The Analytical Overview of the Main Currency Pairs on 2019.10.04

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.09602
  • Open: 1.09638
  • % chg. over the last day: +0.14
  • Day's range: 1.09636 - 1.09838
  • 52 wk range: 1.0884 - 1.1623

EUR/USD currency pair continues to show a positive trend. The trading tool again updated local highs. Greenback remains under pressure amid weak economic releases. In September, the ISM business activity index from the US non-manufacturing sector dropped to 52.6. Market expectations were at 55.0. At the moment, EUR/USD quotes are consolidating in the range 1.09650-1.09900. Financial market participants took a wait-and-see attitude before the publication of the US labor market report. We recommend that you pay attention to the difference between the actual and forecast values of the indicators. Positions must be opened from key levels.

At 15:30 (GMT+3:00), US will publish a labor statistics report for September.

EUR/USD

Indicators signal the strength 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 EUR/USD.

The Stochastic Oscillator is near the oversold zone, the %K line is below the %D line, which gives a weak signal to sell EUR/USD.

Trading recommendations
  • Support levels: 1.09650, 1.09400, 1.09050
  • Resistance levels: 1.09900, 1.10250

If the price consolidates above 1.09900, expect further growth toward 1.10250-1.10500.

Alternatively, the quotes could drop toward 1.09400-1.09200.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22988
  • Open: 1.23288
  • % chg. over the last day: +0.33
  • Day's range: 1.23288 - 1.23568
  • 52 wk range: 1.1995 - 1.3385

Yesterday, purchases prevailed on the GBP/USD currency pair. Sterling set new local highs. Pressure on the USD continues to exert weak economic releases. Currently, GBP/USD quotes are consolidating in the range of 1.23200-1.23650. Today, investors will evaluate the report on the US labor market in September. We also recommend keeping track of up-to-date information regarding the Brexit process. Positions must be opened from key levels.

The Economic News Feed for 04.10.2019 is calm.

GBP/USD

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

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

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: 1.23200, 1.22600, 1.22100
  • Resistance levels: 1.23650, 1.24150, 1.24500

If the price consolidates above 1.23650, expect further recovery toward 1.24100-1.24400.

Alternatively, the quotes could retreat toward 1.22700-1.22500.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33252
  • Open: 1.33330
  • % chg. over the last day: +0.11
  • Day's range: 1.33243 - 1.33383
  • 52 wk range: 1.2727 - 1.3664

The USD/CAD currency pair stabilized after a sharp rally the day before. Looney is currently consolidating. Unidirectional trends are not observed. The trading instrument formed the following local support and resistance levels: 1.33150 and 1.33450, respectively. Participants in financial markets expect the release of important statistics on the US and Canada economies. We recommend that you pay attention to the dynamics of prices of "black gold". Positions must be opened from key levels.

The Economic News Feed for 04.10.2019:

  • - Ivey Canada Business Activity Index (CAD) – 17:00 (GMT+3:00);
USD/CAD

Indicators signal the strength 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/CAD.

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: 1.33150, 1.33000, 1.32800
  • Resistance levels: 1.33450, 1.33700, 1.34000

If the price consolidates above 1.33450, expect further growth toward 1.33700-1.34000.

Alternatively, the quotes could decrease toward 1.32800-1.32600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.178
  • Open: 106.913
  • % chg. over the last day: -0.33
  • Day's range: 106.744 - 106.924
  • 52 wk range: 104.97 - 114.56

The USD/JPY currency pair is still dominated by bearish sentiment. The trading tool again updated local lows. At the moment, USD/JPY quotes are consolidating in the range of 106.700 and 107.000, respectively. The focus is on the US labor market report. We recommend that you keep track of up-to-date information regarding trade negotiations between Washington and Beijing. Positions must be opened from key levels.

The Economic News Feed for 04.10.2019 is calm.

USD/JPY

Indicators signal the strength of sellers: the price has fixed below 50 MA and 100 MA.

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

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

Trading recommendations
  • Support levels: 106.700, 106.500
  • Resistance levels: 107.000, 107.350, 107.650

If the price consolidates below 106.700, expect a drop toward 106.400-106.200.

Alternatively, the quotes could grow toward 107.300-107.000.

by JustForex, 2019.10.04

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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