The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.18574
Open: 1.18085
% chg. over the last day: -0.36
Day’s range: 1.18064 – 1.18359
52 wk range: 1.0637 – 1.2012
There is an ambiguous technical pattern on the EUR/USD currency pair. The trading instrument is consolidating. Financial market participants have taken a wait-and-see attitude before the US presidential elections, which are scheduled for November 3. Investors also expect the ECB meeting later this week. At the moment, the local support and resistance levels are 1.1795 and 1.1840, respectively. We recommend opening positions from these marks.
The news feed on 2020.10.27:
Durable goods orders in the US at 14:30 (GMT+2:00);
US consumer confidence index at 16:00 (GMT+2:00).
Indicators do not give accurate signals: 50 MA has crossed 100 MA.
The MACD histogram is near the 0 mark. There are no signals at the moment.
Stochastic Oscillator is in the overbought zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.1795, 1.1760, 1.1730
Resistance levels: 1.1840, 1.1865, 1.1880
If the price fixes below 1.1795, EUR/USD quotes are expected to fall. The movement is tending to 1.1760-1.1730.
An alternative could be the growth of the EUR/USD currency pair to 1.1870-1.1900.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.30540
Open: 1.30192
% chg. over the last day: -0.35
Day’s range: 1.30133 – 1.30445
52 wk range: 1.1409 – 1.3516
The GBP/USD currency pair is in a sideways trend. There is no defined trend. At the moment, the British pound is consolidating near the round level of 1.3000. The 1.3065 mark is the key resistance. Investors expect additional catalysts to set the tone for trading in the foreign exchange market in the coming days. We recommend paying attention to the news feed from the US. Positions should be opened from key levels.
The publication of important UK economic releases is not planned.
Indicators do not give accurate signals: 50 MA has crossed 100 MA.
The MACD histogram is near the 0 mark. There are no signals at the moment.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell GBP/USD.
Trading recommendations
Support levels: 1.3000, 1.2970, 1.2920
Resistance levels: 1.3065, 1.3110, 1.3150
If the price fixes below the round level of 1.3000, further correction of the GBP/USD currency pair is expected. The movement is tending to 1.2960-1.2940.
An alternative could be the growth of GBP/USD quotes to 1.3100-1.3120.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.31255
Open: 1.32078
% chg. over the last day: +0.47
Day’s range: 1.31713 – 1.32123
52 wk range: 1.2949 – 1.4669
Purchases prevail on the USD/CAD currency pair. The trading instrument has updated local highs. Currently, the loonie is testing the “mirror” support at 1.3175. The 1.3210 mark is the nearest resistance. The trading instrument has the potential for further growth. Today, we recommend paying attention to economic releases from the US, as well as the dynamics of “black gold” prices. Positions should be opened from key levels.
The news feed on Canada’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/CAD.
Stochastic Oscillator is in the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.3175, 1.3155, 1.3125
Resistance levels: 1.3210, 1.3235, 1.3255
If the price fixes above 1.3210, further growth in USD/CAD quotes is expected. The movement is tending to 1.3235-1.3260.
An alternative could be a decline in the USD/CAD currency pair to 1.3150-1.3125.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 104.656
Open: 104.840
% chg. over the last day: +0.12
Day’s range: 104.668 – 104.891
52 wk range: 101.19 – 112.41
The technical pattern on the USD/JPY currency pair is still ambiguous. The trading instrument is consolidating. There is no defined trend. At the moment, the local support and resistance levels are 104.65 and 104.90, respectively. Financial market participants expect additional drivers. We recommend paying attention to the dynamics of US government bonds yield. Positions should be opened from key levels.
The news feed for Japan’s economy is calm.
Indicators do not give accurate signals: the price has crossed the 50 MA and 100 MA.
The MACD histogram is near the 0 mark. There are no signals at the moment.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 104.65, 104.55, 104.40
Resistance levels: 104.90, 105.05, 105.30
If the price fixes below 104.65, USD/JPY quotes are expected to fall. The movement is tending to 104.40-104.10.
An alternative could be the growth of the USD/JPY currency pair to 105.20-105.40.
