The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.12133
Open: 1.11704
% chg. over the last day: -0.33
Day’s range: 1.11652 – 1.11796
52 wk range: 1.1034 – 1.1817
The EUR/USD currency pair is still in a sideways trend. A unidirectional trend is not observed. Currently, the EUR/USD quotes are consolidating. The local support and resistance levels are 1.11600 and 1.11900, respectively. The demand for greenback has risen after positive inflation data in the US. Washington plans to postpone the introduction of 10% tariffs on a number of Chinese imports until December 15. We recommend opening positions from the key levels.
The News Feed on 14.08.2019:
According to preliminary data, Germany’s GDP slowed down by 0.1% (q/q) in the second quarter, which met the market expectations.
Today, investors will also assess the following statistics:
Preliminary data on Eurozone GDP at 12:00 (GMT+3:00);
Export and import price indices in the US at 15:30 (GMT+3:00).
Indicators point to the power of sellers: the price has fixed below 50 MA and 100 MA.
The MACD histogram is in the negative zone, which indicates the bearish sentiment.
Stochastic Oscillator is near the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.11600, 1.11150
Resistance levels: 1.11900, 1.12200, 1.12450
If the price fixes below 1.11600, the EUR/USD quotes are expected to fall. The movement is tending to 1.11300-1.11000.
An alternative could be the growth of the EUR/USD currency pair to 1.12200-1.12500.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.20718
Open: 1.20591
% chg. over the last day: -0.09
Day’s range: 1.20447 – 1.20663
52 wk range: 1.2015 – 1.3385
There is an ambiguous technical pattern on the EUR/USD currency pair. The trading instrument is consolidating at the moment. The local support and resistance levels are 1.20450 and 1.20750, respectively. Yesterday, positive data on the UK labor market were published. The British pound is tending to recover after a continuous fall. We recommend monitoring the current information on the Brexit issue. Positions should be opened from the key levels.
At 11:30 (GMT+3:00), a report on inflation will be published in the UK.
Indicators do not give accurate signals: the price has crossed 50 MA.
The MACD histogram is in the negative zone, indicating the bearish sentiment.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the growth of GBP/USD quotes.
Trading recommendations
Support levels: 1.20450, 1.20150, 1.20000
Resistance levels: 1.20750, 1.21050, 1.21400
If the price fixes above 1.20750, the GBP/USD quotes are expected to correct. The movement is tending to 1.21000-1.21300.
An alternative could be a decrease in the GBP/USD currency pair to 1.20150-1.20000.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.32322
Open: 1.32228
% chg. over the last day: -0.08
Day’s range: 1.32106 – 1.32306
52 wk range: 1.2727 – 1.3664
The technical pattern is still ambiguous on the USD/CAD currency pair. The loonie is currently consolidating. The local support and resistance levels are 1.32150 and 1.32500, respectively. The positive dynamics of oil quotes support the Canadian dollar. A trading instrument is tending to decline. We recommend opening positions from the key levels.
The news feed on Canada’s economy is calm.
Indicators do not give accurate signals: 50 MA has crossed 100 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 in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.32150, 1.31850, 1.31250
Resistance levels: 1.32500, 1.32750, 1.33100
If the price fixes above 1.32500, the USD/CAD currency pair is expected to grow. The movement is tending to 1.32850-1.33000.
An alternative could be a fall in the USD/CAD quotes to 1.31850-1.31600.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 105.266
Open: 106.732
% chg. over the last day: +1.23
Day’s range: 106.273 – 106.767
52 wk range: 104.97 – 114.56
Yesterday, the USD/JPY currency pair kept the support level of 105.100, which caused aggressive purchases. The trading instrument has reached new local highs. The demand for greenback has risen significantly after optimistic inflation data in the US. At the moment, the USD/JPY quotes are consolidating in the range of 106.250-106.750. The USD/JPY currency pair has the potential for further correction after a continuous fall. We recommend paying attention to the dynamics of the US government bonds yield. Positions should be opened from the key levels.
The publication of important economic releases from Japan is not planned.
The price has fixed above 100 MA, which signals the power of buyers.
The MACD histogram is 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 line is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 106.250, 105.650, 105.100
Resistance levels: 106.750, 107.300
If the price fixes above 106.750, further correction of the USD/JPY currency pair is expected. The movement is tending to 107.300-107.500.
An alternative could be a fall in the USD/JPY quotes to 105.800-105.600.
