Analytic reviews

EURUSD

The pair is consolidating above 1.2285 as the US consumer inflation data is expected to be released. If the data isn’t worse than predicted, a local decline of the pair will be expected.

The price is on the middle line of the borders of Bollinger bands, on the level of EMA 5 and above EMA 13. RSI is on the level of 50%. Stoch stopped growing.

Trading recommendations:

If the pair passes the level of 1.2285 following the positive news from the US, it may go further down to 1.2200.

EURUSD

The pair has found support on the level of 1.2290 as it’s still uncertain what the ECB is going to do with the economic stimulus program this year. The uncertainty on the markets also keeps the pair from going either upwards or downwards.

The price is below the middle line of the borders of Bollinger bands, above EMA 5 and EMA 13. RSI is testing the level of 50%. Stoch are also growing.

Trading recommendations:

The pair is likely to remain within the range of 1.2290–1.2435, but there’s a chance of a local growth up to 1.2435.

USDCAD

The pair has found support on the level of 1.2870 as the Bank of Canada isn’t likely to hint at a possible active interest rates raise later this year. The raise isn’t expected today either. The pair may receive additional support due to Trump’s tariff increase in the US within NAFTA.

The price is above the middle line of the borders of Bollinger bands, above EMA 5 and EMA 13. RSI indicates a weakening of growth. Stochastic oscillators are moving upwards.

Trading analysis:

Positive ADP data and the dovish statement from the Bank of Canada will induce the pair to grow up to 1.3050.

EURUSD

The single currency receives support due to Donald Trumps’s effort to increase customs duties on the import of metals in the US. This problem will also be discussed on NAFTA negotiations. However, this process is likely to be drawn out, while the investors will turn their attention to ADP Employment Report already today.

The price is above the middle line of the borders of Bollinger bands, on the level of EMA 5, but above EMA 13. RSI is reversing downwards. Stochastic oscillators are in the overbought zone.

Trading recommendations:

Positive news from the US may push the pair down to 1.2250–55.

EURUSD

The pair is testing the level of 1.2275 as the profitability of the US government bonds rises, while the market expects the Fed to raise the rates.

The price is above the middle line of the borders of Bollinger bands, below EMA 5, but above EMA 13. RSI has reversed downwards and is testing the level of 50%. Stochastic oscillators are falling.

Trading recommendations:

If the price falls below 1.2275, it may go further down to 1.2150.

EURUSD

The pair is trading above 1.2250 as the profitability of the US government bonds fell dramatically yesterday. However, today the bonds’ prices are growing, which may support the USD together with the high expectations concerning the Fed’s rates.

The price is above the middle line of the borders of Bollinger bands, above EMA 5 and EMA 13. RSI has reversed downwards and is testing the level of 50%. Stochastic oscillators are reversing in the overbought zone.

Trading recommendations:

If the pair falls below 1.2255, it may go further down to 1.2150 and then possibly to 1.2065.

EURUSD

The pair has formed the classic Double Top reversal pattern. The tendencies are generally positive and will continue pressuring the pair.

The price is below the middle line of the borders of Bollinger bands, above EMA 5, but below EMA 13. RSI is leaving the oversold zone. Stochastic oscillators aren’t informative.

Trading recommendations:

The pair may return to 1.2240 level, which is the neckline of the reversal pattern. If the price remains below, the pattern will be completely formed and the pair may go down to 1.2065.

EURUSD

The pair is consolidating above the mark of 1.2200 as the US dollar’s positions strengthen following yesterday’s speech of the Fed Chair, Jerome Powell, in the US Congress.

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

Trading recommendations:

The pair may attempt correcting upwards to 1.2360, but it still holds the potential to go lower and if it falls below 1.2200, it may continue further down to 1.2065.

EURUSD

The pair is consolidating within the range of 1.2270–1.2355. If Jerome Powell’s monetary policy statements turn out to be hawkish, then a local decline of the price should be expected.

The price is above the middle Bollinger band, above EMA 5 and EMA 13. RSI is on the level of 50%. Stochastic oscillators are growing.

Trading recommendations:

The dollar is to receive support and go down to 1.2270 and then to 1.2200 if Powell’s statements concerning the continuation of Yellen’s policy turn out ti be hawkish.

EURUSD

The pair receives support as it is hoped that Mario Draghi either will support abandoning of the economic stimulus measures this September or won’t speak of it at all in his today’s speech. Either of these options would have a positive influence on the euro. Only an excessive concern over the decline of the inflation growth in the eurozone may lead to the currency’s weakening.

The price is above the middle line of the borders of Bollinger bands, above EMA 5 and EMA 13. RSI is passing the level of 50%. Stochastic oscillators are growing.

Trading recommendations:

If the mark of 1.2350 is passed, there’s a chance of the pair’s local growth up to 1.2450.