by JustForex
The EUR/USD currency pair has gone down. Yesterday, the trading instrument fell by almost 50 points and hit key lows. The demand for the euro declined amid worsening economic sentiment in Germany. Additional support for USD was provided by positive data on US retail sales. Fed Chairman Jerome Powell reiterated that the regulator will take “appropriate measures” to ensure the country’s stable economic growth. At the moment, the EUR/USD currency pair is consolidating in the range of 1.12000-1.12250. Quotes EUR/USD have the potential to further decline. We recommend to open positions from key levels.
The Economic News Feed for 17.07.2019:
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, but above the signal line, which gives a weak signal to sell EUR/USD.
The Stochastic Oscillator is located near the overbought zone, the %K line crossed the %D line. There are no signals at the moment.
If the price consolidates below the round level of 1.12000, the quotes will fall toward 1.11700-1.11500.
Alternatively, they could recover toward 1.12400-1.12500.
Currency pair GBP/USD once again moved to a decline. Sterling updated local lows. At the moment, GBP/USD quotes are consolidating. The key range is 1.25100-1.25400. The pound remains under pressure due to the uncertainty around Brexit. Trading instrument can decline further. Today we expect important statistics from the UK. You should open positions from the key levels.
At 11:30 (GMT+3:00) a report on the labor market in the UK will be published.
Indicators do not give accurate signals: the price has crossed 100 MA.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak 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 1.25100, the quotes will fall toward 1.24800-1.24600.
Alternatively, the quotes can grow toward 1.25700-1.25900.
The USD/CAD currency pair has stabilized. CAD is in a lateral movement. Currently, the local support and resistance levels are 1.30350 and 1.30600. In the near future, technical correction of the trading instrument after a long fall is highly possible. We recommend to pay attention to the dynamics of oil prices. Positions must be opened from key levels.
The Economic News Feed for 17.07.2019 is calm.
Indicators do not give accurate signals: prices are fixed between 50 MA and 100 MA.
The MACD histogram is in the positive zone and continues to rise, indicating a correction of the USD/CAD quotes.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, indicating a bearish mood.
If the price consolidates above 1.30600 the quotes can correct toward 1.30900-1.31100.
Alternatively, the quotes can fall toward 1.30000.
The USD/JPY currency pair continues to consolidate. Unidirectional trend is not observed. The safe harbor currency tests local support and resistance levels: 107.800 and 108.100, respectively. Financial market participants expect additional drivers. Today we recommend to pay attention to economic releases from the USA. Positions must be opened from key levels.
The news background on the Japanese economy is calm today.
Indicators do not give accurate signals: the price crossed 50 MA.
The MACD histogram is near0.
The Stochastic Oscillator is in the neutral zone, the% K line is above the% D line, which indicates bullish moods.
If the price consolidates below the 107.800 mark, the quotes can descend toward 107.550-107.400.
Alternatively, the quotes can grow to 108.400-108.600.
by JustForex
