The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.14256
Open: 1.13629
% chg. over the last day: -0.51
Day’s range: 1.13318 – 1.13469
52 wk range: 1.1299 – 1.2557

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Yesterday, the bearish sentiment was observed on the EUR/USD currency pair. The Fed, as the experts expected, kept the range of the key interest rate at the same level of 2.00-2.25%. The regulator noted a stable growth of the economy and a strong labor market. The Central Bank plans to adhere to a gradual increase in interest rates. At the moment, the local support and resistance levels are 1.13250 and 1.13550, respectively. Positions should be opened from these marks. The trading instrument has the potential for further decline.

The news feed on 09.11.2018:

Producer price index in the US at 15:30 (GMT+2:00).

Indicators point to the power of sellers: the price is being traded 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 EUR/USD.

The Stochastic Oscillator is located near the oversold zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 1.13250, 1.13000
Resistance levels: 1.13550, 1.13800, 1.14000

If the price fixes below the support level of 1.13250, a further fall in the EUR/USD quotes is expected. The movement is tending to 1.13000-1.12750.

Alternative option. If the price fixes above the 1.13550 mark, it is necessary to look for entry points to the market to open long positions. The movement is tending to 1.13800-1.14000.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.31227
Open: 1.30607
% chg. over the last day: -0.46
Day’s range: 1.30045 – 1.30209
52 wk range: 1.2662 – 1.4378

The GBP/USD currency pair has been declining. During yesterday’s and today’s trading, the drop in quotes exceeded 120 points. At the moment, the key support and resistance levels are 1.29800 and 1.30400, respectively. We recommend following the current information regarding Brexit. Positions should be opened from the key levels.

The news feed on 09.11.2018:

Data on the UK GDP at 11:30 (GMT+2:00);

The volume of production in the UK manufacturing industry at 11:30 (GMT+2:00).

Indicators do not send accurate signals: the price is being traded between 50 MA and 200 MA.

The MACD histogram is in the negative zone, below the signal line, which gives a strong signal to sell GBP/USD.

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

Trading recommendations

Support levels: 1.29800, 1.29400, 1.29000
Resistance levels: 1.30400, 1.31000, 1.31500

If the price fixes below the support level of 1.29800, a further drop in the GBP/USD quotes is expected. The movement is tending to 1.29400-1.29000.

An alternative may be the GBP/USD currency pair growth to the level of 1.30500-1.30750.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.31130
Open: 1.31552
% chg. over the last day: +0.24
Day’s range: 1.31932 – 1.31945
52 wk range: 1.2248 – 1.3387

Aggressive purchases are observed on the USD/CAD currency pair. During yesterday’s and today’s trading, quotes have risen by more than 100 points. At the moment, local support and resistance levels are 1.31700 and 1.32000, respectively. Positions should be opened from these marks. We recommend paying attention to the dynamics of oil prices. Trading instrument has the potential for further growth.

The news feed on the economy of Canada is quite calm.

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 and above the signal line, which indicates the bullish sentiment.

The Stochastic Oscillator is located near the overbought zone, the %K line is above the %D line, which gives a weak signal to buy USD/CAD.

Trading recommendations

Support levels: 1.31700, 1.31400, 1.31000
Resistance levels: 1.32000, 1.32300

If the price fixes above the round level of 1.32000, we recommend considering purchases of USD/CAD. The movement is tending to 1.32300-1.32500.

An alternative may be a decrease in the USD/CAD currency pair to 1.31400-1.31200.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 113.400
Open: 114.057
% chg. over the last day: +0.38
Day’s range: 113.779 – 113.809
52 wk range: 104.56 – 114.74

Yesterday, the bullish sentiment was observed on the USD/JPY currency pair. At the moment, the technical pattern is ambiguous. Local support and resistance levels are 113.700 and 114.000, respectively. Positions should be opened from these marks. In the near future, technical correction is not excluded. We recommend paying attention to the economic reports from the United States.

Today, the publication of important news from Japan is not expected.

Indicators point to the power of buyers: the price is being traded 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 USD/JPY.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.

Trading recommendations

Support levels: 113.700, 113.400, 113.150
Resistance levels: 114.000, 114.350

If the price fixes below the support of 113.700, correction of the USD/JPY quotes is expected. The movement is tending to 113.400-113.150.

An alternative may be the USD/JPY currency pair growth to 114.350-114.500.

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