Analytical Overview Of The Main Currency Pairs - Monday, Sept. 21

The EUR/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.18456
  • Open: 1.18400
  • % chg. over the last day: +0.07
  • Day's range: 1.18564 – 1.18680
  • 52 wk range: 1.0637 – 1.2012

EUR/USD quotes are in a sideways trend. Financial market participants expect additional drivers. This week investors will be focused on the speeches by the Fed Chairman Jerome Powell: on Tuesday he will give a speech concerning supporting the economy in a pandemic at the Financial Services Committee of the US House of Representatives, on Wednesday he will speak in the House of Representatives, on Thursday – in the Senate Committee on Banking. At the moment, the key support is the level of 1.1830, the key resistance level is 1.1865. We recommend opening positions from these levels.

The publication of important news is not expected today. We recommend paying attention to the speech by the Fed Chairman.

(Click on image to enlarge)


Indicators do not give accurate signals: 50 MA crossed 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 gives a signal to sell EUR/USD.

Trading recommendations

  • Support levels: 1.1830, 1.1790, 1.1750
  • Resistance levels: 1.1865, 1.1900, 1.1960

If the price fixes below 1.1830, EUR/USD quotes are expected to decline. The movement is tending to the round level of 1.1800.

An alternative could be the growth of the EUR/USD currency pair to 1.1900-1.1920.

The GBP/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.29629
  • Open: 1.29213
  • % chg. over the last day: +0.14
  • Day's range: 1.28971 – 1.29640
  • 52 wk range: 1.1409 – 1.3516

During today's trading session, GBP/USD quotes have been declining. Investors are concerned that the UK will have to re-quarantine again due to the rise in new cases of COVID-19. Prime Minister Boris Johnson said on Friday that he did not want new isolation, but new restrictions might be needed because the country was facing an "inevitable" second wave of coronavirus. At the moment, the key support and resistance levels are 1.2870 and 1.2930, respectively. Positions should be opened from these levels.

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Disclosure: 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, ...

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