day’s range: 1.28440 – 1.28635
52 wk range: 1.1409 – 1.3516
During yesterday’s trading session, GBP/USD quotes increased. EU officials said that the chances of a trade deal with the UK were diminishing by the day as the British government pushed for an internal market law that would violate all terms of the UK’s exit agreements. The Bank of England meeting, during which a decision on the key interest rate will be made, is in the spotlight. At the moment, the key support and resistance levels are 1.2930 and 1.3000, respectively. Positions should be opened from these levels. We recommend following up-to-date news from the UK.
The news feed on the UK economy for 2020.09.17:
The Bank of England interest rate decision at 14:00 (GMT+3:00).
Indicators point to the power of buyers: the price is being traded above 50 MA and 100 MA.
The MACD histogram is near the 0 mark. There are no accurate signals.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 1.2930, 1.2870, 1.2800
Resistance levels: 1.3000, 1.3070, 1.3150
If the price fixes above the round level of 1.3000, further growth in GBP/USD quotes is expected. The movement is tending to 1.3070-1.3100.
If the price fixes below the key support level of 1.2930, GBP/USD quotes are expected to decline to 1.2870-1.2850.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.31851
Open: 1.31750
% chg. over the last day: -0.04
Day’s range: 1.32129 – 1.32367
52 wk range: 1.2949 – 1.4669
During today’s trading session, the USD/CAD currency pair is growing. Investors assess the results of the Fed meeting. At the moment, the key support and resistance levels are 1.3190 and 1.3230, respectively. We recommend paying attention to the dynamics of the “black gold” prices. Positions should be opened from key support and resistance levels.
Today, the news feed in Canada is calm.
Indicators do not give accurate signals: 50 MA has crossed 100 MA.
The MACD histogram is in the positive zone and above the signal line, which gives a signal to buy USD/CAD.
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: 1.3190, 1.3150, 1.3100
Resistance levels: 1.3230, 1.3265
If the price fixes below 1.3190, USD/CAD quotes are expected to decline. The movement is tending to 1.3150-1.3130.
An alternative could be the growth of the USD/CAD currency pair to 1.3265-1.3280.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 105.350
Open: 104.887
% chg. over the last day: -0.46
Day’s range: 104.759 – 104.807
52 wk range: 101.19 – 112.41
During yesterday’s and today’s trading sessions, the USD/JPY currency pair has been declining. The drop in quotes has exceeded 60 points. At the moment, local support and resistance levels are 105.00 and 104.70, respectively. Investors assess the Bank of Japan meeting. A further decline in the trading instrument is possible. Positions should be opened from key support and resistance levels.
Today, the Bank of Japan has decided on the key interest rate, the indicator of which remained unchanged at the level of -0.10%.
Indicators point to the power of sellers: the price is being traded below 50 MA and 100 MA.
The MACD histogram is in the negative zone, below the signal line, which also gives a strong signal to sell USD/JPY.
Stochastic Oscillator is near the oversold zone, the %K line is crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 104.70, 104.45
Resistance levels: 105.00, 105.35, 105.75
If the price fixes below 104.70, a further decline in USD/JPY quotes is expected. The movement is tending to 104.45-104.30.
An alternative could be the correction of the USD/JPY currency pair to 105.35-105.50.
