Forecast for the EUR/USD currency pair
Prev Opening: 1.07825
% for the last day: +0.15
Daily range: 1.08278 – 1.08697
52-week range: 1.0366 – 1.1616
Today, there are aggressive purchases on the EUR/USD currency pair. The US dollar is under pressure due to an unsuccessful attempt to pass a bill on health care reform. The currency found resistance at 1.08650.
The MACD histogram is located in the positive area and above the signal line, which indicates the growth of the EUR/USD quotes.
Stochastic Oscillator is near the overbought zone, the %K line crossed the %D line. There are no signals yet.
– IFO business climate index in Germany (11:00 GMT+3:00);
– speech by ECB member Lautenschleger (12:20 GMT+2:00);
– speech by ECB member Prat (15:00 GMT+2:00).
Support levels: 1.08150
Resistance levels: 1.08650
Our past expectations have been confirmed. We believe that the growth of the EUR/USD currency pair may continue.The movement potential – to the round level of 1.09000.
Forecast for the GBP/USD currency pair
Prev Opening: 1.25164
% Of the last day: -0.41
Daily range: 1.24885 – 1.25523
52-week range: 1.1986 – 1.5020
Last two weeks there was an upward trend on the GBP/USD currency pair. During this period, the pound grew against the US dollar by more than 350 points. At the moment, the key trading range is 1.25250-1.26000.
The MACD histogram has fixed in the positive zone and continues to rise, which indicates further growth of the GBP/USD currency pair.
Stochastic Oscillator is in the overbought zone, the %K line crossed the %D line. Currently, there are no signals.
The news background on the economy of Britain is calm today.
Support levels: 1.25250, 1.24350
Resistance levels: 1.26000
The previous forecast turned out to be quite accurate. We expect further growth of GBP/USD. We recommend considering purchases to around 1.26000.
Forecast for the USD/CAD currency pair
Technical indicators of the currency pair:
Prev Opening: 1.33533
Chg. % Last day: +0.21
Day range: 1.33223 – 1.33667
52-week range: 1.2458 – 1.4692
Today, there is an increase in demand for the Canadian dollar. The USD/CAD currency pair opened with a gap down and continued to decline. The drop in quotes exceeded 50 points. The nearest support is the level of 1.33200.
Indicators signals are ambiguous. The MACD histogram is in the negative zone and below the signal line, which gives the signal to sell USD/CAD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, indicating the growth of the USD/CAD quotes.
There is no important news from Canada today.
Support levels: 1.33200, 1.32800
Resistance levels: 1.33700
We expect a downward trend on the USD/CAD currency pair. One should to seek entry points for opening short positions. The nearest goal for profit-taking is 1.32800.
The forecast for USD/JPY
Prev. Opening: 110.987
Chg. % Last day: +0.36
Day Range: 110.130 – 111.046
52-week range: 99.08 – 123.69
At the moment, there are “bearish” moods on the USD/JPY currency pair. With the opening of Asian session, the yen rose in price by more than 75 points. The currency found support at 110.150.
The MACD histogram has fixed in the negative zone and below the signal line, indicating a drop in the USD/JPY currency pair.
Stochastic Oscillator has reached the oversold zone, the %K line crossed the %D line. There are no signals yet.
There are no important economic reports from Japan today.
Support levels: 110.150
Resistance levels: 110.750, 111.500
If the USD/JPY quotes consolidate below the support level of 110.150, be sure to consider sales. The potential for movement – 109.750-109.500.