Analytics by JustForex
Yesterday, the EUR/USD currency pair was defined by the aggressive purchases. The quotes have grown by almost 150 points. The USD weakened against the EUR after the publication of the weak economic stats. At the moment, the local support and resistance levels are 1.14100 and 1.14450 respectively. Positions should be opened from these levels. The trading instrument has a potential for further growth. The US Labour Market reports are in the spotlight.
The price has fixed above 50 MA and 200 MA, which indicates the power of the buyers.
The MACD histogram is in the positive zone, but above the signal line, which gives a strong signal towards the purchase of EUR/USD.
The 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 above the resistance line 1.14450, we can expect further growth of the EUR/USD quotes. The movement tends towards the 1.15000.
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Alternatively, the price will fix below 1.14100, which means you should look for the market entry points to open short positions. The movement will tend toward 1.13800-1.13500.
The GBP/USD currency pair is also showing aggressive purchasing. During the yesterday’s and today’s trading, the quotes have grown by 250 points. The British pound strengthened against the USD after the news that Great Britain and the EU might reach an agreement on Brexit soon. At the moment, the key support and resistance levels are 1.29900 and 1.30450 respectively. The pound has the potential for further recovery.
The indicators show the power of the buyers: the price fixes above 50 MA and 200 MA.
The MACD histogram is in the positive zone, but below the signal line, which provides a weak signal towards the purchase of the GBP/USD.
The Stochastic Oscillator is in the overbought zone, the %K line is above the %D line, which indicates a bullish sentiment.
If the price fixes above the resistance line 1.30450, we can expect further growth of the GBP/USD currency pair. The movement will tend toward 1.30800-1.31000.
Alternatively, the GBP/USD quotes can fall toward 1.29500-1.29300.
The USD/CAD currency pair is showing an active sell-off. During the yesterday’s and today’s trading, the quotes have fallen by more than 100 points. At the moment, the local support and resistance lines are 1.30500 and 1.30750 respectively. Positions should be opened from these levels. The trading instrument has a potential for further decline.
At 14:30 (GMT+2:00) we expect the Labour Market stats from Canada.
The indicators show the power of the sellers: the price is below 50 МА and 200 МА.
The MACD histogram is in the negative zone and below the signal line, which indicates a bearish mood.
The Stochastic Oscillator is in the overbought zone, the %K line started to cross the %D line. There are no signals at the moment.
If the price fixes above the support level of 1.30500, we can expect further growth of the USD/CAD quotes. The movement will potentially tend toward 1.30200-1.30000.
Alternatively, the currency pair can grow toward 1.31000-1.31300.
The USD/JPY currency pair keeps showing an ambiguous technical picture. The trading instrument is consolidating while the investors are waiting for the additional drivers. At the moment, the local support and resistance levels are 112.800 and 113.100 respectively. Positions should be opened from these levels.
Today we expect no important news from Japan.
The indicators do not provide precise signals, the price went over 50 MA.
The MACD histogram is around 0. There are no signals.
The Stochastic Oscillator is in the neutral zone, the %K line went over the %D line. There are no precise signals.
If the price fixes below the already mirror support of 112.750, the USD/JPY quotes are expected to decline. The movement is tending to 112.500-112.200.
An alternative may be the USD/JPY currency pair growth to 113.350-113.500.
Analytics by JustForex
