The Analytical Overview of the Main Currency Pairs on 2019.09.02

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10566
  • Open: 1.09898
  • % chg. over the last day: -0.60
  • Day's range: 1.09830 - 1.09857
  • 52 wk range: 1.0963 - 1.1817

Aggressive sales were observed on Friday on the EUR/USD currency pair. The drop in quotes exceeded 75 points. The trading tool has updated the key lows. The euro came under pressure after the release of weak inflation data in the eurozone. Some experts believe that the ECB at the next meeting may signal the introduction of additional financial incentives. At the moment, EUR / USD quotes are consolidating in the range of 1.09650-1.10000. We recommend opening positions from these marks.

At 10:55 (GMT+3:00), Germany will publish the business activity index in the manufacturing industry.

EUR/USD

Indicators indicate the strength 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 EUR/USD.

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

Trading recommendations
  • Support levels: 1.09650, 1.09500
  • Resistance levels: 1.10000, 1.10350, 1.10600

If the price consolidates below 1.09650, expect a further drop toward 1.09400-1.09200.

Alternatively, the quotes could recover toward 1.10300-1.10500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22049
  • Open: 1.21803
  • % chg. over the last day: -0.23
  • Day's range: 1.21747 - 1.21918
  • 52 wk range: 1.2015 - 1.3385

The GBP/USD currency pair stabilized after a sharp decline since the beginning of this week. GBP is currently consolidating. There is no defined trend. The key support and resistance levels are 1.21600 and 1.22000, respectively. Investors expect up-to-date information regarding the Brexit process. Today we recommend paying attention to statistics from the United States. Positions must be opened from these levels.

The Economic News Feed for 02.09.2019 is calm.

  • - Economic Event (GB) – 00:00 (GMT+3:00);
  • - Economic Event (GB) – 00:00 (GMT+3:00);
  • - Economic Event (GB) – 00:00 (GMT+3:00);
GBP/USD

The price fixed below 50 MA and 100 MA, which signals the strength 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 in the neutral zone, the %K line is above the %D line, which indicates bullish sentiment.

Trading recommendations
  • Support levels: 1.21600, 1.21100, 1.20700
  • Resistance levels: 1.22000, 1.22500, 1.23000

If the price consolidates above the round level of 1.22000, expect the quotes to rise toward 1.22400-1.22600.

Alternatively, the quotes could decrease toward 1.21300-1.21100.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32897
  • Open: 1.33128
  • % chg. over the last day: +0.20
  • Day's range: 1.33128 - 1.33251
  • 52 wk range: 1.2727 - 1.3664

The technical picture on the USD/CAD currency pair is still ambiguous. Unidirectional trends are not observed. CAD is currently consolidating near a local resistance of 1.33250. The round level 1.33000 is the immediate support. USD/CAD quotes have upside potential. We recommend that you pay attention to the dynamics of oil prices. Positions must be opened from key levels.

The Canada's financial markets are closed today due to the holiday.

USD/CAD

The price fixed above 50 MA and 100 MA, which signals the strength of buyers.

The MACD histogram is in the positive zone, which also gives a signal to buy USD / CAD.

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

Trading recommendations
  • Support levels: 1.33000, 1.32800, 1.32550
  • Resistance levels: 1.33250, 1.33400

If the price consolidates above 1.33250, expect the quotes to grow toward 1.33400-1.33600.

Alternatively, the quotes could drop toward 1.32800-1.32650.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.517
  • Open: 106.048
  • % chg. over the last day: -0.20
  • Day's range: 105.920 - 106.242
  • 52 wk range: 104.97 - 114.56

The USD/JPY currency pair stabilized after the rally last week. The trading instrument is currently consolidating. The key support and resistance levels are: 105.850 and 106.300, respectively. Financial market participants continue to monitor the trade conflict between Washington and Beijing. We also recommend paying attention to the dynamics of yield on US government bonds. USD/JPY quotes have the potential for further growth. Positions must be opened from key levels.

The Economic News Feed for 02.09.2019 is calm.

USD/JPY

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

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

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

Trading recommendations
  • Support levels: 105.850, 105.500, 105.150
  • Resistance levels: 106.300, 106.700, 107.000

If the price consolidates above 106.300, expect further growth toward 106.600-106.850.

Alternatively, the quotes could drop toward 105.600-105.450.

by JustForex, 2019.09.02

We recommend you to get acquainted with the daily overview of the news feed.

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.

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