The Analytical Overview of the Main Currency Pairs on 2020.03.30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10279
  • Open: 1.11161
  • % chg. over the last day: +1.02
  • Day's range: 1.10608 – 1.11441
  • 52 wk range: 1.0777 – 1.1494

The coronavirus pandemic continues to negatively impact the global economy. The U.S. president on Sunday extended the recommendation for self-isolation until the end of April. Earlier, Donald Trump signed a bill, granting financial support to the US economy in the amount of $2 trillion. Currently, the EUR/USD currency pair is consolidating in the range of 1.10400-1.11450. The trading instrument has the potential for further growth. We recommend opening positions from key levels.

At 17:00 (GMT+3:00) the US will publish an index of unfinished sales in the real estate market.

EUR/USD

Indicators signal the power of buyers: the price has fixed above 50 MA and 100 MA.

The MACD histogram is in the positive zone, indicating bullish sentiment.

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: 1.10400, 1.09600, 1.08850
  • Resistance levels: 1.11450, 1.12000

If the price consolidates above 1.11450, expect further growth to 1.12000.

Alternatively, the quotes could reduce toward 1.09700-1.09400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.21546
  • Open: 1.24262
  • % chg. over the last day: +2.09
  • Day's range: 1.23176 – 1.24666
  • 52 wk range: 1.1466 – 1.3516

On the GBP/USD currency pair, bullish sentiment still prevails. The pound reached key extremes. At the moment, GBP/USD quotes are testing the mirror support level of 1.23000. 1.24800 is the nearest resistance. Demand for USD remains at a fairly low level. We do not exclude further growth of the GBP/USD currency pair. Open positions from key levels.

The Economic News Feed for 30.03.2020 is calm.

GBP/USD

Indicators signal the power of buyers: the price has fixed above 50 MA and 100 MA.

The MACD histogram is in the positive zone, indicating a bullish sentiment.

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: 1.23000, 1.21450, 1.20150
  • Resistance levels: 1.24800, 1.25500

If the price consolidates above 1.24800, expect further growth toward 1.25500-1.26000.

Alternatively, the quotes could descend toward 1.22000-1.21000.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.40446
  • Open: 1.40170
  • % chg. over the last day: +0.50
  • Day's range: 1.40076 – 1.40973
  • 52 wk range: 1.2949 – 1.4668

The USD / CAD currency pair has stabilized. Looney is currently trading in a flat without a defined trend. The key support and resistance levels are: 1.39900 and 1.41450, respectively. Participants in financial markets expect additional drivers. We recommend you to pay attention to the dynamics of oil prices and open positions from key levels.

The Economic News Feed for 30.03.2020 is calm.

USD/CAD

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

The MACD histogram is near the 0 mark.

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

Trading recommendations
  • Support levels: 1.39900, 1.39250, 1.38700
  • Resistance levels: 1.41450, 1.42750, 1.43750

If the price consolidates below 1.39900, expect further descend toward 1.39000-1.38000.

Alternatively, the quotes could grow toward 1.42400-1.43000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.458
  • Open: 107.644
  • % chg. over the last day: -1.54
  • Day's range: 107.191 – 108.244
  • 52 wk range: 101.19 – 112.41

USD/JPY quotes show a steady downtrend. The trading instrument has again set new local lows. At the moment, the USD/JPY currency pair is consolidating in the range 107.200-108.250. Demand for safe haven currencies has grown significantly. The yen can grow further against the greenback. We recommend you to pay attention to the dynamics of yield on US government bonds. Open positions from key levels.

The Economic News Feed for 30.03.2020 is calm.

USD/JPY

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

MACD is in the negative zone, indicating a bearish sentiment.

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

Trading recommendations
  • Support levels: 107.200, 106.000.
  • Resistance levels: 108.250, 109.000, 110.000

If the price consolidates below 107.200, expect a drop toward 106.500-106.000.

Alternative ly, the quotes could grow toward 109.000-109.500.

by JustForex, 2020.03.30

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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