by JustForex
The EUR/USD has stabilized after a sharp decline since the beginning of this month. The trading instrument is consolidating. Investors expect additional drivers. Local levels of support and resistance are 1.12100 and 1.12400. Demand for USD remains at a fairly high level after the release of optimistic statistics on the US labor market in June. Quoteshave the can decline further. Today we recommend to pay attention to the Fed and open positions must be opened from key levels.
The Economic News Feed for 09.07.2019:
The price has fixed below 50 MA and 100 MA, which indicates the strength of the sellers.
Еhe MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.
The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.
If the price consolidates below the local support of 1.12100, it will drop further to 1.11700-1.11500.
Alternatively, the quotes can recover to 1.12700-1.13000.
The GBP/USD is in lateral movement. The technical picture is ambiguous. Currently, local support and resistance levels are 1.24900 and 1.25350. GBP still remains under pressure amid uncertainty around Brexit. Earlier, Boris Johnson, who is likely to take the post of Prime Minister of Great Britain, said that the country will probably withdraw from the EU without a deal by October 31. Open positions from key levels.
The Economic News Feed for 09.07.2019 is calm.
The price has fixed below 50 MA and 100 MA, which indicates the strength of the sellers.
The MACD histogram is in the negative zone and continues to decline, which gives a strong signal to sell GBP/USD.
The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.
If the price consolidates below 1.24900, the price will fall toward 1.24600-1.24400.
Alternatively, the quotes can correct toward 1.25600-1.25800.
The USD/CAD currency pair has once again shifted to growth. During yesterday’s and today’s trading, the growth exceeded 45 points. The local support and resistance levels are 1.30850 and 1.31150. The trading instrument can correct further. We recommend to pay attention to the dynamics of oil prices. Positions must be opened from key levels.
The Economic News Feed for 09.07.2019:
The price has fixed above 50 MA and 100 MA, which indicates the power of buyers.
The MACD histogram is in the positive zone and continues to rise, indicating bullish sentiment.
The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.
If the price consolidates above the level of 1.31150, expect growth towards to 1.31350-1.31500.
Alternatively, the quotes could fall toward 1.30600-1.30400.
The USD/JPY currency pair continues to show a positive trend. Trading instrument again updated local maxima. At the moment, the USD/JPY quotes are consolidating. The key support and resistance levels are 108.500 and 108.900, respectively. We do not exclude the further growth of the USD/JPY currency pair. We recommend to pay attention to the dynamics of the yield of US government bonds. Positions must be opened from key levels.
The Economic News Feed for 09.07.2019 is calm.
The price has fixed above 50 MA and 100 MA, which indicates the strength of buyers.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates bearish moods.
If the price consolidates above the level of 108.900, the quotes can grow to 109.300-109.500.
Alternatively, the quotes can descend to 108.300-108.100
by JustForex
