The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.10316
Open: 1.10271
% chg. over the last day: -0.02
Day’s range: 1.10215 – 1.10334
52 wk range: 1.0884 – 1.1623
An ambiguous technical picture has developed on the EUR/USD currency pair. A trading instrument is consolidating. At the moment, the local support and resistance levels are 1.10150 and 1.10400, respectively. Financial market participants are waiting for new information regarding trade negotiations between the US and China. Today, investors will evaluate important economic releases from Germany. Positions must be opened from key levels.
The Economic News Feed for 15.10.2019:
ZEW economic sentiment index (GER) – 12:00 (GMT+3:00);
ZEW economic sentiment index (EU) – 12:00 (GMT+3:00);
NY Empire State manufacturing activity index (US) – 15:30 (GMT+3:00);
Indicators do not give accurate signals: the price crossed 50 MA.
The MACD histogram is located near the 0 mark.
The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.10150, 1.09900, 1.09650
Resistance levels: 1.10400, 1.10600
If the price consolidates above the resistance level of 1.10400, expect further growth toward 1.10700-1.10900.
Alternatively, the quotes can decrease toward 1.09900-1.09700.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.26237
Open: 1.26016
% chg. over the last day: -0.06
Day’s range: 1.26008 – 1.26371
52 wk range: 1.1959 – 1.3385
The British pound stabilized after a significant rally last week. Optimism over the settlement of the Brexit process began to weaken. EU diplomats said they want additional concessions from Prime Minister Boris Johnson. Currently, the GBP/USD currency pair is consolidating. The local support and resistance levels are: 1.25700 and 1.26450, respectively. We are expecting important economic reports from the UK. We recommend opening positions from key levels.
At 11:30 (GMT+3:00), UK will publish the labor statistics. Keep an eye on the speech by the head of the Bank of England.
The price fixed above 50 MA and 100 MA, which signals the strength of buyers.
The MACD histogram is located in the positive zone and above the signal line, which gives a strong 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: 1.25700, 1.25150, 1.24250
Resistance levels: 1.26450, 1.27000
If the price consolidates above 1.26450, expect further growth toward 1.27000-1.27400.
Alternatively, the quotes will reduce toward 1.25200-1.24800.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.32012
Open: 1.32345
% chg. over the last day: +0.18
Day’s range: 1.32181 – 1.32345
52 wk range: 1.2727 – 1.3664
The USD/CAD currency pair retreated from monthly lows after a sharp fall at the end of last week. CAD is currently consolidating. The local support and resistance levels are 1.32100 and 1.32400, respectively. A trading instrument has the potential to further decline. We recommend that you pay attention to the dynamics of prices for oil. Positions must be opened from key levels.
The publication of important economic reports from Canada is not planned.
Indicators do not give accurate signals: the price crossed 50 MA.
The MACD histogram is near 0.
The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.32100, 1.31800
Resistance levels: 1.32400, 1.32700, 1.33000
If the price consolidates below 1.32100, expect further drop toward 1.31800-1.31500.
Alternatively, the quotes will grow toward 1.32700-1.32900.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 108.343
Open: 108.397
% chg. over the last day: +0.02
Day’s range: 108.281 – 108.447
52 wk range: 104.97 – 114.56
The USD/JPY currency pair stabilized near two-month highs. The trading instrument is currently consolidating. The local support and resistance levels are 108.100 and 108.450, respectively. Investors continue to monitor the progress of trade negotiations between Washington and Beijing. We also recommend paying attention to the dynamics of yield on US government bonds. Positions must be opened from key levels.
n the Asian trading session, some weak data was published on the volume of industrial production and business activity in the Japanese services sector.
Indicators do not give accurate signals: the price crossed 50 MA.
The MACD histogram is near 0.
The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 108.100, 107.750, 107.45
Resistance levels: 108.450, 108.700, 109.000
If the price consolidates above 108.450, expect further growth toward 108.700-109.000.
Alternatively, the quotes could decrease toward 107.800-107.600.
