The Analytical Overview of the Main Currency Pairs on 2020.08.14

The EUR/USD currency pair

• Prev Open: 1.17810
• Open: 1.18134
• % chg. over the last day: +0.25
• Day's range: 1.17909 – 1.18267
• 52 wk range: 1.0777 – 1.1781

The greenback shows a variety of trends against its main competitors. EUR/USD quotes are consolidating. At the moment, the local support and resistance levels are 1.1790 and 1.1825, respectively. Investors expect a report on US retail sales. We also recommend following the latest information regarding the adoption of the new stimulus package for the US economy. Positions should be opened from key levels.

• – Data on GDP of the Eurozone at 12:00 (GMT+3:00);
• – Report on retail sales in the US at 15:30 (GMT+3:00).

Indicators do not give accurate signals: the price has crossed the 50 MA.

The MACD histogram is near the 0 mark.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.

• Support levels: 1.1790, 1.1765, 1.1710
• Resistance levels: 1.1825, 1.1860, 1.1885

If the price fixes above 1.1825, EUR/USD quotes are expected to grow. The movement is tending to 1.1860-1.1890.

An alternative could be a decline in the EUR/USD currency pair to 1.1760-1.1740.

The GBP/USD currency pair

• Prev Open: 1.30309
• Open: 1.30513
• % chg. over the last day: +0.24
• Day's range: 1.30453 – 1.30781
• 52 wk range: 1.1466 – 1.3516

The technical pattern is still ambiguous on the GBP/USD currency pair. The British pound continues to consolidate. Investors expect additional drivers. At the moment, the local support and resistance levels are 1.3045 and 1.3080, respectively. Today, we recommend paying attention to the news feed on the US economy. Positions should be opened from key levels.

We recommend paying attention to the news feed from the US.

Indicators do not give accurate signals: the price has crossed the 50 MA and 100 MA.

The MACD histogram is near the 0 mark.

Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.

• Support levels: 1.3045, 1.3020, 1.2980
• Resistance levels: 1.3080, 1.3120, 1.3160

If the price fixes above 1.3080, GBP/USD quotes are expected to grow. The movement is tending to 1.3120-1.3140.

An alternative may be a decline in the GBP/USD currency pair to the round level of 1.3000.

The USD/CAD currency pair

• Prev Open: 1.32276
• Open: 1.32139
• % chg. over the last day: -0.18
• Day's range: 1.32062 – 1.32482
• 52 wk range: 1.2949 – 1.4668

The USD/CAD currency pair has become stable. The loonie is being traded in a flat. At the moment, the key support and resistance levels are 1.3200 and 1.3255, respectively. The trading instrument is tending to recover. We recommend paying attention to the dynamics of "black gold" prices. Positions should be opened from key levels.

The news feed on Canada's economy is calm enough.

Indicators do not give accurate signals: the price has crossed the 50 MA.

The MACD histogram is near the 0 mark.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.

• Support levels: 1.3200, 1.3170
• Resistance levels: 1.3225, 1.3290, 1.3345

If the price fixes below 1.3200, USD/CAD sales should be considered. The movement is tending to 1.3170-1.3150.

An alternative could be the growth of the USD/CAD currency pair to 1.3290-1.3320.

USD/JPY quotes have become stable after prolonged growth. At the moment, the trading instrument is in a sideways trend. Local support and resistance levels are 106.60 and 107.00, respectively. The USD/JPY currency pair has the potential for further growth. We recommend paying attention to the dynamics of US government bonds yield. Positions should be opened from key levels.

The news feed on Japan's economy is calm.

Indicators do not give accurate signals: the price has fixed between 50 MA and 100 MA.

The MACD histogram is near the 0 mark. There are no signals at the moment.

Stochastic Oscillator is in the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.

• Support levels: 106.60, 106.45, 106.20
• Resistance levels: 107.00, 107.50

If the price fixes above 107.00, further growth in USD/JPY quotes is expected. The movement is tending to 107.40-107.60.

An alternative could be a decline in the USD/JPY currency pair to 106.30-106.10.

by JustMarkets, 2020.08.14

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.