The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.12949
Open: 1.13387
% chg. over the last day: +0.43
Day’s range: 1.13316 – 1.13697
52 wk range: 1.0777 – 1.1494
The EUR/USD currency pair continues to be traded in a flat. There is no defined trend. Financial market participants have taken a wait-and-see attitude before the announcement of the results of the two-day Fed meeting. It is expected that the regulator will keep the key marks of monetary policy at the same level. We recommend paying attention to the comments by the Central Bank representatives. Currently, EUR/USD quotes are consolidating in the range of 1.1320-1.1380. Positions should be opened from these marks.
The Economic News Feed for 2020.06.10:
Inflation report in the US at 15:30 (GMT+3:00);
Fed interest rate decision at 21:00 (GMT+3:00).
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 the bullish sentiment.
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: 1.1320, 1.1250, 1.1195
Resistance levels: 1.1380, 1.1450, 1.1500
If the price fixes above 1.1380, further growth of EUR/USD quotes is expected. The movement is tending to 1.1420-1.1450.
An alternative could be a decrease in the EUR/USD currency pair to 1.1260-1.1220.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.27232
Open: 1.27259
% chg. over the last day: +0.06
Day’s range: 1.27062 – 1.27863
52 wk range: 1.1466 – 1.3516
GBP/USD quotes continue to show a steady uptrend. The British pound has overcome and fixed above key extremes. At the moment, the trading instrument is consolidating near 1.2785. The 1.2725 mark is already a “mirror” support. Today, investors will be focused on the Fed meeting. We recommend opening positions from key levels.
The news feed on the UK economy 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 and above the signal line, which gives a strong signal to buy GBP/USD.
Stochastic Oscillator is near the overbought zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.2725, 1.2635, 1.2585
Resistance levels: 1.2785, 1.2850
If the price fixes above 1.2785, further growth of GBP/USD quotes is expected. The movement is tending to 1.2840-1.2860.
An alternative could be a decrease in the GBP/USD currency pair to 1.2660-1.2630.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.33753
Open: 1.34166
% chg. over the last day: +0.23
Day’s range: 1.33703 – 1.34280
52 wk range: 1.2949 – 1.4668
The USD/CAD currency pair has become stable. The loonie is currently consolidating. The local support and resistance levels are 1.3360 and 1.3425, respectively. Financial market participants expect additional drivers. Today we recommend paying attention to the news feed on the US economy, as well as the dynamics of oil prices. Positions should be opened from key levels.
Today, the publication of important economic releases from Canada is not expected.
Indicators do not give accurate signals: the price has crossed 50 MA.
The MACD histogram has started declining, which indicates the development of bearish sentiment.
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: 1.3360, 1.3300
Resistance levels: 1.3425, 1.3480, 1.3530
If the price fixes below 1.3360, a further drop in USD/CAD quotes is expected. The movement is tending to the round level of 1.3300.
An alternative could be the growth of the USD/CAD currency pair to 1.3480-1.3520.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 108.434
Open: 107.727
% chg. over the last day: -0.64
Day’s range: 107.287 – 107.874
52 wk range: 101.19 – 112.41
The USD/JPY currency pair shows a negative trend. Since the beginning of this week, the yen has increased by more than 200 points against the greenback. The trading instrument has set new local lows. At the moment, USD/JPY quotes are consolidating in the range of 107.30-107.65. The USD/JPY currency pair has the potential for further decline. We expect the results of the Fed meeting. Positions should be opened from key levels.
The news feed on Japan’s economy is calm.
Indicators signal the power of sellers: the price has fixed below 50 MA and 100 MA.
The MACD histogram is in the negative zone and continues to decline, which indicates the bearish sentiment.
Stochastic Oscillator is in the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 107.30, 107.10, 106.70
Resistance levels: 107.65, 107.90, 108.25
If the price fixes below 107.30, a further drop in USD/JPY quotes is expected. The movement is tending to 107.00-106.70.
An alternative could be the growth of the USD/JPY currency pair to 108.00-108.25.
