Analytic reviews

EURUSD

The pair is trading above the support line of 1.1825 after yesterday’s fall against the backdrop of the USD’s sharp growth on the exchange markets that was triggered by the steep increase in the US government bonds yield.

The price is below the middle line of the borders of Bollinger bands, below EMA 5 and EMA 13. RSI is attempting to reverse upwards. Stochastic oscillators are in the oversold zone and aren’t informative.

Trading recommendations:

Sell the pair after it’s gone below 1.2825 with a possible further decline to 1.1735.

EURUSD

The pair is trading above the support level of 1.1900–05. If the eurozone GDP data is weaker than predicted, the pair will be expected to go down, and even further down if the US data is positive. At the same time, if the GDP figures are strong, the pair will be able to return to the upward trend.

The pair is on the middle line of the borders of Bollinger bands, below EMA 5 and EMA 13. RSI is reversing upwards. Stochastic oscillators are in the oversold zone.

Trading recommendations:

Sell the pair when it’s down below 1..900–05 with a possible target of 1.1835. However, in case of favorable news, it may go up to 1.2000.

USDCAD

The pair is trading above the support level of 1.2750 against the background of the tension between the US and Iran in the Middle East. It will likely encourage the growth of crude oil prices and support the rate of Canada’s currency.

The price is below the middle line of the borders of Bollinger lines, below EMA 5 and EMA 13. RSI is reversing downwards. Stochastic oscillators suggest selling the pair.

Trading recommendations:

Sell the pair after it’s gone below 1.2750 with a possible target of 1.2670–75.

USDCAD

The pair has fallen to the support level of 1.2750 amid the oil price surge that happened after the US withdrew from the Iran nuclear deal. The price resides below the lower line of the Bollinger band borders, lower than EMA 5 and EMA 13. RSI is moving horizontally. Stoch signal a possible continuation of the fall.

Trading recommendations: If the oil price begins a correction, the pair may rise up to 1.2815. At the same time, a rise will cause the pair to continue falling down to 1.2675 once the level of 1.2750 is breached.

USDCAD

The pair has fallen down to the support level amid the recent crude oil price surge due to the tensions between the US and Iran and the possibility of new sanctions, which may lead to reduced oil flow to the world market.

The price resides below the lower Bollinger band, lower than EMA 5 and EMA 13. RSI signals that the fall has slowed down. 

Trading recommendations: 

If the pair manages to breach the 1.2810 level, there is a possibility it will fall locally to 1.2750.

EURUSD

The pair is consolidating above the 1.1900 level. Investors keep analyzing the probability of ECB deciding to cut stimulus measures in June. It is expected that the pair will remain within the range before then, but its fall may be accelerated by the rising probability of the interest rate hike by Fed. during the June meeting. The price resides below than the lower Bollinger band, lower than EМА 5 and ЕМА 13. RSI is moving horizontally. Stoch reversed upwards.

Trading recommendations: If the pair manages to breach the 1.1900 level, it is may suffer a local fall to 1.1800.

EURUSD

The pair is consolidating inside a narrow range awaiting for the US Payroll data. It can be assumed that strong data can lead to a slight fall.

The price is lower than the lower Bollinger band, at the EMA 5 and EMA 13 levels. RSI is moving horizontally. Stoch are rising.

Trading recommendations: 

The pair can go down to 1.1900 amid a strong US April Payroll data.
 
 

EURUSD

The pair remains under a great deal of pressure as it is becoming more evident that ECB will not be changing the monetary policy this year. Strengthening of the US economy and the interest rate hike only add to the situation.

The price resides below the lower line of the Bollinger bands, higher than EMA 5, but lower than EMA 13. RSI is reversing downwards again. Stoch are non-informative.

Trading recommendations: 

The pair may return to 1.2015. However, if today's EU consumer inflation data turns out to be weak, a negative effect will take place, pushing the pair down to 1.1900-15.

EURUSD

The pair has fallen down to the target level of 1.2075 and keeps falling. It’s under pressure as the ECB is no longer expected to abandon the economic stimulus measures. The strong US economic statistics data released yesterday supports the USD.

The price is below the lower line of the borders of Bollinger lines, below EMA 5 and EMA 13. RSI is again entering the oversold zone. Stochastic oscillators are already there.

Trading recommendations:

Sell the pair with a possible target of 1.2000.

EURUSD

The pair is down at the target level of 1.2155 as the ECB is expected to proceed cautiously about abandoning the economic stimulus measures this September.

The price is below the middle line of the borders of Bollinger bands, below EMA 5 and EMA 13. RSI is again entering the oversold area. Stochastic oscillators are reversing upwards.

Trading recommendations:

If the pair passes the mark of 1.2155 following the outcome of the ECB meeting and Mario Draghi’s speech, it may go further down to 1.2100, and then to 1.2075.