The EUR/USD currency pair
- Prev Open: 1.09720
- Open: 1.10341
- % chg. over the last day: +0.55
- Day’s range: 1.102071.10392
- 52 wk range: 1.09311.1817
Yesterday USD kept losing positions against the basket of the world currencies. The EUR/USD quotes grew by more than 60 points and updated the local maximums. Currently the quotes are consolidating around 1.100001.10350. The currency pair can recover further. Today the market participants will evaluate an array of economic releases from the US. You should open positions from the key levels.
The Economic News Feed for 05.09.2019:
- ADP Nonfarm Employment Change (Aug) (US)15:15 (GMT+3:00);
- Initial Jobless Claims (US)15:15 (GMT+3:00);
- ISM NonManufacturing PMI (US)17:00 (GMT+3:00);
Indicators do not provide precise signals, 50 MA has crossed 200 MA.
The MACD histogram is in the positive zone but below the signal line which gives a weak signal to buy EUR/USD.
The Stochastic Oscillator is in the oversold zone, the %K line has crossed the %D line.
- Support levels: 1.10000, 1.09650, 1.09300
- Resistance levels: 1.10350, 1.10650, 1.10900
If the price fixes above 1.10350, expect further growth toward 1.106501.10900.
Alternatively, the quotes can descend toward 1.097001.09500.
The GBP/USD currency pair
- Prev Open: 1.20724
- Open: 1.22518
- % chg. over the last day: +1.32
- Day’s range: 1.221011.22585
- 52 wk range: 1.19951.3385
The GBP/USD currency pair is showing aggressive purchases. Yesterday, the growth of quotations exceeded 180 points. The trading instrument has set new local highs. The demand for sterling has grown significantly due to a possible delay in the hard Brexit. We recommend that you keep track of current information on this issue. Currently, GBP/USD quotes are consolidating. The key range is 1.218501.22550. Positions must be opened from these marks.
Today, the publication of important economic reports from the UK is not planned.
Indicators do not give accurate signals: 50 MA crossed 100 MA.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy GBP/USD.
The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.
- Support levels: 1.21850, 1.21350, 1.20700
- Resistance levels: 1.22550, 1.23000
If the price consolidates above 1.22550, expect further growth toward 1.23000.
Alternatively, the quotes can drop toward 1.215001.21300.
The USD/CAD currency pair
- Prev Open: 1.33345
- Open: 1.32216
- % chg. over the last day:0.81
- Day’s range: 1.320651.32339
- 52 wk range: 1.27271.3664
The USD/CAD currency pair is dominated by bearish sentiment. During yesterday’s and today’s trading, the drop in quotations exceeded 120 points. CAD reached key extremes. The Bank of Canada, as expected, kept the basic parameters of monetary policy at the same level. The Canadian dollar is supported by the positive dynamics of black gold prices. At the moment, USD/CAD quotes are consolidating in the range of 1.320001.32350. A trading instrument has the potential to further decline. Positions must be opened from key levels.
The news background on the Canadian economy is calm today.
Indicators signal the strength of sellers: the price has fixed below 50 MA and 100 MA.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/CAD.
Stochastic Oscillator is in the oversold zone, the% K line crossed the% D line. There are no signals at the moment.
- Support levels: 1.32000, 1.31500
- Resistance levels: 1.32350, 1.32550, 1.32800
If the price consolidates below the round level of 1.32000, a further drop in the USD/CAD quotes is expected. The potential movement is to 1.316001.31400.
An alternative could be the correction of the USD/CAD currency pair to 1.325501.32700.
The USD/JPY currency pair
- Prev Open: 105.962
- Open: 106.303
- % chg. over the last day: +0.38
- Day’s range: 106.303106.753
- 52 wk range: 104.97114.56
The USD/JPY currency pair has moved up. The Ministry of Commerce of China announced the resumption of trade negotiations with Washington, which are scheduled for October. This information caused a decrease in demand for the safe haven currencies. At the moment, USD/JPY quotes are consolidating. The local support and resistance levels are: 106.300 and 106.700, respectively. A trading instrument has the potential for further growth. Today we recommend paying attention to economic reports from the USA. Positions must be opened from key levels.
The Economic News Feed for 05.09.2019 is calm.
Indicators do not provide accurate signals: 50 MA crossed 100 MA.
The MACD histogram is in the positive zone, indicating a bullish sentiment.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell USD/JPY.
- Support levels: 106.300, 105.850, 105.600
- Resistance levels: 106.700, 107.000
If the price consolidates above 106.700, expect further growth toward 107.000107.200.
Alternatively, the quotes can drop toward 105.900105.600.
by JustforexGO, 2019.09.05
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.