The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.17060
Open: 1.16639
% chg. over the last day: -0.37
Day’s range: 1.16596 – 1.16901
52 wk range: 1.0571 – 1.2557
The EUR/USD currency pair is consolidating. A unidirectional trend is not observed. At the moment, the key levels of support and resistance are: 1.16600 and 1.17000 respectively. In the near future, a technical correction after a prolonged rally over the past two weeks is not ruled out. We recommend opening positions from the key levels.
Important economic reports on 2018.08.31:
The consumer price index in the Eurozone at 12:00 (GMT+3:00).
Indicators do not send accurate signals. The price has crossed 50 MA.
The MACD histogram is located near the 0 mark.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 1.16600, 1.16200, 1.15900
Resistance levels: 1.17000, 1.17300
If the price fixes above the round level of 1.17000, further growth of the EUR/USD currency pair is expected. The movement is tending to 1.17300-1.17500.
Alternative option. If the price fixes below the 1.16600 mark, we recommend considering sales of EUR/USD. The movement is tending to 1.16200-1.16000.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.30244
Open: 1.30053
% chg. over the last day: -0.12
Day’s range: 1.29929 – 1.30251
52 wk range: 1.2361 – 1.4345
The GBP/USD has stabilized near the round of 1.30000. At the moment, the quotes are consolidating. The key range is 1.29850-1.30350. The technical pattern indicates the possibility of further recovery of the pound’s rate. Positions must be opened from the key levels. We recommend you to keep track of the current information regarding the Brexit process.
Today, the news feed on the UK economy is calm.
The price has fixed above 50 MA and 200 MA, which signals the power of buyers.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy GBP/USD.
Stochastic Oscillator is located in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.29850, 1.29350, 1.29000
Resistance levels: 1.30350, 1.30600
If the price fixes above the 1.30350 mark, further growth of the GBP/USD currency pair is expected. The target level of movement is 1.30600-1.30750.
Alternative option. If the price fixes below the local support of 1.29850, we recommend considering sales of GBP/USD. The target level of movement is 1.29400-1.29200.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.29077
Open: 1.29708
% chg. over the last day: +0.64
Day’s range: 1.29593 – 1.30230
52 wk range: 1.2059 – 1.3795
Yesterday the bullish sentiment prevailed on the USD/CAD currency pair. The growth of quotations exceeded 70 points. This is due to the release of weak data on Canada’s GDP. Today, the Canadian dollar continued to lose ground. At the moment, the USD/CAD quotations are consolidating. The key range is 1.29850-1.30200. The trading instrument is tending to grow.
Today, the news feed on Canada’s economy is calm.
The price has fixed above 50 MA and 200 MA, which signals the power of buyers.
The MACD histogram is in the positive zone and above the signal line, which indicates the bullish sentiment.
Stochastic Oscillator is located in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.29850, 1.29500, 1.29000
Resistance levels: 1.30200, 1.30500, 1.30850
If the price fixes above the local resistance of 1.30200, further growth of the USD/CAD quotes is expected. The movement is tending to 1.30500-1.30850.
Alternative option. If the price fixes below 1.29850, it is necessary to consider selling USD/CAD. The movement is tending to 1.29500-1.29300.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 111.691
Open: 110.965
% chg. over the last day: -0.59
Day’s range: 110.695 – 111.135
52 wk range: 104.56 – 114.74
The bearish sentiment prevails on the USD/JPY currency pair. During yesterday’s and today’s trading, the drop in quotations was almost 100 points. The trading instrument has updated local extremes. At the moment, USD/JPY is testing the “mirror” support of 110.700. The 110.950 marks the nearest resistance. The USD/JPY quotes is tending to decline.
Ambiguous economic reports were published in the Asian trading session.
Indicators point to the power of sellers: the price has fixed below 50 MA and 200 MA.
The MACD histogram is in the negative zone and below the signal line, which gives a strong signal to sell USD/JPY.
Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which indicates a fall in USD/JPY.
Trading recommendations
Support levels: 110.700, 110.450, 110.250
Resistance levels: 110.950, 111.150, 111.500
If the price fixes below the support level of 110.700, the USD/JPY quotes are expected to fall further. The movement is tending to 110.450-110.250.
Alternative option. If the price fixes above the 110.950 level, one should consider buying USD/JPY. The movement is tending to 111.150-111.400.
