The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.09985
Open: 1.09796
% chg. over the last day: -0.16
Day’s range: 1.09770 – 1.09848
52 wk range: 1.0879 – 1.1572
Euro continues to lose ground against USD. EUR/USD quotes have set new local lows. At the moment the trading instrument is consolidating in the range 1.09650-1.09900. Investors took a wait-and-see approach until the publication of the US labor market report for January. Experts predict improvements in the key indicators. We recommend you to pay attention to the difference between actual and forecast values of the indicators. Positions should be opened from key levels.
At 15:30 (GMT+2:00) the US labor statistics will be published.
The indicators signal the sellers’ strength: the price has fixed below 50 MA and 100 MA.
MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates that the sentiment is bearish.
Trading recommendations
Support levels: 1.09650, 1.09200, 1.09000
Resistance levels: 1.09900, 1.10100, 1.10300
If the price fixes below 1.09650, expect further decline toward 1.09000.
Alternatively, the quotes could grow toward 1.10200-1.10400.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.29994
Open: 1.29261
% chg. over the last day: -0.55
Day’s range: 1.29248 – 1.29463
52 wk range: 1.1959 – 1.3516
Bearish sentiment prevails on GBP/USD currency pair. During yesterday’s trading the drop in quotations exceeded 70 points. Sterling has updated the local lows. At the moment GBP/USD quotes are consolidated in the range of 1.29200-1.29600. The technical picture signals a further decline in the trading instrument. We recommend you to pay attention to the US economic releases. Positions should be opened from key levels.
The news background on the UK economy is quite calm.
The price is fixed below 50 MA and 100 MA, which signals the strength of the sellers.
The MACD histogram is in the negative zone, which indicates a bearish sentiment.
The Stochastic Oscillator is in the neutral zone, the %K line started crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.29200, 1.28700
Resistance levels: 1.29600, 1.30100, 1.30450
If the price fixes below 1.29200, expect the quotes to fall toward 1.28800-1.28600.
Alternatively, the quotes could grow toward 1.30000-1.30300.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.32821
Open: 1.32840
% chg. over the last day: +0.01
Day’s range: 1.32824 – 1.32960
52 wk range: 1.2949 – 1.3566
USD/CAD is still moving sideways. There is no defined trend. Investors are waiting for additional drivers. Local support and resistance levels are at 1.32650 and 1.33000 respectively. We expect the release of statistical data on the labor market in Canada and USA. We also recommend you to pay attention to the dynamics of oil prices. Positions should be opened from key levels.
At 15:30 (GMT+2:00) the Canadian labor market report will be published.
Indicators do not give accurate signals: the price is consolidating near 50 MA and 100 MA.
MACD histogram is near the 0 mark.
The Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates a bullish sentiment.
Trading recommendations
Support levels: 1.32650, 1.32450, 1.32200
Resistance levels: 1.33000, 1.33400
If the price fixes above 1.33000, expect further growth toward 1.33400-1.33600.
Alternatively, the quotes could correct toward 1.32300-1.32100.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 109.817
Open: 109.986
% chg. over the last day: +0.14
Day’s range: 109.813 – 110.018
52 wk range: 104.45 – 113.53
The USD/JPY currency pair has stabilized after a significant growth since the beginning of this week. At the moment the trading instrument is consolidating. Local support and resistance levels are at 109.700 and 110.000 respectively. The US labor market report for January is in the focus of attention. We also recommend you to pay attention to the US government securities yield dynamics. Positions should be opened from key levels.
The news background on the Japanese economy is quite calm.
The indicators signal the strength of buyers: the price has fixed above 50 MA and 100 MA.
MACD histogram is close to the 0 mark. There are no accurate signals at the moment.
The Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates a bullish sentiment.
Trading recommendations
Support levels: 109.700, 109.550, 109.300
Resistance levels: 110.00, 110.250
If the price fixes above 110.000, expect further growth toward 110.250-110.500.
Alternatively, the quotes could descend toward 109.400-109.200.
