The forecast for the EUR/USD currency pair
Prev Opening: 1.09160
Chg. % of the last day: -0.05
Daily range: 1.08502 – 1.08840
52-week range: 1.0366 – 1.1616
In the first round of the presidential elections in France, Emmanuel Macron won, what strengthened investors’ confidence. In the Asian trading session, the EUR/USD currency pair retained the local demand zone 1.08350-1.08600. The bullish sentiment prevails on the market. We are waiting for statistics from the USA.
The MACD histogram is in the positive zone and continues to rise, indicating further EUR/USD growth.
Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which also signals the purchase of EUR/USD.
There are no important economic reports from the EU today. We recommend you to pay attention to the reports from the USA:
– consumer confidence index of CB (17:00 GMT+3:00);
– new home sales (17:00 GMT+3:00).
Support levels: 1.08350, 1.07700
Resistance levels: 1.09150
We still expect EUR/USD to grow. We recommend considering purchases to around 1.09250-1.09500. When tracking a position, it is better to use a trailing stop.
Forecast for the GBP/USD currency pair
Prev Opening: 1.28361
Chg. % of the last day: -0.23
Daily range: 1.27748 – 1.28188
52-week range: 1.1986 – 1.5020
Yesterday, the pound continued to test key support and resistance levels: 1.27700 and 1.28500, respectively. At the moment, the technical pattern on the GBP/USD is mixed. The market is waiting for additional drivers.
Stochastic Oscillator has reached the overbought zone, the %K line has crossed the %D line. There are no signals at the moment.
There is no important news from the UK today.
Support levels: 1.27700, 1.27000
Resistance levels: 1.28500, 1.29000
If the statistics from the US is positive, a correction to the mark of 1.27500 may develop on GBP/USD.
An alternative may be the growth of GBP/USD. The immediate goal for profit-taking is a round level of 1.29000.
Forecast for USD/CAD
Prev Opening: 1.34599
Amend. For the last day: +0.12
Daily range: 1.34914 – 1.35695
52-week range: 1.2458 – 1.4692
At the moment, the Canadian dollar is under pressure. In the course of the Asian trading session, the growth of the USD/CAD quotations exceeded 0.5%. The US intends to introduce an additional duty on the import of sawn timber from Canada. The nearest resistance is 1.35750.
The MACD histogram is in the positive area and above the signal line, which indicates a bullish sentiment on USD/CAD.
Stochastic Oscillator is located in the neutral zone, the %K line crossed the %D line. There are no signals currently.
The news background on Canada’s economy is calm today.
Support levels: 1.35200, 1.34600
Resistance levels: 1.35750
The previous forecast turned out to be quite accurate. At the moment, we expect the growth of the USD/CAD currency pair. If the price consolidates above the 1.35750 mark, we recommend you to look for entry points to the market to open long positions. The movement is tending potentially to 1.36250.
Forecast for the USD/JPY currency pair
Prev Opening: 110.517
Chg. % of the last day: -0.24
The daily range: 109.592 – 110.357
52-week range: 99.08 – 123.69
Currently, the bullish sentiment prevails on USD/JPY. During Asian trading, the yen weakened against the US currency by more than 60 points. The key trading range is 109.850-110.500. We expect economic reports from the United States.
The MACD histogram has fixed in the positive zone and continues to rise, which indicates the growth of USD/JPY.
Stochastic Oscillator is in the overbought zone, the %K line is above the %D line, which gives a weak signal to buy USD/JPY.
It is necessary to pay attention to the news line from the USA.
Support levels: 109.850, 109.400
Levels of resistance: 110.500
If the statistics from the US turns out to be weak, the bearish sentiment may dominate on the USD/JPY currency pair. The movement is tending potentially to 109.850-109.500.
An alternative may be an upward trend on USD/JPY to the level of 110.750.