Analytic reviews

GBPUSD

The pair has breached the 1.3000 support level and if the today's data on the British economy is weaker than expected, the price will most probably fall further.
 
The price is lower than the middle Bollinger band, lower than SMA5 and SMA14. RSI resides in the oversold zone. Stoch are also there.

Trading recommendations: If the pair keeps trading lower than 1.3000 level it can fall down to 1.2845 amind the weak data from Britain and the expectations of further stimulus expansion by the Bank of England.

EURUSD

The pair has been trading with slight changes since its return to the 1.1020-1.1155 range awating for the ECB decision on monetary policy. It can be assumed that since the Bank of England eased the monetary policy, the ECB can also go for the additional stimulus, which will have a negative impact on euro.

The price is lower than the middle Bollinger band, on the SMA5 level, but lower than SMA14. RSI is lower than the 50% level and falling. Stoch also resides lower than the 50% level.
 

Trading recommendations: Sell the pair once it has gone higher than 1.1155 level considering its possible fall to 1.1020.

EURUSD

The pair is consolidating above 1.1120 level while waiting for the US Nonfarm Payroll July data release. If the numbers are higher than expected the pair will fall under pressure.

The price is lower than the middle Bollinger band, higher than SMA5 but lower than SMA14. RSI is moving horizontally. Stoch have crossed the 50% level and rising.
 

Trading recommendations: Sell the pair amid positive Nonfarm data if 1.1120 level is breached considering a possible fall to 1.1020.

GBPUSD

The pair is falling prior to the announcement of the Britain's Central Bank decision on the interest rates and stimulus. The market assumes that the interest rate will be lowered to 0.25% and and the volume of asset purchases will be increased up to 50 bln pounds. If it happens, the pair will fall under a local pressure as a negative turn of events has already been taken into account by the market.

The price is higher than the middle Bollinger band, but lower than SMA5 and SMA14. RSI is dropping. Stoch passed the 50% level and falling. 
 

Trading recommendation: Sell the pair if it is announced that the interest rate is dropped and stimulus expanded once the 1.3270 level is breached, considering the pair's possible fall to 1.3050-55.

USDCAD

The pair is breaching 1.3130 resistance level. Should the fall in oil prices continue, as well as growth in US oil supply and positive data from ADP will provide the pair with additional support. 

The price is higher than the missle Bollinger band, higher than SMA5 and SMA14. RSI is higher than 50% level and rising. Stoch are in the overbought zone.

Trading recommendations: Buy the pair considering a possible move to 1.3235.

USDCAD

The pair encountered resistance at the 1.3130 level and is now lowering amid the correction in oil prices. If the API data fromt he US shows the reduction of gasoline and crude oil supply in the US, then the price can fall, while their growth will start pushing the pair up.

The price is lower then the middle Bollinger band, lower than SMA5 but higher then SMA14. RSI index is turning down right under 50% level. Stoch are signaling to SELL.

Trading recommendations: We are waiting for the publication of the API data from the US. Is the figures are negative, we buy the pair once the 1.3130 level is breached considering its probable move up to 1.3235 level. If the data is positive then we sell with the target level of 1.3025.

After a significant fall in oil prices that is taking place prior to the publication of the Crude Oil inventories in the US (03-08-2016), we can expect a correction to step in. In USDCAD we expect the Canadian Dollar to gain strenghth amid the recent weak statistical data on the US economy. Open a SELL order from the 1,31200 level. 

Stop/loss: 1,31520.

Take/profit: 1,30850 – 1,30350.

EURUSD

The pair has reached a local maximum of 1.1195, but most probably it can fall to 1.1020 prior to the publication of the US employment data later this week, remaining in the 1.1020-1.1185 range.

The price is higher than the middle Bollinger band, lower than SMA5 but higher than SMA14. RSI index is trying to leane the overbought zone. Stoch are signaling to sell.
 

Trading recommendations: Sell the pair, keeping in mind that it can fall to 1.1020. 

EURUSD

The pair returned to the 1.1020-1.1160 range which it will probable stay in till the ECB meeting dedicated to the monetary policy in September. We suppose that the pair needs to be sold while it is rising or bought when it is going down away from the borders of the range.

The price is higher than the upper Bollinger band, higher than SMA4 and SMA14. RSI is entering the oversold zone. Stoch are already there.

Trading recommendations: Today, is the pair does not hold higher than 1.1080, it can fall to 1.1020 where it should be bought again.

We can see the inverse head and shoulders pattern on the 4H chart at the moment. Two major pieces of data will come out today: Great Britain's GDP data for the second quarter and the US interest rate. If the data form Britain is better than expected and the Fed leaves the interest rate unchanged, it can be assumed that the British pound will gain strength against all currencies. Set a pending Buy order: Buy Limit: 1,31000.

Stop/loss: 1,30300.
Take/profit: 1,31800 – 1,32600 - 1,33160.