The Analytical Overview of the Main Currency Pairs on 2020.06.10

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12949
  • Open: 1.13387
  • % chg. over the last day: +0.43
  • Day's range: 1.13316 – 1.13697
  • 52 wk range: 1.0777 – 1.1494

The EUR/USD currency pair continues to be traded in a flat. There is no defined trend. Financial market participants have taken a wait-and-see attitude before the announcement of the results of the two-day Fed meeting. It is expected that the regulator will keep the key marks of monetary policy at the same level. We recommend paying attention to the comments by the Central Bank representatives. Currently, EUR/USD quotes are consolidating in the range of 1.1320-1.1380. Positions should be opened from these marks.

The Economic News Feed for 2020.06.10:
  • - Inflation report in the US at 15:30 (GMT+3:00);
  • - Fed interest rate decision at 21:00 (GMT+3:00).
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 the bullish sentiment.

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

Trading recommendations
  • Support levels: 1.1320, 1.1250, 1.1195
  • Resistance levels: 1.1380, 1.1450, 1.1500

If the price fixes above 1.1380, further growth of EUR/USD quotes is expected. The movement is tending to 1.1420-1.1450.

An alternative could be a decrease in the EUR/USD currency pair to 1.1260-1.1220.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27232
  • Open: 1.27259
  • % chg. over the last day: +0.06
  • Day's range: 1.27062 – 1.27863
  • 52 wk range: 1.1466 – 1.3516

GBP/USD quotes continue to show a steady uptrend. The British pound has overcome and fixed above key extremes. At the moment, the trading instrument is consolidating near 1.2785. The 1.2725 mark is already a "mirror" support. Today, investors will be focused on the Fed meeting. We recommend opening positions from key levels.

The news feed on the UK economy 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 and above the signal line, which gives a strong signal to buy GBP/USD.

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

Trading recommendations
  • Support levels: 1.2725, 1.2635, 1.2585
  • Resistance levels: 1.2785, 1.2850

If the price fixes above 1.2785, further growth of GBP/USD quotes is expected. The movement is tending to 1.2840-1.2860.

An alternative could be a decrease in the GBP/USD currency pair to 1.2660-1.2630.

Open Account

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33753
  • Open: 1.34166
  • % chg. over the last day: +0.23
  • Day's range: 1.33703 – 1.34280
  • 52 wk range: 1.2949 – 1.4668

The USD/CAD currency pair has become stable. The loonie is currently consolidating. The local support and resistance levels are 1.3360 and 1.3425, respectively. Financial market participants expect additional drivers. Today we recommend paying attention to the news feed on the US economy, as well as the dynamics of oil prices. Positions should be opened from key levels.

Today, the publication of important economic releases from Canada is not expected.

USD/CAD

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

The MACD histogram has started declining, which indicates the development of bearish sentiment.

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: 1.3360, 1.3300
  • Resistance levels: 1.3425, 1.3480, 1.3530

If the price fixes below 1.3360, a further drop in USD/CAD quotes is expected. The movement is tending to the round level of 1.3300.

An alternative could be the growth of the USD/CAD currency pair to 1.3480-1.3520.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.434
  • Open: 107.727
  • % chg. over the last day: -0.64
  • Day's range: 107.287 – 107.874
  • 52 wk range: 101.19 – 112.41

The USD/JPY currency pair shows a negative trend. Since the beginning of this week, the yen has increased by more than 200 points against the greenback. The trading instrument has set new local lows. At the moment, USD/JPY quotes are consolidating in the range of 107.30-107.65. The USD/JPY currency pair has the potential for further decline. We expect the results of the Fed meeting. Positions should be opened from key levels.

The news feed on Japan's economy is calm.

USD/JPY

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

The MACD histogram is in the negative zone and continues to decline, which indicates the bearish sentiment.

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

Trading recommendations
  • Support levels: 107.30, 107.10, 106.70
  • Resistance levels: 107.65, 107.90, 108.25

If the price fixes below 107.30, a further drop in USD/JPY quotes is expected. The movement is tending to 107.00-106.70.

An alternative could be the growth of the USD/JPY currency pair to 108.00-108.25.

by JustForex, 2020.06.10

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.

Open Account

Get Free Analytics

* required fields