Analytical Overview Of The Main Currency Pairs - Tuesday, August 4

The news feed on the UK economy is calm.

(Click on image to enlarge)

GBP/USD

The indicators do not give accurate signals: the price has crossed the 50 MA and 100 MA.

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

Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.3020, 1.2950, 1.2900
  • Resistance levels: 1.3100, 1.3160

If the price fixes below 1.3020, GBP/USD quotes are expected to correct. The movement is tending to 1.2960-1.2920.

An alternative could be the growth of the GBP/USD currency pair to 1.3150-1.3200.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.34015
  • Open: 1.33885
  • % chg. over the last day: -0.05
  • Day's range: 1.33610 – 1.34045
  • 52 wk range: 1.2949 – 1.4668

The USD/CAD currency pair is still being traded in a flat. The technical pattern is ambiguous. At the moment, the local support and resistance levels are 1.3360 and 1.3400, respectively. The positive dynamics of oil quotes support the loonie. We do not exclude a decrease in the trading instrument in the short term. Positions should be opened from key levels.

The news feed on Canada's economy is calm.

(Click on image to enlarge)

USD/CAD

Indicators do not give accurate signals: 50 MA has started crossing 100 MA.

The MACD histogram has been declining, which indicates the development of bearish sentiment.

Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.3360, 1.3335, 1.3300
  • Resistance levels: 1.3400, 1.3450, 1.3480

If the price fixes below 1.3360, USD/CAD quotes are expected to fall. The movement is tending to 1.3335-1.3300.

An alternative could be the growth of the USD/CAD currency pair to 1.3430-1.3460.

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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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