GBP/USD kept the 1.2350-1.2380 proposal zone. We can speak of the power of sellers at the moment. I expect the development of the downward trend today. Short positions can be opened after the breakout and retest of local the 1.2305 support level. Potential movement - to 1.2265.
The Canadian dollar strengthened significantly against the US dollar over the past week (more than by 300 pips). The pair reached the 1.3275 support level at the moment. I expect the correction on USD/CAD. The divergence of the price and MACD histogram will be the confirming signal. I’ll buy USD/CAD if the price consolidates above the 1.3300 level. Potential movement - to 1.3360.
The report on the US labor market will be published at 15.30 (GMT + 2: 00) today. I usually don’t trade during such days, but simply watch the market. I identified the following key levels: EUR/USD support - 1.0540, 1.0490 resistance - 1.0615 USD/JPY support - 115.30 resistance - 116.35, 117.30, 118.15
I’m going to look how the currency pairs react to these levels and will trade on Monday. Wish you all good deals and profits! P. s. Yesterday's report from ADP points to the weakness of the US labor market. That’s why I think that today's data will be negative.
The technical picture on EUR/USD is mixed at the moment. The currency kept the 1.0620 local resistance level. I’ll open positions after the breakout and retest of the key levels. If the price consolidates above $ 1.0620, I’ll buy EUR/USD. Potential movement – to 1.0675. If the price consolidates below $1.0575, I’ll sell EUR/USD. Potential movement - to 1.0520.
There was a downward trend on USD/CAD last week. The Canadian dollar held the 1.3275 mirror resistance level. I plan to open orders towards the current trend. I’ll sell USD/CAD after the breakout of the 1.3195 support level. Potential movement - to 1.3115.
The press conference of the US president J. Trump will be held at 18:00 (GMT) today. He’s going to talk about plans on the economy. The attention of financial markets is drawn to this event. I think we shouldn’t expect strong movements before the Trump’s speech. The results of the press conference can cause trend movements in the major currency pairs in the next few days. I identified the following key levels: EUR/USD Support: 1.0515, 1.0450 Resistance: 1.0575, 1.0615 USD/JPY Support: 115.30 Resistance: 116.35, 117.30, 118.15 I won’t trade today.
The US dollar is under pressure after the Trump’s conference. I’ll look for an entry point for opening long positions on EUR/USD. I’d buy after the breakout and retest of the 1.0645 mark. Potential movement - to 1.0690.
The yen significantly added to its price over the past few trading sessions. I plan to open deals towards the current trend. I’ll sell USD/JPY if the price consolidates below the 114.00 support level. Potential movement - to 113.50-113.25.
A mixed technical picture formed on the AUD/USD currency pair . The price is above the 50 MA and 200 MA; MACD histogram started to decline and fixed below the signal line. I identified the following key levels: support-0.7475 resistance-0.7515 I’ll buy if the price consolidates above 0.7515. Potential movement - to 0.7550-0.7575. I’ll sell, if the price consolidates below 0.7475. Potential movement - to 0.7430-0.7400.