Forecast for the EURUSD currency pair
Chg. % for the last day: -0.05
Day range: 1.12339-1.12499
52-week range: 1.0538-1.1616
The single currency is still being traded in the range of 1.12150-1.12650. The currency pair requires new drivers to exit the flat. Today’s inflation data in the US could serve as the formation of a new trend for EUR/USD.
Indicators do not send strong signals. The MACD histogram started to decrease and fall below the signal line, indicating to sell EUR/USD.
The Stochastic Oscillator is located in the neutral zone, the %K line crossed the %D line. There are no signals yet.
We recommend to pay attention to the news background:
– At 12:00 (GMT + 3:00), the data on the wages level in the EU will be released;
– At 15:30 (GMT + 3:00) the data on basic consumer price index in the United States will be released.
Support levels: 1.12150, 1.11550
Resistance levels: 1.12650
We recommend to wait for the release of statistics from the USA. In the case of positive data on inflation, the bearish moods up to the level of 1.11550 may develop.
An alternative would be an increase of EUR/USD quotes up to the resistance level of 1.13000.
Forecast for the GBPUSD currency pair
Chg. % for the last day: +0.30
Day range: 1.32007-1.32466
52-week range: 1.2796-1.5659
The GBP/USD currency pair showed diversified dynamics yesterday. At the beginning of the European session, the pound shrank by more than 60 pips against the background of weak UK data on retail sales. During the US trading session, the British currency played regained the losses.
Despite yesterday’s controversial statistical data from the US, the indicators send signals to sell GBP/USD. The MACD histogram started to decline and is below the signal line, indicating to sell GBP/USD.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, indicating the decrease of GBP/USD quotations.
Despite the publication of inflation data in the USA (15:30 GMT + 3:00), there is no important news on GBP/USD today.
Support levels: 1.31350
Resistance levels: 1.32450, 1.33200
We believe that the downward trend of the GBP/USD currency pair may continue. The price may reach the level of 1.31350.
Forecast for the USDCAD currency pair
Chg. % for the last day: -0.26
Day range: 1.31417-1.31764
52-week range: 1.2458-1.4692
Yesterday the currency pair of USD/CAD managed to keep the resistance level of 1.32250 because of the weakness of the US statistics. The Canadian Dollar corrected slightly against the US dollar, after falling significantly in the past two weeks (by over 350 pips).
The indicators show an ambiguous image. The MACD histogram is in the negative zone, but began to rise, indicating a weak signal to buy USD/CAD.
The Stochastic Oscillator fixed near the overbought zone, the %K line crossed the %D line. Currently, there are no signals.
At 15:30 (GMT + 3:00) the data on sales in the manufacturing sector of Canada will be released.
Support levels: 1.31150, 1.30350
Resistance levels: 1.32250
If US economic indicators will be pessimistic, the correction of USD/CAD may continue to the support level of 1.30350.
An alternative would be the break through the resistance level of 1.32250 and growth of USD/CAD up to 1.32500.
Forecast for the USDJPY currency pair
Chg. % for the last day: -0.32
Day range: 101.738-102.129
52-week range: 99.08-123.69
Over the past few trading sessions, there is an increased demand for safe yen amid uncertainty about the future monetary policy of the US Federal Reserve System, the meeting of which will be held next week.
Indicators signals differ a lot. The MACD histogram is in the negative zone, but above the signal line, which sends a weak signal to buy USD/JPY.
The Stochastic Oscillator fixed in the neutral zone, the %K line is below the %D line, indicating to sell USD/JPY.
The important statistical data release for the Japanese economy is not planned today.
Support levels: 101.500
Resistance levels: 102.300, 103.000
In case of optimistic US economic data release, we expect that the price can reach the level of 103.000.
An alternative could be selling of USD/JPY by the support level of 101.500.