Forecast for the EURUSD currency pair
Chg. % for the last day: +0.14
Day range: 1.11682-1.12133
52-week range: 1.0538-1.1616
Despite the weak statistics from Germany (the price index was -0.1% in August), at the beginning of the European trading session, the EUR/USD currency pair has grown and reached the resistance level of 1.12150.
The MACD histogram sends a signal to buy EUR/USD. The indicator has moved in the positive zone and is above the signal line.
The Stochastic Oscillator is near the overbought zone, the %K line is above the %D line, that delivers a weak signal to buy EUR/USD.
We recommend to pay attention to the publication of statistical data on the US economy:
– The number of issued permits for a building at 15:30 (GMT + 3:00).
Support levels: 1.11550
Resistance levels: 1.12150, 1.12650
In the case of publishing the positive statistics from the USA, the EUR/USD currency pair could rise to the level of 1.12650.
An alternative would be the EUR/USD fall to the support level of 1.11550.
Forecast for the GBPUSD currency pair
Chg. % for the last day: +0.11
Day range: 1.30197-1.30649
52-week range: 1.2796-1.5659
Yesterday, the trading session was quite calm for the GBP/USD currency pair. Trend movements were not observed. By the closing of the US session, the pound strengthened slightly against the US dollar.
Indicators do not send strong signals. The MACD histogram has started to rise, and is above its signal line, indicating a possible increase of GBP/USD.
The Stochastic Oscillator is near the overbought zone, the %K line is above the %D line, indicating a possible correction of the GBP/USD currency pair.
Despite statistical data from the US, important news, which can significantly affect the dynamics of GBP/USD, is not planned today.
Support levels: 1.30000
Resistance levels: 1.31350, 1.32450
If the macroeconomic data from the US will be optimistic, we recommend to consider selling to the level of 1.29500.
An alternative would be a corrective movement to the resistance level of 1.31350.
Forecast for the USDCAD currency pair
Chg. % for the last day: +0.02
Day range: 1.31675-1.32148
52-week range: 1.2458-1.4692
During yesterday’s trading session, the Canadian dollar was almost unchanged against the US dollar. At the moment, the currency is being traded near the resistance level of 1.32250.
Indicators point to the development of the corrective movement for USD/CAD. The MACD histogram has started to decline and is below the signal line.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, indicating to sell USD/CAD.
Today at 19:45 (GMT + 3:00) the speech of the Bank of Canada’s head will be held on.
Support levels: 1.31400, 1.30350
Resistance levels: 1.32250
We continue to expect a correction of the USD/CAD currency pair. Quotes can reach the nearest support levels of 1.31400 and 1.30350.
Forecast for the USDJPY currency pair
Chg. % for the last day: -0.36
Day range: 101.529-102.064
52-week range: 99.08-123.69
Yesterday there was an increased demand for yen. The USD/JPY currency pair fell by 0.36%. During the Asian session, the Japanese currency rally continued.
Indicators signals are ambiguous. The MACD histogram has moved into the negative zone and is below the signal line, indicating to sell USD/JPY. The Stochastic Oscillator has reached oversold zone, the %K line crossed the %D line. There are no active signals yet.
The publication of important statistics on Japan’s economy is not planned today.
Support levels: 101.500
Resistance levels: 102.300, 103.000
In the case of publishing the positive data on the number of issued permits for building in the United States, USD/JPY quotes could rise to the resistance level of 102.300.
An alternative could be the development of a downward movement to the level of 101.000.