The EUR/USD currency pair
Technical indicators of the currency pair:
- Prev Open: 1.18333
- Open: 1.18285
- % chg. over the last day: -0.03
- Day’s range: 1.18166 – 1.18498
- 52 wk range: 1.0637 – 1.1967
Since the beginning of this week, the greenback has shown ambiguous results against its main competitors. The EUR/USD currency pair is being traded in a flat. Financial market participants are focused on today’s speech by the Fed Chairman. Today, Jerome Powell will speak at the annual Jackson Hole symposium. During his speech, he will talk about the revision of the monetary policy by the Fed. Trading activity and volatility may increase significantly. At the moment, the key range is 1.1785-1.1845. We recommend opening positions from these marks.
The news feed on 2020.08.27:
- – Data on US GDP at 15:30 (GMT+3:00);
- – Initial jobless claims in the US at 15:30 (GMT+3:00);
- – Speech by the Fed Chairman at 16:10 (GMT+3:00);
- – Pending home sales in the US at 17:00 (GMT+3:00).
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.
Trading recommendations
- Support levels: 1.1785, 1.1755
- Resistance levels: 1.1845, 1.1885, 1.1920
If the price fixes above 1.1845, EUR/USD quotes are expected to grow. The movement is tending to 1.1885-1.1920.
An alternative may be a decline in the EUR/USD currency pair to 1.1755-1.1720.
The GBP/USD currency pair
Technical indicators of the currency pair:
- Prev Open: 1.31429
- Open: 1.31988
- % chg. over the last day: +0.44
- Day’s range: 1.31937 – 1.32295
- 52 wk range: 1.1409 – 1.3516
The bullish sentiment prevails on the GBP/USD currency pair. The British pound has reached key extremes. At the moment, GBP/USD quotes are consolidating. Local support and resistance levels are 1.3185 and 1.3230, respectively. Investors expect a speech by the Fed Chairman. Further growth of the trading instrument is possible. Positions should be opened from key levels.
The news feed on the UK economy is calm.
Indicators signal the power of buyers: the price has fixed above 50 MA and 100 MA.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy GBP/USD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
Trading recommendations
- Support levels: 1.3185, 1.3160, 1.3115
- Resistance levels: 1.3230, 1.3260
If the price fixes above 1.3230, GBP/USD quotes are expected to grow. The movement is tending to 1.3260-1.3300.
An alternative could be a decline in the GBP/USD currency pair to 1.3150-1.3120.
The USD/CAD currency pair
Technical indicators of the currency pair:
- Prev Open: 1.31689
- Open: 1.31413
- % chg. over the last day: -0.22
- Day’s range: 1.31361 – 1.31664
- 52 wk range: 1.2949 – 1.4669
The technical pattern on the USD/CAD currency pair is still ambiguous. The loonie is still being traded in a flat with a quite wide range. At the moment, the local support and resistance levels are 1.3135 and 1.3165, respectively. The trading instrument is tending to decline. We recommend paying attention to the news feed on the US economy. Positions should be opened from key levels.
Important economic releases from Canada are not planned to be published.
Indicators signal the power of sellers: the price has fixed below 50 MA and 100 MA.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/CAD.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.
Trading recommendations
- Support levels: 1.3135, 1.3100
- Resistance levels: 1.3165, 1.3190, 1.3205
If the price fixes below 1.3135, USD/CAD sales should be considered. The movement is tending to 1.3100-1.3070.
An alternative could be the growth of the USD/CAD currency pair to 1.3190-1.3220.
The USD/JPY currency pair
Technical indicators of the currency pair:
- Prev Open: 106.362
- Open: 105.982
- % chg. over the last day: -0.36
- Day’s range: 105.803 – 106.076
- 52 wk range: 101.19 – 112.41
The USD/JPY currency pair has moved away from local highs. At the moment, the trading instrument is consolidating. Local support and resistance levels are 105.80 and 106.15, respectively. Financial market participants expect a speech by the Fed Chairman. We also recommend paying attention to the dynamics of US government bonds yield. Positions should be opened from key levels.
The publication of important economic releases from Japan is not planned.
Indicators do not give accurate signals: the price has crossed the 100 MA.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/JPY.
Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
- Support levels: 105.80, 105.45, 105.15
- Resistance levels: 106.15, 106.40, 106.55
If the price fixes below 105.80, a further drop in USD/JPY quotes is expected. The movement is tending to 105.50-105.20.
An alternative could be the growth of the USD/JPY currency pair to 106.50-106.80.
Reprinted from countingpips, the copyrights all reserved by the original author.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.