Chg. % for the last day: -0.43
Day range: 1.04086 – 1.04648
52-week range: 1.0366 – 1.1616
During the Asian session, the US dollar suddenly weakened against other major currencies. Growth of the EUR/USD quotations exceeded 150 points. Liquidity in financial markets declined significantly in anticipation of the New Year holidays. However, the technical pattern of EUR/USD indicates the correction development.
The MACD histogram has started to decline and fixed below the signal line, indicating sales on the EUR/USD currency pair.
Stochastic Oscillator has reached oversold zone, the %K line is beginning to cross the %D line. There are no signals yet.
The news background is calm. At 16:45 (GMT + 2: 00), the index of business activity in Chicago will be published.
Support levels: 1.04700
Resistance levels: 1.05350
We expect a correction in the EUR/USD currency pair. One should consider selling to the already “mirror” support level of 1.04700.
Forecast for the GBPUSD currency pair
Chg. % for the last day: +0.30
Day range: 1.22451 – 1.23078
52-week range: 1.2016 – 1.5513
Yesterday, there was high trading activity on the GBP/USD currency pair. At the same time, unidirectional movement on the market was not observed. At the moment, the currency is being traded in a range of 1.22650-1.22950.
The MACD histogram has consolidated in the positive area and continued to rise, indicating the growth of the GBP/USD quotations.
Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals yet.
Important news from the UK is not expected today.
Support levels: 1.22650, 1.21100
Resistance levels: 1.23400
Yesterday’s forecast was confirmed. We expect growth of the GBP/USD quotations. We recommend buying to the mark of 1.23250.
Forecast for the USDCAD currency pair
Chg. % for the last day: -0.43
Day range: 1.34598 – 1.35076
52-week range: 1.2458 – 1.4692
Yesterday, the aggressive sales were observed on the USD/CAD currency pair. Quotes fell by more than 75 points. At the moment, the currency is testing the support level of 1.34750.
Indicators signals are ambiguous. The MACD histogram is in the negative zone, but above the signal line, which delivers a weak signal to sell USD/CAD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the development of the “bullish” moods on USD/CAD.
The publication of important statistics on Canada’s economy is not planned.
Support levels: 1.34750, 1.34200
Resistance levels: 1.35450
Our assumptions were confirmed yesterday. We believe that the USD/CAD currency pair may continue to fall to the level of 1.34500.
Forecast for the USDJPY currency pair
Chg. % for the last day: -0.60
Day range: 116.041 – 117.122
52-week range: 99.08 – 123.69
Yesterday there was an increased demand for yen. The USD/JPY currency pair fell by 0.6% and reached the support level of 116.350. During the Asian session, the US dollar has won back most of the losses.
The MACD histogram has started to rise and moved into the positive zone, which indicates a further increase of USD/JPY.
Stochastic Oscillator is in the overbought zone, the %K line is beginning to cross the %D line. Currently, there are no signals.
The news feed is calm for the Japanese economy.
Support levels: 116.350
Resistance levels: 117.000, 117.450
Yesterday’s recommendations were confirmed. If the price consolidates above 117.150, we recommend buying USD/JPY. Potential movement is to 117.450.