The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.08051
Open: 1.08470
% chg. over the last day: +0.37
Day’s range: 1.08411 – 1.08569
52 wk range: 1.0777 – 1.1494
EUR/USD quotes have moved away from local lows. The greenback demand has weakened after the release of weak data on inflation in the US. Financial market participants have taken a wait-and-see attitude before today’s speech by Fed Chairman Jerome Powell. Investors assess rumors that the regulator may cut rates into negative territory in the future. At the moment, the EUR/USD currency pair is consolidating in the range of 1.0835-1.0875. A trading instrument has the potential for further growth. Positions should be opened from key levels.
At 15:30 (GMT+3:00), the US producer price index will be published.
Indicators do not give accurate signals: the price has fixed between 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 EUR/USD.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.
Trading recommendations
Support levels: 1.0835, 1.0790, 1.0770
Resistance levels: 1.0875, 1.0895, 1.0925
If the price fixes above 1.0875, further growth of the EUR/USD currency pair is expected. The movement is tending to 1.0900-1.0930.
An alternative could be a drop in EUR/USD quotes to 1.0800-1.0780.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.23310
Open: 1.22597
% chg. over the last day: -0.61
Day’s range: 1.22512 – 1.23013
52 wk range: 1.1466 – 1.3516
Sales prevail on the GBP/USD currency pair. The British pound has reached key extremes. Currently, GBP/USD quotes are consolidating in the range of 1.2250-1.2300. Financial market participants assess the UK GDP report. The Office for National Statistics reported that the country’s GDP fell by 2.0% (q/q) in the first quarter. At the same time, experts forecasted a 2.5% drop (q/q). A trading instrument has the potential for further decline. We recommend opening positions from key levels.
We expect important economic releases from the US.
Indicators signal the power of sellers: the price has fixed below 50 MA and 100 MA.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which also indicates the bearish sentiment.
Trading recommendations
Support levels: 1.2250, 1.2200
Resistance levels: 1.2300, 1.2360, 1.2405
If the price fixes below 1.2250, a further drop in GBP/USD quotes is expected. The movement is tending to the round level is 1.2200.
An alternative could be the growth of the GBP/USD currency pair to 1.2340-1.2370.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.40031
Open: 1.40770
% chg. over the last day: +0.51
Day’s range: 1.40444 – 1.40853
52 wk range: 1.2949 – 1.4668
The USD/CAD currency pair has recovered most of the losses after a sharp decline at the end of last week. The loonie is currently consolidating. Investors expect additional drivers. The local support and resistance levels are 1.4035 and 1.4085, respectively. Today we recommend paying attention to the news feed on the US economy, as well as the dynamics of “black gold” prices. Positions should be opened from key levels.
The news feed on Canada’s economy is calm.
Indicators do not give accurate signals: 50 MA has started crossing 100 MA.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 1.4035, 1.4000, 1.3970
Resistance levels: 1.4085, 1.4120, 1.4170
If the price fixes above the resistance level of 1.4085, further growth of the USD/CAD quotes is expected. The movement is tending to 1.4120-1.4150.
An alternative could be a decrease in the USD/CAD currency pair to 1.4000-1.3970.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 107.628
Open: 107.135
% chg. over the last day: -0.49
Day’s range: 107.003 – 107.276
52 wk range: 101.19 – 112.41
The USD/JPY currency pair has been declining. The trading instrument has updated local lows. The greenback demand has weakened. At the moment, USD/JPY quotes are testing a round level of 107.00. The 107.35 mark is the nearest resistance. The yen has the potential for further growth against the US currency. We expect important economic reports from the US. Positions should be opened from key levels.
The news feed on Japan’s economy is calm.
Indicators do not give accurate signals: the price has fixed between 50 MA and 100 MA.
The MACD histogram is in the negative zone and below the signal line, which gives a strong signal to sell USD/JPY.
Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 107.00, 106.70, 106.45
Resistance levels: 107.35, 107.75
If the price fixes below the round level of 107.00, a further drop in the USD/JPY quotes is expected. The movement is tending to 106.70-106.50.
An alternative could be the growth of the USD/JPY currency pair to 107.60-107.90.
