The Analytical Overview of the Main Currency Pairs on 2020.04.28

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.08216
  • Open: 1.08277
  • % chg. over the last day: +0.08
  • Day's range: 1.08101 – 1.08361
  • 52 wk range: 1.0777 – 1.1494

There is an ambiguous technical pattern on the EUR/USD currency pair. Quotes are currently consolidating. The local support and resistance levels are 1.0810-1.0835. Demand for risky assets has started resuming amid reduced restrictions in most countries of the world. Investors expect the Fed and the ECB meetings which will be held this week. The single currency is tending to grow. We recommend opening positions from key levels.

At 17:00 (GMT+3:00), CB consumer confidence index will be published.

EUR/USD

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

The MACD histogram is near the 0 mark.

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

Trading recommendations
  • Support levels: 1.0810, 1.0785, 1.0755
  • Resistance levels: 1.0835, 1.0860, 1.0890

If the price fixes above 1.0835, the EUR/USD currency pair is expected to grow. The movement is tending to 1.0870-1.0900.

An alternative could be a decrease in the EUR/USD quotes to 1.0780-1.0750.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23626
  • Open: 1.24281
  • % chg. over the last day: +0.51
  • Day's range: 1.24041 – 1.24375
  • 52 wk range: 1.1466 – 1.3516

The GBP/USD currency pair is consolidating. There is no defined trend. GBP/USD quotes are testing local support and resistance levels: 1.2400 and 1.2450, respectively. The technical pattern signals a possible growth of the trading instrument. We expect statistics from the US. We recommend opening positions from key support and resistance levels.

The news feed on the UK economy is calm.

GBP/USD

Indicators do not give accurate signals: 50 MA has started crossing 200 MA.

The MACD histogram is rising again, which indicates the growth of the GBP/USD currency pair.

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

Trading recommendations
  • Support levels: 1.2400, 1.2370, 1.2300
  • Resistance levels: 1.2450, 1.2515

If the price fixes above the resistance level of 1.2450, further growth of GBP/USD quotes is expected. The movement is tending to 1.2500-1.2525.

An alternative could be a decrease in the GBP/USD currency pair to 1.2350-1.2330.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.40948
  • Open: 1.40330
  • % chg. over the last day: -0.56
  • Day's range: 1.40138 – 1.40727
  • 52 wk range: 1.2949 – 1.4668

The loonie is still being traded in a flat. There is no defined trend. At the moment, the local support and resistance levels are 1.4020 and 1.4070, respectively. USD/CAD quotes are tending to decline. Today, investors will assess economic reports from the US. We also recommend paying attention to the dynamics of "black gold" prices. Positions should be opened from key levels.

The news feed on Canada's economy is calm.

USD/CAD

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

The MACD histogram is near the 0 mark.

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

Trading recommendations
  • Support levels: 1.4020, 1.3975, 1.3925
  • Resistance levels: 1.4070, 1.4120, 1.4180

If the price fixes below the support level of 1.4020, USD/CAD quotes are expected to fall. The movement is tending to 1.3980-1.3960.

An alternative could be the growth of the USD/CAD currency pair to 1.4120-1.4150.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.543
  • Open: 107.243
  • % chg. over the last day: -0.26
  • Day's range: 107.043 – 107.338
  • 52 wk range: 101.19 – 112.41

The USD/JPY currency pair is in a sideways trend. There is no defined trend. At the moment, USD/JPY quotes are testing a round level of 107.00. The 107.35 mark is the key resistance. A trading instrument is tending to decline. Today we recommend paying attention to economic reports, as well as to the dynamics of US government bonds yield. Positions should be opened from key levels.

USD/JPY

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

The MACD histogram has started declining again, indicating the bearish sentiment.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which also gives a signal to sell USD/JPY.

Trading recommendations
  • Support levels: 107.00, 106.50
  • Resistance levels: 107.35, 107.60, 107.75

If the price fixes below the support level of 107.00, USD/JPY quotes are expected to fall. The movement is tending to 106.70-106.50.

An alternative could be the growth of the USD/JPY currency pair to 107.50-107.70.

by JustForex, 2020.04.28

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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