The EUR/USD currency pair
- Prev Open: 1.22728
- Open: 1.22078
- % chg. over the last day:0.52
- Day’s range: 1.218451.22238
- 52 wk range: 1.05711.2557
Yesterday, the US dollar continued to strengthen against the major currencies. Support was provided by the growth of the government bonds yield and optimistic data on the real estate market in the United States. In March, existing home sales grew by 1.1%, which is much higher than market expectations at 0.2%. Fall in the EUR/USD quotes has exceeded 70 points. The trading instrument has reached a round level of 1.22000. The 1.22600 mark is already a “mirror” resistance. We recommend opening positions from the key levels.
- IFO business climate index in Germany at 11:00 (GMT+3:00);
- Consumer confidence index in the US at 17:00 (GMT+3:00);
- New home sales in the US at 17:00 (GMT+3:00).
The signals of the indicators are different. The price has fixed below 50 MA and 200 MA, which signals the power of sellers.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.
Stochastic Oscillator is located in the overbought zone, the %K line is crossing the %D line. There are no signals at the moment.
- Support levels: 1.22000, 1.21500
- Resistance levels: 1.22300, 1.22600, 1.23000
If the price fixes below the round level of 1.22000, further decrease in the EUR/USD currency pair is expected. The movement is tending potentially to 1.21500.
Alternative option. If the price fixes above 1.22300, it is necessary to consider purchases of EUR/USD. The target movement level is 1.226001.22800.
The GBP/USD currency pair
- Prev Open: 1.40000
- Open: 1.39387
- % chg. over the last day:0.46
- Day’s range: 1.391791.39540
- 52 wk range: 1.23611.4345
Yesterday, the pound continued to lose ground against the US dollar. Fall in the GBP/USD quotes was almost 70 points. At the moment, the trading instrument is consolidating in a rather narrow range of 1.392501.39550. In the near future, a technical correction is not ruled out. We recommend you to open positions from the key levels. Investors expect economic reports from the United States.
The news feed on the UK economy is calm. At 13:00 (GMT+3:00) the index of industrial orders will be published.
The price has fixed below 50 MA and 200 MA, which signals the power of sellers.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.
Stochastic Oscillator is located near the overbought zone, the %K line is below the %D line, which also gives a signal to sell GBP/USD.
- Support levels: 1.39250, 1.39000
- Resistance levels: 1.39550, 1.40000, 1.40400
If the price fixes below 1.39250, further decrease of the GBP/USD currency pair is expected. The movement is tending potentially to 1.390001.38500.
Alternative option. If the price fixes above 1.39550, the GBP/USD quotes correction is expected. The movement is tending potentially to the round level of 1.40000.
The USD/CAD currency pair
- Prev Open: 1.27504
- Open: 1.28459
- % chg. over the last day: +0.60
- Day’s range: 1.282801.28608
- 52 wk range: 1.2059 1.3795
The USD/CAD currency pair continues to show positive dynamics. During yesterday’s trading, the growth of quotes exceeded 100 points. At the moment, the trading instrument is in a sideways trend. The key range is 1.282001.28550. In the near future, a technical correction is not ruled out. We recommend paying attention to economic reports from the US.
Today, the news feed on Canada’s economy is calm.
The price has fixed above 50 MA and 200 MA, which signals the power of buyers.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.
Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which also signals to buy USD/CAD.
- Support levels: 1.28200, 1.27700, 1.27300
- Resistance levels: 1.28550, 1.29000
If the price fixes above 1.28550, further growth of the USD/CAD currency pair is expected. The movement is tending potentially to the round level of 1.29000.
Alternative option. If the price fixes below the local support of 1.28200, it is necessary to consider sales of USD/CAD. The movement is tending potentially to 1.277001.27500.
The USD/JPY currency pair
- Prev Open: 107.759
- Open: 108.707
- % chg. over the last day: +0.83
- Day’s range: 108.671108.917
- 52 wk range: 104.56114.74
Yesterday, aggressive purchases of USD/JPY were observed. The yen weakened against the US dollar by more than 100 points. The USD/JPY quotes approached the level of 109.000. Local support is the level of 108.600. Demand for the American currency is supported against the US government bonds yield growth and geopolitical risks weakening. Positions must be opened from the key levels.
The news feed on Japan’s economy is calm.
Indicators point to the power of buyers. The price has fixed above 50 MA and 200 MA.
The MACD histogram is located in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also gives a signal to buy USD/JPY.
- Support levels: 108.600, 108.250, 107.750
- Resistance levels: 108.900, 109.500
If the price fixes above the level of 108.900, further growth of the USD/JPY quotes is expected. The movement is tending potentially to 109.500.
Alternative option. If the price fixes below the support level of 108.600, it is necessary to consider sales of USD/JPY. The movement is tending potentially to 108.250108.000.
by JustMarkets, 2018.04.24
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.