Analytic reviews

USDJPY

The pair is testing the level of 112.70 amid the growing demand for shares in Japan. The pair is also indicating a positive tendency within the short-term uptrend that is visible on the day timeframe after reaching the local maximum.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the 50% level and is growing. Stoch aren’t informative.

Trading recommendations:

Technically, the pair has remained in the short-term uptrend and after passing 112.70 has the potential for a local growth up to 113.25.

GBPUSD

The pair is trading above 1.3015 against the background of the failed Brexit talks. Considering that a number of the world’s most important economic indicators are showing decline, the pair may resume local fall.

The price is below the middle Bollinger band, on the level of SMA 5, but below SMA14. RSI is above the oversold territory and is moving horizontally. Stoch are in the oversold zone.

Trading recommendations:

Sell the pair after is passes 1.3015 with a possible further drop to 1.2920.

GBPUSD

The pair is trading above 1.3080 in expectation of the outcome of the EU leaders’ meeting. If the summit doesn’t result in a comprehensive Brexit agreement, the pair may resume its decline. Only in case of positive news the pair is likely to start growing.

The price is below the middle Bollinger band, below SMA 5, but above SMA 14. RSI is below the level of 50% and is moving down. Stoch are in the oversold zone.

Trading recommendation:

If the EU summit news are negative, sell the pair with a possible target of 1.3000 and then 1.2920. In the opposite scenario, the pair may surge to 1.3200–30.

USDJPY

The pair is trading below 112.15 due to the decreasing tension on the markets, while preserving the short-term uptrend. It may receive support if the market sentiment remains the same and if the Fed monetary policy meeting results in a decision to gradually raise interest rates.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is at the level of 50%. Stoch are moving down.

Trading recommendations:

Buy the pair after it goes above 112.40 with a possible target of 113.00.

AUDUSD

The pair is trading below the level of 0.7150 amid the general consolidation that’s beginning to take shape on all the world’s markets with no exceptions. Investors await the results of the US Congress election. This is likely to immobilize the market players. As for the pair, the Reserve Bank of Australia is not likely to change its monetary policy, while due to the consolidation the pair may reverse downwards following the local growth

The price is above the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the level of 50%, testing it. Stoch are moving down.

Trading recommendations:

Sell the pair after its drop below 0.7110 with a possible target of 0.7085.

AUDUSD

The pair is trading above 0.7100. The Australian currency is still a hostage of the US-China trade war, which will remain a source of pressure for the pair. That’s why we don’t expect any significant growth and recommend selling the pair at its growth.

The price is above the middle Bollinger band, below SMA 5 and SMA 14. RSI is indicating the absence of any definite trend. Stoch aren’t informative.

Trading recommendations:

Sell the pair at its probably growth from 0.7140 or its drop below 0.7100 with possible targets of 0.7100 and 0.7040 respectively.

AUDUSD

The pair is trading below 0.7130. The Reserve Bank of Australia announced that the Australian economy would have growth problems due to the US-China trade war, which indicates that they are not likely to raise the interest rates. Thus, as the Fed will continue doing that, the spread between the rates of the Fed and RBA will keep widening further not in favor of the Australian bank.

The price is above the middle Bollinger band, on the level of SMA5, but above SMA 14. RSI is indicating slower growth. Stoch also confirm that the price’s growth is likely to stall.

Trading recommendations:

The pair may drop to 0.7040 if it passes 0.7110.

USDCHF

The pair is trading above 0.9850 while remaining under pressure as the investors’ risk appetite is decreasing due to the growing concern over the world economy’s not only slowing growth, but even a possible decline.

The price is below the lower Bollinger band, below SMA 5 and SMA 14. RSI is indicating weaker fall. Stoch also confirm that price’s decline is likely to stall.

Trading recommendations:

The pair may correct up to 0.9900. Sell it from this level or after the price passes 0.9850 with a target of 0.9780.

EURUSD

The pair is trading above the level of 1.1500. It received local support due to the partial profit taking amid the closing of short positions. The pair may resume its limited recovery or reverse downwards again.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is passing the level of 50%. Stoch have entered the overbought zone.

Trading recommendations:

If the pair passes 1.1520, it may grow further up to 1.1560. At the same time, if it goes below 1.1500, it may resume its fall and move down to 1.1430.

EURUSD

The pair is trading below 1.1500. It’s affected negatively by the likelihood of escalating debt crisis in Italy and Greece, while the USD positions grow stronger amid the continuing US government bonds rally.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is reversing downwards while still trading flat. Stoch indicate slower growth.

Trading recommendations:

The pair’s inability to rise above 1.1500 may result in its local drop down to 1.1440.