The Analytical Overview Of The Main Currency Pairs - Tuesday, June 30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12166
  • Open: 1.12361
  • % chg. over the last day: +0.17
  • Day's range: 1.12041 – 1.12518
  • 52 wk range: 1.0777 – 1.1494

There is an ambiguous technical pattern on the EUR/USD currency pair. The trading instrument is in a sideways trend. At the moment, the local support and resistance levels are 1.1210 and 1.1250, respectively. The demand for risky assets has been resumed amid signs of global economic recovery. Financial market participants expect a speech by the Fed Chairman. Positions should be opened from key levels.

The Economic News Feed for 2020.06.30:
  • - Consumer price index in the Eurozone at 12:00 (GMT+3:00);
  • - CB consumer confidence index in the US at 17:00 (GMT+3:00).

At 19:30 (GMT+3:00), the Fed Chairman will give a speech.

(Click on image to enlarge)

EUR/USD

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

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

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

Trading recommendations
  • Support levels: 1.1210, 1.1175, 1.1140
  • Resistance levels: 1.1250, 1.1285, 1.1310

If the price fixes below the level of 1.1210, EUR/USD quotes are expected to fall. The movement is tending to 1.1175-1.1140.

An alternative could be the growth of the EUR/USD currency pair to 1.1280-1.1300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23313
  • Open: 1.22995
  • % chg. over the last day: -0.34
  • Day's range: 1.22595 – 1.23170
  • 52 wk range: 1.1466 – 1.3516

The GBP/USD currency pair shows a negative trend. The British pound has set new local lows. Currently, GBP/USD quotes are consolidating in the range of 1.2260-1.2315. The British pound is still under pressure amid weak UK GDP report. A trading instrument has the potential for further decline. Today we recommend paying attention to the news feed on the US economy. Positions should be opened from key 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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