Forecast for the EUR/USD currency pair

Technical indicators of the currency pair:

Prev Opening: 1.07825
Opening: 1.08332
% for the last day: +0.15
Daily range: 1.08278 – 1.08697
52-week range: 1.0366 – 1.1616

Today, there are aggressive purchases on the EUR/USD currency pair. The US dollar is under pressure due to an unsuccessful attempt to pass a bill on health care reform. The currency found resistance at 1.08650.

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The MACD histogram is located in the positive area and above the signal line, which indicates the growth of the EUR/USD quotes.

Stochastic Oscillator is near the overbought zone, the %K line crossed the %D line. There are no signals yet.

News background:
– IFO business climate index in Germany (11:00 GMT+3:00);
– speech by ECB member Lautenschleger (12:20 GMT+2:00);
– speech by ECB member Prat (15:00 GMT+2:00).

Trading recommendations:

Support levels: 1.08150
Resistance levels: 1.08650

Our past expectations have been confirmed. We believe that the growth of the EUR/USD currency pair may continue.The movement potential – to the round level of 1.09000.

Forecast for the GBP/USD currency pair

Technical indicators of the currency pair:

Prev Opening: 1.25164
Opening: 1.24922
% Of the last day: -0.41
Daily range: 1.24885 – 1.25523
52-week range: 1.1986 – 1.5020

Last two weeks there was an upward trend on the GBP/USD currency pair. During this period, the pound grew against the US dollar by more than 350 points. At the moment, the key trading range is 1.25250-1.26000.

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The MACD histogram has fixed in the positive zone and continues to rise, which indicates further growth of the GBP/USD currency pair.

Stochastic Oscillator is in the overbought zone, the %K line crossed the %D line. Currently, there are no signals.

The news background on the economy of Britain is calm today.

Trading recommendations:

Support levels: 1.25250, 1.24350
Resistance levels: 1.26000

The previous forecast turned out to be quite accurate. We expect further growth of GBP/USD. We recommend considering purchases to around 1.26000.

Forecast for the USD/CAD currency pair

Technical indicators of the currency pair:
Prev Opening: 1.33533
Opening: 1.33547
Chg. % Last day: +0.21
Day range: 1.33223 – 1.33667
52-week range: 1.2458 – 1.4692

Today, there is an increase in demand for the Canadian dollar. The USD/CAD currency pair opened with a gap down and continued to decline. The drop in quotes exceeded 50 points. The nearest support is the level of 1.33200.

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Indicators signals are ambiguous. The MACD histogram is in the negative zone and below the signal line, which gives the signal to sell USD/CAD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, indicating the growth of the USD/CAD quotes.

There is no important news from Canada today.

Trading recommendations:
Support levels: 1.33200, 1.32800
Resistance levels: 1.33700

We expect a downward trend on the USD/CAD currency pair. One should to seek entry points for opening short positions. The nearest goal for profit-taking is 1.32800.

The forecast for USD/JPY

Technical indicators of the currency pair:

Prev. Opening: 110.987
Opening: 110.935
Chg. % Last day: +0.36
Day Range: 110.130 – 111.046
52-week range: 99.08 – 123.69

At the moment, there are “bearish” moods on the USD/JPY currency pair. With the opening of Asian session, the yen rose in price by more than 75 points. The currency found support at 110.150.

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The MACD histogram has fixed in the negative zone and below the signal line, indicating a drop in the USD/JPY currency pair.

Stochastic Oscillator has reached the oversold zone, the %K line crossed the %D line. There are no signals yet.

There are no important economic reports from Japan today.

Trading recommendations:

Support levels: 110.150
Resistance levels: 110.750, 111.500

If the USD/JPY quotes consolidate below the support level of 110.150, be sure to consider sales. The potential for movement – 109.750-109.500.