The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.10341
Open: 1.10342
% chg. over the last day: -0.01
Day’s range: 1.10301 – 1.10466
52 wk range: 1.0931 – 1.1817
The US dollar has stabilized against a basket of world currencies. Financial market participants are waiting for the publication of the US labor market report for August. Recent economic releases from the US have been rather optimistic. We recommend that you pay attention to the difference between the actual and forecasted values of the indicators. At the moment, EUR/USD quotes are consolidating in around 1.10100-1.10500. You should open positions from these levels and keep an eye on the head of the Federal Reserve who will make a speech today.
The Economic News Feed for 06.09.2019:
Preliminary GDP Report (EU) – 12:00 (GMT+3:00);
Labour Market Report (US) – 00:00 (GMT+3:00);
The price fixed above 50 MA and 100 MA, which signals the strength of buyers.
The MACD histogram is located near the 0 mark. There are no signals at the moment.
The Stochastic Oscillator is near the overbought zone, the %K line crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.10100, 1.09650, 1.09300
Resistance levels: 1.10500, 1.10850, 1.11150
If the price consolidates above 1.10500, expect further growth toward 1.11000.
Alternatively. the quotes can decrease toward 1.09800-1.09600.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.22518
Open: 1.23260
% chg. over the last day: +0.59
Day’s range: 1.23204 – 1.23429
52 wk range: 1.1995 – 1.3385
The pound continues to recover against the US dollar. Yesterday, the growth of GBP/USD quotes exceeded 80 points. The trading tool has updated the key extremes. Demand for GBP resumed due to a possible delay of Brexit. British Prime Minister Boris Johnson said that the situation with Brexit requires early elections. We recommend that you keep track of current information on this issue. At the moment, the GBP/USD currency pair is consolidating in the range of 1.23000-1.23550. Investors expect labor statistics from the US for August. Positions must be opened from key levels.
The Economic News Feed for 06.09.2019 is calm.
Indicators do not signal 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 GBP/USD.
The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also indicates bullish sentiment.
Trading recommendations
Support levels: 1.23000, 1.22550, 1.22100
Resistance levels: 1.23550, 1.24000
If the price consolidates above 1.23550, expect further growth toward 1.24000.
Alternatively, the quotes could drop toward 1.22600-1.22300.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.32216
Open: 1.32264
% chg. over the last day: +0.05
Day’s range: 1.32067 – 1.32351
52 wk range: 1.2727 – 1.3664
The USD/CAD currency pair stabilized after a sharp decline the day before. Looney is currently in lateral motion. The key support and resistance levels are: 1.31900 and 1.32450, respectively. A trading instrument has the potential to further decline. Today, participants in financial markets will evaluate labor statistics from the United States and Canada. We also recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.
At 15:30 (GMT+3:00) a report on the labor market in Canada will be published.
The price fixed below 50 MA and 100 MA, which signals the strength of sellers.
The MACD histogram is in the negative zone and below the signal line, which gives a strong signal to sell USD/CAD.
The Stochastic Oscillator is in the oversold zone, the %K line began to cross the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.31900, 1.31500
Resistance levels: 1.32250, 1.32450, 1.32800
If the price consolidates below 1.31900, expect a further frop toward 1.31500-1.31400.
Alternatively, the quotes could recover toward 1.32600-1.32900.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 106.303
Open: 106.925
% chg. over the last day: +0.64
Day’s range: 106.888 – 107.102
52 wk range: 104.97 – 114.56
The USD/JPY currency pair continues to show positive dynamics. The trading tool has updated local highs. Quotes USD/JPY found resistance at 107.200. Mark 106.700 is already a “mirror” support. Demand for the safe haven currencies weakened after reports of the resumption of trade negotiations between Washington and Beijing in October. Today we recommend paying attention to the news background on the US economy. Positions must be opened from key levels.
Mixed data on household spending in Japan were published during the Asian trading session.
Indicators signal 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: 106.700, 106.300, 105.850
Resistance levels: 107.200, 107.500
If the price consolidates above 107.200, expect further growth toward 107.500-107.700.
Alternatively, the quotes could drop toward 106.400-106.200.
