Forecast for the EUR/USD currency pair
Prev Opening: 1.06605
Chg. % of the last day: +0.02
Daily range: 1.06517 – 1.06747
52-week range: 1.0366 – 1.1616
Yesterday, the euro did not change significantly. The currency was in a rather narrow trading range. At the moment EUR/USD is testing the support level of 1.06500.
The MACD histogram is in the negative zone and continues to decline, indicating a fall in EUR/USD.
Stochastic Oscillator is located in the neutral zone, %K line crossed %D line. There are no signals at the moment.
News background on 04/04/2017:
– the volume of retail sales in the euro area (12:00 GMT+3:00);
– trade balance in the USA (15:30 GMT+3:00);
– speech by the head of the ECB Draghi (16:30 GMT+3:00);
– The volume of industrial orders in the US (17:00 GMT+3:00).
Support levels: 1.06500
Resistance levels: 1.07000, 1.07600
We expect “bearish” sentiment on the EUR/USD currency pair. We recommend selling if the price consolidates below the support level of 1.06500. The movement is potentially tending to 1.06100-1.06000.
Forecast for the GBP/USD currency pair
Chg. % of the last day: -0.42
Daily range: 1.24201 – 1.24952
52-week range: 1.1986 – 1.5020
During yesterday’s trading session, aggressive sales were observed. The pound weakened against the US dollar by more than 70 points. Today, the currency of Britain continued to lose ground. At the moment, the key trading range is 1.24000-1.24500. We are waiting for statistics from the UK.
Stochastic Oscillator is in the neutral zone, %K line is below %D line, which also gives a signal for GBP/USD.
At 11:30 (GMT+3:00) the data on the index of business activity in the construction sector in Britain will be released.
Support levels: 1.24000
Resistance levels: 1.24500, 1.24950
If economic data from the UK is positive, correction may occur on the GBP/USD currency pair. The movement is potentially tending to 1.24950.
An alternative may be a further decline in GBP/USD to 1.24000-1.23750.
Forecast for USD/CAD
Prev Opening: 1.33059
Chg. % of the last day: +0.40
The daily range: 1.33729 – 1.34337
52-week range: 1.2458 – 1.4692
At the moment USD/CAD is under the bullish sentiment. Since the beginning of this week, the Canadian dollar has weakened against the US currency by more than 120 points. The nearest resistance is 1.34400. The round level os 1.34000 is already a “mirror” support.
The MACD histogram is located in the positive zone and above the signal line, which indicates a further growth of the USD/CAD currency pair.
Stochastic Oscillator is near the overbought zone, %K line is above %D line, which gives a weak signal to buy USD/CAD.
At 15:30 (GMT+3:00), there will be data on Canada’s balance of visible trade.
Support levels: 1.34000, 1.33600
Resistance levels: 1.34400
If the USD/CAD quotes overcome the resistance level of 1.34400, we recommend looking for entry points to the market to open long positions. The target level of movement is 1.35000.
Forecast for the USD/JPY currency pair
Chg. % of the last day: -0.35
Daily range: 110.331 – 110.932
52-week range: 99.08 – 123.69
At the moment, the bearish sentiment prevails on the USD/JPY currency pair. Over the past few trading sessions, the yen added more than 150 points. The key levels of support and resistance are 110.200 and 110.750. We are waiting for statistics from the USA.
Indicators show an ambiguous image. The MACD histogram is in the negative zone and below the signal line, which gives a signal to sell USD/JPY.
Stochastic Oscillator has fixed in the neutral zone, %K line is above %D line, which indicates the USD/JPY purchases.
We recommend you to pay attention to the news background of the United States.
Support levels: 110.200
Resistance levels: 110.750, 111.300
We believe that the downward trend in USD/JPY may continue. The movement is potentially tending to 110.200-110.000.