The Analytical Overview of the Main Currency Pairs on 2020.07.09

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12695
  • Open: 1.13270
  • % chg. over the last day: +0.51
  • Day's range: 1.13270 – 1.13707
  • 52 wk range: 1.0777 – 1.1494

The EUR/USD quotes have moved to growth. During yesterday's and today's trading sessions, the single currency has added more than 90 points in price relative to the greenback. At the moment, the trading instrument is consolidating in the range 1.1330-1.1370. The United States recorded a new world record of COVID-19 infections. Investors are concerned about the introduction of new restrictive measures. Today, the focus is on data on jobless claims in the United States. Positions need to be opened from key support and resistance levels.

The news feed on 2020.07.09:
  • - The number of jobless claims in the United States at 15:30 (GMT+3:00).
EUR/USD

Indicators point to the power of buyers: the price has fixed above 50 MA and 100 MA.

The MACD histogram is in the positive zone, indicating the bullish sentiment.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell EUR/USD.

Trading recommendations
  • Support levels: 1.1330, 1.1300, 1.1285
  • Resistance levels: 1.1370, 1.1400

If the price fixes above 1.1370, EUR/USD is expected to rise. The movement is tending to 1.1400-1.1430.

An alternative could be a decrease in the EUR/USD currency pair to 1.1300-1.1280.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.25338
  • Open: 1.25959
  • % chg. over the last day: +0.55
  • Day's range: 1.25947 - 1.26525
  • 52 wk range: 1.1466 – 1.3516

The GBP/USD currency pair continues to show a steady uptrend. Sterling has set new local highs. GBP/USD quotes have found resistance at 1.2650. The mark of 1.2585 is already a "mirror" support. The UK government has introduced a new plan to support the economy in times of crisis, which provides incentive measures totalling about 30 billion pounds. The trading instrument is tending to grow. Positions must be opened from key levels.

The news feed on the UK economy is calm.

GBP/USD

Indicators point to the power of buyers: the price has fixed above 50 MA and 100 MA.

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

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

Trading recommendations
  • Support levels: 1.2585, 1.2520, 1.2470
  • Resistance levels: 1.2650, 1.2700

If the price fixes above 1.2650, further growth of GBP/USD quotes is expected. The movement is tending to the round level of 1.2700.

An alternative could be a decrease in the GBP/USD currency pair to 1.2540-1.2500.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.35985
  • Open: 1.35107
  • % chg. over the last day: -0.68
  • Day's range: 1.34941 – 1.35251
  • 52 wk range: 1.2949 – 1.4668

The bearish sentiment is prevailing in the USD/CAD currency pair. The trading instrument has overcome and fixed below the key extremes. Loonie is currently consolidating in the range of 1.3490-1.3525. USD/CAD quotes are tending to decline. We recommend you to pay attention to the dynamics of prices of "black gold". Positions must be opened from key levels.

At 15:30 (GMT+3:00) statistics on the real estate market in Canada will be published.

USD/CAD

Indicators point to the power of sellers: the price has fixed below 50 MA and 100 MA.

The MACD histogram is in the negative zone, which gives a signal to sell USD/CAD.

Stochastic Oscillator is located near the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.3490, 1.3450
  • Resistance levels: 1.3525, 1.3555, 1.3580

If the price fixes below 1.3490, a further drop in the USD/CAD quotes is expected. The movement is tending to 1.3460-1.3430.

An alternative could be the growth of the USD/CAD currency pair to 1.3550-1.3570.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.544
  • Open: 107.262
  • % chg. over the last day: -0.24
  • Day's range: 107.181 – 107.364
  • 52 wk range: 101.19 – 112.41

The USD/JPY currency pair is still in a flat. The technical pattern is ambiguous. At the moment, the trading instrument is consolidating in a rather narrow range of 107.20-107.35. Participants in financial markets expect additional drivers. We recommend you to pay attention to the dynamics of yield on US government bonds. Positions must be opened from key levels.

The news feed on the Japanese economy is quite calm.

USD/JPY

Indicators point to the power of sellers: the price has fixed below 50 MA and 100 MA.

The MACD histogram is in the negative zone, indicating a bearish sentiment.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy USD/JPY.

Trading recommendations
  • Support levels: 107.20, 107.05, 106.80
  • Resistance levels: 107.35, 107.60, 107.75

If the price fixes below 107.20, USD/JPY is expected to fall. The movement is tending to 106.90-106.70.

An alternative could be the growth of the USD/JPY currency pair to 107.50-107.80.

by JustForex, 2020.07.09

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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