Forecast for the EURUSD currency pair
Chg. % for the last day: +0.30
Day range: 1.11843-1.12400
52-week range: 1.0538-1.1616
Yesterday, the US Federal Reserve System has kept its key interest rate unchanged at the level of 0.25% -0.50%. The regulator has become more focused on the tightening of monetary policy by the end of the year. Nevertheless, the FOMC members have lowered the possible rate hike to one during 2016. The FRS needs additional confirmation of the economy stability. During the Asian session, the single currency demand has increased.
The MACD histogram is in the positive zone and above its signal line, indicating further growth of EUR/USD.
The Stochastic Oscillator is in the overbought zone, the %K line crossed the %D line. There are no signals yet.
We recommend to pay attention to our news feed:
– ECB Monthly Report (11:00 GMT + 3:00);
– the number of initial claims for unemployment benefits in the USA (15:30 GMT + 3:00);
– the ECB President Draghi speech (16:00 GMT + 3:00);
– sales on the secondary housing market in the USA (17:00 GMT + 3:00).
Support levels: 1.11550, 1.12150
Resistance Levels: 1.12700
If the statistical data from the USA are positive, the corrective movement for the EUR/USD currency pair 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 1.12700.
Forecast for the GBPUSD currency pair
Chg. % for the last day: +0.29
Day range: 1.30223-1.30789
52-week range: 1.2796-1.5659
Yesterday there was an increased demand for the British currency against the decision and comments of the US Federal Reserve System. During the Asian trading session, the GBP/USD growth has continued. At the moment, the currency is being traded above the resistance level of 1.30000.
The indicators signals differ. The MACD histogram has fixed in the positive zone and above its signal line, indicating to buy GBP/USD.
The Stochastic Oscillator is near the overbought zone, the %K line is below the %D line, it sends a signal of the GBP/USD reducing.
At 13:00 (GMT + 3:00) industrial orders index of (CBI) UK.
Support levels: 1.30000
Resistance Levels: 1.31350
In case of publication of optimistical data on the housing market in the USA, the selling of the GBP/USD currency pair to the level of 1.29500 is possible.
An alternative would be a continuation of the correction for the GBP/USD currency pair to the resistance level of 1.31150.
Forecast for the USDCAD currency pair
Chg. % for the last day: -0.67
Day range: 1.30297-1.31022
52-week range: 1.2458-1.4692
Yesterday, bearish moods prevailed fro the USD/CAD currency pair. The Canadian dollar strengthened against the US dollar (by more than 80 pips). Today, the Canadian currency rally has continued.
Indicators point to a further strengthening of the Canadian dollar. The MACD histogram is in the negative zone and below the signal line.
The Stochastic Oscillator has fixed in the neutral zone, the %K line is below the %D line, indicating the selling of the USD/CAD currency pair.
Important statistics on Canada’s economy is not planned today.
Support levels: 1.29650, 1.30350
Resistance Levels: 1.31400
We believe that the downward trend of the USD/CAD currency pair may continue. The price may reach the nearest support at the level of 1.29650.
Forecast for the USDJPY currency pair
Chg. % for the last day: -1.38
Day range: 100.095-100.717
52-week range: 99.08-123.69
The yen remains under pressure after the US Federal Reserve System and the Bank of Japan’s decision. During yesterday’s trading session the USD/JPY currency pair fell by more than 1.3%.
The indicators signals are ambiguous. The MACD histogram has started to rise, and is above its signal line, indicating a possible correction for the USD/JPY.
The Stochastic Oscillator is near the overbought zone, the %K line has begun to cross the %D line. Currently, there are no signals.
The publication of important statistics on Japan’s economy is not planned.
Support levels: 100.250
Resistance Levels: 101.500
We believe that the USD/JPY currency pair may correct to the local resistance level of 101.200.