The Analytical Overview of the Main Currency Pairs on 2019.10.07

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.09638
  • Open: 1.09789
  • % chg. over the last day: +0.05
  • Day's range: 1.09726 - 1.09899
  • 52 wk range: 1.0884 - 1.1623

The EUR/USD currency pair has stabilized. A trading instrument is consolidating. There is no defined trend. EUR/USD quotes test local support and resistance levels at 1.09650 and 1.09900, respectively. On Friday, the US published a rather weak report on the US labor market in September. Investors continue to monitor the progress of trade negotiations between Washington and Beijing. We do not exclude further growth of the EUR/USD currency pair. Positions must be opened from key levels.

Today, the publication of important economic releases is not planned. We recommend that you pay attention to the speech of the head of the Fed.

EUR/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 EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish sentiment.

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 1.10200-1.10400.

Alternatively, the quotes could drop toward 1.09400-1.09200.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23288
  • Open: 1.23030
  • % chg. over the last day: -0.15
  • Day's range: 1.23030 - 1.23367
  • 52 wk range: 1.1995 - 1.3385

An ambiguous technical picture has developed on the GBP/USD currency pair. Sterling is currently consolidating. The key support and resistance levels are: 1.22850 and 1.23400, respectively. Last week, British Prime Minister Boris Johnson submitted to the European Union the final proposal for the country's withdrawal from the bloc. We recommend that you keep track of current information on this issue. Positions must be opened from key levels.

The Economic News Feed for 07.10.2019 is not planned.

GBP/USD

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

The MACD histogram is near the 0 mark. There are no signals at the moment.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish sentiment.

Trading recommendations
  • Support levels: 1.22850, 1.22450, 1.22100
  • Resistance levels: 1.23400, 1.23800, 1.24150

If the price consolidates above 1.23400, expect further growth toward 1.23800-1.24100.

Alternatively, the quotes could decrease toward 1.22500-1.22200.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33330
  • Open: 1.33224
  • % chg. over the last day: -0.16
  • Day's range: 1.33043 - 1.33272
  • 52 wk range: 1.2727 - 1.3664

The USD/CAD currency pair continues to trade in a flat. The technical picture is ambiguous. At the moment, the support and resistance levels can be distinguished at 1.33000 and 1.33400. Participants in financial markets expect additional drivers. A trading instrument has the potential for further growth. 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 07.10.2019 is calm.

USD/CAD

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

The MACD histogram is near the 0 mark.

The Stochastic Oscillator is near the overbought zone, the %K line is above the %D line, which gives a weak signal to buy USD/CAD.

Trading recommendations
  • Support levels: 1.33000, 1.32800, 1.32550
  • Resistance levels: 1.33400, 1.33700

If the price consolidates above 1.33400, expect further growth toward 1.33700-1.33900.

Alternatively, the quotes could decrease toward 1.32800-1.32600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.913
  • Open: 106.637
  • % chg. over the last day: -0.16
  • Day's range: 106.652 - 106.905
  • 52 wk range: 104.97 - 114.56

The USD/JPY currency pair stabilized after a sharp fall last week. At the moment, the trading instrument is in lateral movement. USD/JPY quotes are testing the key support and resistance levels: 106.600 and 107.000, respectively. In the near future, technical correction is not ruled out. We recommend that you pay attention to the dynamics of the yield of US government securities. Positions must be opened from key levels.

The Economic News Feed for 07.10.2019 is calm.

USD/JPY

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

The MACD histogram is near 0. There are no signals at the moment.

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

Trading recommendations
  • Support levels: 106.600, 106.300
  • Resistance levels: 107.000, 107.300, 107.650

If the price consolidates below 106.600, expect quotes to fall toward 106.300-106.000.

Alternatively, the quotes could correct toward 107.300-107.500.

by JustForex, 2019.10.07

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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