The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.16570
Open: 1.17033
% chg. over the last day: +0.41
Day’s range: 1.17022 – 1.17074
52 wk range: 1.0571 – 1.2557
During yesterday’s trading session, the bullish sentiment was observed on the EUR/USD currency pair. The growth of quotes exceeded 60 points. At the moment, the technical pattern is ambiguous: a trading instrument is in a sideways trend. The key support and resistance levels are 1.17000 and 1.17300, respectively. We recommend opening positions from these marks.
The news feed on 2018.07.31:
German unemployment change at 10:55 (GMT+3:00);
Consumer price index in the Eurozone at 12:00 (GMT+3:00);
CB consumer confidence index in the US at 17:00 (GMT+3:00).
Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy EUR/USD.
Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no accurate signals.
Trading recommendations
Support levels: 1.17000, 1.16700, 1.16400
Resistance levels: 1.17300, 1.17600
If the price fixes below the round level of 1.17000, we recommend considering sales of EUR/USD. The movement is tending to 1.16700-1.16400.
Alternative option. If the price fixes above the resistance level of 1.17300, the EUR/USD quotes are expected to rise. The movement is tending to 1.17600-1.17800.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.31090
Open: 1.31359
% chg. over the last day: +0.20
Day’s range: 1.31343 – 1.31452
52 wk range: 1.2361 – 1.4345
There is a variety of trends on the GBP/USD currency pair. At the moment, the local support and resistance levels are 1.31200 and 1.31550, respectively. The positions should be opened from these marks. Investors expect the Bank of England interest rate decision, which will be taken on Thursday, August 2.
Today, the publication of important news from the UK is not expected.
The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.
The MACD histogram is near the 0 mark.
Stochastic Oscillator is located near the overbought zone, the %K line is above the %D line, which gives a signal to buy GBP/USD.
Trading recommendations
Support levels: 1.31200, 1.30750, 1.30300
Resistance levels: 1.31550, 1.32000
If the price fixes below 1.31200, we recommend considering sales of GBP/USD. The movement is tending to 1.30750-1.32300.
Alternative option. If the price fixes above the resistance of 1.31550, the GBP/USD currency pair is expected to grow. The movement is tending to the round level of 1.32000.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.30515
Open: 1.30315
% chg. over the last day: -0.28
Day’s range: 1.30322 – 1.30449
52 wk range: 1.2059 – 1.3795
There is a variety of trends on the USD/CAD currency pair. Investors took a wait-and-see attitude before the Fed meeting, which will be held tomorrow, August 1. At the moment, the key support and resistance levels are 1.30200 and 1.30600, respectively. The positions should be opened from these marks. We recommend paying attention to the dynamics of oil quotes.
At 15:30 (GMT+3:00) data on Canada GDP will be published.
Indicators point to the power of sellers: the price has fixed below 50 MA and 200 MA.
The MACD histogram is near the 0 mark. There are no signals.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell USD/CAD.
Trading recommendations
Support levels: 1.30200, 1.29800
Resistance levels: 1.30600, 1.31000, 1.31500
If the price fixes below the support level of 1.30200, we recommend considering sales of USD/CAD. The movement is tending to 1.29800-1.29600.
If the price fixes above 1.30600, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.31000-1.31200.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 110.936
Open: 112.120
% chg. over the last day: +0.05
Day`s range: 110.919 – 110.994
52 wk range: 104.56 – 114.74
The technical pattern on the USD/JPY currency pair is ambiguous. Quotes are still in a sideways trend. Investors expect additional drivers. At the moment, the trading instrument is moving in the range of 110.900-111.350. Positions should be opened from the key support and resistance levels. We recommend paying attention to the 10-year US government bonds yield.
Today, during the Asian trading session, the Bank of Japan meeting has taken place.
Indicators do not send accurate signals: the price is being traded between 50 MA and 200 MA.
The MACD histogram is near the 0 mark.
Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates the USD/JPY quotes growth.
Trading recommendations
Support levels: 110.900, 110.600
Resistance levels: 111.350, 111.800, 112.200
If the price fixes below the support of 110.900, we recommend considering sales of USD/JPY. The movement is tending to 110.600-110.300.
Alternative option. If the price fixes above the level of 111.350, the USD/JPY currency pair is expected to grow. The movement is tending to 111.800-112.000.
