Analytic reviews

AUDUSD

The pair is trading below the level of 0.7400 while remaining under pressure due to the escalating trade war between the US and China. It may restore its positions thanks to the somewhat increasing demand on risk assets and the profit taking, but most likely it will continue falling if it doesn’t hold above 0.7400.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is below the level of 50% and is indicating the possibility of an upward rebound. Stoch are leaving the oversold zone.

Trading recommendations:

If the price doesn’t pass 0.7400, it may continue falling down to 0.7335.

AUDUSD

The pair is trading above 0.7400 under the pressure of the escalating trade war between the US and China. Due to this the commodity assets are also under pressure which negatively affects the rates of commodity currencies.

The price is below the middle Bollinger band, below SMA 5, but still above SMA 14. RSI is below the level of 50% and is indicating slower decline. Stoch are entering the oversold zone.

Trading recommendations:

If the price passes 0.7400, it may go further down to 0.7335.

EURUSD

The pair is trading below 1.1745 as the German ZEW economic sentiment index data is expected to be released. It is expected to indicate decline. It may put the pair under pressure against the background of the UK government crisis over Brexit.

The price is above the upper Bollinger band, below SMA 5, but still above SMA 14. RSI is above the level of 50% and is indicating the likelihood of a fall. Stoch are moving down.

Trading recommendations:

If the data from Germany turns out to be weaker, the pair may experience a local fall to 1.1685.

EURUSD

The pair is trading above 1.1745 and it’s supported by expectations of the EU and the US reaching the tariff agreement. At the same time, the trade war factor is sill there and today’s speech of Mario Draghi, the president of the ECB, may again remind investors of the regulator’s careful attitude and it may put Euro under pressure.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone. Stoch are also entering the overbought territory.

Trading recommendations:

If the price passes 1.1745, there’s a possibility of a local fall down to 1.1685.

EURUSD

The pair is trading below the level of 1.1720 as the US employment market data is expected to be released. If they are noticeably favorable, a limited pressure for the pair is possible. At the same tine, if they are significantly worse than predicted, the pair may continue moving in uptrend.

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and is moving horizontally. Stoch are also not informative.

Trading recommendations:

If the US data is not favorable and the price passes 1.1720, there’s a chance of a local growth up to 1.1800. However, in case of favorable news, the pair will go down to 1.1620 after passing 1.1680.

EURUSD

The pair is trading above 1.1690, having received support after the release of positive economic statistics data from Germany. But it may change its direction and get under pressure if today’s ADP data and the Fed’s monetary policy meeting minutes are positive for the USD.

The price is above the upper Bollinger line, above SMA 5 and SMA 14. RSI is above the level of 50% and is growing. Stoch are also moving upwards.

Trading recommendations:

If the price passes 1.1690 after the positive data from the US, it may go further down to 1.1600.

USDCAD

The pair is trading on the level of 1.3125 and it’s under pressure due to the increased crude oil prices and the decreased tension concerning trade wars on the world markets.

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

Trading recommendations:

If the price passes 1.3125, it may go further down to 1.3065.

USDCAD

The pair stopped growing as crude oil prices reverse upwards due to the suspension of oil extraction in Libya and to the market’s doubts that Saudi Arabia’s increase in crude oil extraction would lead to its overstocking on the world market.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is trying to reverse downwards. Stoch are moving down.

Trading recommendations:

If the price passes 1.3165, it may go down to 1.3100.

EURUSD

The pair is in downtrend following the significant growth at the end of last week as the agreements on the migrants policy were reportedly reached on the EU summit. The pair is likely to remain within the range of 1.1555–1.1720 today, while moving towards its lower edge.

The price is below the middle Bollinger band, below EMA 5, but still above EMA 13. RSI is testing the level of 50%. Stoch also have reversed downwards.

Trading recommendations:

If the pair passes 1.1635, it may go down to 1.1555.

USDCAD

The prolonged period of consolidation is over for the pair, as the tensions on the world markets decrease, and the Bank of Canada is expected to raise the interest rates after all, while crude oil prices are expected to grow.

The price is below the lower Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone. Stoch have entered the oversold zone.

Trading recommendations:

The pair may correct upwards to 1.3265 but if the positive tendencies on the markets remain, it may resume falling down to 1.3170.