Forecast for the EURUSD currency pair
Chg. % for the last day: -0.50
Day range: 1.05250 – 1.05694
52-week range: 1.0538 – 1.1616
On Friday, 9 December, the euro continued to decline against the US dollar. The EUR/USD quotes fell by more than 80 pips. At the moment, the currency has found support at 1.05300.
The MACD histogram has fixed is in the negative zone, but above the signal line, which delivers a weak signal to sell EUR/USD.
Stochastic Oscillator is near the overbought zone, the %K line crossed the %D line. There are no signals yet.
At 21:00 (GMT + 2: 00) a report on the US federal budget utilization will be released.
Support levels: 1.05300
Resistance levels: 1.06250, 1.07150
A technical pattern of the EUR/USD currency pair indicates the development of the corrective movement. If the price fixes above the level of 1.05700, be sure to consider buying of EUR/USD to the local resistance of 1.06250.
Forecast for the GBPUSD currency pair
Chg. % for the last day: -0.08
Day range: 1.25714 – 1.26046
52-week range: 1.2016 – 1.5513
During Friday’s trading session a significant change in GBP/USD rate did not happen. Currency kept the support level of 1.25650. At the moment, there is an increase in demand for the British currency.
Indicators point to buyers’ force. The MACD histogram has started to rise and fixed above the signal line.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also indicates an increase of the GBP/USD currency pair.
The news background for the UK economy is calm.
Support levels: 1.25650
Resistance levels: 1.26400, 1.27000
We expect the development of an upward trend in the GBP/USD currency pair. We recommend buying to around 1.26400.
Forecast for the USDCAD currency pair
Chg. % for the last day: -0.10
Day range: 1.31100 – 1.31625
52-week range: 1.2458 – 1.4692
The Canadian dollar rose significantly in price last week. The USD/CAD currency pair fell by more than 150 pips. Today, the Canadian currency rally has continued. Trading opened with a «gap down».
Indicators signals are ambiguous. The MACD histogram has fixed in the negative zone and below its signal line, indicating sales of USD/CAD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, indicating the growth of the USD/CAD currency pair.
Important economic news from Canada is not expected today.
Support levels: 1.31150
Resistance levels: 1.31800
Our Friday’s expectations were confirmed. We believe that the USD/CAD currency pair may continue to fall to the level of 1.30750.
Forecast for the USDJPY currency pair
Chg. % for the last day: -0.45
Day range: 115.153 – 115.872
52-week range: 99.08 – 123.69
The yen is under pressure due to weak data on the index of business activity in the services sector. In November the figure was 0.2%, compared with market expectations of 0.3%. During the Asian trading session, the USD/JPY quotes rose by more than 50 pips.
The MACD histogram is in the positive zone and above its signal line, indicating the increase in the USD/JPY currency pair.
Stochastic Oscillator has reached overbought zone, the %K line is above the %D line, which gives a weak signal to buy USD/JPY.
It is necessary to pay attention to the news feed from the US.
Support levels: 115.250, 114.350
Resistance levels: 116.000
Friday’s forecast was quite accurate. We believe that the “bullish” moods on the USD/JPY currency pair may continue. We recommend buying to around 116.400.