by JustForex
The EUR/USD currency pair has moved away from monthly highs. At the moment, quotes are consolidating. Local support and resistance levels are 1.1790 and 1.1835, respectively. US House Speaker Nancy Pelosi announced progress in talks with the White House on a new stimulus package to combat the consequences of the coronavirus pandemic. Today, investors will assess data on economic activity in the Eurozone and the US. Positions should be opened from key levels.
Indicators do not give accurate signals: the price has crossed the 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 is above the %D line, which gives a signal to buy EUR/USD.
If the price fixes above 1.1835, further growth of EUR/USD quotes is expected. The movement is tending to 1.1870-1.1900.
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An alternative could be a decline in the EUR/USD currency pair to 1.1760-1.1730.
GBP/USD quotes have been declining after a sharp growth the day before. Investors have started partially fixing positions. The British pound has set new local lows. At the moment, the GBP/USD currency pair is consolidating in the range of 1.3050-1.3110. Today, financial market participants will assess statistics on economic activity in the UK. Positions should be opened from key levels.
At 11:30 (GMT+3:00), data on economic activity in the UK will be published.
Indicators do not give accurate signals: the price has fixed between 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 indicates the bullish sentiment.
If the price fixes above 1.3110, further growth of the GBP/USD currency pair is expected. The movement is tending to 1.3160-1.3200.
An alternative could be a drop in GBP/USD quotes to the round level of 1.3000.
The loonie is consolidating. The technical pattern is ambiguous. At the moment, the local support and resistance levels are 1.3115 and 1.3155, respectively. The demand for greenback is still quite weak. The USD/CAD currency pair has the potential for further decline. We recommend paying attention to 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: the price has crossed the 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 below the %D line, which gives a signal to sell USD/CAD.
If the price fixes below 1.3115, a further drop in USD/CAD quotes is expected. The movement is tending to 1.3085-1.3050.
An alternative could be the growth of the USD/CAD currency pair to the round level of 1.3200.
The USD/JPY currency pair has become stable after a sharp drop. There is no defined trend. At the moment, a trading instrument is testing local supply and demand zones: 104.40-104.55 and 104.90-105.05, respectively. USD/JPY quotes have the potential for further decline. We recommend paying attention to the dynamics of US government bonds yield. Positions should be opened from key levels.
In September, Japan’s national core consumer price index slowed down by 0.3% (YoY). Experts expected the indicator to fall by 0.4%.
Indicators do not give accurate signals: the price has crossed the 50 MA.
The MACD histogram has started declining again, 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 104.55, a further drop in USD/JPY quotes is expected. The movement is tending to the round level of 104.00.
An alternative could be the growth of the USD/JPY currency pair to 105.20-105.40.
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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