Forecast for the EUR/USD currency pair

Technical indicators of the currency pair:

Prev Opening: 1.05961
Opening: 1.06643
Chg. % Of the last day: +0.60
Daily range: 1.06494 – 1.06778
52-week range: 1.0366 – 1.1616

Yesterday’s comments by the US President failed the American currency. D. Trump said that the dollar is too “strong.” Also, Trump would prefer to keep interest rates at a low level. In the second half of the day, aggressive purchases were observed on the EUR/USD currency pair. At the moment, the key trading range is 1.06300 – 1.06750.

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The MACD histogram has fixed in the positive area, but below the signal line, which gives a weak signal to buy EUR/USD.

Stochastic Oscillator is located in the neutral zone, %K line is below %D line, which indicates the correction of the EUR/USD currency pair.

The news line on the 13.04.2017:
– the number of initial applications for unemployment benefits in the United States (15:30 GMT+3:00);
– the producer price index in the USA (15:30 GMT+3:00);
– the indices of consumer expectations and sentiment from the University of Michigan (17:00 GMT+3:00).
 
Trading recommendations

Support levels: 1.06300, 1.05750
Resistance levels: 1.06750

The previous forecast turned out to be quite accurate. We believe that the growth of the EUR/USD currency pair may continue. We recommend buying. The movement is tending potentially to 1.06750-1.07000.

Forecast for the GBP/USD currency pair

Technical indicators of the currency pair:

Prev Opening: 1.24904
Opening: 1.25356
Chg. % of the last day: +0.39
Daily range: 1.25318 – 1.25743
52-week range: 1.1986 – 1.5020

Yesterday, the pound continued to strengthen against the US dollar. The GBP/USD currency pair overcame and fixed above the round level of 1.25000. The closest resistance is the mark of 1.25700. We are waiting for statistics from the USA.

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The MACD histogram is in the positive area, but below the signal line, which gives a weak signal to buy GBP/USD.

Stochastic Oscillator has fixed in the neutral zone, %K line is below %D line, which signals a fall of GBP/USD.

The news background on the economy of Britain is calm today.

Trading recommendations

Support levels: 1.25000, 1.24500
Resistance levels: 1.25700

We expect further growth of GBP/USD. We recommend looking for entry points to the market to open long positions. The movement is tending potentially to 1.26000.

Forecast for USD/CAD

Technical indicators of the currency pair:

Prev Opening: 1.33256
Opening: 1.32480
Chg. % Of the last day: -0.54
The daily range: 1.32225 – 1.32576
52-week range: 1.2458 – 1.4692

Yesterday, the Bank of Canada kept its monetary policy at the same level. The head of the Central Bank said that in the near future, interest rates will not be reduced. The Canadian dollar added more than 75 points. The currency pair found support at around 1.32250.

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The MACD histogram is located in the negative zone and continues to decline, which indicates a further fall in the USD/CAD currency pair.

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

There are no important economic reports from Canada today. Nevertheless, we recommend that you pay attention to the following statistics:
– sales in the manufacturing sector (15:30 GMT+3:00);
– the index of prices for new housing (15:30 GMT+3:00).
                  
Trading recommendations

Support levels: 1.32250
Resistance levels: 1.32850, 1.33150

We expect a further decline in the USD/CAD currency pair. The movement is tending potentially to 1.32000-1.31750.                                      

Forecast for the USD/JPY currency pair

Technical indicators of the currency pair:

Prev Opening: 110.918
Opening: 109.013
Chg. % Of the last day: -0.54
Daily range: 108.719 – 109.246
52-week range: 99.08 – 123.69

At the moment, the demand for the yen is at a fairly high level. Since the beginning of this week, USD/JPY has fallen by more than 200 points. The key levels of support and resistance are 108.750 and 109.400 respectively. Geopolitical risks in the Middle East support safe assets.

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The MACD histogram has fixed in the negative zone, but above the signal line, which gives a weak signal to sell USD/JPY.

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

It is necessary to pay attention to the news background from the USA.

Trading recommendations

Support levels: 108.750
Resistance levels: 109.400, 110.200

Yesterday’s forecast was confirmed. We believe that the yen’s growth may continue. We recommend selling USD/JPY to the level of 108.500.