by JustForex
An ambiguous technical picture has developed on the EUR / USD currency pair. The trading instrument is in lateral movement. Unidirectional trends are not observed. Participants in financial markets expect additional drivers. At the moment, the following key support and resistance levels can be distinguished: 1.10200 and 1.10600, respectively. We do not rule out further recovery of the single currency. We recommend that you keep track of up-to-date information regarding trade negotiations between Washington and Beijing. Positions must be opened from key levels.
At 17:00 (GMT + 3: 00), a JOLTS report will be published in the United States.
Indicators do not give accurate signals: the price is consolidating near 50 MA and 100 MA.
The MACD histogram is close to 0.
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 1.10600, expect further growth toward 1.11000.
Alternatively, the quotes can decrease toward 1.09900-1.09700.
The GBP/USD currency has moved up again. The trading instrument reached the two-month highs. Members of the House of Commons of the British Parliament voted against early elections due to Brexit. Additional support for GBP was provided by positive a positive GDP report and the data on the volume of production in the country’s manufacturing industry. Currently, GBP/USD quotes are consolidating. The key range is 1.23150-1.23800. The GBP/USD currency pair can grow further. Open positions from the key levels.
At 11:30 (GMT+3:00), investors will evaluate the report on the labor market in the UK.
Indicators signal the strength of buyers: the price has fixed above 50 MA and 100 MA.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy 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 above the resistance level of 1.23800, expect further growth toward 1.24200-1.24400.
Alternatively, the quotes could drop toward 1.22600-1.22400.
The USD/CAD currency pair has stabilized after a sharp drop since the beginning of this month. CAD is currently consolidating. There is no defined trend. The local support and resistance levels are: 1.31550 and 1.31900, respectively. A trading instrument has the potential to further decline. The Canadian dollar is further supported by the positive dynamics of oil quotes. Positions must be opened from key levels.
At 15:30 Canada will publish a report on construction permits.
Indicators do not give accurate signals: the price crossed 50 MA.
The MACD histogram is near 0.
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 1.31550, expect a further drop toward 1.31200-1.31000.
Alternatively, the quotes can recover toward 1.32200-1.32400.
The USD/JPY currency pair continues to show positive dynamics. The trading tool again updated local highs. The USD/JPY quotes found resistance at 107.450. Mark 107.150 is already a “mirror” support. The USD/JPY currency pair has the potential for further growth. We recommend that you pay attention to the dynamics of yield on US government bonds. Positions must be opened from key levels.
The Economic News Feed for 10.09.2019 is calm.
Indicators signal the strength of buyers: the price has fixed above 50 MA and 100 MA.
The MACD histogram is in the positive zone and above the signal line, indicating bullish sentiment.
The Stochastic Oscillator is in the neutral zone, the% K line is below the% D line, which gives a signal to sell USD / JPY.
If the price consolidates above 107.450, expect further growth toward 108.000.
Alternative, the quotes can drop toward 106.900-106.800.
by JustForex
