The Analytical Overview of the Main Currency Pairs on 2018.11.13

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13223
  • Open: 1.12176
  • % chg. over the last day: -0.88
  • Day's range: 1.12165 – 1.12573
  • 52 wk range: 1.1299 – 1.2557

EUR is consolidating around the annual minimums. The key support and resistance levels are 1.12200 and 1.12600. The conflict between the EU and Italy remains in the spotlight. Nonetheless, a technical correction is possible soon. You should open positions from the key levels.

At 12:00 (GMT+2:00) an Economic Sentiment Index by ZEW will be published in Germany.
EUR/USD

The indicators show the buyers` strength: the price fixed below 50 MA and 200 MA.

The MACD histogram is in the red but above the signal line, which gives a weak signal towards a sell-off of EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish sentiment.

Trading recommendations
  • Support levels: 1.12200, 1.12000, 1.11500
  • Resistance levels: 1.12600, 1.13000, 1.13400

If the price fixes below the support line 1.12200, we can expect further descend of the EUR/USD quotes. The movement will tend toward 1.11750-1.11500.

Alternatively, the price fixes above 1.12600, we can expect a correction of the EUR/USD. The movement will tend toward the round 1.13000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29182
  • Open: 1.28475
  • % chg. over the last day: -0.65
  • Day's range: 1.28349 – 1.28970
  • 52 wk range: 1.2662 – 1.4378

GBP/USD shows an uncertain technical picture. The pound is being traded in flat. The local support and resistance are 1.28400 and 1.29000. Positions should be opened from the key levels. The market participants are waiting for important stats from GB and new data regarding the Brexit process.

At 11:30 (GMT+2:00) we expect a Labour Market report from Great Britain.
GBP/USD

The indicators point towards the power of the buyers, the price fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone but above the signal line, which gives a weak signal towards the purchase of GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish sentiment.

Trading recommendations
  • Support levels: 1.28400, 1.27800
  • Resistance levels: 1.29000, 1.29500, 1.30300

If the price fixes below the local support 1.28400, we can expect further descend of the GBP/USD currency pair. The movement will tend toward 1.28000-1.27800.

Alternatively, the quotes can recover to the mirror support level of 1.29500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32034
  • Open: 1.32434
  • % chg. over the last day: +0.37
  • Day's range: 1.32152 – 1.32481
  • 52 wk range: 1.2248 – 1.3387

The USD/CAD currency pair keeps testing the monthly maximums. The local support and resistance are 1.32150 and 1.32500 respectively. The trading instrument has good growing prospects. Positions should be opened from the key levels. Also, keep an eye on the oil quotes` pricing.

The news feed for Canada is calm for today.

USD/CAD

The indicators point towards the power of the buyers: the price fixed above 50 MA and 200 MA.

The MACD histogram is in the positive zone but below the signal line, which gives a weak signal towards the purchase of USD/CAD.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates a bullish sentiment.

Trading recommendations
  • Support levels: 1.32150, 1.31800, 1.31450
  • Resistance levels: 1.32500, 1.33000

If the price fixes above 1.32500 we recommend you to consider purchasing USD/CAD. The movement will tend toward the round 1.33000.

Alternatively, the currency pair can descend to 1.31800-1.31600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.794
  • Open: 113.832
  • % chg. over the last day: -0.14
  • Day's range: 113.580 – 114.130
  • 52 wk range: 104.56 – 114.74

The last couple of sessions have had rather active USD/JPY trading. At the same time, there is no singular trend. The market participants are waiting for additional drivers. At the moment, the local support and resistance levels are 113.850 and 114.200. Positions should be opened from these levels.

No important economic statistics are expected from Japan today.

USD/JPY

The price fixed above 50 MA and 200 MA, which indicates the power of the buyers.

The MACD histogram switched into the positive zone, which indicates a bullish sentiment.

The Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. No signals are expected at the moment.

Trading recommendations
  • Support levels: 113.850, 113.600, 113.400
  • Resistance levels: 114.200, 114.500

If the price fixes above the resistance line 114.200 we can expect further growth towards 114.500-114750.

Alternatively the USD/JPY can descend towards 113.600-113.400.

by JustForex, 2018.11.13

We recommend you to get acquainted with the daily overview of the news feed.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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