The EUR/USD currency pair

• Prev Open: 1.18356
• Open: 1.18604
• % chg. over the last day: +0.23
• Day’s range: 1.18843 – 1.18995
• 52 wk range: 1.0637 – 1.2012

The EUR/USD currency pair has been growing during yesterday’s and today’s trades. Demand for the US currency has declined amid growing interest for risk following positive news about a potential COVID-19 vaccine. AstraZeneca has resumed its latest vaccine trials. However, investors will be cautious before the Fed meeting. At the moment, the key support is the level of 1.1870, the key resistance level is 1.1900. We recommend opening positions from these levels.

• – German ZEW economic sentiment index at 12:00 (GMT+3:00).

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.

Stochastic Oscillator is in the overbought zone, the %K line is below the %D line, which gives a weak signal to sell EUR/USD.

• Support levels: 1.1870, 1.1835, 1.1800
• Resistance levels: 1.1900, 1.1935

If the price fixes above the round level of 1.1900, further growth of EUR/USD quotes is expected. The movement is tending to the level of 1.1935-1.1950.

An alternative could be the decline in the EUR/USD currency pair to 1.1835-1.1800.

The GBP/USD currency pair

• Prev Open: 1.27753
• Open: 1.28241
• % chg. over the last day: +0.28
• Day’s range: 1.28440 – 1.28635
• 52 wk range: 1.1409 – 1.3516

During yesterday’s trading session, GBP/USD quotes have increased slightly. Today, investors expect the publication of data on the UK labor market. Vote on the Brexit bill, which could violate all EU agreements, is also in the spotlight. At the moment, the key support and resistance levels are 1.2815 and 1.2880, respectively. Positions should be opened from these levels.

• – Average earnings index including + Bonus at 09:00 (GMT+3:00);
• – Claimant count change at 09:00 (GMT+3:00).

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.

• Support levels: 1.2815, 1.2750
• Resistance levels: 1.2880, 1.2940, 1.3000

If the price fixes above the round level of 1.2880, GBP/USD quotes are expected to grow. The movement is tending to 1.2940-1.2950.

If the price fixes below the key support level of 1.2815, GBP/USD quotes are expected to decline to 1.2750-1.2730.

The USD/CAD currency pair

• Prev Open: 1.31779
• Open: 1.31737
• % chg. over the last day: -0.06
• Day’s range: 1.31459 – 1.31621
• 52 wk range: 1.2949 – 1.4669

The USD/CAD currency pair is being traded without significant changes. 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 support and resistance levels.

Today, the news feed in Canada is calm.

Indicators point to the bearish sentiment: the price is being traded below 50 MA and 100 MA.

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

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

• Support levels: 1.3140, 1.3100, 1.3060
• Resistance levels: 1.3180, 1.3220, 1.3260

If the price fixes below 1.3140, USD/CAD quotes are expected to decline. The movement is tending to 1.3100-1.3080.

An alternative could be the growth of the USD/CAD currency pair to 1.3220-1.3250.

The USD/JPY currency pair

• Prev Open: 106.066
• Open: 105.697
• % chg. over the last day: -0.41
• Day’s range: 105.731 – 105.747
• 52 wk range: 101.19 – 112.41

During yesterday’s trading session, the USD/JPY currency pair dropped sharply amid growing interest for risky assets. The drop in quotes has exceeded 60 quotes. At the moment, local support and resistance levels are 105.65 and 105.90, respectively. A further decline in the trading instrument is possible. Positions should be opened from key support and resistance levels.

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

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, but above the signal line, which also gives a weak signal to sell USD/JPY.

Stochastic Oscillator is near the overbought zone, the %K line is above the %D line, which gives a weak signal to buy USD/JPY.

• Support levels: 105.65, 105.35
• Resistance levels: 105.90, 106.15, 106.45

If the price fixes below 105.65, a further decline in USD/JPY quotes is expected. The movement is tending to 105.35-105.10.

An alternative could be the correction of the USD/JPY currency pair to 106.15-106.30.