The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.11461
Open: 1.11238
% chg. over the last day: -0.18
Day’s range: 1.11203– 1.11389
52 wk range: 1.1111 – 1.2009
Last week, USD strengthened against a basket of world currencies. The dollar index (#DX) updated the two-month highs and closed in the green . The USD was supported by a number of optimistic economic releases from the USA. The ECB, as expected, kept the main parameters of monetary policy at the same level. The head of the Central Bank, Mario Draghi, said interest rates would remain at or below the level until at least the end of the first half of 2020. Financial market participants expect the Fed meeting, as well as a report on the US labor market in July. At the moment, EUR/USD quotes are consolidating in the range of 1.11150-1.11450. Positions must be opened from these marks.
The Economic News Feed for 29.07.2019 is calm.
Indicators point to the strength of sellers: the price has fixed below 50 MA and 100 MA.
The MACD histogram is in the negative zone and continues to decline, which signals a bearish mood.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which also sends a signal to sell EUR/USD.
Trading recommendations
Support levels: 1.11150, 1.11000
Resistance levels: 1.11450, 1.11850, 1.12100
If the price consolidates below the level of 1.11150, the price will fall toward 1.10800-1.10600.
Alternatively, the price will rise toward 1.11700-1.11900.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.24828
Open: 1.24440
% chg. over the last day: -0.24
Day’s range: 1.24257 – 1.24596
52 wk range: 1.2397 – 1.3385
The bearish mood prevails on the GBP/USD currency pair. During yesterday’s and today’s trading, the drop in quotes exceeded 50 points. The pound has updated local lows. At the moment, the key range is 1.24200-1.24550. GBP/USD quotes have the potential to further decline. Investors are concerned about the “tough” Brexit scenario. Today, financial market participants will evaluate the US GDP report. We recommend to open positions from key levels.
The Economic News Feed for 29.07.2019 is calm.
Indicators do not give accurate signals: 50 MA crossed 100 MA.
The MACD histogram is in the negative zone and continues to decline, indicating a drop in GBP/USD quotes.
The Stochastic Oscillator is in the oversold zone, the %K line crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.24200, 1.23850
Resistance levels: 1.24550, 1.24900, 1.25200
If the price consolidates below 1.24200, the price will fall toward 1.23850-1.23600.
Alternatively, the quotes will grow toward 1.24800-1.25000.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.31395
Open: 1.31556
% chg. over the last day: +0.14
Day’s range: 1.31528 – 1.31683
52 wk range: 1.2727 – 1.3664
The USD/CAD currency pair has once again shifted to growth. CAD updated local maxima. At the moment, the USD/CAD quotes are consolidating near the resistance level of 1.31700. Mark 1.31450 is already a “mirror” support. Trading instrument has the potential for further growth. Financial market participants expect a report on US GDP. We also recommend to pay attention to the dynamics of oil prices. Positions must be opened from key levels.
The Economic News Feed for 29.07.2019 is calm.
Indicators point to the strength of buyers: the price has fixed above 50 MA and 100 MA.
The MACD histogram is in the positive zone and continues to rise, which signals a further increase in the USD/CAD quotes.
The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also indicates bullish moods.
Trading recommendations
Support levels: 1.31450, 1.31200, 1.30950
Resistance levels: 1.31700, 1.32000
If the price consolidates above the level of 1.31700, the price will grow toward 1.32000-1.32200.
Alternatively, the price will drop toward 1.31200-1.31000.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 108.648
Open: 108.629
% chg. over the last day: -0.03
Day’s range: 108.419 – 108.686
52 wk range: 104.97 – 114.56
USD/JPY stabilized after a significant increase last week. At the moment, the trading instrument is consolidating. Unidirectional trend is not observed. The key support and resistance levels are 108.450 and 108.750, respectively. USD / JPY quotes have the potential for further growth. We recommend to pay attention to the dynamics of the yield of US government securities. Positions must be opened from key levels.
The Economic News Feed for 29.07.2019 is calm.
The price fixed above 50 MA and 100 MA which points to the power of the buyers.
The MACD histogram is above 0. There are no signals.
The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which gives a signal to buy USD/JPY.
Trading recommendations
Support levels: 108.450, 108.250, 108.000
Resistance levels: 108.750, 109.000
If the price fixed above 108.750, expect further growth toward 109.000-109.200.
Alternatively, the price will descend toward 108.250-108.100.
