Forecast for the EUR/USD currency pair
Technical indicators of the currency pair:
Prev Opening: 1.06443
Opening: 1.05877
Chg. % Last day: -0.51
Day range: 1.05692 – 1.05943
52-week range: 1.0366 – 1.1616
On Friday, April 7, the US Department of Labor published a combined report. The number of employed in the non-agricultural sector of the country slowed to 98,000. At the same time, the unemployment level decreased and amounted to 4.5%. The growth of the average hourly wage coincided with market expectations at the level of 0.2%. A “bearish” moods prevailed in the market. Drop in the EUR/USD quotes exceeded 0.5%. The currency found support at 1.05750.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.
Stochastic Oscillator has left the overbought zone, the %K line is below the %D line, indicating a further drop in the EUR/USD quotes.
There are no important economic reports from the EU and the US today. The attention is focused on the press conference of Fed Chair Yellen (23:10 GMT+3:00).
Trading recommendations:
Support levels: 1.05750
Resistance levels: 1.06400
If the price consolidates below the support level of 1.05750, we recommend considering sales of EUR/USD. The potential for movement – 1.05250-1.05000.
Forecast for the GBP/USD currency pair
Technical indicators of the currency pair:
Prev Opening: 1.24676
Opening: 1.23777
Chg. % Last day: -0.78
Day range: 1.23649 – 1.24041
52-week range: 1.1986 – 1.5020
On Friday, sales prevailed on GBP/USD. This is due to the release of weak economic reports from Britain. The pound weakened against the US dollar by more than 100 points. The currency found support at 1.23650. At the moment, GBP/USD is testing a “mirror” resistance of 1.24000.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.
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