Forecast for the EUR/USD currency pair
Technical indicators of the currency pair:
Prev Opening: 1.08615
Opening: 1.09310
Chg. % of the last day: +0.64
Daily range: 1.09225 – 1.09428
52-week range: 1.0366 – 1.1616
On Friday, purchases prevailed on EUR/USD. The single currency increased against the US dollar by more than 70 points. This is due to the release of rather weak statistics on inflation and retail sales in the US. At the moment, the key trading range is 1.08950-1.09400.
Indicators point to the strength of buyers. The MACD histogram has fixed in the positive area and continues to rise.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also signals to buy EUR/USD.
There are no important economic reports from the US and the EU today. However, we recommend you to pay attention to the following events:
– speech by the ECB member Praet (14:45 GMT+3:00);
– the index of manufacturing activity of NY Empire State (15:30 GMT+3:00).
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Trading recommendations
Support levels: 1.08950
Resistance levels: 1.09400, 1.09900
We expect further growth of EUR/USD. We recommend considering purchases if the price consolidates above the resistance level of 1.09400. The movement is tending to 1.09800-1.09900.
Forecast for the GBP/USD currency pair
Technical indicators of the currency pair:
Prev Opening: 1.28851
Opening: 1.28823
Chg. % of the last day: +0.04
Daily range: 1.28818 – 1.29354
52-week range: 1.1986 – 1.5020
Today there is an increase in demand for the currency of Britain. At the moment, the GBP/USD quotations have increased by more than 50 points. The currency overcame and consolidated above the round level of 1.29000, which already acts as a “mirror†support. The nearest resistance is at the level of 1.29500.
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