Currency pair EUR / USD
Technical indicators for the currency pair:
Previous Open: 1.08159
Open: 1.09169
% chg. the last day: +0.87
Day range: 1.09022 – 1.09453
52 wk range: 1.0777 – 1.1494
Greenback has weakened significantly against its biggest competitors. In yesterday’s and today’s trading sessions, growth in EUR / USD exchange rates exceeded 120 points. Demand for risky assets has grown significantly after Moderna, a US pharmaceutical company, announced preliminary positive test results for a potential vaccine against the COVID-19 virus. Currently, the trading instrument is consolidated in the range of 1.0900-1.0945. The technical pattern signals a further increase in EUR / USD offers. We expect important financial releases. We recommend opening key-level positions.
The economic news feed for 19.05.2020
ZEW economic sentiment indexes in Germany and the euro area at. 12:00 (GMT + 3: 00);
Statistics on the U.S. real estate market at. 15:30 (GMT + 3: 00).
We also recommend paying attention to the Fed President’s speech.
Indicators signal the power of buyers: the price has been over 50 MA and 100 MA.
The MACD histogram is in the positive zone, indicating bullish sentiment.
Stochastic oscillator is in the neutral zone, the% K line is above the% D line, which also gives a signal to buy EUR / USD.
trade Recommendations
Support Levels: 1.0900, 1.0875, 1.0850
Resistance Levels: 1.0945, 1.0980, 1.1000
If the price is set above 1.0945, further growth in the EUR / USD currency pair is expected. The move tends to 1.0970-1.1000.
An alternative could be a fall in EUR / USD exchange rates to 1.0875-1.0860.
GBP / USD currency pair
Technical indicators for the currency pair:
Previous Open: 1.20756
Open: 1.21932
% chg. the last day: +0.89
Day range: 1.21846 – 1.22681
52 wk range: 1.1466 – 1.3516
GBP / USD deals have grown. Demand for risky assets has resumed. The British Pound has updated local highs. The trading instrument found resistance at 1.2265. The 1.2190 mark is already a “mirror” support. The GBP / USD currency pair has the potential for further recovery. We recommend opening key-level positions.
The UK has published weak labor market data.
Indicators do not give accurate signals: The price is fixed between 50 MA and 100 MA.
The MACD histogram is in the positive zone and above the signal line, giving a strong signal to buy GBP / USD.
Stochastic oscillator is in the neutral zone, the% K line has begun to cross the% D line. There are no signals at this time.
trade Recommendations
Support Levels: 1.2190, 1.2135, 1.2075
Resistance levels: 1.2265, 1.2325, 1.2375
If the price is set above 1.2265, further growth of GBP / USD offers is expected. The move tends to 1.2320-1.2340.
An alternative could be a fall in the GBP / USD currency pair to 1.2150-1.2120.
Currency pair USD / CAD
Technical indicators for the currency pair:
Previous Open: 1.41067
Open: 1.39377
% chg. the last day: -1.11
Day range: 1.39068 – 1.39694
52 wk range: 1.2949 – 1.4668
There is aggressive sales on the currency pair USD / CAD. During yesterday’s and today’s trade collections, the fall in prices exceeded 190 points. Greenback demand has weakened. Loonie is supported by the positive dynamics of “black gold” prices. Currently USD / CAD bids are consolidated in the range of 1.3905-1.3970. The Canadian dollar has the potential for further growth against the US dollar. Positions must be opened from the key level.
The publication of important economic releases from Canada is not scheduled.
Indicators signal the seller’s power: The price has been below 50 MA and 100 MA.
The MACD histogram is in the negative zone, indicating the bearish sentiment.
Stochastic oscillator is in the neutral zone, the% K line has crossed the% D line. There are no signals at this time.
trade Recommendations
Support Levels: 1.3905, 1.3850
Resistance levels: 1.3970, 1.4020, 1.4065
If the price is below the support level of 1.3905, a further fall in USD / CAD offer is expected. The move tends to 1.3860-1.3840.
An alternative could be the USD / CAD currency pair growth to 1.4000-1.4030.
Currency pair USD / JPY
Technical indicators for the currency pair:
Previous Open: 107,078
Open: 107,282
% chg. the last day: +0.12
Day range: 107.257 – 107.591
52 wk range: 101.19 – 112.41
The technical pattern is still ambiguous for the USD / JPY currency pair. A trading instrument is consolidated. There is no defined trend. Currently, the local support and resistance levels are: 107.30 and 107.60 respectively. We expect US financial reports. We also recommend paying attention to the dynamics of US government bonds. Positions must be opened from the key level.
The news feed on Japan’s economy is calm enough.
Indicators signal the power of buyers: the price has been over 50 MA and 100 MA.
The MACD histogram is in the positive zone, indicating bullish sentiment.
Stochastic oscillator is in the neutral zone, the% K line has crossed the% D line. There are no signals at this time.
trade Recommendations
Support levels: 107.30, 107.05, 106.75
Resistance levels: 107.60, 107.75, 108.00
If pricing exceeds the resistance level of 107.75, USD / JPY quotes are expected to rise. The move is prone to 108.00-108.25.
An alternative could be a fall in the USD / JPY currency pair to 107.00-106.80.