The Analytical Overview of the Main Currency Pairs on 2020.07.13

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12834
  • Open: 1.13023
  • % chg. over the last day: +0.15
  • Day's range: 1.13009  – 1.13361
  • 52 wk range: 1.0777  – 1.1494

The EUR/USD currency pair is consolidating. The technical pattern is ambiguous. Sentiment in the financial markets continues to deteriorate amid the second wave of the COVID-19 epidemic. The World Health Organization reported a record 230,370 new cases last Sunday. The number of infected in the world has reached 13 million. At the moment, EUR/USD quotes are testing local support and resistance levels: 1.1300 and 1.1335, respectively. The single currency is tending to decline. Positions should be opened from key support and resistance levels.

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

EUR/USD

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

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

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

Trading recommendations
  • Support levels: 1.1300, 1.1260, 1.1220
  • Resistance levels: 1.1335, 1.1365

If the price fixes below 1.1300, EUR/USD quotes are expected to fall. The movement is tending to 1.1260-1.1240.

An alternative could be the growth of the EUR/USD currency pair to 1.1360-1.1380.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26063
  • Open: 1.26203
  • % chg. over the last day: +0.12
  • Day's range: 1.25917  – 1.26662
  • 52 wk range: 1.1466  – 1.3516

GBP/USD quotes are in a sideways trend. There is no defined trend. Financial market participants expect additional drivers. The British pound is testing the key support and resistance levels: 1.2580 and 1.2665, respectively. The demand for risky assets has weakened. The GBP/USD currency pair is tending to decline. Positions should be opened from key levels.

We recommend paying attention to the speech by the head of the Bank of England.

GBP/USD

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: 1.2580, 1.2520, 1.2470
  • Resistance levels: 1.2665, 1.2700

If the price fixes below 1.2580, GBP/USD quotes are expected to correct. The movement is tending to the round level of 1.2500.

An alternative could be the growth of the GBP/USD currency pair to 1.2700-1.2720.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.35872
  • Open: 1.35851
  • % chg. over the last day: -0.01
  • Day's range: 1.35552  – 1.36024
  • 52 wk range: 1.2949  – 1.4668

There is an ambiguous technical pattern on the USD/CAD currency pair. The loonie is consolidating. Investors expect additional drivers. The local support and resistance levels are 1.3555 and 1.3585, respectively. 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 do not give accurate signals: the price has crossed 50 MA and 100 MA.

The MACD histogram has been declining, which gives a signal to sell USD/CAD.

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

Trading recommendations
  • Support levels: 1.3555, 1.3520, 1.3490
  • Resistance levels: 1.3585, 1.3625

If the price fixes above 1.3585, USD/CAD quotes are expected to rise. The movement is tending to 1.3620-1.3640.

An alternative could be a decrease in the USD/CAD currency pair to 1.3520-1.3500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.149
  • Open: 106.884
  • % chg. over the last day: -0.28
  • Day's range: 106.787  – 107.096
  • 52 wk range: 101.19  – 112.41

USD/JPY quotes have become stable. A trading instrument is consolidating. The local support and resistance levels are 106.80 and 107.10, respectively. The technical pattern signals a possible correction of the USD/JPY currency pair. 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.

The MACD histogram is near the 0 mark.

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: 106.80, 106.65
  • Resistance levels: 107.10, 107.35, 107.60

If the price fixes below 106.80, a further drop in USD/JPY quotes is expected. The movement is tending to 106.50-106.30.

An alternative could be the growth of the USD/JPY currency pair to 107.30-107.50.

by JustForex, 2020.07.13

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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