Forecast for the EURUSD currency pair
Chg. % for the last day: +0.44
Day range: 1.06033 – 1.06495
52-week range: 1.0538 – 1.1616
Yesterday ECB President Draghi said that the regulator intends to leave the monetary stimulus at the current levels. Trading on the EUR/USD currency pair was quite calm. The currency continues to test the support level of 1.05800.
The MACD histogram has started up and moved into the positive zone, indicating an increase of EUR/USD.
Stochastic Oscillator has come out of the oversold zone, the %K line is above the %D line, which also indicates an upward trend on EUR/USD.
Important news on the EU economy is not expected today. It is worth to pay attention to the news feed from the USA. At 17:00 (GMT + 2: 00), the data on sales of existing homes market will be released.
Support levels: 1.05800
Resistance levels: 1.07250
We expect a correction on the EUR/USD currency pair. Quotes may achieve local resistance of 1.07200.
Forecast for the GBPUSD currency pair
Chg. % for the last day: +1.36
Day range: 1.23184 – 1.23645
52-week range: 1.24642 – 1.25125
Yesterday, the GBP/USD currency pair was under “bullish” moods. The quotations growth exceeded 150 pips. At the moment, the currency is testing the local resistance of 1.25100.
The MACD histogram has fixed in the positive zone, but below the signal line, which sends a weak signal to buy GBP/USD.
Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals yet.
At 13:00 (GMT + 2: 00) the index of industrial orders in Britain will be released.
Support levels: 1.24350, 1.23600
Resistance levels: 1.25100
If the price overcomes and fixes above the level of 1.25100, be sure to consider the purchase of GBP/USD to the local resistance level of 1.25550.
Forecast for the USDCAD currency pair
Chg. % for the last day: -0.68
Day range: 1.33794 – 1.34331
52-week range: 1.2458 – 1.4692
During yesterday’s trading session the correction on the USD/CAD currency pair continued. The Canadian dollar strengthened against the US dollar by more than 75 points.
The MACD histogram is in the negative zone and below its signal line, indicating a continuation of the corrective movement on USD/CAD.
Stochastic Oscillator has fixed in the neutral zone, the %K line is below the %D line, indicating sales on the USD/CAD currency pair.
We recommend to pay attention to the publication of the benchmark index of retail sales in Canada (15:30 GMT + 2: 00).
Support levels: 1.33500
Resistance levels: 1.34000, 1.34600
Yesterday, our expectations were confirmed. We believe that the USD/CAD currency pair may continue to fall to the level of 1.33500.
Forecast for the USDJPY currency pair
Chg. % for the last day: -0.10
Day range: 110.267 – 111.229
52-week range: 99.08 – 123.69
Yesterday, a significant change in the yen rate did not happen. The USD/JPY currency pair was testing the resistance level of 111.000.
The MACD histogram has continued to decline and fixed below the signal line, which indicates the development of the downward trend on the USD/JPY currency pair.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, indicating sale of USD/JPY.
The news background for the Japanese economy is calm. We recommend to pay attention to statistics from the US.
Support levels: 109.750, 108.600
Resistance levels: 111.000
If the statistical data of the US is weak, the USD/JPY quotations may decline to around 110,100.
An alternative could be a further increase of USD/JPY to a local resistance of 111.500.