The Analytical Overview of the Main Currency Pairs on 2019.07.01

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13687
  • Open: 1.13643
  • % chg. over the last day: -0.09
  • Day's range: 1.13217 - 1.13712
  • 52 wk range: 1.1111 - 1.2009

The EUR/USD went down and updated the local lows. The key range is 1.13150-1.13550. On Saturday, the leaders of the United States and China were able to negotiate a truce and plan to continue trade negotiations. Keep track of current information on this issue. The key event this week will be the US Labor Market Report for June, which will be published on Friday July 5th. The quotes have the potential for further correction after a protracted rally. We recommend to open positions from key levels.

The Economic News Feed for 01.07.2019:

  • - The business activity index in the manufacturing sector in Germany (EU) – 10:55 (GMT+3:00);
  • - Reports on the German labor market (EU) – 10:55 (GMT+3:00);
  • - The business activity index in the US manufacturing sector from ISM - (EU) – 17:00 (GMT+3:00);
EUR/USD

The indicators indicate the power of sellers: the price has fixed below 50 MA and 100 MA.

MACD.

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 in the oversold zone, the %K line crossed the %D line. There are no signals at the moment.
  • Support levels: 1.13150, 1.12700
  • Resistance levels: 1.13550, 1.13900, 1.14100

If the price consolidates below 1.13150, a further correction of the EUR/USD currency pair is expected towards 1.12800-1.12600.

Alternatively, the quotes can grow towards 1.13800-1.14000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26613
  • Open: 1.26940
  • % chg. over the last day: +0.15
  • Day's range: 1.26779 - 1.27056
  • 52 wk range: 1.2438 - 1.3631

GBP/USD continues to trade in a flat. There is no defined trend. The key support and resistance levels continue to be 1.26650 and 1.27150. The financial market participants expect additional drivers. Today, the investors will evaluate important economic releases from the UK and the USA. We recommend to open positions from key levels.

At 11:30 (GMT + 3: 00) the business activity index in the UK manufacturing sector will be published.

GBP/USD

The indicators do not give accurate signals: the price crossed 50 MA and 100 MA.

The MACD histogram is near the 0 mark.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, indicating a bearish mood.

Trading recommendations
  • Support levels: 1.26650, 1.26400, 1.26000
  • Resistance levels: 1.27150, 1.27600, 1.27850

If the price consolidates below 1.26650, the quotes will rise towards 1.26300-1.26000.

Alternatively, the quotes could grow towards 1.27500-1.27700.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30942
  • Open: 1.30843
  • % chg. over the last day: -0.02
  • Day's range: 1.30814 - 1.31080
  • 52 wk range: 1.2727 - 1.3664

The USD/CAD has stabilized after a significant drop in the past two weeks. At the moment, CAD is consolidating near the round 1.31000. The key support and resistance levels are: 1.30600 and 1.31100. The CAD is supported by the positive dynamics of oil prices. However, in the near future we do not exclude technical correction of the trading instrument. Today we recommend you pay attention to the news background from the United States. Positions must be opened from key levels.

Canada's financial markets are closed due to the holiday.

USD/CAD

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

The MACD histogram is near the 0 mark.

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: 1.30600, 1.30300, 1.30000
  • Resistance levels: 1.31100, 1.31500, 1.32000

If the price consolidates above the level of 1.31100, the quotes will rise towards 1.31500-1.31800.

Alternatively, the quotes can descend towards 1.30400-1.30200.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.776
  • Open: 108.288
  • % chg. over the last day: +0.46
  • Day's range: 108.102 – 108.510
  • 52 wk range: 104.97 – 114.56

On the USD/JPY bullish sentiment continues to prevail. Today, the trading instrument opened with a gap up of more than 35 points. USD / JPY quotes updated local highs. At the moment, the currency pair is testing the resistance level of 108.500. The mark 108.100 is already a “mirror” support. Do not rule out further weakening of the yen against the US dollar. Positions must be opened from key levels.

Pay attention to economic releases from the USA.

USD/JPY

The price has fixed above 50 MA and 100 MA, which indicates the strength of buyers.

The MACD histogram is in the positive zone and above the signal line, which gives a strong signal to buy USD / JPY.

The Stochastic Oscillator is in the neutral zone, the% K line is above the% D line, which also indicates bullish moods.

Trading recommendations
  • Support levels: 108.100, 107.750, 107.500
  • Resistance levels: 108.500, 108.700, 109.000

If the price consolidates above the mark of 108.500, further growth of the USD / JPY quotes is expected. The potential movement to 108.700-109.000.

Alternatively the quotes can decrease towards 107.750-107.500.

by JustForex, 2019.07.01

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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