Forecast for the EURUSD currency pair
Chg. % for the last day: +0.42
Day range: 1.05721 – 1.06276
52-week range: 1.0366 – 1.1616
Over the last week, the euro strengthened against the US dollar by more than 150 points. At the moment the EUR/USD currency pair has found resistance at 1.06100.
Indicators signals are ambiguous. The MACD histogram is in the positive zone and continues to rise, which means purchases of EUR/USD.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the development of the downward trend on the EUR/USD currency pair.
The news background is calm now. At 17:00 (GMT + 2: 00), the data on the number of vacancies on the JOLTS labor market in the US will be released.
Support levels: 1.05750, 1.05150
Resistance levels: 1.06100
We believe that the increase of the EUR/USD currency pair may continue. One should consider buying to around 1.06500.
Forecast for the GBPUSD currency pair
Chg. % for the last day: -0.78
Day range: 1.2157 – 1.21804
52-week range: 1.2016 – 1.5513
The pound is under pressure due to concerns about Brexit. Over the past few trading sessions, a drop of the GBP/USD quotes has exceeded 250 points. The local support is the level of 1.21250.
The MACD histogram is in the negative zone and has continued to decline, indicating sales of GBP/USD.
Stochastic Oscillator is near the oversold zone, the %K line is beginning to cross the %D line. There are no signals yet.
The news feed on the UK economy is calm today.
Support levels: 1.21250
Resistance levels: 1.21750, 1.22300
Yesterday’s forecast was confirmed. We believe that GBP/USD may continue to fall to the level of 1.20800.
Forecast for the USDCAD currency pair
Chg. % for the last day: -0.19
Day range: 1.31968 – 1.32358
52-week range: 1.2458 – 1.4692
The USD/CAD currency pair is still being traded in a flat. Yesterday’s trading session ended with a slight increase of the Canadian dollar. At the moment, the following key levels can be identified: support – 1.32000; resistance – 1.32750.
The indicators signals are ambiguous. The MACD histogram is in the negative zone, indicating sales of USD/CAD.
Stochastic Oscillator has fixed in the neutral zone, the %K line is above the %D line, indicating the growth of the USD/CAD currency pair.
Today, we are waiting for statistics on the real estate market in Canada:
– the volume of new construction (15:15 GMT + 2: 00);
– building permits (15:30 GMT + 2: 00).
Support levels: 1.32000
Resistance levels: 1.32750
We expect the development of the “bearish” moods on the USD/CAD currency pair to the level of 1.31800.
Forecast for the USDJPY currency pair
Chg. % for the last day: -0.96
Day range: 115.189 – 116.201
52-week range: 99.08 – 123.69
Yesterday, there was aggressive selling on the USD/JPY currency pair. The yen rose in price by more than 100 points. Today, the Japanese currency rally has continued. Currently, USD/JPY is being traded near the offer zone of 115.900-116.200.
The MACD histogram is in the negative zone and continued to decline, indicating the sellers’ power on USD/JPY.
Stochastic Oscillator has consolidated in the neutral zone, the %K line is above the %D line, which indicates an increase of USD/JPY.
Important news from Japan is not expected today.
Support levels: 115.250
Resistance levels: 116.200
Our forecast was confirmed yesterday. One should consider selling USD/JPY to the local support of 115.250.