by JustForex
The bearish mood prevails on the EUR/USD currency pair. Trading instrument updated the local lows. At the moment, the key support and resistance levels are 1.11850 and 1.12100. Financial markets participants are no longer sure that Fed will introduce a sharp reduction in the interest rate at the next meeting. Demand for USD slightly recovered. Quotes can decline further. You should open positions from key levels.
At 17:00 (GMT+3:00) the US will publish a secondary real estate sales report.
Indicators point to the strength of sellers: the price has fixed below 50 MA and 100 MA.
The MACD histogram is in the negative zone and below the signal line, which indicates a further drop in EUR/USD quotes.
Stochastic Oscillator is near the oversold zone, the %K line is below the %D line, which gives a weak signal to sell EUR/USD.
If the price fixes below 1.11850, expect further decline toward 1.11500-1.11300.
Alternatively, the quotes can grow toward 1.12300-1.1240.
An ambiguous technical picture emerged on the GBP/USD currency pair. GBP is movind sideways, the local levels of support and resistance are 1.24500 and 1.24850. GBP remains under pressure due to the uncertainty around Brexit. The quotes can descend further. We expect important reports from the United States. Positions must be opened from key levels.
The Economic News Feed for 23.07.2019 is calm.
Indicators do not provide accurate signals, 50 MA started to cross 100 MA.
The MACD histogram is in the negative zone and below the signal line, indicating a drop in GBP/USD quotes.
Stochastic Oscillator is in the oversold zone, the %K line crossed the %D line. There are no signals at the moment.
If the price fixes below 1.24500, expect the qutoes to fall toward 1.24200-1.24000.
Alternatively, the quotes can grow toward 1.25100-1.25400.
There have been some aggressive purchases on the USD/CAD currency pair. Trading tool updated key extremes. At the moment, Looney is testing a local resistance of 1.31400. Mark 1.31150 is already a “mirror” support. USD/CAD can grow further. We recommend to pay attention to the dynamics of oil prices. Positions must be opened from key levels.
The Economic News Feed for 23.07.2019 is calm.
The price has fixed above 50 MA and 100 MA, which indicates the strength of buyers.
The MACD histogram is located in the positive zone and above the signal line, which gives a strong signal to buy USD/CAD.
Stochastic Oscillator is in the overbought zone, the %K line crossed the %D line. There are no signals at the moment.
If the price consolidates above 1.31400, expect further growth to 1.31800-1.32000.
Alternatively, the quotes canfakk toward 1.31000-1.30800.
Buyers prevail on the USD/JPY. The trading instrument has updated local maximums. At the moment, the USD/JPY quotes are testing the supply zone of 108.200-108.350. The key support is 107.900. The currency pair can grow further. Pay attention to economic releases, as well as the US Treasury bond’s yield. Open positions from the key levels.
The Economic News Feed for 23.07.2019 is calm.
The indicators do not provide precise signals.
The MACD histogram is in the positive zone and above the signal line, which gives a signal to buy USD/JPY.
The Stochastic Oscillator is i the overbought zone, the %K line crossed the %D line. There are no singals.
If the price consolidates above the 108.200 mark, the quotes can grow toward 108.500-108.700.
Alternatively, the quotes can descend toward 107.700-107.500
by JustForex
