The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.15913
Open: 1.16035
% chg. over the last day: +0.02
Day’s range: 1.15700 – 1.16053
52 wk range: 1.0571 – 1.2557
The technical pattern on the EUR/USD currency pair is ambiguous. Financial market participants expect the ECB meeting, which will be held this Thursday, September 13. At the moment, the EUR/USD quotes are testing the demand zone of 1.15650-1.15800. The nearest resistance is at the level of 1.16050. We recommend paying attention to the news feed on the US economy. Positions should be opened from the key levels.
Today, the publication of important economic reports from the Eurozone is not planned. We expect the US producer price index at 15:30 (GMT+3:00).
The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.
The MACD histogram has moved into the negative zone, which signals the bearish sentiment.
Stochastic Oscillator is located in the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.15650, 1.15300, 1.15000
Resistance levels: 1.16050, 1.16300, 1.16500
If the price fixes below 1.15650, the EUR/USD quotes are expected to fall. The movement is tending to 1.15300-1.15000.
An alternative may be the growth of the EUR/USD currency pair to the level of 1.16300-1.16500.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.30236
Open: 1.30213
% chg. over the last day: -0.02
Day’s range: 1.30154 – 1.30281
52 wk range: 1.2361 – 1.4345
Yesterday, trading on the GBP/USD currency pair was very active. The UK published quite optimistic statistics on the labor market. At the same time, the GBP/USD currency pair closed the trading session almost unchanged. Investors expect the Bank of England comments on further monetary policy. The meeting of the Central Bank will be held on September 13. At the moment, the key trading range is 1.30000-1.30400. We recommend opening positions from these marks.
Today, the news feed on the UK economy is calm.
Indicators do not send accurate signals: the price has crossed 50 MA.
The MACD histogram is located near the 0 mark.
Stochastic Oscillator has started moving out of the oversold zone, the %K line is above the %D line, which signals to buy GBP/USD.
Trading recommendations
Support levels: 1.30000, 1.29700, 1.29400
Resistance levels: 1.30400, 1.30850, 1.31000
If the price fixes below the round level of 1.30000, the GBP/USD quotes are expected to fall. The movement is tending to 1.29700-1.29500.
An alternative may be the growth of the GBP/USD currency pair to 1.30400-1.30750.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.31555
Open: 1.30654
% chg. over the last day: -0.77
Day’s range: 1.30510 – 1.30782
52 wk range: 1.2059 – 1.3795
Yesterday, aggressive sales of USD/CAD were observed. The drop in quotes exceeded 100 points. It has become known that the negotiations between the US and Canada regarding NAFTA are being proceeded well. In the near future, the parties can conclude a new agreement. At the moment, the USD/CAD currency pair is consolidating in the range of 1.30500-1.30750. The trading instrument has the potential for further reduce.
The publication of important economic reports from Canada is not planned.
Indicators point to the power of sellers: the price has fixed below 50 MA and 200 MA.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/CAD.
Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which also gives a signal to sell USD/CAD.
Trading recommendations
Support levels: 1.30500, 1.29900
Resistance levels: 1.30750, 1.31200, 1.31600
If the price fixes below the local support of 1.30500, the USD/CAD quotes are expected to fall. The movement is tending to the round level of 1.30000.
Alternative option. If the price fixes above 1.30750, the USD/CAD currency pair may test the “mirror” resistance level of 1.31200.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 111.099
Open: 111.590
% chg. over the last day: +0.46
Day’s range: 111.454 – 111.650
52 wk range: 104.56 – 114.74
The USD/JPY currency pair is in a sideways trend. The trading instrument is testing local support and resistance levels: 111.400 and 111.650, respectively. Investors expect additional drivers. The USD/JPY quotes have the potential for further growth. We recommend paying attention to the dynamics of the US government bonds yield. Positions should be opened from the key levels.
The news feed on the economy of Japan is calm.
The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.
The MACD histogram is located 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 is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 111.400, 111.200, 110.900
Resistance levels: 111.650, 111.850, 112.000
If the price fixes above the resistance level of 111.650, the USD/JPY quotes are expected to grow. The movement is tending to 111.850-112.000.
Alternative option. If the price fixes below the “local” support of 111.400, we recommend looking for entry points to the market to open short positions. The target movement level is 111.200-111.000.
