Forecast for the EURUSD currency pair
Chg. % for the last day: -0.12
Day range: 1.12092-1.12413
52-week range: 1.0538-1.1616
The last few trading sessions there were no trend movements for the currency pair of EUR/USD. The single currency is being traded in a flat with a range of 50 pips.
The indicators signals are ambiguous. The MACD histogram started to rise and fixed above the signal line, indicating to buy EUR/USD.
The Stochastic Oscillator is near the overbought zone, the % K line is below the %D line, which indicates a possible decline of EUR/USD.
At 12:00 (GMT + 3: 00) the data on the volume of industrial production in the EU will be released, which may contribute to the development of the trend movement for the EUR/USD currency pair.
Support levels: 1.12000, 1.11550
Resistance levels: 1.12650
If the published data is positive, EUR/USD can reach the nearest resistance of 1.12650.
An alternative can be the price reduction to the levels of 1.12000 and 1.11550.
Forecast for the GBPUSD currency pair
Chg. % for the last day: -1.07
Day range: 1.31662-1.31919
52-week range: 1.2796-1.5659
During yesterday’s trading session, the British currency weakened against the US dollar by more than 1% due to the weak data on the consumer price index. The index was 0.6%, compared with market expectations of 0.7%.
The indicators show an ambiguous image. The MACD histogram is in the negative zone, but has fixed above the signal line, thereby gives a signal to buy GBP/USD.
The Stochastic Oscillator has reached overbought zone, the %K line is below the %D line, which indicates the continuation of a downward movement for the currency pair of GBP/USD.
We recommend to pay attention to the news background. Today we expect the publication of important statistics for the UK economy:
– The average wage, taking into account premiums, at 11:30 (GMT + 3:00);
– Changes in the number of applications for unemployment benefits at 11:30 (GMT + 3:00).
Support levels: 1.31350
Resistance levels: 1.32450, 1.33200
If the statistical data on the British economy will be weak, the downward trend for the currency pair of GBP/USD may continue to the level of 1.31350.
An alternative can be the quotations growth to the resistance levels of 1.32450 and 1.33200.
Forecast for the USDCAD currency pair
Chg. % for the last day: +1.05
Day range: 1.31280-1.31747
52-week range: 1.2458-1.4692
Since the middle of last week, the currency pair of USD/CAD has being observed a distinct bullish trend. The Canadian dollar has lost in price more than 300 pips.
The MACD histogram indicates the correctional movement for the currency pair of USD/CAD. The indicator began to decline and is below the signal line.
The Stochastic Oscillator has come out of the oversold zone, the %K line has fixed above the %D line, indicating a continuation of the upward trend for the currency pair of USD/CAD.
Today news background for the currency pair of USD/CAD is quite calm. The publication of important macroeconomic data is not planned.
Support levels: 1.31150, 1.30350
Resistance levels: 1.32250
Yesterday’s forecast was confirmed. We expect the US dollar rally may continue. We recommend to consider USD/CAD purchase by the resistance level of 1.32250.
Forecast for the USDJPY currency pair
Chg. % for the last day: +0.69
Day range: 102.424-103.355
52-week range: 99.08-123.69
Yesterday, the Japanese currency has lost in price more than 80 pips. The yen remained under pressure against the background of the volume fall in industrial production. In August, the index decreased by 0.4%.
The indicators show diverse signals. The MACD histogram is in the positive zone and above its signal line, indicating a continuation of the upward movement of USD/JPY.
The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.
Important news on the currency pair of USD/JPY is not planned.
Support levels: 102.300
Resistance levels: 103.200, 103.950
If the price overcomes and fixes above the resistance level of 103.200, the pair of USD/JPY may reach 103.95.
If the currency pair of USD/JPY is able to keep the level of 103.200, the price may correct to the nearest support of 102.300.