The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.08831
Open: 1.10279
% chg. over the last day: +1.36
Day’s range: 1.10017 – 1.10868
52 wk range: 1.0777 – 1.1494
Greenback significantly weakened relative to its main competitors. During yesterday’s and today’s trading, the growth of EUR/USD quotes exceeded 180 points. The COVID-19 virus epidemic continues to negatively impact the global economy. The US Department of Labor reported that the number of initial applications for unemployment benefits reached a record high and exceeded 3 million. Currently, the EUR/USD currency pair is consolidating in the range of 1.09800-1.10800. The trading instrument can recover further. Open positions from key levels.
The Economic News Feed for 27.03.2020:
data on personal expenses (US) – 14:30 (GMT+2:00).
Indicators signal the power of buyers: the price has fixed above 50 MA and 100 MA.
The MACD histogram is in the positive zone, indicating bullish sentiment.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell EUR/USD.
Trading recommendations
Support levels: 1.09800, 1.08800, 1.08000
Resistance levels: 1.10800, 1.11800
If the price consolidates above the level of 1.10800, the quotes can grow toward 1.11500-1.12000.
Alternatively, the quotes could descend toward 1.09000-1.08500.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.18744
Open: 1.21546
% chg. over the last day: +2.66
Day’s range: 1.21313 – 1.23058
52 wk range: 1.1466 – 1.3516
The GBP/USD currency pair shows a pronounced upward trend. Since the beginning of this week, quotes growth exceeded 550 points. Yesterday, the Bank of England, as expected, kept the basic parameters of monetary policy at the same level. The pound is currently consolidating in the range 1.21300-1.23000. Greenback demand has weakened significantly. The trading instrument can grow further. Open positions from key levels.
The Economic News Feed for 27.03.2020 is calm.
Indicators signal the power of buyers: the price has fixed above 50 MA and 100 MA.
The MACD histogram is in the positive zone, indicating bullish sentiment.
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: 1.21300, 1.19750, 1.18750
Resistance levels: 1.23000, 1.24200
If the price consolidates above the round level of 1.23000, expect the quotes to grow toward 1.24000-1.24500.
Alternatively, the quotes could descend toward 1.12000-1.19500.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.41904
Open: 1.40466
% chg. over the last day: -1.23
Day’s range: 1.39887 – 1.40936
52 wk range: 1.2949 – 1.4668
The USD / CAD currency pair is dominated by a bearish sentiment. USD/CAD quotes again updated local lows. The trading tool found support at 1.39900. 1.41500 is already a mirror resistance. Demand for the US dollar has weakened significantly. USD/CAD quotes can descend further. We recommend you to pay attention to the dynamics of prices of “black gold”. Open positions from key levels.
The Economic News Feed for 27.03.2020 is calm.
Indicators signal the power of sellers: the price has fixed below 50 MA and 100 MA.
MACD is in the negative zone, indicating a bearish sentiment.
The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy USD/CAD.
Trading recommendations
Support levels: 1.39900, 1.38700
Resistance levels: 1.41500, 1.42750, 1.43800
If the price consolidates below 1.39900, expect a descend toward 1.39000-1.38000.
Alternatively, the quotes could grow toward 1.42500-1.43500.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 111.155
Open: 109.458
% chg. over the last day: -1.45
Day’s range: 108.237 – 109.471
52 wk range: 101.19 – 112.41
The USD/JPY currency pair shows a negative dynamic. During yesterday’s and today’s trading, the drop in quotations exceeded 250 points. The trading instrument has set new local lows. At the moment, USD/JPY quotes are consolidating in the range of 108.200-109.300. The yen can descend further. We recommend you to pay attention to the dynamics of yield on US government bonds. Open positions from key levels.
The Economic News Feed for 27.03.2020 is calm.
Indicators signal the power of sellers: the price has fixed below 50 MA and 100 MA.
MACD is in the negative zone, indicating a bearish sentiment.
The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy USD/JPY.
Trading recommendations
Support levels: 108.200, 107.000
Resistance levels: 109.300, 110.000, 110.750
If the price consolidates below 108.200, expect the quotes to correct toward 107.500-107.000.
Alternatively, the quotes could grow toward 110.000-110.700.
