The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.10775
Open: 1.10566
% chg. over the last day: -0.17
Day’s range: 1.10422 – 1.10604
52 wk range: 1.1034 – 1.1817
USD once again strengthened against a basket of world currencies. EUR/USD quotes updated the key lows. Participants in the financial markets continue to monitor the situation in the international trade. The Chinese Ministry of Commerce confirmed that the parties are discussing and scheduling meetings of trade delegations scheduled for September. The trading instrument is currently consolidating. The local support and resistance levels are: 1.10400 and 1.10700, respectively. The EUR/USD currency pair can decline further. We recommend opening positions from the key levels.
The Economic News Feed for 30.08.2019:
The consumer price index (EU) – 12:00 (GMT+3:00);
Unemployment rate (EU) – 12:00 (GMT+3:00);
Individual Spending Report (US) – 15:30 (GMT+3:00);
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 sentiment.
Stochastic Oscillator has started to leave the oversold zone, the %K line is above the %D line, which gives a signal to buy EUR/USD.
Trading recommendations
Support levels: 1.10400, 1.10000
Resistance levels: 1.10700, 1.10900, 1.11150
If the price consolidates below 1.10400, expect a further descend to 1.10000.
Alternatively, the quotes could recover toward 1.10850-1.11100.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.22049
Open: 1.21803
% chg. over the last day: -0.23
Day’s range: 1.21747 – 1.21918
52 wk range: 1.2015 – 1.3385
The GBP/USD currency pair stabilized after a sharp decline since the beginning of this week. GBP is currently consolidating without a single common trend. The key support and resistance levels are 1.21600 and 1.22000, respectively. Investors expect up-to-date information regarding the Brexit process. Today we recommend paying attention to statistics from the United States. Positions must be opened from the key levels.
The Economic News Feed for 30.08.2019 is calm.
The price fixed below 50 MA and 100 MA, which signals the strength of sellers.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.
The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates bullish sentiment.
Trading recommendations
Support levels: 1.21600, 1.21100, 1.20700
Resistance levels: 1.22000, 1.22500, 1.23000
If the price consolidates above 1.22000, expect the quotes to rise toward 1.22400-1.22600.
Alternatively, the quotes can decrease toward 1.21300-1.21100.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.33063
Open: 1.32897
% chg. over the last day: -0.18
Day’s range: 1.32774 – 1.33111
52 wk range: 1.2727 – 1.3664
CAD is in lateral movement. There is no defined trend. At the moment, USD/CAD quotes are testing the key support and resistance levels at 1.32800 and 1.33150, respectively. Investors took a wait and see attitude before the release of important statistics on the Canadian economy. We also recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.
At 15:30 (GMT+3:00), Canada will publish a GDP report.
Indicators do not give accurate signals: the price crossed 50 MA and 100 MA.
The MACD histogram is close to 0.
The Stochastic Oscillator is in the overbought zone, the %K line crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.32800, 1.32550, 1.32300
Resistance levels: 1.33150, 1.33400
If the price consolidates above 1.33150, expect an increase toward 1.33400-1.33600.
Alternatively, the quotes could drop toward 1.32600-1.32450.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 106.103
Open: 106.517
% chg. over the last day: +0.31
Day’s range: 106.286 – 106.543
52 wk range: 104.97 – 114.56
On the USD/JPY currency pair, bullish sentiment prevails. The trading tool has reached key extremes. Demand for “safe” assets has weakened amid optimism in international trade. At the moment, USD/JPY quotes are consolidating in the range 106.200-106.700. We do not exclude further growth of the trading instrument. We recommend that you pay attention to the dynamics of yield on US government bonds. Positions must be opened from key levels.
A number of controversial economic releases from Japan were published in the Asian trading session.
Indicators indicate the strength of buyers: the price has fixed above 50 MA and 100 MA.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish sentiment.
Trading recommendations
Support levels: 106.200, 105.850, 105.500
Resistance levels: 106.700, 107.000
If the price consolidates above 106.700, expect further growth toward 107,000.
Alternatively, the quotes could drop toward 105.850-105.600.
