The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.13955
Open: 1.14738
% chg. over the last day: +0.60
Day’s range: 1.14322 – 1.14844
52 wk range: 1.1214 – 1.2557
Yesterday the US dollar was weakened against the basket of major currencies. The quotes grew by 80 points. Jerome Powell, the Head of Federal Reserve, mentioned that the further rates of the interest rate growth will be determined by the future reports and the world economy. The pressure on the USD is caused by the weak business activity data in the non-industry economic sector. The EUR/USD is consolidating around 1.14300-1.14600, you should open positions from these levels.
The Economic News Feed for 08.01.2019:
Trading Balance Report (US) – 15:30 (GMT+2:00);
Job Openings and Labor Turnover Survey (US) – 17:00 (GMT+2:00);
The price fixed above 50 MA and 200 MA, which points toward the power of the buyers.
The MACD histogram is around 0. There are no signals at the moment.
The 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: 1.14300, 1.14000, 1.13800
Resistance levels: 1.14600, 1.14850, 1.15000
If the price fixes above 1.14600 expect further growth toward 1.14850-1.15000.
Alternatively the quotes can correct toward 1.14000.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.27152
Open: 1.27767
% chg. over the last day: +0.42
Day’s range: 1.27459 – 1.27971
52 wk range: 1.2438 – 1.4378
GBP/USD recovered the majority of its losses after a sharp decline in the beginning of the month. The pound is being traded in a flat. The quotes are testing the local support and resistance levels at 1.27350 and 1.27900 and have further growth prospects. Investors are waiting for new data on Brexit. Positions should be opened from the key levels.
The Economic News Feed for 08.01.2019 is calm.
The indicators do not provide precise signals, the price has crossed 50 MA and 200 MA.
The MACD histogram is in the positive zone and keeps rising, which points toward a bullish sentiment.
The Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no precise signals.
Trading recommendations
Support levels: 1.26000, 1.25400, 1.25000
Resistance levels: 1.26500, 1.27000, 1.27350
If the price fixes above 1.26500, expect the further correction of the GBP/USD toward 1.27000-1.27400.
Alternatively the quotes can correct toward 1.25500-1.25000.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.35840
Open: 1.34850
% chg. over the last day: -1.14
Day’s range: 1.34449 – 1.34956
52 wk range: 1.2248 – 1.3664
USD/CAD is showing an aggressive sell-off. During the last two days, the quotes have fallen by 130 points. The CAD has updated the local minimums despite being supported by the positive oil quotes trend. The key range is 1.34450-1.34850, you should open the positions from these levels. The currency pair has prospects for further descend, based on the Labour Market reports for US and Canada.
At 15:30 (GMT+2:00) Canada will publish the Labour Market report.
The price fixed below 50 MA and 200 MA which shows the power of the sellers.
The MACD histogram is in the negative zone but above the signal line which gives a weak signal to sell USD/CAD.
The Stochastic Oscillator is around the %K line is above the %D line, which indicates a bullish sentiment.
Trading recommendations
Support levels: 1.32700, 1.32400
Resistance levels: 1.33100, 1.33650, 1.34250
If the price fixes below 1.32700 expect further descend toward 1.32400-1.32200.
Alternatively the quote can correct toward 1.33400-1.33600.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 108.507
Open: 108.700
% chg. over the last day: +0.11
Day’s range: 108.512 – 109.087
52 wk range: 104.56 – 114.56
The USD/JPY quotes keep recovering after a long fall. The save haven currency is testing 109.000. 108.300 is acting as the key support. The downward trend can return soon. The US and China started the negotioations which led to the increase of demand for safe assets. Positions should be opened from the key levels.
The Economic News Feed for 08.01.2019 is calm.
The indicators do not provide precise signals, the price fixed between 50 MA and 200 MA.
The MACD histogram is in the positive zone and above the signal line, which shows the further growth of USD/JPY.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which points toward a bearish mood.
Trading recommendations
Support levels: 108.300, 107.400, 106.500
Resistance levels: 109.000, 109.500
If the price fixes above the round 109.000 exoect further growth of USD/JPY.
Alternatively the quotes can descend toward 108.000-107.800.
