by JustForex
There is an ambiguous technical pattern on the EUR/USD currency pair. The trading instrument is consolidating. Investors have taken a wait-and-see attitude before the publication of the US labor market report for September. Experts forecast the deterioration of key indicators. We recommend paying attention to the difference between the actual and forecasted values. Positions should be opened from key levels.
Indicators do not give accurate signals: the price has crossed the 50 MA.
The MACD histogram is near the 0 mark. There are no signals at the moment.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy EUR/USD.
If the price fixes above 1.1740, further growth of EUR/USD quotes is expected. The movement is tending to 1.1770-1.1800.
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An alternative could be a decline in the EUR/USD currency pair to 1.1670-1.1650.
Trades on the GBP/USD currency pair are still very active. At the same time, there is no defined trend. At the moment, the local support and resistance levels are 1.2870 and 1.2940, respectively. The British pound is tending to grow. Today, financial market participants will be focused on the US labor market report for September. Positions should be opened from key levels.
The news feed on the UK economy is calm.
Indicators do not give accurate signals: the price is consolidating near 50 MA and 100 MA.
The MACD histogram is near the 0 mark. There are no signals at the moment.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy GBP/USD.
If the price fixes above 1.2940, further growth of the GBP/USD currency pair is expected. The movement is tending to the round level of 1.3000.
An alternative could be a drop in GBP/USD quotes to 1.2830-1.2800.
USD/CAD quotes have become stable after a sharp drop the day before. At the moment, the loonie is consolidating. Local support and resistance levels are 1.3295 and 1.3330, respectively. The USD/CAD currency pair has the potential for further decline. Today, we recommend paying attention to economic releases from the US, as well as to the dynamics of “black gold” prices. Positions should be opened from key levels.
Today, the news feed on Canada’s economy is calm.
Indicators do not give accurate signals: the price has crossed the 50 MA.
The MACD histogram is near the 0 mark. There are no signals at the moment.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell USD/CAD.
If the price fixes below 1.3295, a further fall in USD/CAD quotes is expected. The movement is tending to 1.3270-1.3240.
An alternative could be the growth of the USD/CAD currency pair to 1.3355-1.3380.
The USD/JPY currency pair has been declining after a prolonged consolidation. During the Asian trading session, the drop in quotes has exceeded 50 points. The trading instrument has updated local lows. At the moment, the “safe haven” currency is consolidating in the range of 104.95-105.25. USD/JPY quotes have the potential for further decline. Today, we recommend paying attention to economic releases, as well as to the dynamics of US government bonds yield. Positions should be opened from key levels.
Indicators signal the power of sellers: the price has fixed below 50 MA and 100 MA.
The MACD histogram is in the negative zone, which indicates the bearish sentiment.
Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.
If the price fixes below 104.95, a further fall in USD/JPY quotes is expected. The movement is tending to 104.70-104.40.
An alternative could be the growth of the USD/JPY currency pair to 105.50-105.80.
by JustForex
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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