The Analytical Overview of the Main Currency Pairs on 2020.06.26

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12515
  • Open: 1.12183
  • % chg. over the last day: -0.30
  • Day's range: 1.12051 – 1.12307
  • 52 wk range: 1.0777 – 1.1494

The bearish sentiment prevails on the EUR/USD currency pair. Quotes have updated local lows. The demand for risky assets has weakened again. Investors are worried about the rapid increase in the number of infected with COVID-19, which may cause even greater damage to the global economy. At the moment, the single currency is consolidating in the range of 1.1195-1.1230. We do not exclude a further decline in the trading instrument. Positions should be opened from key levels.

The Economic News Feed for 2020.06.26:
  • At 15:30 (GMT+3:00), data on personal spending will be published in the United States.

We also recommend paying attention to the speech by the head of the ECB.

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: 1.1195, 1.1170, 1.1140
  • Resistance levels: 1.1230, 1.1260, 1.1285

If the price fixes below 1.1195, a further drop in EUR/USD quotes is expected. The movement is tending to 1.1170-1.1140.

An alternative could be the growth of the EUR/USD currency pair to 1.1260-1.1280.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.24142
  • Open: 1.24168
  • % chg. over the last day: +0.01
  • Day's range: 1.23983 – 1.24368
  • 52 wk range: 1.1466 – 1.3516

The GBP/USD currency pair is being traded in a flat. There is no defined trend. The key support and resistance levels are 1.2380 and 1.2450, respectively. Investors expect additional drivers. The demand for risky assets has weakened. The British pound is tending to decline against the greenback. Positions should be opened from key levels.

Today, the news feed on the UK economy is calm.

GBP/USD

Indicators do not give accurate signals: the price is consolidating near 50 MA.

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

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

Trading recommendations
  • Support levels: 1.2380, 1.2335, 1.2300
  • Resistance levels: 1.2450, 1.2500, 1.2540

If the price fixes below 1.2380, GBP/USD quotes are expected to fall. The movement is tending to the round level of 1.2300.

An alternative could be the growth of the GBP/USD currency pair to 1.2500-1.2530.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.36373
  • Open: 1.36394
  • % chg. over the last day: +0.02
  • Day's range: 1.36278 – 1.36625
  • 52 wk range: 1.2949 – 1.4668

USD/CAD quotes are consolidating. The technical pattern is ambiguous. The loonie is testing the following local support and resistance levels: 1.3620 and 1.3660, respectively. Financial market participants expect additional drivers. The demand for risky assets is still low. We 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 point to the power of buyers: the price has fixed above 50 MA and 100 MA.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.

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: 1.3620, 1.3585, 1.3555
  • Resistance levels: 1.3660, 1.3685

If the price fixes above 1.3660, USD/CAD quotes are expected to grow. The movement is tending to 1.3700-1.3720.

An alternative could be a decrease in the USD/CAD currency pair to 1.3590-1.3570.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.044
  • Open: 107.176
  • % chg. over the last day: +0.15
  • Day's range: 106.863 – 107.235
  • 52 wk range: 101.19 – 112.41

There is an ambiguous technical pattern on the USD/JPY currency pair. The trading instrument has become stable. At the moment, the key support and resistance levels are 106.80 and 107.15, respectively. The demand for “safe haven” currencies is still high. 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 quite calm.

USD/JPY

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

The MACD histogram has started declining, which indicates the development of 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: 106.80, 106.65, 106.40
  • Resistance levels: 107.15, 107.45

If the price fixes below 106.80, USD/JPY quotes are expected to fall. The movement is tending to 106.50-106.30.

An alternative could be the growth of the USD/JPY currency pair to 107.40-107.60.

by JustForex, 2020.06.26

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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