The Analytical Overview of the Main Currency Pairs on 2020.10.13

The EUR/USD currency pair

• Prev Open: 1.18101
• Open: 1.18105
• % chg. over the last day: +0.01
• Day’s range: 1.17783 – 1.18149
• 52 wk range: 1.0637 – 1.2012

EUR/USD quotes have been declining after prolonged growth. The trading instrument has updated local lows. At the moment, the euro is consolidating in the range of 1.1780-1.1805. Investors expect updates on a new stimulus package in the US, as well as new restrictive measures in Europe and Asia. Further correction of the EUR/USD currency pair is possible. We recommend opening positions from key levels.

• – German ZEW economic sentiment index at 12:00 (GMT+3:00);
• – Report on inflation in the US at 15:30 (GMT+3:00).

Indicators do not give accurate signals: the price has crossed the 100 MA.

The MACD histogram has been declining, 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.

• Support levels: 1.1780, 1.1755, 1.1725
• Resistance levels: 1.1805, 1.1830, 1.1860

If the price fixes below 1.1780, further correction of EUR/USD quotes is expected. The movement is tending to 1.1750-1.1730.

An alternative could be the growth of the EUR/USD currency pair to 1.1830-1.1860.

The GBP/USD currency pair

• Prev Open: 1.30228
• Open: 1.30626
• % chg. over the last day: +0.26
• Day’s range: 1.30146 – 1.30681
• 52 wk range: 1.1409 – 1.3516

The GBP/USD currency pair has become stable after a prolonged rally. At the moment, the British pound is consolidating. Local support and resistance levels are 1.3010 and 1.3055, respectively. In the near future, a technical correction of the trading instrument is possible. Investors expect up-to-date information on the Brexit issue. Positions should be opened from key levels.

The UK published ambiguous labor market data.

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 has crossed the %D line. There are no signals at the moment.

• Support levels: 1.3010, 1.2970, 1.2925
• Resistance levels: 1.3055, 1.3080, 1.3100

If the price fixes above 1.3055, further growth of the GBP/USD currency pair is expected. The movement is tending to 1.3100-1.3120.

An alternative could be the correction of GBP/USD quotes to 1.2970-1.2950.

The USD/CAD currency pair

• Prev Open: 1.31286
• Open: 1.31096
• % chg. over the last day: -0.15
• Day’s range: 1.31071 – 1.31452
• 52 wk range: 1.2949 – 1.4669

The USD/CAD currency pair has become stable after a prolonged fall. At the moment, the trading instrument is consolidating. Financial market participants expect additional drivers. The key support and resistance levels are 1.3100 and 1.3150, respectively. In the near future, a technical correction is possible. Positions should be opened from key levels.

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 has crossed the %D line. There are no signals at the moment.

• Support levels: 1.3100, 1.3050
• Resistance levels: 1.3150, 1.3185, 1.3225

If the price fixes below 1.3100, a further drop in USD/CAD quotes is expected. The movement is tending to 1.3070-1.3050.

An alternative could be the growth of the USD/CAD currency pair to 1.3185-1.3220.

USD/JPY quotes show a negative trend. The trading instrument has updated local lows. At the moment, the USD/JPY currency pair is consolidating in the range of 105.25-105.50. The trading instrument has the potential for further decline. We recommend paying attention to the dynamics of US government bonds yield. Positions should be opened from key levels.

The news feed for 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, but above the signal line, which gives a weak 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.

• Support levels: 105.25, 105.00
• Resistance levels: 105.50, 105.65, 105.80

If the price fixes below 105.25, a further fall in USD/JPY quotes is expected. The movement is tending to 105.00-104.80.

An alternative could be the growth of the USD/JPY currency pair to 105.70-105.90.