The Analytical Overview of the Main Currency Pairs on 2020.07.27

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.15915
  • Open: 1.16419
  • % chg. over the last day: +0.52
  • Day's range: 1.16404 – 1.17250
  • 52 wk range: 1.0777 – 1.1725

The greenback continues to lose ground against its main competitors. EUR/USD quotes have set new annual highs. Investors expect the Fed meeting this week. We also recommend following the latest information regarding the conflict between Washington and Beijing. At the moment, the EUR/USD currency pair is consolidating in the range of 1.1655-1.1725. In the near future, a technical correction of the trading instrument is possible. We recommend opening positions from key levels.

The news feed on 2020.07.27:
  • – Report on durable goods orders in the US at 15:30 (GMT+3:00).
EUR/USD

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 EUR/USD.

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

Trading recommendations
  • Support levels: 1.1655, 1.1620, 1.1540
  • Resistance levels: 1.1725, 1.1760

If the price fixes above 1.1725, further growth of EUR/USD quotes is expected. The movement is tending to 1.1750-1.1780.

An alternative could be a decline in the EUR/USD currency pair to 1.1600-1.1580.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27323
  • Open: 1.27854
  • % chg. over the last day: +0.39
  • Day's range: 1.27741 – 1.28586
  • 52 wk range: 1.1466 – 1.3516

The GBP/USD currency pair continues to show a steady uptrend. The trading instrument has updated key extremes. At the moment, the British pound is testing local support and resistance levels: 1.2800 and 1.2855, respectively. The demand for greenback is still low. GBP/USD quotes have the potential for further growth. We recommend paying attention to the news feed on the US economy. Positions should be opened from key levels.

The news feed on the UK economy is calm.

GBP/USD

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

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

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

Trading recommendations
  • Support levels: 1.2800, 1.2760, 1.2715
  • Resistance levels: 1.2855, 1.2900

If the price fixes above 1.2855, further growth in GBP/USD quotes is expected. The movement is tending to 1.2900-1.2920.

An alternative could be a decline in the GBP/USD currency pair to 1.2760-1.2730.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.34107
  • Open: 1.34217
  • % chg. over the last day: +0.03
  • Day's range: 1.33711 – 1.34312
  • 52 wk range: 1.2949 – 1.4668

The USD/CAD currency pair continues to consolidate. The technical pattern is ambiguous. Financial market participants expect additional drivers. At the moment, the local support and resistance levels are 1.3350 and 1.3400, respectively. We recommend paying attention to the dynamics of the "black gold" prices. Positions should be opened from key levels.

The news feed on Canada's economy is calm.

USD/CAD

Indicators do not give accurate signals: the price is testing 50 MA.

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

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

Trading recommendations
  • Support levels: 1.3350, 1.3300
  • Resistance levels: 1.3400, 1.3440, 1.3480

If the price fixes below 1.3350, USD/CAD quotes are expected to fall further. The movement is tending to 1.3320-1.3290.

An alternative could be a recovery of the USD/CAD currency pair to 1.3440-1.3480.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.851
  • Open: 106.015
  • % chg. over the last day: -0.68
  • Day's range: 105.268 – 106.097
  • 52 wk range: 101.19 – 112.41

USD/JPY quotes show a steady downtrend. The trading instrument has updated its local lows again. At the moment, the USD/JPY currency pair is testing support of 105.25. The 105.70 mark is the nearest resistance. The trading instrument has the potential for further decline. We recommend paying attention to the dynamics of the US government bonds yield. Positions should be opened from key levels.

Today, the news feed on Japan's economy is calm.

USD/JPY

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

The MACD histogram is in the negative zone, which indicates the bearish sentiment.

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

Trading recommendations
  • Support levels: 105.25, 104.80
  • Resistance levels: 105.70, 106.15, 106.45

If the price fixes below 105.25, a further fall in USD/JPY quotes is expected. The movement is tending to 105.00-104.80.

An alternative could be the growth of the USD / JPY currency pair to 106.00-106.20.

Justforex, 27.07.2020

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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