Forecast for the EUR/USD currency pair
Prev Opening: 1.08676
Chg. % Of the last day: -0.06
Daily range: 1.08554 – 1.08735
52-week range: 1.0366 – 1.1616
The latest trading session EUR/USD was in a sideways motion. At the moment, we can identify the key support and resistance levels: 1.08600 and 1.08950, respectively. The trading during the Asian session was calm. The market is waiting for data on inflation in the US.
The MACD histogram does not provide accurate signals. The indicator is located near the 0 mark.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment on EUR/USD.
Today, the following economic reports will be in the focus of attention:
– the volume of industrial production in the euro area (12:00 GMT+3:00);
– the basic consumer price index in the USA (15:30 GMT+3:00);
– the base index of retail sales in the USA (15:30 GMT+3:00);
– the volume of retail sales in the US (15:30 GMT+3:00).
Support levels: 1.08600
Resistance levels: 1.08950, 1.09300
If the statistics from the US are positive, we recommend selling EUR/USD. The movement is tending to the round level of 1.08000.
An alternative may be the growth of the EUR/USD quotations to the level of 1.08950-1.09200.
Forecast for the GBP/USD currency pair
Prev Opening: 1.29395
Chg. % of the last day: -0.40
Daily range: 1.28522 – 1.29002
52-week range: 1.1986 – 1.5020
Yesterday, the Bank of England, as expected, kept the interest rate at the previous level of 0.25%. At the same time, the Central Bank lowered the forecast of the country’s economic growth for the current year by 0.1% to 1.9%. Sales prevailed on the market. The currency found support at 1.28600. We expect economic reports from the United States.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which also gives a signal to sell GBP/USD.
There are no important news from the UK today.
Support level: 1.28600
Resistance levels: 1.29000, 1.29500
If inflation in the US accelerates, the GBP/USD currency pair may continue to decline. The target level of movement is the round level of 1.28000.
An alternative may be the correction of GBP/USD to the level of 1.29000-1.29200.
Forecast for USD/CAD
Prev Opening: 1.36553
Chg. % of the last day: -0.47
Daily range: 1.36522 – 1.36974
52-week range: 1.2458 – 1.4692
Yesterday’s trading on USD/CAD was very active. At the same time, a unidirectional trend was not observed. The Canadian dollar continues to be traded in the range 1.36500-1.37300. Support is provided by a correction in the market of “black gold”.
The MACD histogram has begun to decline and consolidated below the signal line, which indicates a bearish sentiment on USD/CAD.
Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.
The news background on Canada’s economy is calm today.
Support levels: 1.36500
Resistance levels: 1.37300, 1.37900
If the statistics from the US are positive, we recommend you to look for entry points to the market to open long positions. The target movement level is 1.37500-1.37900. When tracking the position, it is better to use a trailing stop.
An alternative option may be a downward trend in USD/CAD to 1.36500-1.36250.
Forecast for the USD/JPY currency pair
Prev Opening: 114.260
Chg. % of the last day: -0.37
Daily range: 113.543 – 113.949
52-week range: 99.08 – 123.69
During yesterday’s trading, there was a correction on USD/JPY. The currency held the local resistance at 114.250. The yen added more than 40 points. In the Asian session, there was no significant change in the rate of USD/JPY. At the moment, the currency is testing a “mirror” resistance level of 113.750.
The MACD histogram is located in the negative zone and below the signal line, which signals further correction of USD/JPY.
Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. At the moment there are no signals.
We recommend paying attention to the news background from the USA.
Support levels: 113.000
Resistance levels: 113.750, 114.250
If the statistics from the US turns out to be weak, the correction of USD/JPY may continue. The movement is tending potentially to the round level of 113.000.
An alternative may be the growth of the USD/JPY quotations to the level of 114.250-114.50.