InvestMacro

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading above 1.1211; it is forming a new consolidation range around 1.1233 and may move to reach the target at 1.1257. Possibly, today the pair may form a new descending structure towards 1.1216 and then start another growth to reach 1.1257. Later, the market may be corrected to return to 1.1211 and then resume growing with the target at 1.1289.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has finished the first ascending impulse along with the correction; right now, it is still consolidating. If later the price breaks the range to the upside, the instrument may continue the correction with the short-term target at 1.3073; if to the downside – form a new descending structure towards 1.2956.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has reached the target of the third descending wave. Today, the pair may be corrected towards 1.0157. After that, the instrument may form a new descending structure with the target at 1.0080.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating near the lows. If later the price breaks the range to the upside, the instrument may start a new correction with the target at 110.61; if to the downside – continue falling towards 108.98.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.6996. Possibly, today the pair may fall to reach 0.6950 and start a new growth to return to 0.6996.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is moving upwards; it has broken 65.30 and may continue growing to reach 66.01. Today, the pair may reach this level and then start a new decline to break 64.85. Later, the market may continue trading inside the downtrend with the target at 62.77.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1284.24. If later the price breaks the range to the downside, the instrument may resume trading inside the downtrend with the target at 1277.01; if to the upside – form one more ascending structure towards 1293.30.

BRENT

Brent has broken 70.70 and may continue growing to break 72.30. If later the price breaks this level to the upside, the instrument may resume trading inside the uptrend with the target at 76.50. However, if the pair breaks 70.70 to the downside, the market may continue the correction to reach 68.00.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

The H4 chart of XAUUSD shows the correction that started after the convergence. By now, it has already reached the retracement of 23.6%. The next upside targets may be the retracements of 38.2%, 50.0%, and 61.8% at 1296.89, 1306.46, and 1315.96 respectively. If the price breaks the low at 1266.23, the instrument may continue falling towards the mid-term retracement of 61.8% at 1253.80.

As we can see in the H1 chart, the divergence made the pair start a new short-term correction, which has already reached the retracement of 38.2%. The next downside targets may be the retracements of 50.0%, 61.8%, and 76.0% at 1278.82, 1275.87, and 1272.33 respectively. If the price breaks the high at 1291.46, the instrument may continue its mid-term correction.

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is still trading downwards; it has already reached the retracement of 38.2%. The next downside targets may be the retracements of 50.0% and 61.8% at 1.0065 and 1.0025 respectively. After completing the correction and breaking the previous high at 1.0236, the instrument may continue growing to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.0246 and 1.0306 respectively.

As we can see in the H1 chart, there is a divergence on MACD, which may indicate a possible pullback. The targets of this pullback may be the retracements of 23.6, 38.2%, and 50.0% at 1.0116, 1.0134, and 1.0149 respectively. The support is the low at 1.0087.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

• Prev Open: 1.12128
• Open: 1.12299
• % chg. over the last day: +0.12
• Day’s range: 1.12271 – 1.12407
• 52 wk range: 1.1111 – 1.2009

EUR/USD is relatively in balance against the USD. The EUR/USD quotes are consolidating. The local support and resistance levels are 1.12150 and 1.12400. The trading conflict between Washington and Beijing remains in the spotlight. Last week Donald Trump increased the fees on the Chinese wares worth more than 200 billion USD from 10% to 25%. The market hasn’t reacted yet, there hasn’t been any response from China either. The investors are waiting on more intel regarding this. EUR/USD has a tendency for further growth. You should open positions from the key levels.

The Economic News Feed for 13.05.2019 is calm.

The price fixed above 50 MA and 200 MA which points to the power of the buyers.

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

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which points towards a bullish mood.

• Support levels: 1.12150, 1.11850, 1.11650
• Resistance levels: 1.12400, 1.12600

If the price fixes above 1.12400, expect further growth of EUR/USD toward 1.12600-1.12800.

Alternatively, the quotes can fall toward 1.11900-1.11700.

The GBP/USD currency pair

• Prev Open: 1.30126
• Open: 1.29926
• % chg. over the last day: -0.12
• Day’s range: 1.29926 – 1.30166
• 52 wk range: 1.2438 – 1.3631

GBP/USD keeps moving sideways without a defined trend. The key support and resistance levels are 1.29800 and 1.30400. The financial market participants are doubting that Theresa May won’t be able to reach a consensus with the opposition to leave the EU. The GBP/USD quotes have a tendency to descend. You should open positions from the key levels.

The Economic News Feed for 13.05.2019:

The indicators do not provide precise signals, the price has crossed 50 MA.

The MACD histogram is close to 0.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points towards a bearish mood.

• Support levels: 1.29800, 1.29400, 1.29100
• Resistance levels: 1.30400, 1.30800, 1.31300

If the price fixes below 1.29800, expect further descend toward 1.29400-1.29100.

Alternatively, the quotes can recover toward 1.30800-1.31000.

Registration The USD/CAD currency pair

• Prev Open: 1.34646
• Open: 1.34208
• % chg. over the last day: -0.48
• Day’s range: 1.34162 – 1.34453
• 52 wk range: 1.2727 – 1.3664

On Friday USD/CAD had some agressive sales and updated the local minimums. The demand for CAD has grown after a positive Canadian labour market report. USD/CAD quotes are consolidating around 1.34150-1.34450. USD/CAD has a tendency to descend. The positions should be opened from the key levels. You should keep an eye on the oil quotes dynamics.

The Economic News Feed for 13.05.2019 is calm.

The indicators do not provide precise signals, 50 MA has crossed 200 MA.

The MACD histogram is in the negative zone but above the signal line which gives a weak signal to sell USD/CAD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points towards a bearish mood.

• Support levels: 1.34150, 1.33800
• Resistance levels: 1.34450, 1.34750, 1.35000

If the price fixes below 1.34150, expect further descend toward 1.33800-1.33600.

Alternatively, the qutoes can grow toward 1.34750-1.34900.

The USD/JPY currency pair

• Prev Open: 109.742
• Open: 109.760
• % chg. over the last day: +0.16
• Day’s range: 109.597 – 109.836
• 52 wk range: 104.97 – 114.56

USD/JPY keeps consolidating after a long fall since the beginning of the month. There is no defined trend. The key support and resistance levels are 109.500 and 110.000. The demand for the safe assets remains high after the escalation of the US/China trading conflict. The instrument has a tendency to descend. You should open positions from the key levels.

The Economic News Feed for 13.05.2019 is calm.

The indicators do not provide precise signals, the price has crossed 50 MA.

The MACD histogram is in the negative zone and below the signal line which gives a strong signal to sell USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points to the bearish mood.

• Support levels: 109.500, 109.000
• Resistance levels: 110.000, 110.300, 110.650

If the price fixes below 109.500, expect further descend toward 109.300-109.000.

Alternatively, the quotes can recover toward 110.300-110.500.

by JustForex

By TheTechnicalTraders.com

It is becoming evident that the US/Chinese trade issues are going to become a point of contention for the markets going forward.  We’ve been review as much news as possible in an attempt to build a consensus for the future of the US markets and global markets.  As of last week, it appears any potential trade deal with China has reset back to square one.  The news we are reading suggests that China wants to reset their commitments with the US, remove all tariffs and wants the US to commit to buying certain levels of Chinese goods in the future.  Additionally, China has yet to commit to stopping the IP/Technology theft from US companies – which is a very big contention for the US.

This suggests the past 6+ months of trade talks have completely broken down and that this trade issue will likely become a market driver over the next 12+ months.  The global markets had anticipated a deal to be reached by the end of March 2019.  At that time, Trump announced that he was extending talks with China without installing any new tariffs.  The intent was to show commitment with China to reach a deal at that time – quickly.

It appears that China had different plans – the intention to delay and ignore US requests.  It is very likely that China has worked to secure some type of “plan B” type of scenario over the past 6+ months and they may feel they are negotiating from a position of power at this time.  Our assumption is that both the US and China feel their interests are best served by holding their cards close to their chests while pushing the other side to breakdown through prolonged negotiations.

Our observations are that an economic shift is continuing to take place throughout the globe that may see these US/China trade issues become the forefront issue over the next 12 to 24 months – possibly lasting well past the November 2020 US Presidential election cycle.  It seems obvious that China is digging in for a prolonged negotiation process while attempting to hold off another round of tariffs from the US.  Additionally, China is dealing with an internal process of trying to shift away from “shadow banking” to eliminate the risks associated with unreported corporate and private debt issues.

The limited, yet still valid, resources we have from within China are suggesting that layoffs are very common right now and that companies are not hiring as they were just a few months ago. One of our friends/sources suggested the company he worked for has been laying off employees for over 30 days now and he just found out he was laid-off last week.  He works in the financial field.

We believe the long term complications resulting from a prolonged US/China trade war may create a foundational shift within the global markets over the next 16 to 24+ months headed into the November 2020 US Elections.  We’ve already authored articles about how the prior 24 months headed into major US elections tend to be filled with price rotation while an initial downside price move is common within about 16+ months of a major US election event.  This year may turn out to prompt an even bigger price rotation.

US Stock Market volatility just spiked to levels well above 20 – levels not seen since October/November 2018, when the markets fell nearly 20% before the end of 2018.  The potential for increased price volatility over the next 12+ months seems rather high with all of the foreign positioning and expectations that are milling around.  It seems like the next 16+ months could be filled with incredibly high volatility, price rotation and opportunity for skilled traders.

Our primary concern is that the continued trade war between the US and China spills over into other global markets as a constricted price range based trading environment.  Most of the rest of the world is still trying to spark some increased levels of economic growth after the 2008-09 market crisis.  The current market environment does not settle well for investor confidence, growth, and future success.  The combination of a highly contested US Presidential election, US/China trade issues, a struggling general foreign market, currency fluctuations attempting to mitigate capital risks and other issues, it seems the global stock markets are poised for a very big increase in volatility and price rotation over the next 2 years or so.

Our first focus is on the Hang Seng Index.  This Weekly chart shows just how dramatic the current price rotation has been over the past few weeks and how a defined price channel could be setting up in the HSI to prompt a much larger downside objective.  Should continue trade issues persist and should China, through the course of negotiating with the US, expose any element of risk perceived by the rest of the world, the potential for further price contraction is very real.  China is walking a very fine line right now as Trump is pushing issues (trade issues and IP/Technology issues) to the forefront of the trade negotiations.  In our opinion, the very last thing China wants is their dirty laundry, shady deals and political leadership strewn across the global news cycles over the next 24+ months.

The DAX Weekly Index is showing a similar price pattern.  A very clear upper price trend channel which translates into a very clear downside price objective is price continues lower.  Although the DAX is not related directly to the US/China trade negotiations, the global markets are far more interconnected now than ever before.  Any rotation lower in China will likely result in a moderate price decrease in many of the major global market indexes.

As we’ve suggested within our earlier research posts, US election cycles tend to prompt massive price rotations when the election cycles are intense. In our next post PART II of this report, we talk about what happened in the past election cycles reviewing the monthly charts and weekly SP500 index charts which are very telling in what could be about to happen next for the stock market from an investors standpoint.

For active swing traders, you are going to love our daily trading analysis. On May 1st we talked about the old saying goes, “Sell in May and Go Away!” and that is excactly what is happening now right on queue. In fact, we closed out our SDS position on Thursday for a quick 3.9% profit and our other new trade started Thursday is up 18% already.

Second, my birthday is only three days away and I think its time I open the doors for a once a year opportunity for everyone to get a gift that could have some considerable value in the future.

Right now I am going to give away and shipping out silver rounds to anyone who buys a 1-year, or 2-year subscription to my Wealth Trading Newsletter. I only have 7 left as they are going fast so be sure to upgrade your membership to a longer-term subscription or if you are new, join one of these two plans, and you will receive:

1-Year Subscription Gets One 1oz Silver Round FREE
(Could be worth hundreds of dollars)

2-Year Subscription Gets TWO 1oz Silver Rounds FREE
(Could be worth a lot in the future)

I only have 13 more silver rounds I’m giving away
​​​​​​​so upgrade or join now before its too late!

SUBSCRIBE TO MY TRADE ALERTS AND GET YOUR FREE SILVER ROUNDS!

Happy May Everyone!

Chris Vermeulen – TheTechnicalTraders.com

by JustForex

On Friday, the US dollar fell slightly against a basket of major currencies. The dollar index (#DX) closed in the negative zone (-0.04%). Last week, May 9-10, the 11th round of talks between the US and China on trade disputes took place, which ended without signing an agreement. Donald Trump increased duties on Chinese imports from 10% to 25% $200 billion worth. Vice Premier of the People’s Republic of China, Liu He, announced that China did not intend to cede to the United States. He also said that in response to the raising tariffs from the US, China would take corresponding measures. US President, Donald Trump, believes that the introduction of duties on Chinese goods is fair, and he does not intend to make changes to the current state of affairs. “We are right where we want to be with China,” D. Trump said on Twitter. The President explained: “Remember, they broke the deal with us & tried to renegotiate. We will be taking in Tens of Billions of Dollars in Tariffs from China.”

On Friday, economic data were also published in the UK, US and Canada. Thus, the UK GDP (q/q) rose by 0.5%, as experts expected. The US core consumer price index slowed down to 0.1% (m/m) in April, which was below market expectations of 0.2%. The number of jobs in Canada increased by as much as 106.5K in April, although investors expected growth by only 10.0K. At the same time, the unemployment rate fell to 5.7% from 5.8%.

The “black gold” prices are consolidating. At the moment, futures for the WTI crude oil are testing the mark of $61.90 per barrel.

Market Indicators

On Friday, the bullish sentiment was observed in the US stock market: #SPY (+0.50%), #DIA (+0.57%), #QQQ (+0.12%).

The 10-year US government bonds yield is at 2.42-2.43%.

Today, the publication of important news is not expected. We recommend paying attention to speeches by the FOMC representatives.

by JustForex

By TheTechnicalTraders.com

Today, the US increased tariffs on $200B of Chinese goods as the US/China trade deal breaks down.  China has vowed to retaliate for the move.  The past week has seen the global markets shocked by two items: Iran sanctions and US/China trade breakdown.  The markets had been expecting a US/China trade deal to be reached and optimism was quite high – hence the rally in the Chinese stock market and the rally in the US stock market.  What next?

Well, we believe this news, as well as future news that will likely hit the markets over the next 3+ months, will continue to prompt the Shake-Out we have been warning about.  Depending on how severe these news events are, the rotation in the markets could be quite severe as well.

Our recent analysis suggests that recent lows in the US stock market may be near-term support and that the US stock market may attempt to form a bottom near these lows.  Our research shows the Transportation Index is leading this move.  We believe the ORANGE Moving Average level, as well as the RED and GREY Fibonacci projection points, will act as a temporary price floor this week and next.  The YM could move lower by 100 to 200 points today, retesting these low levels, before recovering near the end of the day.

Gold is showing signs of a potential upside price leg in the early stages, just as we had been suggesting.  Our April 21~24 momentum base call from months ago appears to be incredibly accurate.  At this point, we are just waiting for the upside price swing to begin.  When it starts, the momentum behind this upside move will increase as it will catch the attention of many gold traders and solidify the “fear” aspect of this move.

Silver is still lagging behind Gold – as usual.  We continue to believe the real opportunity for a great trade lies in Silver.  The potential for a $22 o ~$28 upside price swing on a market breakdown or fear play is still very solid.  Headed into the 2020 US election cycle and with all the uncertainty in the global markets, we believe this is the “sleeper trade” of the next 16+ months.  When Gold begins to breakout to the upside, Silver should follow about 20 days later.

These new US trade tariffs puts pressure on China to come to the table and develop and honest deal.  This is not the old way of slow negotiations with no real consequences.  For China, the lack of access to the US market could be devastating in both the short and long run.  Skilled traders should not be overly optimistic throughout this weekend.  Protect your longs and prepare for more news over the next few weeks.  This is the type of market that will make or break many traders.

UNIQUE OPPORTUNITY ONLY IN MAY

On May 1st we talked about the old saying goes, “Sell in May and Go Away!” and that is excactly what is happening now right on queue. In fact, we closed out our SDS position on Thursday for a quick 3.9% profit and our other new trade started Thursday is up 18% already.

Second, my birthday is only a few days away and I think its time I open the doors for a once a year opportunity for everyone to get a gift that could have some considerable value in the future.

Right now I am going to give away and shipping out silver rounds to anyone who buys a 1-year, or 2-year subscription to my Wealth Trading Newsletter. I only have 11 left as they are going fast so be sure to upgrade your membership to a longer-term subscription or if you are new, join one of these two plans, and you will receive:

1-Year Subscription Gets One 1oz Silver Round FREE
(Could be worth hundreds of dollars)

2-Year Subscription Gets TWO 1oz Silver Rounds FREE
(Could be worth a lot in the future)

I only have 13 more silver rounds I’m giving away
​​​​​​​so upgrade or join now before its too late!

SUBSCRIBE TO MY TRADE ALERTS AND GET YOUR FREE SILVER ROUNDS!

Happy May Everyone!

Chris Vermeulen – TheTechnicalTraders.com

Currency Point: Trade review
Closed: Short AUD/USD

Closing out the short call, the spike caused by US-China trade issues pushed pair into the 69c handle as the near-term uncertainty around the further imposition of tariffs hit the AUD.

However, it also now creates upside risk as a ‘deal’ (real or otherwise) will likely cause a spike in the opposite direction – risk.

Secondly, the Fed as expected has held the line around its current position on the Federal Funds rate and maintained its slight hiking bias this in my view is ‘holding’ the USD across the board.

The RBA as expect held off cutting rate at its May meeting something we expected.

However, they are more ‘neutral’ than the market expected and from my view if they are to cut rate it’s not likely to happen until August, which moderates near term moves in the AUD.

Thus, closing out the short call as pair is likely to drift now and should moderate in a tight range of 70-71c. There are better value trades elsewhere.

New idea: Short EUR/JPY
Entry: Y123.7 with a Stop Loss at Y126.00 with a target of Y119.00

Two sides to this trade – first the JPY side and its ‘safe-haven’ position.

JPY will benefit if trade tensions persist and US market volatility continues to shift up as it  has in the past few weeks. In fact, markets generally are ‘underweight’ volatility on the idea central bank policy will save the day. However, the past two weeks has shown that this ‘white knight’ scenario isn’t as ‘certain’ as markets have price in and the potential for increased volatility in the short term needs to be respected – a JPY positive.

Flipping to the EUR side what you might not be aware of is a mid-May deadline related to potential auto tariffs on European exports. If the US was to move on European car
manufactures the EUR will spike lower.

Then there are the general headwinds to the EUR that continue to persist – economic growth remains underwhelming.

Finally, the EUR is clearly being used as a carry trade funding source, several reports over the past month have shown a solid increase in corporate issuance of debt with the EUR a core currency of issuance – EUR negative.

The risk to this trade is the flip side of all stated scenarios, volatility reducing, no tariffs, the Eurozone actually seeing economic growth etc. which is why your stop-loss is core to this trade.

By FPMarkets.com

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After breaking 1.1212 and reaching the target at 1.1248, EURUSD has returned to 1.1212; right now, it is forming one more ascending structure towards 1.1256. Later, the market may resume trading inside the downtrend to return to 1.1212.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has finished the first ascending impulse along with the correction; it has broken the descending channel. Possibly, today the pair may start forming the second rising impulse to reach 1.3058. After that, the instrument may continue falling with the target at 1.3030.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 1.0148. If later the price breaks the range to the upside, the instrument may start a new growth with the target at 1.0170; if to the downside – form a new descending structure towards 1.0116 and then resume growing to reach the above-mentioned target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has reached the downside target; right now, it is moving upwards with the target at 110.21. Later, the market may start another decline towards 109.84 and then form one more ascending structure.to reach 110.61.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.6996. Possibly, today the pair may fall to reach 0.6950 and start a new growth to return to 0.6996.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the correctional structure at 64.87. After the market opening, the pair may break the correctional channel to the upside and form one more ascending structure with the target at 66.02. Later, the market may start another decline towards 64.30.

XAUUSD, “Gold vs US Dollar”

Gold is moving upwards. Today, the pair may reach 1290.30 and then form a new descending structure with the target at 1286.60. After that, the instrument may start another growth to return to 1293.30.

BRENT

Brent is consolidating around 70.30; right now, it is trying to break the range upwards. Possibly, the pair may reach 72.70. If later the price breaks this level to the upside, the instrument may form one more ascending structure with the target at 74.4. However, if the range is broken to the downside, the market may start a new decline towards 67.95 and then resume trading inside the uptrend to reach 76.50.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, BTCUSD is steadily growing towards the long-term retracement of 38.2%. The previous correction was very quick, the same as the new rising impulse, which has already broken the high and reached the post-correctional extension area between the retracements of 138.2% and 161.8%. At the same time, there is a divergence on MACD, which may indicate a possible trend reverse. The support level is at 5643.80.

In the H1 chart, the uptrend is getting closer to reach the retracement of 38.2% at 6430.85. In the short-term, there price may start a pullback towards 6085.00.

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the H4 chart, ETHUSD is forming another rising wave to test the long-term retracement of 23.6%. The main scenario implies that the instrument may break the high at 187.16 and then continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 202.57 and 212.05 respectively. The support level is the local low at 146.70.

In the H1 chart, after finishing the short-term correction, ETHUSD is trading upwards. The closest target is the local low at 180.68. If the price breaks it, the instrument may continue growing to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 178.16 and 191.18 respectively. The local support level is at 163.50.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

• Prev Open: 1.11912
• Open: 1.12128
• % chg. over the last day: +0.25
• Day’s range: 1.12123 – 1.12348
• 52 wk range: 1.1111 – 1.2009

EUR/USD started to grow and updated the local maximums. Yesterday, the US published weak economic reports, including the manufacturer’s price index and the primary jobless claims. Right now the quotes are consolidating around 1.12100-1.12350. The financial market participants are waiting for the final decision regarding the US/China trading conflict. Keep an eye on this issue and open positions from the key levels.

At 15:30 (GMT+3:00) the US will publish an inflation report. Also keep an eye on the statement made by the FOMC representatives.

The price fixed above 50 MA and 200 MA which points to the power of the buyers.

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

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points toward a bearish mood.

• Support levels: 1.12100, 1.11850, 1.11650
• Resistance levels: 1.12350, 1.12600

If the price fixed above 1.12350, expect further growth toward 1.12600-1.12800.

Alternatively, the quotes can descend toward 1.11850-1.11700.

The GBP/USD currency pair

• Prev Open: 1.30059
• Open: 1.30126
• % chg. over the last day: +0.03
• Day’s range: 1.29968 – 1.30204
• 52 wk range: 1.2438 – 1.3631

GBP/USD has an ambiguous technical picture. GBP is moving sideways. The key support and resistance levels are 1.29800 and 1.30400. The investors are waiting for the UK GDP report for the first quarter of 2019. The experts are expecting for the increase in the economic growth soon. Keep an eye on the Brexit situation and open positions from the key levels.

The Economic News Feed for 10.05.2019:

• – GDP Report (UK) – 11:30 (GMT+3:00);
• – Industrial Production Volume (GB) – 11:30 (GMT+3:00);

The indicators do not provide precise signalf, the price has crossed 50 MA.

The MACD histogram is close to 0.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points to the bearish mood.

• Support levels: 1.29800, 1.29400, 1.29100
• Resistance levels: 1.30400, 1.30800, 1.31300

If the price fixes below 1.29800, expect further descend toward 1.29400-1.29100.

Alternatively, the quotes can recover toward 1.30800-1.31000.

Registration The USD/CAD currency pair

• Prev Open: 1.34759
• Open: 1.34646
• % chg. over the last day: -0.10
• Day’s range: 1.34355 – 1.34841
• 52 wk range: 1.2727 – 1.3664

USD/CAD remains ambiguous. The CAD keeps trading in a flat. The local support and resistance levels are 1.34350 and 1.34750. Today Canada will publish important statistic reports which may influence the balance of powers on USD/CAD. Keep an eye on the oil quotes dynamics and open positions from the key levels.

At 15:30 (GMT+3:00) Canada will publish a labour market report.

The indicators do not provide precise signals, the price has crossed 50 MA and 200MA.

The MACD histogram is in the negative zone and above the signal line which gives a weak signal to sell USD/CAD.

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

• Support levels: 1.34350, 1.34100, 1.33800
• Resistance levels: 1.34750, 1.35000, 1.35200

If the price fixes above 1.34750, consider buying USD/CAD. The price will ascend toward 1.35000-1.35300.

Alternatively, the price will descend toward 1.34000.

The USD/JPY currency pair

• Prev Open: 110.074
• Open: 109.742
• % chg. over the last day: -0.24
• Day’s range: 109.623 – 110.050
• 52 wk range: 104.97 – 114.56

USD/JPY stabilized after a long fall since the beginning of the month. The key support and resistance are at 109.500 and 110.000. The demand for safe assets remains high due to the ambiguousness in the US/China trading relationships. The investors are waiting for more news on that subject. Keep an eye on the US Treasury bonds’ yield and open positions from the key levels.

The Economic News Feed for 10.05.2019 is calm.

The indicators do not provide precise signals, the price is consolidating close to 50 MA.

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

The Stochastic Oscillator started to leave the oversold zone, the %K line is above the %D line which points toward a corrective movement..

• Support levels: 109.500, 109.000
• Resistance levels: 110.000, 110.300, 110.650

If the price fixes below 109.500, the quotes are expected to fall toward 109.300-109.000.

Alternatively, the quotes can recover toward 110.300-110.500.

by JustForex