Forecast for the EURUSD currency pair
Chg. % for the last day: -0.19
Day range: 1.05363 – 1.05665
52-week range: 1.0366 – 1.1616
Yesterday, there was a high trading activity on the EUR/USD currency pair. The euro held the resistance level of 1.06100, prompting aggressive selling. The trading ended with a slight increase of the US dollar. At the moment, financial market participants are waiting for J. Trump’s press conference.
The MACD histogram has started to decline and come into the negative zone, indicating sales of EUR/USD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the development of an upward trend in the EUR/USD currency pair.
– auction of 10-year Treasury bonds in Germany placement (12:35 GMT + 2: 00);
– auction of 10-year Treasury bonds in USA placement (20:00 GMT + 2: 00);
– the US President Trump’s speech (20:00 GMT + 2: 00).
Support levels: 1.05150
Resistance levels: 1.05750, 1.06100
If the price consolidates above the level of 1.05750, an upward trend may develop in the EUR/USD currency pair. The movement potential is to 1.06250.
An alternative might be the EUR/USD quotes falling to around 1.05000.
Forecast for the GBPUSD currency pair
Chg. % for the last day: +0.12
Day range: 1.21484 – 1.21977
52-week range: 1.2016 – 1.5513
There was no a unidirectional movement in the GBP/USD currency pair during yesterday’s trading session. The pound was traded in a range of 1.21250-1.21750. At the moment, the currency is being traded near the local offers area zone of 1.21600-1.21750.
The MACD histogram does not give strong signals. The indicator is located near the 0 mark.
Stochastic Oscillator has come out of the oversold zone, the %K line is above the line %D line, indicating the growth of the GBP/USD currency pair.
Today we expect important statistics from the UK:
– the volume of production in manufacturing industry (11:30 GMT + 2: 00);
– the balance of trade (11:30 GMT + 2: 00);
– assessment of GDP growth from NIESR (17:00 GMT + 2: 00).
Support levels: 1.21250
Resistance levels: 1.21750, 1.22300
If statistics from the UK is positive, the correction in GBP/USD may develop to the local resistance level of 1.22300.
An alternative could be a further drop of the GBP/USD currency pair quotes to the level of 1.20800.
Forecast for the USDCAD currency pair
Chg. % for the last day: +0.12
Day range: 1.32151 – 1.32550
52-week range: 1.2458 – 1.4692
The USD/CAD currency pair continues to be in a sideway trend. The key trading range is 1.32000-1.32750. We expect a press conference of the president of the United States.
The MACD histogram has started to decline and fixed below the signal line, which indicates the development of the “bearish” moods on USD/CAD.
Stochastic Oscillator has reached the oversold zone, the %K line crossed the %D line. There are no signals yet.
The news background on the economy of Canada is calm today.
Support levels: 1.32000
Resistance levels: 1.32750
We continue to expect the development of the downward trend on the USD/CAD currency pair to the level of 1.31800.
Forecast for the USDJPY currency pair
Chg. % for the last day: -0.22
Day range: 115.657 – 116.243
52-week range: 99.08 – 123.69
Yesterday, trading on the USD/JPY currency pair was held in a wide range of more than 90 points. The yen kept the support level of 115.250. During the Asian trading session, a significant change of the USD/JPY rate did not happen.
The MACD histogram has started to rise, pointing to the growth of the USD/JPY quotations.
Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals yet.
We recommend to pay attention to the news feed from the USA.
Support levels: 115.250
Resistance levels: 116.200
Yesterday’s forecast proved to be quite accurate. If the price consolidates below the 115.750 local support, a downward trend may develop. A movements potential is to around 115.250.