{"id":165750,"date":"2020-03-02T08:15:24","date_gmt":"2020-03-02T13:15:24","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=165750"},"modified":"2020-03-02T07:07:26","modified_gmt":"2020-03-02T12:07:26","slug":"the-analytical-overview-of-the-main-currency-pairs-on-2020-03-02","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/03\/the-analytical-overview-of-the-main-currency-pairs-on-2020-03-02\/","title":{"rendered":"The Analytical Overview of the Main Currency Pairs on 2020.03.02"},"content":{"rendered":"<div id=\"inves-3679224562\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 2, 2020<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>by <a href=\"https:\/\/justforex.com\/?utm_source=countingpips&amp;utm_medium=article&amp;utm_campaign=analytics_market_overview\" target=\"_blank\" rel=\"noopener noreferrer\">JustForex<\/a><\/strong><\/p>\n<div class=\"ag-analytics-block__daily-forecast\">\n<h2 class=\"ag-analytics_title\">The EUR\/USD currency pair<\/h2>\n<div class=\"ag-analytics_list-title\">Technical indicators of the currency pair:<\/div>\n<ul class=\"ag-analytics_list\">\n<li class=\"ag-analytics_item\">Prev Open: 1.10002<\/li>\n<li class=\"ag-analytics_item\">Open: 1.10416<\/li>\n<li class=\"ag-analytics_item\">% chg. over the last day: +0.24<\/li>\n<li class=\"ag-analytics_item\">Day&#8217;s range: 1.10363 \u2013 1.10738<\/li>\n<li class=\"ag-analytics_item\">52 wk range: 1.0879 \u2013 1.1572<\/li>\n<\/ul>\n<p class=\"ag-analytics_text\">The EUR\/USD currency pair is still dominated by a bullish sentiment. The quotes have updated the local highs again. The demand for USD has decreased significantly. Financial markets participants expect the Fed to reduce the range of key interest rates to 1.00-1.25% at the next meeting on March 18. At the moment the trading instrument is consolidating in the range of 1.10100-1.10700. The EUR can recover further. We are waiting for important statistical data today. Positions should be opened from key levels.<\/p>\n<p class=\"ag-analytics_text\">The Economic News Feed for 02.03.2020:<\/p>\n<ul>\n<li class=\"ag-analytics_item\">&#8211; business activity index in German manufacturing sector &#8211; 10:55 (GMT+2:00);<\/li>\n<li class=\"ag-analytics_item\">&#8211; ISM&#8217;s business activity index in the US manufacturing sector &#8211; 17:00 (GMT+2:00).<\/li>\n<\/ul>\n<figure class=\"ag-analytics_img-box\"><a class=\"lightbox\" href=\"https:\/\/justforex.com\/uploads\/category-analytics-page\/daily-forecast\/eurusd-2020-03-02.jpg\" rel=\"chapter\"> <img decoding=\"async\" class=\"ag-analytics_img\" src=\"https:\/\/justforex.com\/uploads\/category-analytics-page\/daily-forecast\/eurusd-2020-03-02.jpg\" alt=\"EUR\/USD\" \/> <\/a><\/figure>\n<p class=\"ag-analytics_text\">The indicators signal the strength of buyers: the price has fixed above 50 MA and 100 MA.<\/p>\n<p class=\"ag-analytics_text\">MACD histogram is in the positive zone, which gives a signal to buy EUR\/USD.<\/p>\n<p class=\"ag-analytics_text\">The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the development of a correction movement.<\/p>\n<div class=\"ag-analytics_title\">Trading recommendations<\/div>\n<ul class=\"ag-analytics_list\">\n<li class=\"ag-analytics_item\">Support levels: 1.10100, 1.09600, 1.09100<\/li>\n<li class=\"ag-analytics_item\">Resistance levels: 1.10700, 1.11000<\/li>\n<\/ul>\n<p class=\"ag-analytics_text\">If the price fixes above 1.10700, expect further growth to 1.11000-1.11200.<\/p>\n<p class=\"ag-analytics_text\">Alternatively, the quotes could descend toward 1.09700-1.09500.<\/p>\n<\/div>\n<div class=\"ag-analytics-block__daily-forecast\">\n<h2 class=\"ag-analytics_title\">The GBP\/USD currency pair<\/h2>\n<div class=\"ag-analytics_list-title\">Technical indicators of the currency pair:<\/div>\n<ul class=\"ag-analytics_list\">\n<li class=\"ag-analytics_item\">Prev Open: 1.28811<\/li>\n<li class=\"ag-analytics_item\">Open: 1.27878<\/li>\n<li class=\"ag-analytics_item\">% chg. over the last day: -0.13<\/li>\n<li class=\"ag-analytics_item\">Day&#8217;s range: 1.27830 \u2013 1.28507<\/li>\n<li class=\"ag-analytics_item\">52 wk range: 1.1959 \u2013 1.3516<\/li>\n<\/ul>\n<p class=\"ag-analytics_text\">Sales dominate on the GBP\/USD currency pair. Sterling has set new key lows. At the moment, GBP\/USD is consolidating near the mirror resistance at 1.28550. The round level 1.28000 is the nearest support. The trading instrument can decline further. Investors are waiting for important economic releases from the UK and USA. Positions should be opened from key levels.<\/p>\n<p class=\"ag-analytics_text\">At 11:30 (GMT+2:00) UK will publish an index of business activity in the manufacturing sector.<\/p>\n<figure class=\"ag-analytics_img-box\"><a class=\"lightbox\" href=\"https:\/\/justforex.com\/uploads\/category-analytics-page\/daily-forecast\/gbpusd-2020-03-02.jpg\" rel=\"chapter\"> <img decoding=\"async\" class=\"ag-analytics_img\" src=\"https:\/\/justforex.com\/uploads\/category-analytics-page\/daily-forecast\/gbpusd-2020-03-02.jpg\" alt=\"GBP\/USD\" \/> <\/a><\/figure>\n<p class=\"ag-analytics_text\">The indicators signal the sellers&#8217; strength: the price has fixed below 50 MA and 100 MA.<\/p>\n<p class=\"ag-analytics_text\">The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP\/USD.<\/p>\n<p class=\"ag-analytics_text\">The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish sentiment.<\/p>\n<div class=\"ag-analytics_title\">Trading recommendations<\/div>\n<ul class=\"ag-analytics_list\">\n<li class=\"ag-analytics_item\">Support levels: 1.28000, 1.27300<\/li>\n<li class=\"ag-analytics_item\">Resistance levels: 1.28550, 1.29000, 1.29400<\/li>\n<\/ul>\n<p class=\"ag-analytics_text\">If the price fixes below the round level of 1.28000, expect a descend toward 1.27500-1.27000.<\/p>\n<p class=\"ag-analytics_text\">Alternatively, the quotes could recover toward 1.29000-1.29400.<\/p>\n<\/div>\n<div class=\"ag-analytics-block__daily-forecast\">\n<h2 class=\"ag-analytics_title\">The USD\/CAD currency pair<\/h2>\n<div class=\"ag-analytics_list-title\">Technical indicators of the currency pair:<\/div>\n<ul class=\"ag-analytics_list\">\n<li class=\"ag-analytics_item\">Prev Open: 1.33906<\/li>\n<li class=\"ag-analytics_item\">Open: 1.34332<\/li>\n<li class=\"ag-analytics_item\">% chg. over the last day: +0.11<\/li>\n<li class=\"ag-analytics_item\">Day&#8217;s range: 1.33334 \u2013 1.34382<\/li>\n<li class=\"ag-analytics_item\">52 wk range: 1.2949 \u2013 1.3566<\/li>\n<\/ul>\n<p class=\"ag-analytics_text\">USD\/CAD quotes have moved down. The CAD has updated local lows. The Canadian dollar is supported by the oil price recovery after a prolonged decline. At the moment the trading instrument is consolidating. The key support and resistance levels are: 1.33350 and 1.33900, respectively. The USD\/CAD currency pair has a potential for further correction. We recommend you to pay attention to the US economic reports. Positions should be opened from key levels.<\/p>\n<p class=\"ag-analytics_text\">The news background on the Canadian economy is calm.<\/p>\n<figure class=\"ag-analytics_img-box\"><a class=\"lightbox\" href=\"https:\/\/justforex.com\/uploads\/category-analytics-page\/daily-forecast\/usdcad-2020-03-02.jpg\" rel=\"chapter\"> <img decoding=\"async\" class=\"ag-analytics_img\" src=\"https:\/\/justforex.com\/uploads\/category-analytics-page\/daily-forecast\/usdcad-2020-03-02.jpg\" alt=\"USD\/CAD\" \/> <\/a><\/figure>\n<p class=\"ag-analytics_text\">Indicators do not give accurate signals: the price tests 100 MA.<\/p>\n<p class=\"ag-analytics_text\">The MACD histogram is in the negative zone, which indicates a bearish sentiment.<\/p>\n<p class=\"ag-analytics_text\">The Stochastic Oscillator is located in the oversold area, the %K line crosses the %D line. There are no signals at the moment.<\/p>\n<div class=\"ag-analytics_title\">Trading recommendations<\/div>\n<ul class=\"ag-analytics_list\">\n<li class=\"ag-analytics_item\">Support levels: 1.33350, 1.33000, 1.32650<\/li>\n<li class=\"ag-analytics_item\">Resistance levels: 1.33900, 1.34350, 1.34600<\/li>\n<\/ul>\n<p class=\"ag-analytics_text\">If the price fixes below 1.33350, expect further correction toward 1.33000-1.32600.<\/p>\n<p class=\"ag-analytics_text\">Alternatively, the quotes could grow toward 1.34300-1.34600.<\/p>\n<\/div>\n<div class=\"ag-analytics-block__daily-forecast\">\n<h2 class=\"ag-analytics_title\">The USD\/JPY currency pair<\/h2>\n<div class=\"ag-analytics_list-title\">Technical indicators of the currency pair:<\/div>\n<ul class=\"ag-analytics_list\">\n<li class=\"ag-analytics_item\">Prev Open: 109.590<\/li>\n<li class=\"ag-analytics_item\">Open: 107.449<\/li>\n<li class=\"ag-analytics_item\">% chg. over the last day: -1.38<\/li>\n<li class=\"ag-analytics_item\">Day&#8217;s range: 107.361 \u2013 108.371<\/li>\n<li class=\"ag-analytics_item\">52 wk range: 104.45 \u2013 113.53<\/li>\n<\/ul>\n<p class=\"ag-analytics_text\">The USD\/JPY has stabilized after a significant drop last week. At the moment the quotes are consolidating. Local support and resistance levels are at 107.850 and 108.500, respectively. Technical correction of the trading instrument is not ruled out in the nearest future. We recommend you to pay attention to the dynamics of US government securities yield. Positions should be opened from key levels.<\/p>\n<p class=\"ag-analytics_text\">The news background on Japanese economy is calm.<\/p>\n<figure class=\"ag-analytics_img-box\"><a class=\"lightbox\" href=\"https:\/\/justforex.com\/uploads\/category-analytics-page\/daily-forecast\/usdjpy-2020-03-02.jpg\" rel=\"chapter\"> <img decoding=\"async\" class=\"ag-analytics_img\" src=\"https:\/\/justforex.com\/uploads\/category-analytics-page\/daily-forecast\/usdjpy-2020-03-02.jpg\" alt=\"USD\/JPY\" \/> <\/a><\/figure>\n<p class=\"ag-analytics_text\">The indicators signal the sellers&#8217; strength: the price has fixed below 50 MA and 100 MA.<\/p>\n<p class=\"ag-analytics_text\">The MACD histogram is in the negative zone but above the signal line, which gives a weak signal to sell USD\/JPY.<\/p>\n<p class=\"ag-analytics_text\">The Stochastic Oscillator is located in the overbought zone, the %K line has crossed the %D line. There are no signals at the moment.<\/p>\n<div class=\"ag-analytics_title\">Trading recommendations<\/div>\n<ul class=\"ag-analytics_list\">\n<li class=\"ag-analytics_item\">Support levels: 107.850, 107.350, 107.000<\/li>\n<li class=\"ag-analytics_item\">Resistance levels: 108.500, 109.300, 109.650<\/li>\n<\/ul>\n<p class=\"ag-analytics_text\">If the price fixes above 108.500, expect the quotes to correct toward 109.000-109.500.<\/p>\n<p class=\"ag-analytics_text\">Alternatively, the quotes could decline toward 107.000.<\/p>\n<\/div>\n<p><strong>by <a href=\"https:\/\/justforex.com\/?utm_source=countingpips&amp;utm_medium=article&amp;utm_campaign=analytics_market_overview\" target=\"_blank\" rel=\"noopener noreferrer\">JustForex<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>by JustForex The EUR\/USD currency pair Technical indicators of the currency pair: Prev Open: 1.10002 Open: 1.10416 % chg. over the last day: +0.24 Day&#8217;s range: 1.10363 \u2013 1.10738 52 wk range: 1.0879 \u2013 1.1572 The EUR\/USD currency pair is still dominated by a bullish sentiment. The quotes have updated the local highs again. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-165750","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=165750"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165750\/revisions"}],"predecessor-version":[{"id":165751,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165750\/revisions\/165751"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=165750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=165750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=165750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}