by JustForex
The bearish sentiment prevails on the EUR/USD currency pair. Quotes have updated local lows again. Demand for risky assets is still quite low amid growing concerns about the beginning of the second wave of the coronavirus pandemic. The World Health Organization has reported a record increase in the number of COVID-19 virus cases in the world. At the moment, the key support and resistance levels are 1.1170 and 1.1220, respectively. A further decline in the trading instrument is possible. Positions should be opened from key levels.
Indicators do not give accurate signals: the price has crossed 50 MA.
The MACD histogram is near the 0 mark.
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 fixes below the level of 1.1170, a further drop in EUR/USD quotes is expected. The movement is tending to 1.1140-1.1120.
An alternative could be the growth of the EUR/USD currency pair to 1.1250-1.1280.
GBP/USD quotes have become stable. The British pound is currently consolidating. There is no defined trend. The key support and resistance levels are 1.2370 and 1.2455, respectively. Financial market participants expect additional drivers. Today we recommend paying attention to economic reports from the UK. A further fall in GBP/USD quotes is possible. Positions should be opened from key levels.
The news feed on the UK economy is calm.
Indicators do not give accurate signals: the price has crossed 50 MA.
The MACD histogram is near the 0 mark.
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 fixes below 1.2370, a further drop in GBP/USD quotes is expected. The movement is tending to the round level of 1.2300.
An alternative could be the growth of the GBP/USD currency pair to 1.2500-1.2550.
The loonie continues to be traded in a prolonged flat. There is no defined trend. At the moment, the key support and resistance levels are 1.3550 and 1.3625, respectively. Investors expect additional drivers. Today, we recommend paying attention to economic releases from the US, as well as the dynamics of “black gold” prices. Positions should be opened from key levels.
The news feed on Canada’s economy is calm.
Indicators do not give accurate signals: the price has crossed 50 MA and 100 MA.
The MACD histogram is near the 0 mark.
Stochastic Oscillator is in the oversold zone, the %K line is below the %D line, which gives a weak signal to sell USD/CAD.
If the price fixes below 1.3550, USD/CAD quotes are expected to fall. The movement is tending to the round level of 1.3500.
An alternative could be the growth of the USD/CAD currency pair to 1.3660-1.3690.
The USD/JPY currency pair continues to be traded in a prolonged flat. There is no defined trend. The key support and resistance levels are still: 106.65 and 107.15, respectively. Financial market participants expect additional drivers. We recommend paying attention to the dynamics of US government bonds yield. Positions should be opened from key levels.
The news feed on Japan’s economy is calm.
Indicators do not give accurate signals: the price has crossed 50 MA.
The MACD histogram is near the 0 mark.
Stochastic Oscillator is in the neutral zone, the %K line has started crossing the %D line. There are no signals at the moment.
If the price fixes below 106.65, USD/JPY quotes are expected to fall. The movement is tending to the round level of 106.00.
An alternative could be the growth of the USD/JPY currency pair to 107.60-107.90.
by JustForex
