by JustForex
The EUR/USD currency pair
- Prev Open: 1.17060
- Open: 1.16601
- % chg. over the last day: -0.40
- Day’s range: 1.16444 – 1.16798
- 52 wk range: 1.0637 – 1.2012
The EUR/USD currency pair continues to show a negative trend. The trading instrument has updated its local lows again. The demand for safe assets is still quite high due to the renewed increase in the incidence of COVID-19 in many countries around the world. At the moment, EUR/USD quotes are consolidating in the range of 1.1645-1.1680. The single currency has the potential for further decline. Todayб we recommend paying attention to the news feed from the US. Positions should be opened from key levels.
- – German IFO business climate index at 11:00 (GMT+3:00);
- – Initial jobless claims in the US at 15:30 (GMT+3:00);
- – Speech by the Fed Chairman Jerome Powell at 17:00 (GMT+3:00);
- – New home sales in the US at 17:00 (GMT+3:00).
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 indicates the bearish sentiment.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy EUR/USD.
- Support levels: 1.1645, 1.1600
- Resistance levels: 1.1680, 1.1715, 1.1750
If the price fixes below 1.1645, a further fall in EUR/USD quotes is expected. The movement is tending to the round level of 1.1600.
Free Reports:
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
An alternative could be the growth of the EUR/USD currency pair to 1.1715-1.1740.
The GBP/USD currency pair
- Prev Open: 1.29806
- Open: 1.27141
- % chg. over the last day: -0.07
- Day’s range: 1.26903 – 1.27533
- 52 wk range: 1.1409 – 1.3516
The GBP/USD currency pair has become stable after a sharp drop since the beginning of this week. At the moment, the British pound is consolidating. Trading activity and volatility are still high. In the near future, a technical correction of GBP/USD quotes is possible. We expect important economic releases from the US. Positions should be opened from key levels.
The publication of important UK economic reports is not planned.
Indicators do not give accurate signals: the price has crossed the 50 MA.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
- Support levels: 1.2680, 1.2600
- Resistance levels: 1.2770, 1.2820, 1.2865
If the price fixes below 1.2680, a further drop in GBP/USD quotes is expected. The movement is tending to 1.2620-1.2600.
An alternative could be the growth of the GBP/USD currency pair to 1.2820-1.2860.
The USD/CAD currency pair
- Prev Open: 1.33029
- Open: 1.33801
- % chg. over the last day: +0.63
- Day’s range: 1.33722 – 1.34146
- 52 wk range: 1.2949 – 1.4669
There is a steady uptrend on the USD/CAD currency pair. Since the beginning of this week, the growth of quotes has exceeded 200 points. The trading instrument has set new local highs. At the moment, the loonie is consolidating in the range of 1.3370-1.3415. USD/CAD quotes have the potential for further growth. 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, which indicates the bullish sentiment.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a possible correction in USD/CAD quotes.
- Support levels: 1.3370, 1.3335, 1.3290
- Resistance levels: 1.3415, 1.3450
If the price fixes above 1.3415, further growth in USD/CAD quotes is expected. The movement is tending to 1.3450-1.3470.
An alternative could be a decrease in the USD/CAD currency pair to 1.3340-1.3320.
The USD/JPY currency pair
- Prev Open: 106.011
- Open: 105.355
- % chg. over the last day: +0.44
- Day’s range: 105.205 – 105.473
- 52 wk range: 101.19 – 112.41
The bullish sentiment prevails on the USD/JPY currency pair. The trading instrument has set new local highs. At the moment, USD/JPY quotes are consolidating in the range of 105.200-105.550. The trading instrument has 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.
Indicators signal the power of buyers: the price has fixed above 50 MA and 100 MA.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
- Support levels: 105.20, 104.85, 104.45
- Resistance levels: 105.55, 105.80, 106.20
If the price fixes above 105.55, further growth in USD/JPY quotes is expected. The movement is tending to the round level of 106.00.
An alternative could be a decline in the USD/JPY currency pair to 104.90-104.70.
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.
- TSLA shares rose on a weak report. Inflationary pressures are easing in Australia Apr 24, 2024
- USDJPY: On intervention watch Apr 24, 2024
- Euro gains against the dollar amid mixed economic signals Apr 24, 2024
- PMI data is the focus of investors’ attention today. Turkey, Iraq, Qatar, and UAE signed a transportation agreement Apr 23, 2024
- Australian dollar rises on strong economic indicators Apr 23, 2024
- Geopolitical risks in the Middle East are declining. China kept interest rates at lows Apr 22, 2024
- Brent crude dips to four-week low amid easing geopolitical tensions Apr 22, 2024
- COT Metals Charts: Speculator bets led by Copper & Silver Apr 20, 2024
- COT Bonds Charts: Speculator bets led by 10-Year Bonds & Fed Funds Apr 20, 2024
- COT Stock Market Charts: Speculator bets led by S&P500-Mini Apr 20, 2024