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The Analytical Overview Of The Main Currency Pairs

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.17848
Open: 1.18333
% chg. over the last day: +0.39
Day’s range: 1.18007 – 1.18391
52 wk range: 1.0637 – 1.1967

The US dollar continues to show a variety of trends against its main competitors. EUR/USD quotes are consolidating. At the moment, the local support and resistance levels are 1.1800 and 1.1845, respectively. Financial market participants expect a speech by the Fed Chairman at the annual symposium in Jackson Hole, which will be held on August 27-28. The US durable goods orders report will be the key event today. We recommend opening positions from key levels.

The news feed on 2020.08.26:

Data on durable goods orders in the US at 15:30 (GMT+3:00).

Indicators do not give accurate signals: the price has crossed the 50 MA and 100 MA.

The MACD histogram is near the 0 mark.

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

Trading recommendations

Support levels: 1.1800, 1.1785, 1.1755
Resistance levels: 1.1845, 1.1885, 1.1920

If the price fixes below 1.1800, EUR/USD quotes are expected to fall. The movement is tending to 1.1760-1.1740.

An alternative could be the growth of the EUR/USD currency pair to 1.1880-1.1900.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.30558
Open: 1.31429
% chg. over the last day: +0.67
Day’s range: 1.31255 – 1.31593
52 wk range: 1.1409 – 1.3516

The technical pattern on the GBP/USD currency pair is still ambiguous. The British pound is consolidating. Investors expect additional drivers. At the moment, the local support and resistance levels are 1.3115 and 1.3160, respectively. GBP/USD quotes have the potential to decline. Today, we recommend paying attention to economic releases from the US. Positions should be opened from key levels.

The news feed on the UK economy is calm.

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

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 in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.

Trading recommendations

Support levels: 1.3115, 1.3075, 1.3050
Resistance levels: 1.3160, 1.3200, 1.3245

If the price fixes below 1.3115, GBP/USD quotes are expected to fall. The movement is tending to 1.3075-1.3050.

An alternative could be the growth of the GBP/USD currency pair to 1.3200-1.3230.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.32161
Open: 1.31689
% chg. over the last day: -0.36
Day’s range: 1.31593 – 1.31914
52 wk range: 1.2949 – 1.4669

The loonie is still being traded in a flat with a quite wide range. There is no defined trend. At the moment, the local support and resistance levels are 1.3160 and 1.3200, respectively. Investors have taken a wait-and-see attitude before the Jackson Hole symposium. We recommend paying attention to the dynamics of “black gold” prices. Positions should be opened from key levels.

The news feed on Canada’s economy is calm.

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

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

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

Trading recommendations

Support levels: 1.3160, 1.3135, 1.3100
Resistance levels: 1.3200, 1.3230, 1.3245

If the price fixes above 1.3200, USD/CAD purchases should be considered. The movement is tending to 1.3230-1.3250.

An alternative could be a decrease in the USD/CAD currency pair to 1.3135-1.3100.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 105.969
Open: 106.362
% chg. over the last day: +0.37
Day’s range: 106.251 – 106.556
52 wk range: 101.19 – 112.41

USD/JPY quotes have become stable. At the moment, the trading instrument is consolidating. Local support and resistance levels are 106.20 and 106.55, respectively. Financial market participants expect additional drivers. Further growth of the USD/JPY currency pair is possible. Positions should be opened from key levels.

The publication of important economic releases from Japan is not planned.

Indicators signal the power of buyers: the price has fixed above 50 MA and 100 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 oversold zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 106.20, 106.00, 105.70
Resistance levels: 106.55, 106.80, 107.00

If the price fixes above 106.55, further growth of USD/JPY quotes is expected. The movement is tending to the round level of 107.00.

An alternative could be a decline in the USD/JPY currency pair to 105.90-105.70.

 

 

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