The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.10731
Open: 1.09997
% chg. over the last day: -0.72
Day’s range: 1.09903 – 1.10175
52 wk range: 1.0931 – 1.1817

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Aggressive sales were observed on the EUR/USD currency pair yesterday. The fall in quotes exceeded 70 points. The trading instrument is currently consolidating. The local support and resistance levels are: 1.09850 and 1.10150, respectively. Participants in financial markets continue to monitor the development of the situation in the oil market. Today we expect the publication of important economic releases. We recommend opening positions from key support and resistance levels.

The Economic News Feed for 17.09.2019:

ZEW economic sentiment index in Germany and EU – 12:00 (GMT+3:00);

Industrial production in the USA (EU) – 12:00 (GMT+3:00);

Indicators do not give accurate signals: 50 MA began to cross 100 MA.

The MACD histogram is in the negative zone but above the signal line, which gives a weak signal to sell EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line began to cross the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 1.09850, 1.09450
Resistance levels: 1.10150, 1.10550, 1.10850

If the price consolidates above 1.10150, expect further growth toward 1.10500-1.10700.

Alternatively the quotes could decrease to 1.09600-1.09400.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.24649
Open: 1.24248
% chg. over the last day: -0.56
Day’s range: 1.23960 – 1.24316
52 wk range: 1.1995 – 1.3385

The GBP/USD currency pair stabilized after a protracted rally. A trading instrument is consolidating. In the near future, technical correction is not ruled out. At the moment, GBP/USD quotes are testing a round level of 1.24000. Mark 1.24600 acts as local resistance. Investors are waiting for new information regarding the Brexit process. Positions must be opened from key levels.

The Economic News Feed for 17.09.2019 is calm.

Indicators do not give accurate signals, the price has fixed between 50 MA and 100 MA.

The MACD histogram is in the negative zone, which signals a possible correction of the GBP/USD currency pair.

The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 1.24000, 1.23550, 1.22850
Resistance levels: 1.24600, 1.25000

If the price consolidates below the round level of 1.24000, expect a correction toward 1.23600-1.23300.

Alternatively, the quotes can grow toward 1.24900-1.25200.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.32203
Open: 1.32392
% chg. over the last day: +0.21
Day’s range: 1.32343 – 1.32595
52 wk range: 1.2727 – 1.3664

An ambiguous technical picture has developed on the USD/CAD currency pair. Looney is in lateral movement. There is no defined trend. USD/CAD quotes test local support and resistance levels: 1.32350 and 1.32650, respectively. The Canadian dollar is supported by the positive dynamics of oil quotes. We recommend that you closely monitor the development of the situation in the oil market. Positions must be opened from key levels.

At 15:30 (GMT+3:00), data on sales in the manufacturing sector of Canada will be published.

Indicators do not give accurate signals: the price crossed 50 MA.

The MACD histogram is near 0.

The 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: 1.32350, 1.32100, 1.31800
Resistance levels: 1.32650, 1.32850, 1.33150

If the price consolidates below 1.32350, USD/CAD quotes are expected to fall. The potential movement is to 1.32000-1.31800.

An alternative could be the growth of the USD/CAD currency pair to a round level of 1.33000.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 107.531
Open: 108.148
% chg. over the last day: +0.37
Day’s range: 108.022 – 108.369
52 wk range: 104.97 – 114.56

The USD/JPY currency pair continues to trade flat. There is no defined trend. At the moment, the local support and resistance levels are: 107.850 and 108.250, respectively. Demand for safe haven currencies has grown due to the tense situation in the Middle East. In the near future, technical correction of the trading instrument is not ruled out. We also recommend that you pay attention to the dynamics of the yield of US government securities. Positions must be opened from key levels.

The Economic News Feed for 17.09.2019 is calm

Indicators do not give accurate signals: the price is consolidating near 50 MA.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 107.850, 107.500, 107.200
Resistance levels: 108.250, 108.500

If the price consolidates below 107.850, expect a correction toward 107.500-107.200.

Alternatively, the quotes could grow toward 108.500-108.700.

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