by JustForex
The technical pattern on the EUR/USD currency pair is still ambiguous. The trading instrument is in a sideways trend. A unidirectional trend is not observed. Investors expect additional drivers. At the moment, local support and resistance levels are 1.11650 and 1.12150, respectively. We expect the publication of important economic releases. The EUR/USD quotes are tending to recover. We recommend opening positions from the key levels.
The News Feed on 13.08.2019:
Indicators do not give accurate signals: 50 MA has crossed 100 MA.
The MACD histogram is near the 0 mark.
Stochastic Oscillator is near the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.
If the price fixes above 1.12150, an increase in the EUR/USD quotes is expected. The movement is tending to 1.12450-1.12700.
An alternative could be a decrease in the EUR/USD currency pair to 1.11450-1.11300.
The British pound recovered an insignificant part of losses against the US dollar yesterday. The GBP/USD currency pair has updated local highs. This movement was mostly caused due to technical factors. Currently, the GBP/USD quotes are consolidating in the range of 1.20550-1.20850. We do not exclude further correction of the trading instrument. Investors expect important statistics on the UK economy. Positions should be opened from the key levels.
At 11:30 (GMT+3:00) a report on the labor market will be published in the UK.
Indicators do not give accurate signals: the price is testing 50 MA.
The MACD histogram is near the 0 mark.
Stochastic Oscillator is located near the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.
If the price fixes above 1.20850, further correction of the GBP/USD quotes is expected. The movement is tending to 1.21200-1.21400.
An alternative could be a decrease in the GBP/USD currency pair to 1.20350-1.20150.
The USD/CAD currency pair continues to consolidate. A unidirectional trend is not observed. Financial market participants expect additional drivers. Currently, local support and resistance levels are 1.32150 and 1.32500, respectively. Today we recommend paying attention to economic releases from the United States, as well as the dynamics of oil prices. Positions should be opened from the key levels.
The news feed on Canada’s economy is calm.
Indicators do not give accurate signals: the price has fixed between 50 MA and 100 MA.
The MACD histogram has moved to the positive zone, which points to the power of buyers.
Stochastic Oscillator is near the overbought zone, the %K line has crossed the %D line. There are no signals at the moment.
If the price fixes above 1.32500, the USD/CAD currency pair is expected to grow. The movement is tending to 1.32800-1.33000.
An alternative could be a drop in the USD/CAD quotes to 1.31850-1.31600.
Sales are still prevailing on the USD/JPY currency pair. Demand for “safe” assets remains at a fairly high level. Support is provided by the growth of geopolitical risks in Italy and Hong Kong, as well as the uncertainty in trade demand between Washington and Beijing. At the moment, the USD/JPY quotes are consolidating in the range of 105.100-105.650. Today we recommend paying attention to economic reports from the US. Positions should be opened from the key levels.
The news feed on Japan’s economy is quite calm.
Indicators do not give accurate signals: the price has crossed 50 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 indicates the bearish sentiment.
If the price fixes below 105.100, a further fall in the USD/JPY currency pair is expected. The movement is tending to 104.800-104.600.
An alternative could be the correction of the USD/JPY quotes to 106.000-106.300.
by JustForex
