Forecast for the EUR/USD currency pair

Technical indicators of the currency pair:

Prev Opening: 1.07114
Opening: 1.07163
Chg. % Of the last day: +0.06
Daily range: 1.07064 – 1.07240
52-week range: 1.0366 – 1.1616

Yesterday's trading on EUR/USD was very active. At the same time, a unidirectional trend was not observed. Despite the weak statistics from the US, the US currency rose against the euro in the afternoon. At the moment, the key trading range is 1.07000-1.07350. We are waiting for data on business activity in the EU.

The MACD histogram is in the negative area, but above the signal line, which gives a weak signal to sell EUR/USD.

Stochastic Oscillator is located in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

The economic calendar for the 21.04.2017:
– the index of business activity in the manufacturing sector of Germany (10:30 GMT+3:00);
– the index of business activity in the manufacturing sector of the euro area (11:00 GMT+3:00);
– the composite index of business activity from Markit in the euro area (11:00 GMT+3:00);
– the index of business activity in the services sector of the euro area (11:00 GMT+3:00);
– the indices of business activity in the manufacturing and service sectors of the United States (16:45 GMT+3:00);
– sales in the secondary housing market in the US (17:00 GMT+3:00).

Trading recommendations

Support levels: 1.07000, 1.06600
Resistance levels: 1.07350, 1.07700

Our past expectations have been confirmed. If the statistics from the EU are positive, the EUR/USD quotations may rise to the level of 1.07700.
An alternative may be a correction to the support level of 1.06600.

Forecast for the GBP/USD currency pair

Technical indicators of the currency pair:

Prev Opening: 1.27723
Opening: 1.28085
Chg. % of the last day: +0.27
Daily range: 1.27923 – 1.28168
52-week range: 1.1986 – 1.5020