InvestMacro

Analytics by JustForex

The EUR/USD currency pair

• Prev Open: 1.16639
• Open: 1.15958
• % chg. over the last day: -0.60
• Day’s range: 1.15889 – 1.16155
• 52 wk range: 1.0571 – 1.2557

The EUR/USD currency pair is decreasing. On Friday, August 31, the drop in quotes exceeded 70 points. The trading instrument has updated local extremes. At the moment, the EUR/USD currency pair is consolidating near the local support of 1.15900. The key resistance is a mark of 1.16300. The trade conflict between the United States and China is in the focus of attention. The EUR/USD quotes have the potential for further correction. We recommend opening positions from the key levels.

• – The index of economic activity in the manufacturing sector in Germany at 10:55 (GMT+3:00).

The US financial markets are closed due to the holiday.

Indicators point to the power of sellers: the price has fixed below 50 MA and 200 MA.

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

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.

• Support levels: 1.15900, 1.15550, 1.15300
• Resistance levels: 1.16300, 1.16600, 1.16900

If the price fixes below the local support of 1.15900, further correction of the EUR/USD currency pair is expected. The movement is tending to 1.15550-1.15300.

Alternative option. If the price fixes above 1.16300, we recommend considering purchases of EUR/USD. The movement is tending to 1.16600-1.16900.

The GBP/USD currency pair

• Prev Open: 1.30053
• Open: 1.29131
• % chg. over the last day: -0.36
• Day’s range: 1.29032 – 1.29335
• 52 wk range: 1.2361 – 1.4345

The bearish sentiment prevails on the GBP/USD currency pair. Today, the trading instrument has opened with gap down more than 40 points. At the moment, quotes are consolidating in the range of 1.29000-1.29350. We do not rule out a further decline in the GBP/USD currency pair. We recommend following the current news regarding Brexit. Positions should be opened from the key levels.

• – The index of economic activity in the UK manufacturing sector at 11:30 (GMT+3:00).

Indicators do not send accurate signals. The price is testing 200 MA.

The MACD histogram is in the negative zone and continues to decline, which signals a further drop in the GBP/USD quotes.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which signals to sell GBP/USD.

• Support levels: 1.29000, 1.28600, 1.28300
• Resistance levels: 1.29350, 1.29850, 1.30350

If the price fixes below the round level of 1.29000, further fall of the GBP/USD currency pair is expected. The target movement level is 1.28600-1.28300.

Alternative option. If the price fixes above 1.29350, we recommend considering purchases of GBP/USD. The target movement level is 1.29750-1.29900.

The USD/CAD currency pair

• Prev Open: 1.29708
• Open: 1.30722
• % chg. over the last day: +0.45
• Day’s range: 1.30464 – 1.30759
• 52 wk range: 1.2059 – 1.3795

The technical pattern on the USD/CAD currency pair is ambiguous. At the moment, quotes are consolidating. The key support and resistance levels are 1.30500 and 1.30850, respectively. We recommend opening positions from these marks. Investors expect new information regarding the NAFTA negotiations.

Financial markets of Canada are closed due to the holiday.

The price has fixed above 50 MA and 200 MA, which signals the power of buyers.

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

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

• Support levels: 1.30500, 1.30200, 1.29850
• Resistance levels: 1.30850, 1.31000

If the price fixes above the resistance level of 1.30850, the USD/CAD quotes are expected to grow. The movement is tending to 1.31200-1.31400.

Alternative option. If the price fixes below 1.30500, it is necessary to consider sales of USD/CAD. The movement is tending to 1.30200-1.29850.

The USD/JPY currency pair

• Prev Open: 110.965
• Open: 111.051
• % chg. over the last day: +0.05
• Day’s range: 110.850 – 111.118
• 52 wk range: 104.56 – 114.74

The USD/JPY currency pair is in a sideways trend. The technical pattern is ambiguous. At the moment, local support and resistance levels are 110.750 and 111.000, respectively. The trading instrument has the potential for further reduce. We recommend opening positions from the key levels.

Today, the news feed on the economy of Japan is calm.

Indicators do not send accurate signals: 50 MA has crossed 200 MA.

The MACD histogram has moved to the negative zone, which indicates the bearish sentiment.

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

• Support levels: 110.750, 110.450, 110.250
• Resistance levels: 111.000, 111.300, 111.500

If the price fixes below the support level of 110.750, the USD/JPY quotes are expected to fall further. The movement is tending to 110.450-110.250.

Alternative option. If the price fixes above the round level of 111.000, it is necessary to consider purchases of USD/JPY. The movement is tending to 111.300-111.500.

Analytics by JustForex

by JustForex

Last week, trading on currency majors was very active. However, a unidirectional trend was not observed. On Friday, August 31, the dollar index (#DX) moved away from local lows and closed the trading session in the positive zone (+0.42%). Investors continue to assess the risks of trade conflict between the US and China. The United States and Mexico reached an agreement on the North American Free Trade Area (NAFTA). However, negotiations with Canada were fruitless.

Today, trading activity may be reduced due to holidays in the US and Canada. Financial market participants expect meetings of the Reserve Bank of Australia and the Bank of Canada. It is expected that regulators will keep key interest rates at the previous level of 1.50%. On Friday, September 7, the US will publish a report on the labor market, which may have a significant impact on the dynamics of major currency pairs.

Oil quotes are moderately declining. At the moment, futures for the WTI crude oil are testing a mark of $69.75 per barrel.

Market Indicators

On Friday, the major US stock indices showed mixed results: #SPY (0.00%), #DIA (-0.06%), #QQQ (+0.13%).

At the moment, the 10-year US government bonds yield is at the level of 2.86-2.87%.

– The index of economic activity in the manufacturing sector in Germany at 10:55 (GMT+3:00);
– The index of economic activity in the UK manufacturing sector at 11:30 (GMT+3:00).

by JustForex

By Gabriel Ojimadu, Alpari

03.09.2018 – Limassol, Cyprus

RoboForex, an international company that provides its clients from different countries all over the world with brokerage services, is pleased to announce the increase of the leverage value for trading operations involving cryptocurrencies. Starting September 1^st 2018, RoboForex clients will have an opportunity to trade cryptocurrencies with the leverage up to 1:50.

RoboForex is actively expanding the Company’s services and improving trading conditions for its clients. From now on, traders with Pro-Standard, ECN-Pro, and Prime accounts will have an opportunity to trade all available cryptoinstruments with the leverage up to 1:50. The new leverage value is available in MetaTrader 4, MetaTrader 5, and R Trader for 7 cryptocurrencies (Bitcoin, Bitcoin Cash, Dash, EOS, Ethereum, Litecoin, and Ripple). These changes will affect both already open and newly opening positions in cryptocurrencies. Previously, the maximum admissible leverage value ranged from 1:1 to 1:10 depending on the account type.

Denis Golomedov, Chief Marketing Officer at RoboForex, is commenting: “Many of our clients trade cryptocurrencies. It’s really important for them to cooperate with the broker, which provides the most comfortable trading conditions and highest security level when they trade these instruments. The increased leverage will allow our clients to implement a wider range of trading strategies and significantly increase their trading volume.”

About RoboForex

RoboForex is a company, which delivers brokerage services on a world-wide basis. The company provides traders, who work on financial markets, with access to its proprietary trading platforms. RoboForex Ltd has the brokerage license IFSC/60/271/TS/17. More detailed information about the Company’s activities and operations can be found on the official website at www.roboforex.com.

Leading brokerage technology provider Leverate announced it will be collaborating with LPS to secure their clients’ most sensitive data

Cyprus, August 2018 – Leverate Technological Trading has announced a strategic partnership with LPS (Leads Protection System), as part of their ongoing effort to provide their clients with a solution which prioritizes security. Under this partnership, Leverate will integrate the LPS system with the back-office solutions it offers its brokerages.

The first brokerage to successfully implement the LPS system under this collaboration, is Leverate’s own LFS (Leverate Financial Services). With a vast database of traders worldwide, the need for a system that can be easily and quickly integrated into the back-office becomes apparent.

In the world of online Forex, the most valuable asset a brokerage has is its database.  Brokers work hard and spend hefty sums to obtain and retain their leads. However, data theft from hackers, ransomware, competitors, and their very own employees, is prevalent in the industry, and is a cause for many brokers’ downfall. Moreover, GDPR regulations leave no room for mistakes, and the treatment of leads is held to strict standards, which failure to comply with will lead to devastating fines that even top brokerages cannot afford.

By integrating with LPS, Leverate can rest assured that their brokers’ clients have the highest level of protection in all their communication channels. LPS uses PCI DSS security practices, and encryption and tokenization methodology, to put security at the forefront while allowing sales and marketing to prosper. With LPS, the sensitive data of Leverate’s traders goes through their very own private Amazon cloud, securely encrypted, and only the trader has access to his data – even LPS vendors can’t access it. Leverate’s brokers can assure their clients that they are GDPR compliant, and do not have to take other 3rd party measures.

“We’re very pleased that Leverate takes all precautions when it comes to their clients’ brokerages,” says Boaz Gam, CEO of LPS.  “Like any other platform provider, they want to do their utmost to ensure the success of their partners, and in this industry, lead protection is crucial to that.”

“We chose LPS because the system truly is all-encompassing in terms of protecting our client’s leads,” says Natalia Vizir, Chief of Revenue in Leverate. “It seems that LPS thoroughly understands the challenges that are present in the online brokerage business, and have tackled each one of them successfully.”

About LPS

LPS is powered by Payneteasy, today’s leading payment platform provider.  The LPS system is designed to protect leads and sensitive data, so that all communication channels are secured using PCI DSS best security practices. Integration with LPS is fast and efficient, with tailor-made functionality, REST API and widgets that do not require changing of work mode.

About Leverate

Leverate is a leading technology provider in the brokerage industry, with a vast experience in brokerage solutions – both on the technology and services side. Leverate’s innovative solutions and services cover every aspect of a broker’s needs, both back-end and front-end, to enable Forex brokers and financial institutions to minimize risk and maximize profits.

By CountingPips.com – Receive our weekly COT Reports by Email

Here are this week’s links to the latest Commitment of Traders data changes that were released on Friday.

• Currency Speculators raise US Dollar Index bets again, trim Euro & Pound bets
• WTI Crude Oil Speculators raised their bullish positions for 1st time in 4 weeks
• 10-Year Note Speculators sharply cut back on their bearish bets
• Bitcoin Speculators added to their bearish net positions
• Gold Speculators trimmed their bearish net position
• S&P500 Mini Speculators raised their bullish net positions
• Eurodollar Speculators added to bearish bets for 1st time in 7 weeks
• VIX Speculators increased their bearish bets for 7th time out of 8 weeks
• Silver Speculators continue to drive their bets more bearish
• Copper Speculators pushed bets back into small bullish position

Currency Speculators raise US Dollar Index bets again, trim Euro & Pound bets

US Dollar aggregate speculator positions leveled at $23.34 billion as of Tuesday

The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large currency speculators continued to increase their bets in favor of the US Dollar Index this week and bet against the euro and British pound sterling. See full article

WTI Crude Oil Speculators raised their bullish positions for 1st time in 4 weeks

The non-commercial contracts of WTI crude futures totaled a net position of 550,313 contracts, according to data from this week. This was a lift of 11,528 contracts from the previous weekly total. See full article

Gold Speculators trimmed their bearish net position this week

The large speculator contracts of gold futures totaled a net position of -3,063 contracts. This was a weekly advance of 5,647 contracts from the previous week. See full article

10-Year Note Speculators sharply cut back on their bearish bets this week

The large speculator contracts of 10-year treasury note futures totaled a net position of -529,820 contracts. This was a weekly increase of 170,694 contracts from the previous week. See full article

S&P500 Mini Speculators raised their bullish net positions this week

The non-commercial futures contracts of S&P500 Mini futures, traded by large speculators and hedge funds, totaled a net position of 144,469 contracts in the data reported through Tuesday August 28th. See full article

Silver Speculators continue to drive their bets more bearish this week

The non-commercial contracts of silver futures totaled a net position of -16,598 contracts, according to data from this week. This was a weekly fall of -9,440 contracts from the previous totals. See full article

Copper Speculators pushed bets back into small bullish position

The large speculator contracts of copper futures totaled a net position of 291 contracts. This was a weekly boost of 1,990 contracts from the data of the previous week. See full article

Article by CountingPips.com

The Commitment of Traders report data is published in raw form every Friday by the Commodity Futures Trading Commission (CFTC) and shows the futures positions of market participants as of the previous Tuesday (data is reported 3 days behind).

To learn more about this data please visit the CFTC website at http://www.cftc.gov/MarketReports/CommitmentsofTraders/index.htm

Sept 1, 2018 – By CountingPips.com – Get our weekly COT Reports by Email

US Dollar Index Speculator bets rise for 19th week

The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large currency speculators continued to increase their bets in favor of the US Dollar Index this week and bet against the euro and British pound sterling.

The non-commercial futures contracts of US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 34,571 contracts in the data reported through Tuesday August 28th. This was a weekly lift of 449 contracts from the previous week which had a total of 34,122 net contracts.

The speculative position in the Dollar Index futures has improved for nineteen consecutive weeks to the highest overall bullish standing since May 9th of 2017 when the net position totaled 35,749 contracts (a span of 69 weeks).

Aggregate US Dollar Position edges slightly lower this week

An aggregate measure of the US dollar position – the total of US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc – showed that currency speculators slightly edged their overall bets lower to $23.34 billion as of Tuesday August 28th, according to data from the CFTC and dollar amount calculations by Reuters. This was a weekly decline of $-0.33 billion from the $23.67 billion total position that was registered the previous week, according to the Reuters calculation.

The USD aggregate position dipped this week following three straight weeks of gains and fell for just the second time in the past eleven weeks. The current standing is above the +$20 billion level for a sixth consecutive week.

Individual Currency Contract Data this week

Overall, in the individual currency contracts this week, the non-commercial large futures traders, including hedge funds and large speculators, bet in favor of the US Dollar Index (449 weekly change in contracts), Japanese yen (1,365 contracts), Swiss franc (2,474 contracts), Canadian dollar (2,232 contracts), Australian dollar (5,574 contracts) and the New Zealand dollar (1,216 contracts).

The currencies whose speculative bets declined this week versus the dollar were the euro (-2,378 weekly change in contracts), British pound sterling (-4,590 contracts), and the Mexican peso (-6,333 contracts).

See the table and individual currency charts below.

Table of Weekly Commercial Traders and Speculators Levels & Changes:

 

This latest COT data is through Tuesday and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the dollar will gain versus the euro.

 

Weekly Charts: Large Trader Weekly Positions vs Price

EuroFX:

Euro bets dropped for a third week and further into bearish territory. Euro speculator positions are at their worst position since April of 2017

British Pound Sterling:

British pound sterling bets fell for a sixth straight week. The overall speculative position is at the most bearish level since May 2nd 2017 when net positions totaled -81,364 contracts

Japanese Yen:

Japanese yen bearish bets declined for a fifth straight week. Current spec positions are at the least bearish level since July 10th

Swiss Franc:

Swiss franc speculator bets rebounded a bit this week by +2,474 contracts. The overall bearish standing remains above the -40,000 net contract level for a ninth straight week

Canadian Dollar:

Canadian dollar speculator bets rose this week after falling for two weeks in a row. The overall net position, however, has remained above the -20,000 contract level for ten straight weeks and has now been in bearish territory for the past twenty-three weeks

Australian Dollar:

Australian dollar bets improved for a third straight week this week although remain strongly bearish. The overall bearish speculator position fell below the -50,000 contract level for the first time in five weeks

New Zealand Dollar:

New Zealand dollar bearish speculator positions fell for a second straight week this week. The current position has remained above the -20,000 net contract level for the past nine weeks and continues to hang around the most bearish level on record (-26,693 contracts)

Mexican Peso:

Mexican peso speculator positions dropped for a third straight week this week. Despite the declines, the peso continues to remain in bullish speculative territory and is the only non-dollar currency with bullish net contracts

*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

The Commitment of Traders report is published every Friday by the Commodity Futures Trading Commission (CFTC) and shows futures positions data that was reported as of the previous Tuesday (3 days behind).

Each currency contract is a quote for that currency directly against the U.S. dollar, a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and a net long position expect that currency to rise versus the dollar.

(The charts overlay the forex closing price of each Tuesday when COT trader positions are reported for each corresponding spot currency pair.) See more information and explanation on the weekly COT report from the CFTC website.

Article by CountingPips.com

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, BTCUSD is forming a new correction to the upside, which has already reached the retracement of 38.2%. The next possible targets of this ascending correction are the retracements of 50.0% and 61.8% at 7090.00 and 7493.00 respectively. The support level is the low at 5890.00.

In the H1 chart, the pair is finishing the descending correction and may start a new rising impulse. After breaking the high at 7125.60, the instrument may continue trading towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 7261.00 and 7346.00 respectively.

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the H4 chart, ETHUSD is still being corrected upwards and has already reached the retracement of 23.6%. The next upside targets are the retracements of 38.2% and 50.0% at 351.60 and 382.50 respectively. The support level is the low at 250.60.

In the H1 chart, the pair is forming a new ascending impulse. After breaking the high at 297.68, the instrument may continue trading upwards. The possible targets may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 307.60 and 314.00 respectively.

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

EURUSD, “Euro vs US Dollar”

EURUSD is trading towards the first target at 1.1634. Possibly, today the pair may reach it and then grow towards 1.1688. After that, the instrument may start a new descending wave with the target at 1.1530.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating at the top. Today, the price may fall to reach 1.2949 and then start another growth towards 1.2992. Later, the market may resume trading to the downside with the target at 1.2864.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is moving downwards; it has broken its consolidation range downwards and may fall to reach 0.9660. After that, the instrument may form a new ascending structure with the first target at 0.9777.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is forming the third descending wave. Today, the price may fall towards 110.68 and then start another correction to reach 111.27. Later, the market may resume trading to the downside with the target at 110.00.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has reached the target of the descending wave; right now, it is consolidating to break the downside border of the Triangle pattern. If the instrument breaks this pattern to the downside, the price may continue falling inside the downtrend with the target at 0.7160.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 67.64. Possibly, today the pair may rebound from 68.37. The target is at 66.80. If the instrument breaks this range to the downside, the price may continue falling inside the downtrend with the target at 65.75.

XAUUSD, “Gold vs US Dollar”

Gold is moving downwards with the target at 1195.40. Possibly, today the pair may reach it and then grow towards 1200.00. Later, the market may resume trading to the downside to return to 1186.20.

BRENT

Brent is moving upwards. Possibly, the pair may reach 78.98 and start another consolidation range around it. If the instrument breaks this range to the upside, the price may resume growing with the target at 82.00.

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.

Analytics by JustForex

The EUR/USD currency pair

• Prev Open: 1.17060
• Open: 1.16639
• % chg. over the last day: -0.37
• Day’s range: 1.16596 – 1.16901
• 52 wk range: 1.0571 – 1.2557

The EUR/USD currency pair is consolidating. A unidirectional trend is not observed. At the moment, the key levels of support and resistance are: 1.16600 and 1.17000 respectively. In the near future, a technical correction after a prolonged rally over the past two weeks is not ruled out. We recommend opening positions from the key levels.

• – The consumer price index in the Eurozone at 12:00 (GMT+3:00).

Indicators do not send accurate signals. The price has crossed 50 MA.

The MACD histogram is located near the 0 mark.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.

• Support levels: 1.16600, 1.16200, 1.15900
• Resistance levels: 1.17000, 1.17300

If the price fixes above the round level of 1.17000, further growth of the EUR/USD currency pair is expected. The movement is tending to 1.17300-1.17500.

Alternative option. If the price fixes below the 1.16600 mark, we recommend considering sales of EUR/USD. The movement is tending to 1.16200-1.16000.

The GBP/USD currency pair

• Prev Open: 1.30244
• Open: 1.30053
• % chg. over the last day: -0.12
• Day’s range: 1.29929 – 1.30251
• 52 wk range: 1.2361 – 1.4345

The GBP/USD has stabilized near the round of 1.30000. At the moment, the quotes are consolidating. The key range is 1.29850-1.30350. The technical pattern indicates the possibility of further recovery of the pound’s rate. Positions must be opened from the key levels. We recommend you to keep track of the current information regarding the Brexit process.

Today, the news feed on the UK economy is calm.

The price has fixed above 50 MA and 200 MA, which signals the power of buyers.

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

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

• Support levels: 1.29850, 1.29350, 1.29000
• Resistance levels: 1.30350, 1.30600

If the price fixes above the 1.30350 mark, further growth of the GBP/USD currency pair is expected. The target level of movement is 1.30600-1.30750.

Alternative option. If the price fixes below the local support of 1.29850, we recommend considering sales of GBP/USD. The target level of movement is 1.29400-1.29200.

The USD/CAD currency pair

• Prev Open: 1.29077
• Open: 1.29708
• % chg. over the last day: +0.64
• Day’s range: 1.29593 – 1.30230
• 52 wk range: 1.2059 – 1.3795

Yesterday the bullish sentiment prevailed on the USD/CAD currency pair. The growth of quotations exceeded 70 points. This is due to the release of weak data on Canada’s GDP. Today, the Canadian dollar continued to lose ground. At the moment, the USD/CAD quotations are consolidating. The key range is 1.29850-1.30200. The trading instrument is tending to grow.

Today, the news feed on Canada’s economy is calm.

The price has fixed above 50 MA and 200 MA, which signals the power of buyers.

The MACD histogram is in the positive zone and above the signal line, which indicates the bullish sentiment.

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

• Support levels: 1.29850, 1.29500, 1.29000
• Resistance levels: 1.30200, 1.30500, 1.30850

If the price fixes above the local resistance of 1.30200, further growth of the USD/CAD quotes is expected. The movement is tending to 1.30500-1.30850.

Alternative option. If the price fixes below 1.29850, it is necessary to consider selling USD/CAD. The movement is tending to 1.29500-1.29300.

The USD/JPY currency pair

• Prev Open: 111.691
• Open: 110.965
• % chg. over the last day: -0.59
• Day’s range: 110.695 – 111.135
• 52 wk range: 104.56 – 114.74

The bearish sentiment prevails on the USD/JPY currency pair. During yesterday’s and today’s trading, the drop in quotations was almost 100 points. The trading instrument has updated local extremes. At the moment, USD/JPY is testing the “mirror” support of 110.700. The 110.950 marks the nearest resistance. The USD/JPY quotes is tending to decline.

Ambiguous economic reports were published in the Asian trading session.

Indicators point to the power of sellers: the price has fixed below 50 MA and 200 MA.

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

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which indicates a fall in USD/JPY.

• Support levels: 110.700, 110.450, 110.250
• Resistance levels: 110.950, 111.150, 111.500

If the price fixes below the support level of 110.700, the USD/JPY quotes are expected to fall further. The movement is tending to 110.450-110.250.

Alternative option. If the price fixes above the 110.950 level, one should consider buying USD/JPY. The movement is tending to 111.150-111.400.

Analytics by JustForex