The Analytical Overview of the Main Currency Pairs on 2020.06.30

June 30, 2020

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12166
  • Open: 1.12361
  • % chg. over the last day: +0.17
  • Day’s range: 1.12041 – 1.12518
  • 52 wk range: 1.0777 – 1.1494

There is an ambiguous technical pattern on the EUR/USD currency pair. The trading instrument is in a sideways trend. At the moment, the local support and resistance levels are 1.1210 and 1.1250, respectively. The demand for risky assets has been resumed amid signs of global economic recovery. Financial market participants expect a speech by the Fed Chairman. Positions should be opened from key levels.

The Economic News Feed for 2020.06.30:
  • – Consumer price index in the Eurozone at 12:00 (GMT+3:00);
  • – CB consumer confidence index in the US at 17:00 (GMT+3:00).

At 19:30 (GMT+3:00), the Fed Chairman will give a speech.

EUR/USD

Indicators do not give accurate signals: 50 MA has crossed 100 MA.

The MACD histogram has started declining, which indicates the development of bearish sentiment.


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Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy EUR/USD.

Trading recommendations
  • Support levels: 1.1210, 1.1175, 1.1140
  • Resistance levels: 1.1250, 1.1285, 1.1310

If the price fixes below the level of 1.1210, EUR/USD quotes are expected to fall. The movement is tending to 1.1175-1.1140.

An alternative could be the growth of the EUR/USD currency pair to 1.1280-1.1300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23313
  • Open: 1.22995
  • % chg. over the last day: -0.34
  • Day’s range: 1.22595 – 1.23170
  • 52 wk range: 1.1466 – 1.3516

The GBP/USD currency pair shows a negative trend. The British pound has set new local lows. Currently, GBP/USD quotes are consolidating in the range of 1.2260-1.2315. The British pound is still under pressure amid weak UK GDP report. A trading instrument has the potential for further decline. Today we recommend paying attention to the news feed on the US economy. Positions should be opened from key levels.

GBP/USD

Indicators signal the power of sellers: the price has fixed below 50 MA and 100 MA.

The MACD histogram is in the negative zone, which gives a signal to sell GBP/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the development of bullish sentiment.

Trading recommendations
  • Support levels: 1.2260, 1.2200
  • Resistance levels: 1.2315, 1.2385, 1.2435

If the price fixes below 1.2260, a further fall in GBP/USD quotes is expected. The movement is tending to the round level of 1.2200.

An alternative could be the growth of the GBP/USD currency pair to 1.2360-1.2400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.36766
  • Open: 1.36588
  • % chg. over the last day: -0.16
  • Day’s range: 1.36528 – 1.36949
  • 52 wk range: 1.2949 – 1.4668

The loonie has become stable. USD/CAD quotes are in a sideways trend. There is no defined trend. The key support and resistance levels are 1.3650 and 1.3715, respectively. Financial market participants expect additional drivers. We recommend paying attention to the dynamics of “black gold” prices. Positions should be opened from key levels.

At 15:30 (GMT+3:00), Canada’s GDP data will be published.

USD/CAD

Indicators indicate the power of buyers: the price has fixed above 50 MA and 100 MA.

The MACD histogram has started rising, which indicates the development of bullish sentiment.

Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.3650, 1.3615, 1.3560
  • Resistance levels: 1.3715, 1.3750

If the price fixes above 1.3715, further growth of USD/CAD quotes is expected. The movement is tending to 1.3750-1.3770.

An alternative could be a decrease in the USD/CAD currency pair to 1.3620-1.3580.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.072
  • Open: 107.563
  • % chg. over the last day: +0.17
  • Day’s range: 107.527 – 107.787
  • 52 wk range: 101.19 – 112.41

Purchases prevail on the USD/JPY currency pair. The trading instrument has overcome and fixed above the key extremes. At the moment, the “safe haven” currency is consolidating. The local support and resistance levels are 107.55 and 107.85, respectively. USD/JPY quotes have the potential for further growth. 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 quite calm.

USD/JPY

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.

Trading recommendations
  • Support levels: 107.55, 107.35, 107.05
  • Resistance levels: 107.85, 108.20

If the price fixes above 107.85, further growth of USD/JPY quotes is expected. The movement is tending to 108.20-108.40.

An alternative could be a decrease in the USD/JPY currency pair to 107.35-107.10.

by JustForex