Forecast for the EUR/USD currency pair

Technical indicators of the currency pair:

Prev Opening: 1.06638
Opening: 1.06443
Chg. % Last day: -0.18
Day range: 1.06378 – 1.06602
52-week range: 1.0366 – 1.1616

Since the beginning of this week, EUR/USD is being traded in a flat with a fairly narrow range. We can identify the key support and resistance levels: 1.06400 and 1.06750. Today, the attention is focused on the report on the labor market in the US and the press conference of D. Trump and the PRC President. Preliminary statistics from ADP turned out to be positive.

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 fixed in the neutral zone, the %K line crossed the %D line. There are no signals yet.

Today we expect important statistics from the US:
– average hourly wage (15:30 GMT+3:00);
– change in the number of employed in the non-agricultural sector of the country (15:30 GMT+3:00);
– the proportion of the economically active population (15:30 GMT+3:00);
– unemployment level (15:30 GMT+3:00).

Trading recommendations:

Support levels: 1.06400
Resistance levels: 1.06750, 1.07600

We recommend reducing risks when opening positions. High volatility and trading activity will occur in the market.

If the report on the labor market in the US is positive, a downward trend may develop on the EUR/USD currency pair. The potential for movement – 1.05500.
An alternative may be the EUR/USD correction to the level of 1.07500-1.07600.

Forecast for the GBP/USD currency pair

Technical indicators of the currency pair:

Prev Opening: 1.24827
Opening: 1.24676
Chg. % Last day: -0.10
Day range: 1.24522 – 1.24773
52-week range: 1.1986 – 1.5020

During yesterday’s trading, the GBP/USD currency pair tested key levels: 1.24500 and 1.25000. At the moment, the technical pattern is ambiguous. We expect economic reports from the UK.