The Analytical Overview of the Main Currency Pairs on 2020.09.14

September 14, 2020

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.18103
  • Open: 1.18356
  • % chg. over the last day: -0.04
  • Day’s range: 1.18433 – 1.18552
  • 52 wk range: 1.0637 – 1.2012

There is no defined trend on the EUR/USD currency pair. This week investors will be focused on the Fed meeting, which will take place on Wednesday, September 16. The regulator is expected to keep the key interest rate unchanged at 0.25%. At the moment, the key support is the level of 1.1835, the key resistance level is 1.1870. We recommend opening positions from these levels.

The publication of economic data is not planned today. We recommend paying attention to the speech by the ECB representative Lane.

EUR/USD

Indicators point to the power 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, which also gives a signal to buy EUR/USD.


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Stochastic Oscillator is located near the overbought zone, the %K line has crossed the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.1835, 1.1800, 1.1755
  • Resistance levels: 1.1870, 1.1900, 1.1940

If the price fixes above 1.1870, EUR/USD quotes are expected to grow. The movement is tending to the round level of 1.1900.

An alternative could be a decline in the EUR/USD currency pair to 1.1800-1.1755.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27942
  • Open: 1.27753
  • % chg. over the last day: -0.08
  • Day’s range: 1.28403 – 1.28473
  • 52 wk range: 1.1409 – 1.3516

The GBP/USD currency pair is still being traded at local lows. The British currency is under pressure since the UK may not conclude a trade agreement with the EU until the end of the transition period after Brexit. The EU has demanded Britain to urgently abandon its intentions to violate the terms of the agreement to exit from the bloc, but the government of Prime Minister Boris Johnson is pushing for a bill that could reverse all outcomes of the Brexit negotiations. At the moment, the key support and resistance levels are 1.2790 and 1.2870, respectively. Positions should be opened from these levels.

Today, the economic news feed in the UK is calm.

GBP/USD

Indicators do not give accurate signals: the price is being traded between 50 MA and 100 MA.

The MACD histogram is near the 0 mark.

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

Trading recommendations
  • Support levels: 1.2790, 1.2750
  • Resistance levels: 1.2870, 1.2930, 1.3000

If the price fixes below 1.2790, a further drop in GBP/USD quotes is expected. The movement is tending to 1.2750-1.2730.

An alternative could be the correction of the GBP/USD currency pair to 1.2900-1.2930.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31861
  • Open: 1.31779
  • % chg. over the last day: -0.12
  • Day’s range: 1.31568 – 1.31624
  • 52 wk range: 1.2949 – 1.4669

The USD/CAD currency pair is in a sideways trend. There is no defined trend. Investors expect additional drivers. At the moment, the key support and resistance levels are 1.3150 and 1.3190, respectively. We recommend paying attention to the dynamics of “black gold” prices. Positions should be opened from key levels.

Today, the news feed in Canada is calm.

USD/CAD

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

The MACD histogram is near the zero mark. There are no accurate signals.

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

Trading recommendations
  • Support levels: 1.3150, 1.3110, 1.3070
  • Resistance levels: 1.3190, 1.3230, 1.3265

If the price fixes below 1.3150, USD/CAD quotes are expected to fall. The movement is tending to 1.3110-1.3090.

An alternative could be the growth of the USD/CAD currency pair to 1.3230-1.3250.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.169
  • Open: 106.066
  • % chg. over the last day: +0.01
  • Day’s range: 105.907 – 105.989
  • 52 wk range: 101.19 – 112.41

During today’s trading session, the USD/JPY currency pair has been declining. Investors expect Japan’s Liberal Democratic Party to elect its Chairman today, who will become the country’s Prime Minister. The key candidate for this post is Yoshihide Suga, Japan Chief Cabinet Secretary. At the moment, the local support and resistance levels are: 105.90 and 106.25, respectively. Positions should be opened from key support and resistance levels.

The publication of major economic news from Japan is not expected today.

USD/JPY

Indicators point to the power of sellers: the price is being traded below 50 MA and 100 MA.

The MACD histogram is in the negative zone and below the signal line, which also gives a signal to sell USD/JPY.

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

Trading recommendations
  • Support levels: 105.90, 105.60
  • Resistance levels: 106.25, 106.50, 106.90

If the price fixes below 105.90, USD/JPY quotes are expected to decline. The movement is tending to 105.60-105.40.

An alternative could be the correction of the USD/JPY currency pair to 106.50-106.70.

by JustForex

 

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.