Forecast for the EURUSD currency pair
Pre-opening: 1.06089
Opening: 1.06141
Chg. % for the last day: +0.06
Day range: 1.05884 – 1.06219
52-week range: 1.0538 – 1.1616
Yesterday the EUR/USD currency pair showed a variety trends. Euro is under pressure due to political instability in Italy. At the moment, the currency is being traded in a range 1.05800-1.06400.
The MACD histogram has started to rise, and is above its signal line, indicating an increase of the EUR/USD currency pair.
Stochastic Oscillator has fixed in the neutral zone, the %K line is above the %D line, which also indicates the growth of the single currency quotations.
Financial markets expects the statistics from the US:
– Data on the country’s GDP (15:30 GMT + 2: 00);
– GDP deflator (15:30 GMT + 2: 00);
– CB consumer confidence index (17:00 GMT + 2: 00).
Also, at 15:00 (GMT + 2: 00), the data on consumer prices in Germany will be released.
Trading recommendations:
Support levels: 1.05800
Resistance levels: 1.06400, 1.06850
If data on the US GDP is weak, the EUR/USD quotations could reach 1.06700.
An alternative would be the EUR/USD currency pair reduction to the local support of 1.05400.
Forecast for the GBPUSD currency pair
Pre-opening: 1.24455
Opening: 1.24166
Chg. % for the last day: -0.53
Day range: 1.23878 – 1.24190
52-week range: 1.0538 – 1.1616
Yesterday the GBP/USD currency pair kept the resistance level of 1.25100. Aggressive sales were observed on the market. At present, the pound found support at 1.23850.
Indicators do not send strong signals. The MACD histogram is in the negative zone, but above the signal line.
Stochastic Oscillator has fixed in the neutral zone, the %K line crossed the %D line. Currently, there are no signals.
We recommend waiting for the publication of statistical data on the US economy.
Trading recommendations:
Support levels: 1.23600
Resistance Levels: 1.24350, 1.25100
If the economic news from the US is positive, we expect a further decline of the GBP/USD currency pair to the level of 1.23600.
An alternative would be an increase of the GBP/USD quotes to the local resistance 1.24600.
Forecast for the USDCAD currency pair
Pre-opening: 1.34982
Opening: 1.34093
Chg. % for the last day: -0.81
Day range: 1.33994 – 1.34434
52-week range: 1.0538 – 1.1616
During yesterday’s trading session, the demand for the Canadian dollar has increased significantly. The USD/CAD quotes fell by more than 100 pips. Currently, a correction is observed on the market.
The MACD histogram has started to rise, and is above its signal line, indicating further growth of USD/CAD.
Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals yet.
It is necessary to pay attention to the news feed from the USA.
Trading recommendations:
Support levels: 1.34000
Resistance levels: 1.34600, 1.35250
Yesterday’s forecast was confirmed. We expect the development of the “bearish” moods on the USD/CAD currency pair. We recommend selling to around 1.34000.
Forecast for the USDJPY currency pair
Pre-opening: 112.798
Opening: 111.927
Chg. % for the last day: -0.63
Day range: 111.617 – 112.514
52-week range: 99.08 – 123.69
Over the past few trading sessions, the USD/JPY currency pair has corrected by more than 150 pips. At present, the yen is testing the “mirror” resistance level of 112.350.
Indicators signals are ambiguous. The MACD histogram has fixed in the negative zone, but above the signal line, which sends a weak signal to sell USD/JPY.
Stochastic Oscillator is near overbought zone, the %K line is above the %D line, which gives a weak signal to buy USD/JPY.
We advise paying attention to economic data from the United States.
Trading recommendations:
Support levels: 111.250
Resistance levels: 112.350, 113.600
If data on the US economy is weak, the downward trend on the USD/JPY currency pair may develop to a local support of 111.250.
An alternative could be the growth of the USD/JPY quotations to around 113.250.