The Analytical Overview of the Main Currency Pairs on 2019.06.06

The EUR/USD currency pair

• Prev Open: 1.12514
• Open: 1.12209
• % chg. over the last day: -0.21
• Day's range 1.12209 – 1.12359
• 52 wk range: 1.1111 – 1.2009

EUR/USD recovered a portion of the losses against the other majors. It is supported by the positive business activity reports in the non-indurstrial sector. At the same time, the ADP report on the labour market was remarkably weak. EUR/USD is consolidating, the local support and resistance are 1.12200 and 1.12500. Today the Central Bank of Europe will announce its decision on the key interest rate. It is expected to preserve the monetary policy at the same levels. Keep an eye on the statementes by the FOMC and CBE representatives and open positions from the key levels.

The Economic News Feed for 06.06.2019:

• - GDP report (EU) – 12:00 (GMT+3:00);
• - Key Interest Rate Announcement (EU) – 14:45 (GMT+3:00);
• - Primary Jobless Clains Report (US) – 15:30 (GMT+3:00);

The indicators do not provide precise signlas, the price fixed between 50 MA and 200 MA.

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

The Stochastic Oscillator is in the overbought zone, the %K line started to cross the %D line. There are no signals right now.

• Support levels: 1.12200, 1.11900, 1.11600
• Resistance levels: 1.12500, 1.12750, 1.13000

If the price fixes above 1.12500, expect further growth towards 1.13000.

Alternatively, the quotes can correct further towards 1.11700-1.11500.

The GBP/USD currency pair

• Prev Open: 1.26988
• Open: 1.26834
• % chg. over the last day: -0.08
• Day's range: 1.26741 – 1.26939
• 52 wk range: 1.2438 – 1.3631

GBP/USD retreated from the local maximums. The demand for the USD recovered after the positive business activity reports. The GBP/USD quotes are consolidating at 1.26750 and 1.27100. The market participants are waiting for relevant data regarding Brexit. Some economists at Reuters expect the GBP to reach a paritet with EUR should the UK leave the EU without an agreement. Open positions from the key levels.

The Economic News Feed for 06.06.2019 is calm.

The indicators do not provide precise signals, the price fixed between 50 MA and 200 MA.

The MACD histogram is in the negative zone, which points to the bearish mood.

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

• Support levels: 1.26750, 1.26400, 1.26100
• Resistance levels: 1.27100, 1.27450

If the price fixes above 1.27100, expect further growth towards 1.27400-1.27600.

Alternatively, the qutoes can descend towards 1.26400-1.26200.

The USD/CAD currency pair

• Prev Open: 1.33923
• Open: 1.34145
• % chg. over the last day: +0.22
• Day's range: 1.34075 – 1.34301
• 52 wk range: 1.2727 – 1.3664

USD/CAD is in a bullish mood. The trading instrument set the new local maximums. The pressure on the CAD is caused by the agressive sales on the oil market. Right now the quotes are consolidating around 1.34000-1.34300 and have prospects for further correction. Expect important economic reports and open positions from the key levels.

At 17:00 (GMT+3:00) Ivey will publish a business activity index for Canada.

The price fixed between 50 MA and 200 MA. There are no signals at the moment.

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

The Stochastic Oscillator is in the oversold zone, the %K line is crossing the %D line. There are no signals at th moment.

• Support levels: 1.34000, 1.33650, 1.33500
• Resistance levels: 1.34300, 1.34600, 1.34850

If the price fixes above 1.34300 expect further correction towards 1.34600-1.34850.

Alternatively, the quotes can descend towards 1.33700-1.33500.

The USD/JPY currency pair

• Prev Open: 108.136
• Open: 108.464
• % chg. over the last day: +0.17
• Day's range: 108.070 – 108.464
• 52 wk range: 104.97 – 114.56

USD/JPY is trading in a flat. There is no single trend. Since the beginning of the month the key levels were 108.000 and 108.450. The demand for the safe assets remain high due to a high tension levels in the world trade. Keep an eye on the US Treasury bonds' yeild. You should open positions from the key levels.

The Economic News Feed for 06.06.2019 is calm.

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

The MACD histogram is close to 0.

The Stochastic Oscillator is in the oversold zone, the %K line iscrossing the %D line. There are no signals.

• Support levels: 108.000, 107.850, 107.500
• Resistance levels: 108.450, 108.850, 109.200

If the price fixes above the round 108.000, expect further descend towards 107.600.

Alternatively, the quotes recover 108.800-109.000.

by JustMarkets, 2019.06.06

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, and/or a guarantee, and/or a forecast of future events.