The Analytical Overview of the Main Currency Pairs on 2019.07.03

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12849
  • Open: 1.12841
  • % chg. over the last day: -0.02
  • Day's range: 1.12841 - 1.12952
  • 52 wk range: 1.1111 - 1.2009

The EUR/USD has stabilized. Trading instrument is in a lateral movement. EUR/USD quotes test key support and resistance levels at 1.12750 and 1.13150. The financial market participants took a wait-and-see attitude until important economic releases. We recommend tracking up-to-date information regarding trade negotiations between Washington and Beijing. Positions must be opened from key levels.

The Economic News Feed for 03.07.2019:

  • - a number of indicators on business activity in Germany and the Eurozone - 10:55 (GMT+3:00) and 11:00 (GMT+3:00), respectively;
  • - ADP Nonfarm Employment Change (Jun)- 15:15 (GMT+3:00);
  • - Continuing Jobless Claims - 15:30 (GMT+3:00);
  • - ISM Non-Manufacturing Business Activity (Jun) - 17:00 (GMT+3:00).
EUR/USD

The price has fixed below 50 MA and 100 MA, which indicates the strength of the sellers.

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 is below the %D line, which also indicates bearish moods.

Trading recommendations
  • Support levels: 1.12750, 1.12400
  • Resistance levels: 1.13150, 1.13550, 1.13900

If the price consolidates below the local support of 1.12750, it will soon fall toward 1.12400-1.12200.

Alternatively, the quotes can recover toward 1.13400-1.13600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26374
  • Open: 1.25907
  • % chg. over the last day: -0.34
  • Day's range:
  • 52 wk range: 1.25721 - 1.25999

GBP/USD continues to show a negative trend. The trading instrument again updated local minimums. GBP remains under pressure amid weak economic reports from the UK. In June, the index of business activity in the construction sector of the country slowed to 43.1 compared with the forecast value of 49.3. At the moment, GBP / USD quotes are testing the support level of 1.25700. Round level 1.26000 is the nearest resistance. The pound has the potential to further decline. Positions must be opened from key levels.

At 11:30 (GMT+3:00) the UK will publish an index of business activity.

GBP/USD

he price has fixed below 50 MA and 100 MA, which indicates the power of the sellers.

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

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

Trading recommendations
  • Support levels: 1.25700, 1.25300, 1.25000
  • Resistance levels: 1.26000, 1.26350, 1.26650

If the price consolidates below 1.25700, a further drop in GBP/USD quotes is expected, towards 1.25400-1.25200.

Alternatively, the quotes could grow towards 1.26300-1.26500.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31331
  • Open: 1.31055
  • % chg. over the last day: -0.29
  • Day's range: 1.30956 - 1.31136
  • 52 wk range: 1.2727 - 1.3664

An ambiguous technical picture emerged on the USD/CAD. At the moment, Looney is consolidating in a fairly narrow range. Local levels of support and resistance are: 1.30950 and 1.31200, respectively. In the near future, correction of the USD/CAD quotes after a prolonged fall is not excluded. Additional pressure on the Canadian dollar is exerted by aggressive sales in the oil market. Today, the investors will evaluate important economic releases from the United States. Positions must be opened from key levels.

The Economic News Feed for 03.07.2019 is calm.

USD/CAD

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

The MACD histogram is close to the 0 mark.

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

Trading recommendations
  • Support levels: 1.30950, 1.30600
  • Resistance levels: 1.31200, 1.31500, 1.32000

If the price consolidates above the level of 1.31200, the quotes can correct toward 1.31500-1.31800.

Alternatively, the quotes can fall toward 1.30700-1.30500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.427
  • Open: 107.878
  • % chg. over the last day: -0.56
  • Day's range: 107.533 - 107.913
  • 52 wk range: 104.97 - 114.56

The USD/JPY currency pair has gone down. During yesterday's and today's trading, the drop in quotes exceeded 80 pips. The trading instrument has established new local minima. At the moment, the safe harbor currency is consolidating. The key support and resistance levels are 107.500 and 107.850, respectively. The focus of economic reports from the United States. The technical picture signals a further drop in the USD / JPY quotes. We recommend to open positions from key levels.

The Economic News Feed for 03.07.2019 is calm.

USD/JPY

The price has fixed below 100 MA, which indicates the power of the sellers.

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

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

Trading recommendations
  • Support levels: 107.500, 107.100, 106.800
  • Resistance levels: 107.850, 108.100, 108.500

If the price consolidates below 107.500, the quotes can fall towards 107.200-107.000.

Alternatively the quotes can grow toward 108.100-108.300.

by JustForex, 2019.07.03

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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