The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.12407
Open: 1.12514
% chg. over the last day: +0.12
Day’s range: 1.12506 – 1.12656
52 wk range: 1.1111 – 1.2009
USD stabilized around the 7-month minumums against the basket of the world currencies. It is under pressure due to growing prospects that the Federal Reserve will lower the key interest rates this year. The Central Bank representatives are worried about the low inflation as well as a trade conflicts escalating in the world economy. According to the CME Firewatch Tool, 55% of the financial markets expect the Federal reserve to lower the key interest range on the meeting on Jule 31. The quotes are currently moving sideways, the key range being 1.12300-1.12700. The trading instrument can grow further. You should open positions from the key levels.
The Economic News Feed for 05.06.2019:
An array of reports on the economic activity (EU) – 11:00 (GMT+3:00);
Retail Sales Volume (EU) – 12:00 (GMT+3:00);
ADP Nonfarm Employment Change (US) – 15:15 (GMT+3:00);
ISM Non-Manufacturing Business Activity (US) – 17:00 (GMT+3:00);
Beige Book (US) – 21:00 (GMT+3:00);
The price fixed above 50 MA and 200 MA which points to the power of the buyers.
The MACD histogram is in the positive zone but below the signal line which gives a weak signal to buy EUR/USD.
The Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.12300, 1.12150, 1.11900
Resistance levels: 1.12700, 1.13000
If the price fixes above 1.12700, expect further growth towards 1.13000-1.13200.
Alternatively, the quotes can fall towards 1.12000.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.26639
Open: 1.26988
% chg. over the last day: +0.30
Day’s range: 1.26965 – 1.27193
52 wk range: 1.2438 – 1.3631
GBP/USD is in a bullish mood. GBP set the new local maximums. The demand for the USD fell due to the growing threats of the Federal Reserve to decrease the key rates soon. Right now the quotes are testing the 1.27200. 1.26850 acts as a mirror resistance. The trading instrument can recover further. You should open positions from the key levels.
At 11:30 (GMT+3:00) the UK will publish a business activity index in the Service industry.
The price fixed above 50 MA and 200 MA which points to the power of the buyers.
The MACD histogram is in the positive zone and keeps rising which gives a strong signal to buy GBP/USD.
The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which also points to the bullish mood.
Trading recommendations
Support levels: 1.26850, 1.26400, 1.26100
Resistance levels: 1.27200, 1.27450
If the price fixes above the 1.27200 resistance level, expect further growth towards 1.27450-1.27700.
Alternatively, the quotes can fall towards 1.26500-1.26400.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.34403
Open: 1.33923
% chg. over the last day: -0.34
Day’s range: 1.33739 – 1.33970
52 wk range: 1.2727 – 1.3664
USD/CAD showcases agressive sales. During the last two days the quotes fell by 60 points. CAD reached the key minimums. Right now the local support and resistnance are 1.33750 and 1.34000. The demand for USD lowered. The trading instrument has prospects for a further descend. Keep an eye on the US economic releases and open positions from the key levels.
The Economic News Feed for 05.06.2019 is calm.
The indicators point to the power of the sellers, the price fixed below 50 MA and 200 MA.
The MACD histogram is in the negative zone and keeps falling which gives a strong signal to sell USD/CAD.
The Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.33750, 1.33500
Resistance levels: 1.34000, 1.34300, 1.34600
If the price fixes below 1.33750, expect further descend towards 1.33500-1.33300.
Alternatively, the quotes can recover towards 1.34300-1.34500.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 108.054
Open: 108.136
% chg. over the last day: +0.16
Day’s range: 107.971 – 108.271
52 wk range: 104.97 – 114.56
USD/JPY stabilized after a significant fall since the beginning of May. There is no defined trend. The key support and resistance levels are 107.850 and 108.350. JPY has a tendency to grow against the USD. The demand on the safe assets remains high. The investors are watching the key reports from the US. You should open positions from the key levels.
The Economic News Feed for 05.06.2019 is calm.
The indicators do not provide precise signals, the price has crossed 50 MA.
The MACD histogram is close to 0.
The Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 107.850, 107.500
Resistance levels: 108.350, 108.850, 109.200
If the price fixes below 107.850, expect further descend towards 107.500-107.300.
Alternatively, the quotes can recover towards 108.600-108.800.
