The Analytical Overview of the Main Currency Pairs on 2019.06.05

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12407
  • Open: 1.12514
  • % chg. over the last day: +0.12
  • Day's range: 1.12506 – 1.12656
  • 52 wk range: 1.1111 – 1.2009

USD stabilized around the 7-month minumums against the basket of the world currencies. It is under pressure due to growing prospects that the Federal Reserve will lower the key interest rates this year. The Central Bank representatives are worried about the low inflation as well as a trade conflicts escalating in the world economy. According to the CME Firewatch Tool, 55% of the financial markets expect the Federal reserve to lower the key interest range on the meeting on Jule 31. The quotes are currently moving sideways, the key range being 1.12300-1.12700. The trading instrument can grow further. You should open positions from the key levels.

The Economic News Feed for 05.06.2019:

  • - An array of reports on the economic activity (EU) - 11:00 (GMT+3:00);
  • - Retail Sales Volume (EU) – 12:00 (GMT+3:00);
  • - ADP Nonfarm Employment Change (US) – 15:15 (GMT+3:00);
  • - ISM Non-Manufacturing Business Activity (US) – 17:00 (GMT+3:00);
  • - Beige Book (US) – 21:00 (GMT+3:00);
EUR/USD

The price fixed above 50 MA and 200 MA which points to the power of the buyers.

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

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

Trading recommendations
  • Support levels: 1.12300, 1.12150, 1.11900
  • Resistance levels: 1.12700, 1.13000

If the price fixes above 1.12700, expect further growth towards 1.13000-1.13200.

Alternatively, the quotes can fall towards 1.12000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26639
  • Open: 1.26988
  • % chg. over the last day: +0.30
  • Day's range: 1.26965 – 1.27193
  • 52 wk range: 1.2438 – 1.3631

GBP/USD is in a bullish mood. GBP set the new local maximums. The demand for the USD fell due to the growing threats of the Federal Reserve to decrease the key rates soon. Right now the quotes are testing the 1.27200. 1.26850 acts as a mirror resistance. The trading instrument can recover further. You should open positions from the key levels.

At 11:30 (GMT+3:00) the UK will publish a business activity index in the Service industry.

GBP/USD

The price fixed above 50 MA and 200 MA which points to the power of the buyers.

The MACD histogram is in the positive zone and keeps rising which gives a strong signal to buy GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which also points to the bullish mood.

Trading recommendations
  • Support levels: 1.26850, 1.26400, 1.26100
  • Resistance levels: 1.27200, 1.27450

If the price fixes above the 1.27200 resistance level, expect further growth towards 1.27450-1.27700.

Alternatively, the quotes can fall towards 1.26500-1.26400.

Registration

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.34403
  • Open: 1.33923
  • % chg. over the last day: -0.34
  • Day's range: 1.33739 – 1.33970
  • 52 wk range: 1.2727 – 1.3664

USD/CAD showcases agressive sales. During the last two days the quotes fell by 60 points. CAD reached the key minimums. Right now the local support and resistnance are 1.33750 and 1.34000. The demand for USD lowered. The trading instrument has prospects for a further descend. Keep an eye on the US economic releases and open positions from the key levels.

The Economic News Feed for 05.06.2019 is calm.

USD/CAD

The indicators point to the power of the sellers, the price fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone and keeps falling which gives a strong signal to sell USD/CAD.

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

Trading recommendations
  • Support levels: 1.33750, 1.33500
  • Resistance levels: 1.34000, 1.34300, 1.34600

If the price fixes below 1.33750, expect further descend towards 1.33500-1.33300.

Alternatively, the quotes can recover towards 1.34300-1.34500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.054
  • Open: 108.136
  • % chg. over the last day: +0.16
  • Day's range: 107.971 – 108.271
  • 52 wk range: 104.97 – 114.56

USD/JPY stabilized after a significant fall since the beginning of May. There is no defined trend. The key support and resistance levels are 107.850 and 108.350. JPY has a tendency to grow against the USD. The demand on the safe assets remains high. The investors are watching the key reports from the US. You should open positions from the key levels.

The Economic News Feed for 05.06.2019 is calm.

USD/JPY

The indicators do not provide precise signals, the price has crossed 50 MA.

The MACD histogram is close to 0.

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

Trading recommendations
  • Support levels: 107.850, 107.500
  • Resistance levels: 108.350, 108.850, 109.200

If the price fixes below 107.850, expect further descend towards 107.500-107.300.

Alternatively, the quotes can recover towards 108.600-108.800.

by JustForex, 2019.06.05

We recommend you to get acquainted with the daily overview of the news feed.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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