Analytical overview of the major currency pairs

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EUR/USD . currency pair

Technical indicators for the currency pair:

Previous : 1.09107
Open: 1.09152
% over the last day: +0.08
Today's range: 1.09052 - 1.09209
52 week range: 1.0879 - 1.1572

EUR/USD is stable after a prolonged decline. At the moment, the trading instrument is consolidating near the 1.09000 round level. The 1.09400 mark is the main resistance. In the near future, a technical correction of the EUR/USD price is not ruled out. The Federal Reserve Chairman said he expects continued Treasury purchases by his department into the second quarter of 2020. Jerome Powell believes it is too early to draw conclusions about the effects of the coronavirus on the US economy. We recommend opening positions from key levels.

Today, the news is quiet enough.

Analytical overview of the major currency pairs

The indicators indicate the strength of the sellers: the price has settled below the 50 MA and the 100 MA.

The MACD histogram is in the negative territory, which indicates a bearish sentiment.

The stochastic is oversold, and the %K line is below the D line, which gives a weak signal to sell EUR/USD.

Trading Recommendations

Support levels: 1.09000, 1.08700
Resistance levels: 1.09400, 1.09700, 1.09900

If the price is steady below the round level at 1.09000, another drop in EUR/USD prices is expected. The movement tends to 1.08700-1.08500.

The alternative is the growth of the EUR/USD to 1.09700-1.09900.

Currency pair GBP/USD

Technical indicators for the currency pair:

Previous: 1.29148
Open: 1.29518
% over the last day: +0.32
Today's range: 1.29484 - 1.29689
52 week range: 1.1959 - 1.3516

GBP/USD is recovering. The trading instrument has reached the highest local levels. Yesterday, Great Britain published a series of optimistic economic data, which supports the British pound. At the moment, the GBP/USD is consolidating in the range of 1.29200-1.2970. The technical pattern indicates an additional correction of the Pound against the US Dollar. Positions must be opened from key levels.

The news feeds on the UK economy to some extent.

Analytical overview of the major currency pairs

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

The MACD histogram has moved into positive territory, indicating an upward trend.

Stochastic oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell GBP/USD.

Trading Recommendations

Support levels: 1.29200, 1.28750, 1.28400
Resistance levels: 1.29700, 1.30100, 1.30450

If the price holds above 1.29700, further growth in GBP/USD prices is expected. The movement tends to 1.30100-1.30400.

An alternative could be a drop in the GBP/USD currency pair to 1.28800-1.28600.

Currency pair USD/CAD

Technical indicators for the currency pair:

Previous : 1.33168
Open: 1.32870
% during the last day: -0.19
Today's range: 1.32774 - 1.32958
52-week range: 1.2949 - 1.3566

The USD/CAD currency pair fell after a long consolidation. Quotes update local lows. At the moment, the following key support and resistance levels can be identified: 1.32650 and 1.33000, respectively. Chromatic has the ability to grow further. Oil price recovery supports the Canadian dollar. Positions must be opened from key levels.

Important economic releases from Canada will not be published.

Analytical overview of the major currency pairs

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

The MACD histogram is in the negative territory, which indicates a bearish sentiment.

The stochastic oscillator is in the neutral zone, as the %K line crossed the %D line. There are no signals at the moment.

Trading Recommendations

Support levels: 1.32650, 1.32450, 1.32200
Resistance levels: 1.33000, 1.33250

If the price is flat below 1.32650, a correction in the USD/CAD prices is expected. The movement tends to 1.32450-1.32200.

The alternative is the growth of the USD/CAD currency pair to 1.33200-1.33400.

Currency pair USD/JPY

Technical indicators for the currency pair:

Previous: 109.746
Open: 109.783
% over the last day: +0.01
Day range: 109,766 – 109.923
52 week set: 104.45 - 113.53

The USD/JPY currency pair is trading flat. There is no specific direction. The local support and resistance levels are 109.700 and 110.000, respectively. In the near future, technical correction of the trading instrument is not excluded. Investors continue to assess the risks of the epidemic spreading from China. We recommend paying attention to the US government bond yield dynamics. Positions must be opened from key levels.

The news feed on the Japanese economy is quiet.

Analytical overview of the major currency pairs

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

The MACD histogram is near the 0 mark. There are no signals at the moment.

The stochastic oscillator is in the neutral zone, as the %K line crossed the %D line. There are no signals at the moment.

Trading Recommendations

Support levels: 109.700, 109.550, 109.300
Resistance levels: 110.000, 110.250

If the price remains above 110,000, further growth is expected for the USD/JPY price. Movement tends to 110.250-110.400.

An alternative could be a drop in the USD/JPY currency pair to 109.400-109.200.

 

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