by JustForex
There is an ambiguous technical pattern on the EUR/USD currency pair. The trading instrument is consolidating. Financial market participants have taken a wait-and-see attitude before the US presidential elections, which are scheduled for November 3. Investors also expect the ECB meeting later this week. At the moment, the local support and resistance levels are 1.1795 and 1.1840, respectively. We recommend opening positions from these marks.
Indicators do not give accurate signals: 50 MA has crossed 100 MA.
The MACD histogram is near the 0 mark. There are no signals at the moment.
Stochastic Oscillator is in the overbought zone, the %K line has crossed the %D line. There are no signals at the moment.
If the price fixes below 1.1795, EUR/USD quotes are expected to fall. The movement is tending to 1.1760-1.1730.
Free Reports:
An alternative could be the growth of the EUR/USD currency pair to 1.1870-1.1900.
The GBP/USD currency pair is in a sideways trend. There is no defined trend. At the moment, the British pound is consolidating near the round level of 1.3000. The 1.3065 mark is the key resistance. Investors expect additional catalysts to set the tone for trading in the foreign exchange market in the coming days. We recommend paying attention to the news feed from the US. Positions should be opened from key levels.
The publication of important UK economic releases is not planned.
Indicators do not give accurate signals: 50 MA has crossed 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 GBP/USD.
If the price fixes below the round level of 1.3000, further correction of the GBP/USD currency pair is expected. The movement is tending to 1.2960-1.2940.
An alternative could be the growth of GBP/USD quotes to 1.3100-1.3120.
Purchases prevail on the USD/CAD currency pair. The trading instrument has updated local highs. Currently, the loonie is testing the “mirror” support at 1.3175. The 1.3210 mark is the nearest resistance. The trading instrument has the potential for further growth. Today, we recommend paying attention to economic releases from the US, 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 signal the power of buyers: the price has fixed above 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 USD/CAD.
Stochastic Oscillator is in the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.
If the price fixes above 1.3210, further growth in USD/CAD quotes is expected. The movement is tending to 1.3235-1.3260.
An alternative could be a decline in the USD/CAD currency pair to 1.3150-1.3125.
The technical pattern on the USD/JPY currency pair is still ambiguous. The trading instrument is consolidating. There is no defined trend. At the moment, the local support and resistance levels are 104.65 and 104.90, respectively. Financial market participants expect additional drivers. 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 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 above the %D line, which indicates the bullish sentiment.
If the price fixes below 104.65, USD/JPY quotes are expected to fall. The movement is tending to 104.40-104.10.
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.
Source: Clive Maund (4/29/24) Technical Analyst Clive Maund shares an update on Revolve Renewable Power…
Source: Michael Ballanger (4/29/24) Michael Ballanger of GGM Advisory Inc. takes a look at the…
By JustMarkets On Monday, the Dow Jones (US30) rose by 0.38%, while the S&P 500 (US500) Index gained 0.32%. The…
By ForexTime FXTM launches 10 new commodities! Copper jumps to two-year high Prices up almost…
By JustMarkets On Friday, the Dow Jones (US30) Index gained 0.40% (for the week +0.32%), while the…
By RoboForex Analytical Department The USD/JPY pair is hovering around 155.00 on Monday, having earlier touched…
This website uses cookies.
