Chg. % for the last day: -0.61
Day range: 1.06582 – 1.06884
52-week range: 1.0366 – 1.1616
During yesterday’s trading session, the US dollar rose against major world currencies. The EUR/USD currency pair has dropped by more than 65 points. At present, the euro is testing the local area demand of 1.06500-1.06650. We expect the US GDP data.
The MACD histogram is in the negative zone, but above the signal line, which delivers a weak signal to sell EUR/USD.
Stochastic Oscillator has come out of the oversold zone, the %K line is above the %D line, indicating the growth of the EUR/USD quotations.
All news on the US economy:
– basic orders for durable goods (15:30 GMT + 2: 00);
– GDP (15:30 GMT + 2: 00);
– the index of consumer expectations and sentiment from the University of Michigan (17:00 GMT + 2: 00).
Also, 12:00 (GMT + 2: 00) a meeting of EU finance ministers will be held.
Support levels: 1.06500
Resistance levels: 1.07150, 1.07550
If the US GDP data is positive, the correction in EUR/USD may continue to the mark of 1.06250-1.06000.
An alternative would be an increase of the EUR/USD quotes up to the resistance of level 1.07150.
Forecast for the GBPUSD currency pair
Chg. % for the last day: -0.32
Day range: 1.25293 – 1.26051
52-week range: 1.2016 – 1.5513
Yesterday, there was a correction in the GBP/USD currency pair. The pound has lost in price more than 40 points. Today, the US dollar has continued to rise against the British currency. At the moment the GBP/USD currency pair is being traded near the support level of 1.25450.
Indicators signals are different. The MACD histogram has started to decline and moved into the negative zone, indicating a continuation of the corrective movement on GBP/USD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy GBP/USD.
Important news from the UK is not expected today.
Support levels: 1.25450, 1.24150
Resistance levels: 1.26600
If statistics from the US is weak, an upward trend in GBP/USD may continue. The potential movement is up to the resistance level of 1.26600.
An alternative could be a further correction in GBP/USD to the level of 1.24750.
Forecast for the USDCAD currency pair
Chg. % for the last day: +0.15
Day range: 1.30824 – 1.31297
52-week range: 1.2458 – 1.4692
Yesterday the USD/CAD currency pair kept the support level of 1.30550, prompting aggressive buying. However, the trading ended with a slight increase of the US currency. Currently, USD/CAD is testing the already “mirror” support level of 1.31100.
The MACD histogram has started to rise and moved into the positive zone, which indicates the development of an upward trend in USD/CAD.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, indicating sales of USD/CAD.
We recommend to pay attention to economic data from the United States.
Support levels: 1.31100, 1.30550
Resistance levels: 1.31750
We continue to expect the decrease of the USD/CAD quotes. The immediate objective for profit is 1.30500.
Forecast for the USDJPY currency pair
Chg. % for the last day: +1.10
Day range: 114.385 – 115.309
52-week range: 99.08 – 123.69
Yesterday, purchases prevailed on the USD/JPY currency pair. The growth of the USD/JPY quotations exceeded 1%. Today, the US dollar rally has continued. The currency reached the key resistance level of 115.300.
The MACD histogram has consolidated in the positive zone and above its signal line, indicating further growth of the USD/JPY currency pair.
Stochastic Oscillator has reached the overbought zone, the %K line crossed %D line. There are no signals yet.
It is necessary to pay attention to the news feed from the US.
Support levels: 114.500, 113.850
Resistance levels: 115.300
If the statistical data from the US is optimistic, the growth of the USD/JPY quotations may continue to around 115.700.
An alternative may be a correction in USD/JPY up to the support level of 114.500.