The Analytical Overview of the Main Currency Pairs on 2018.11.19

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13230
  • Open: 1.14129
  • % chg. over the last day: +0.81
  • Day's range: 1.13939 – 1.14249
  • 52 wk range: 1.1299 – 1.2557

EUR/USD quotes keep recovering. Friday was marked by an aggressive sell-off. EUR strengthened against the USD by 100 points while the quotes updated the local minimums. At the moment the local support and resistance levels are 1.13900 and 1.14300. EUR has potential for further growth.

The Economic News Feed for 2018.11.19 is calm.
EUR/USD

The indicators point toward the power of the sellers, the price fixed between 50 MA and 200 MA.

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

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: 1.13900, 1.13500, 1.13100
  • Resistance levels: 1.14300, 1.14550, 1.14900

If the price fixes above 1.14300, expect further growth. Potentially towards 1.14550-1.14900.

Alternatively, the price will fix below 1.13900 and you should consider selling EUR/USD. The movement will tend toward 1.13600-1.13400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27629
  • Open: 1.28440
  • % chg. over the last day: +0.49
  • Day's range: 1.28184 – 1.28841
  • 52 wk range: 1.2662 – 1.4378

GBP/USD shows an ambigous picture. The quotes are consolidating. The local support and resistance levels are 1.28250 and 1.28850. Financial market participants are waiting for the relevant data regarding Brexit. As a reminder: last week, Dominic Raab, the Secretary of UK regarding the Brexit, resigned. Positions should be opened from the key levels.

No important publications are planned for today.

GBP/USD

The price is between both 50 MA and 200 MA, there are no precise signals.

The MACD histogram started to rise, which indicates a bullish sentiment.

The Stochastic Oscillator is in near the neutral zone, the %K line is above the %D line, which provides a signal towards a sale of GBP/USD.

Trading recommendations
  • Support levels: 1.28250, 1.27750, 1.27250
  • Resistance levels: 1.28850, 1.29500, 1.30300

If the price fixes above the mirror support 1.28850, expect further correction of the quotes toward 1.29400-1.29600.

Alternatively, the quotes can fall towards the 1.29400-1.29600.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31762
  • Open: 1.31489
  • % chg. over the last day: -0.24
  • Day's range: 1.31414 – 1.31717
  • 52 wk range: 1.2248 – 1.3387

The USD/CAD quotes are in a flat. The picture is ambigous. The local support and resistance levels are 1.31500 and 1.31800. Positions should be opened from these levels. Keep in mind the oil quotes dynamics. USD/CAD has prospects for further descend.

The News Feed for Canada is calm.

USD/CAD

The indicators provide no signals: 50 MA has crossed 200 MA.

The MACD histogram is in the negative zone, but above the signal line, which give a weak signal towards a sale of USD/CAD.

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

Trading recommendations
  • Support levels: 1.31500, 1.31200, 1.30900
  • Resistance levels: 1.31800, 1.32150, 1.32500

If the price fixes below 1.31150, consider selling USD/CAD. The movement will tend toward the round 1.31200-1.31000.

Alternatively, the currency pair can grow to 1.32000-1.32200.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.637
  • Open: 112.754
  • % chg. over the last day: -0.71
  • Day's range: 112.607 – 112.857
  • 52 wk range: 104.56 – 114.74

USD/JPY quotes have a bearish mood. On Friday they fell by 85 points. The Vice President of Federal Reserve Richard Clarida considers that the interest rates are at the neutral level. He is worried about the growth rate of the world economy and thinks that the Central Bank should consider the future statistics. At the moment JPY/USD is being traded between 112.650-112.900. Positions should be opened from these levels.

Some ambiguous economic stats regarding Japanese trading balance were published today.

USD/JPY

The price is below 50 MA and 200 MA, which indicates the power of the sellers.

The MACD histogram is around in the negative zone but above the signal line. It provides a weak signal towards the sale of JPY/USD.

The Stochastic Oscillator is in the negative zone, the %K line crosses the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 112.650, 112.300, 112.000
  • Resistance levels: 112.900, 113.200, 113.450

If the price fixes below the support 113.650, expect a further descend of the quotes. The movement will tend toward 112.300-112.000.

Alternatively, quotes can grow towards 113.200-113.400.

by JustForex, 2018.11.19

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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