by JustForex
The technical pattern is still ambiguous on the EUR/USD currency pair. A trading instrument is consolidating. Investors expect additional drivers. The second wave of the COVID-19 epidemic remains in the spotlight. Governor of California, Gavin Newsom, imposed new statewide restrictions due to a sharp increase in the number of people infected with coronavirus. At the moment, the key range is 1.1325-1.1370. We expect important economic releases from Germany and the US. Positions should be opened from key levels.
Indicators do not give accurate signals: the price is testing 50 MA.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy EUR/USD.
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 1.1325, EUR/USD quotes are expected to fall. The movement is tending to 1.1300-1.1270.
An alternative could be the growth of the EUR/USD currency pair to 1.1400-1.1420.
GBP/USD quotes have been declining. During yesterday’s and today’s trading sessions, the British pound has lost more than 100 points against the greenback. At the moment, the GBP/USD currency pair is testing the support level of 1.2510. The 1.2555 mark is the nearest resistance. A trading instrument has the potential for further decline. Great Britain published a weak report on the country’s GDP. Positions should be opened from key levels.
We recommend paying attention to economic releases from the US.
Indicators signal the power of sellers: the price has fixed below 100 MA.
The MACD histogram is in the negative zone, indicating the bearish sentiment.
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 1.2510, a further fall in GBP/USD quotes is expected. The movement is tending to 1.2470-1.2440.
An alternative could be the growth of the GBP/USD currency pair to 1.2580-1.2620.
Purchases prevail on the USD/CAD currency pair. The trading instrument has updated local highs. USD/CAD quotes found resistance at 1.3645. The 1.3610 mark is already a “mirror” support. The continuation of the upward trend is possible. We recommend paying attention to the dynamics of “black gold” prices. Positions should be opened from key levels.
The news feed on Canada’s economy is calm.
Indicators signal the power of buyers: the price has fixed above 50 MA and 100 MA.
The MACD histogram is in the positive zone, indicating the bullish sentiment.
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 above 1.3645, further growth of the USD/CAD quotes is expected. The movement is tending to the round level of 1.3700.
An alternative could be a decrease in the USD/CAD currency pair to 1.3585-1.3560.
USD/JPY quotes have been growing. The trading instrument has updated local highs. At the moment, the USD/JPY currency pair is testing the following support and resistance levels: 107.10 and 107.35, respectively. The technical pattern signals a further increase in USD/JPY quotes. We recommend payштп 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 100 MA.
The MACD histogram is in the positive zone, indicating the bullish sentiment.
Stochastic Oscillator is in the overbought zone, the %K line has crossed the %D line. There are no signals at the moment.
If the price fixes above 107.35, further growth of the USD/JPY quotes is expected. The movement is tending to 107.60-107.80.
An alternative could be a decrease in the USD/JPY currency pair to 106.90-106.70.
by JustForex
