The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.10638
Open: 1.10731
% chg. over the last day: +0.11
Day’s range: 1.10678 – 1.10864
52 wk range: 1.0931 – 1.1817
An ambiguous technical picture has developed on the EUR/USD currency pair. A trading instrument is consolidating. Unidirectional trends are not observed. Recall that last week the ECB introduced additional measures to stimulate the eurozone economy. At the moment, participants in financial markets have taken a wait and see attitude before the Fed meeting. The local support and resistance levels are: 1.10550 and 1.10850, respectively. We recommend opening positions from these marks.
The Economic News Feed for 16.09.2019 is calm. At 15:30 (GMT+3:00), the NY Empire State manufacturing activity index will be published.
The price fixed above 50 MA and 100 MA, which signals the strength of 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 near the oversold zone, the %K line crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.10550, 1.10200, 1.09900
Resistance levels: 1.10850, 1.11100, 1.11300
If the price consolidates above the level of 1.10850, consider buying EUR/USD. The potential movement is to 1.11200-1.11400.
Alternatively, the qutoes could decrease toward 1.10300-1.10100.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.23325
Open: 1.24649
% chg. over the last day: +1.36
Day’s range: 1.24563 – 1.25028
52 wk range: 1.1995 – 1.3385
The GBP/USD currency pair continues to show a pronounced upward trend. On Friday, September 13, the quotes grew by more than 170 points. Northern Ireland’s largest political party agreed to accept some of the rules of the European Union after Brexit. Currently, GBP/USD quotes are consolidating. Local levels of support and resistance are: 1.24300 and 1.25000, respectively. In the near future, technical correction is not ruled out. Positions must be opened from key levels.
The Economic News Feed for 16.09.2019 is calm.
The price fixed above 50 MA and 100 MA, which signals the strength of buyers.
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 oversold zone, the %K line crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.24300, 1.23800, 1.22900
Resistance levels: 1.25000, 1.25500
If the price consolidates above the resistance level of 1.25000, expect growth toward 1.25400-1.25600.
Alternatively, the quotes can correct toward 1.23800-1.23400.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.32041
Open: 1.32203
% chg. over the last day: +0.56
Day’s range: 1.32109 – 1.32479
52 wk range: 1.2727 – 1.3664
Today, the USD/CAD currency pair opened with a gap down of more than 60 points. Demand for commodity currencies grew significantly amid a sharp rally of oil quotes. Prices for oil rose by almost 10% after attacks on oil facilities in Saudi Arabia, which led to a loss of about 5-6% of world production of raw materials. At the moment, USD/CAD quotes are consolidating in the range of 1.32100-1.32500. Positions must be opened from these marks.
The Economic News Feed for 16.09.2019 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, but below the signal line, which gives a weak signal to buy USD/CAD.
The Stochastic Oscillator is located near the overbought zone, the %K line is above the %D line, which also indicates bullish sentiment.
Trading recommendations
Support levels: 1.32100, 1.31800, 1.31600
Resistance levels: 1.32500, 1.32850, 1.33150
If the price consolidates above 1.32500, expect further growth 1.32800-1.33000.
Alternatively, the quotes could drop 1.31800-1.31600.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 108.080
Open: 107.531
% chg. over the last day: -0.30
Day’s range: 107.498 – 107.914
52 wk range: 104.97 – 114.56
The USD/JPY currency pair is in lateral movement. Unidirectional trends are not observed. In the near future, technical correction of the trading instrument is not ruled out after a significant increase since the beginning of this month. At the moment, the local support and resistance levels are 107.500 and 107.900, respectively. We recommend that you pay attention to the dynamics of the yield of US government securities. Positions must be opened from key levels.
Japan’s financial markets are closed due to the holiday.
Indicators do not give accurate signals: the price crossed 50 MA and 100 MA.
The MACD histogram is in the negative zone, which indicates a bearish mood.
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: 107.500, 107.150, 106.700
Resistance levels: 107.900, 108.250, 108.500
If the price consolidates below 107.500, expect further correction toward 107.000.
Alternatively, the quotes can grow toward 108.250-108.500.
