The Analytical Overview of the Main Currency Pairs on 2020.06.15

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12912
  • Open: 1.12342
  • % chg. over the last day: -0.38
  • Day's range: 1.12263 – 1.12684
  • 52 wk range: 1.0777 – 1.1494

Sales prevail on the EUR/USD currency pair. The trading instrument has updated local lows. Demand for risky assets continues to weaken. Financial market participants are concerned about the second outbreak of coronavirus. Investors expect a speech by the Fed Chairman, which will be held tomorrow. Jerome Powell should report for the half year on the monetary policy of the Central Bank and announce economic forecasts. Currently, EUR/USD quotes are consolidating in the range of 1.1220-1.1275. The single currency has a potential for further decline. Positions should be opened from key levels.

The Economic News Feed for 2020.06.15:
  • - Eurozone trade balance at 12:00 (GMT+3:00).

We also recommend paying attention to the speeches of FOMC representatives.

EUR/USD

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

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

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: 1.1220, 1.1190, 1.1115
  • Resistance levels: 1.1275, 1.1325, 1.1380

If the price fixes below the level of 1.1220, a further fall in EUR/USD quotes is expected. The movement is tending to 1.1180-1.1150.

An alternative could be the growth of the EUR/USD currency pair to 1.1320-1.1350.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26000
  • Open: 1.25091
  • % chg. over the last day: -0.48
  • Day's range: 1.24541 – 1.25480
  • 52 wk range: 1.1466 – 1.3516

There is the bearish sentiment on the GBP/USD currency pair. The British pound has updated local lows. Currently, GBP/USD quotes are consolidating. The key range is 1.2460-1.2550. The demand for risky assets is still low. The British pound is under pressure due to a weak report on UK GDP. Investors expect a meeting of the Bank of England, which will be held later this week. A further decline in the trading instrument is possible. We recommend opening positions from key levels.

GBP/USD

Indicators signal the power 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 GBP/USD.

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: 1.2460, 1.2400
  • Resistance levels: 1.2550, 1.26150, 1.2650

If the price fixes below 1.2460, a further fall in GBP/USD quotes is expected. The movement is tending to the round level of 1.2400.

An alternative could be the growth of the GBP/USD currency pair to 1.2600-1.2640.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.36242
  • Open: 1.36012
  • % chg. over the last day: -0.30
  • Day's range: 1.35993 – 1.36860
  • 52 wk range: 1.2949 – 1.4668

USD/CAD quotes have become stable after a significant increase at the end of last week. The loonie is currently consolidating. The technical pattern is ambiguous. The key range is 1.3600-1.3680. Financial market participants expect additional drivers. We recommend paying attention to the dynamics of oil quotes. Positions should be opened from key levels.

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

USD/CAD

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

Trading recommendations
  • Support levels: 1.3600, 1.3530, 1.3480
  • Resistance levels: 1.3680, 1.3750

If the price fixes above 1.3680, further growth of USD/CAD quotes is expected. The movement is tending to 1.3740-1.3760.

An alternative could be a decrease in the USD/CAD currency pair to 1.3550-1.3520.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.880
  • Open: 107.316
  • % chg. over the last day: +0.46
  • Day's range: 106.998 – 107.566
  • 52 wk range: 101.19 – 112.41

The USD/JPY currency pair has become stable. The trading instrument is currently consolidating. There is no defined trend. The trading instrument is testing local support and resistance levels: 107.00 and 107.55, respectively. The technical pattern signals a possible correction of USD/JPY quotes. We recommend paying attention to the dynamics of US government bonds yield. Positions should be opened from key levels.

The news feed on Japan's economy is calm.

USD/JPY

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

The MACD histogram is near the 0 mark.

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: 107.00, 106.60
  • Resistance levels: 107.55, 107.90, 108.25

If the price fixes above 107.55, further growth of USD/JPY quotes is expected. The movement is tending to 107.90-108.20.

An alternative could be a decrease in the USD/JPY currency pair to 106.60-106.40.

by JustForex, 2020.06.15

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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