The Analytical Overview of the Main Currency Pairs on 2018.11.21

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.14520
  • Open: 1.13648
  • % chg. over the last day: -0.71
  • Day's range: 1.13571 – 1.14017
  • 52 wk range: 1.1299 – 1.2557

EUR/USD started to descend. The demand for the risky assets is weakened. Yesterday the EUR/USD quotes fell by more than 85 points, updating the local minimums. At the moment EUR is testing 1.14000 level, which became a mirror resistance. The key support is 1.13650. We expect important economic reports from the US. Positions should be opened from the key levels.

The News Feed for 2018.11.21
  • Core Durable Goods Orders (US) – 15:30 (GMT+2:00);
  • - Secondary Real Estate Reports (US) – 17:00 (GMT+2:00).
EUR/USD

The indicators do not provide precise signals, the price fixed between 50 MA and 200 MA.

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

The Stochastic Oscillator is in the overbought zone, the %K line started to cross the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.13650, 1.13300, 1.12800
  • Resistance levels: 1.14000, 1.14350, 1.14650

If the price fixes above 1.14000, expect further growth. Potentially towards 1.14350-1.14600.

Alternatively, the movement will keep falling toward 1.13650-1.13400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28470
  • Open: 1.27834
  • % chg. over the last day: -0.49
  • Day's range: 1.27746 – 1.28200
  • 52 wk range: 1.2662 – 1.4378

Yesterday GBP/USD has been showing a bearish sentiment. The pound has weakened against the USD by more than 65 points and is consolidating. The key range is 1.27750-1.28250. The quotes can descend further. The investors keep waiting for new intel regarding Brexit.

No important news are planned for today.

GBP/USD

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

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

The Stochastic Oscillator is in around the overbought zone, the %K line started to cross the %D line. There are no signals at the moment.

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

If the price fixes below the support 1.27750, expect further descend of the quotes toward 1.27250-1.27000.

Alternatively, the quotes can grow towards the round 1.28700-1.29000..

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31693
  • Open: 1.32920
  • % chg. over the last day: +1.02
  • Day's range: 1.32809 – 1.33174
  • 52 wk range: 1.2248 – 1.3387

CAD also weakened against USD yesterday. The USD/CAD quotes grew by 150 points and almost reached the annual maximums. It happened due to the fall of the quotes on oil, wince WTI futures lost 5.5% of their value. At the moment the currency pair is consolidating around 1.32800-1.33150. Positions should be opened from the key levels.

At 15:30(GMT+2) Canada will publish a Wholesale Sales Report.

USD/CAD

The price fixed above 50 MA and 200 MA, which indicates a bullish mood.

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

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

Trading recommendations
  • Support levels: 1.32800, 1.32500, 1.32200
  • Resistance levels: 1.33150, 1.33500, 1.33850

If the price fixes above the resistance level 1.33150, consider buying USD/CAD. The movement will tend toward the round 1.33500-1.33800.

Alternatively, the currency pair can correct to 1.32500-1.32300.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.517
  • Open: 112.744
  • % chg. over the last day: +0.13
  • Day's range: 112.644 – 112.938
  • 52 wk range: 104.56 – 114.74

The USD/JPY quotes started to grow. At the moment the safe haven currency is testing the resistance level of 112.900. 112.650 is the mirror support. The investors expect important economic reports from the US. We recommend you keep an eye on the trends regarding the US Treasury bonds. Positions should be opened from the key levels.

The news feed is calm for today.

USD/JPY

The price is between 50 MA and 200 MA, indicators do not provide signals.

The MACD histogram is in the positive zone and keeps rising, which give a strong signal towards the purchase of USD/JPY.

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

Trading recommendations
  • Support levels: 112.650, 112.350
  • Resistance levels: 112.900, 113.200, 113.400

If the price fixes above the resistance 112.900, expect a further growth of the quotes. The movement will tend toward 113.200-113.400.

Alternatively, USD/JPY can fall towards 112.500-112.350.

by JustForex, 2018.11.21

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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