by JustForex
The EUR/USD currency pair continues to recover. The trading tool has updated local highs. At the moment, EUR/USD quotes are consolidating in the range of 1.11450-1.11650. In December, the US producer price index was 0.1%, which is below market expectations at 0.2%. Washington and Beijing signed the first phase of the trade agreement. The parties began preparations for the second phase of the transaction. We do not exclude further growth of EUR/USD quotes. Today, participants in financial markets will evaluate a number of important economic releases. Open positions from key levels.
The Economic News Feed for 16.01.2020 is calm.
The price has fixed above 50 MA and 100 MA, which signal the strength of buyers.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy EUR/USD.
The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates a bullish sentiment.
If the price consolidates above 1.11650, expect further growth toward 1.12000.
An alternative could be a decrease in the EUR/USD currency pair to 1.11200-1.11000.
GBP/USD quotes moved to growth. Sterling updated local highs. The trading tool found resistance at 1.30550. 1.30000 is a key support. The GBP/USD currency pair has the potential for further correction. Investors expect up-to-date information on Brexit. Today, the focus is on economic reports from the United States. Positions should be opened from key levels.
The Economic News Feed for 16.01.2020 is calm.
The price has fixed above 100 MA, which signals the strength of buyers.
The MACD histogram is in the positive zone, indicating a bullish sentiment.
The Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.
If the price consolidates above 1.30550, expect further growth toward 1.30900-1.31200.
Alternatively, the quotes could descend toward 1.29700-1.29500.
The USD/CAD currency pair continues to trade in a protracted flat. There is no defined trend. At the moment, USD/CAD is testing the support level of 1.30350. Mark 1.30550 is the nearest resistance. A trading instrument has a downside potential. Today we recommend paying attention to statistics on the US economy, as well as the dynamics of prices for oil. Open positions be opened from key levels.
The Economic News Feed for 16.01.2020 is calm.
Indicators do not give accurate signals: 50 MA crossed 100 MA.
The MACD histogram is in the negative zone but above the signal line, which gives a weak signal to sell USD/CAD.
The Stochastic Oscillator has started to leave the overbought zone, the %K line is below the %D line, which indicates a bearish sentiment.
If the price consolidates below 1.30350, expect the quotes to drop toward 1.30000-1.29800.
Alternatively, the quotes could grow toward 1.30750-1.31000.
The USD/JPY currency pair stabilized after a protracted rally. The trading instrument is currently consolidating. Unidirectional trends are not observed. Participants in financial markets expect additional drivers. The key range is 109.700-110.200. In the near future, technical correction is not ruled out. Today we recommend paying attention to the news background on the US economy. Positions must be opened from key levels.
The Economic News Feed for 16.01.2020 is calm.
Indicators do not give accurate signals: the price crossed 50 MA and 100 MA.
The MACD histogram is near the 0 mark.
The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates bullish sentiment.
If the price consolidates above 110.200, expect further growth toward 110.500-110.700.
Alternatively, the quotes could correct toward 109.400-109.200.
by JustForex
