The Analytical Overview of the Main Currency Pairs on 2018.11.22

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13648
  • Open: 1.13870
  • % chg. over the last day: +0.16
  • Day's range: 1.13948 – 1.14020
  • 52 wk range: 1.1299 – 1.2557

The EUR/USD currency pair is in a sideways trend. The technical pattern is ambiguous. Investors expect additional drivers. At the moment, the key support and resistance levels are 1.13800 and 1.14150, respectively. Positions should be opened from these marks. Today, trading volume and liquidity will be reduced due to Thanksgiving Day. We recommend reducing the risks when opening positions.

Investors expect the minutes of the ECB monetary policy meeting at 14:30 (GMT+2:00).

EUR/USD

Indicators do not send accurate signals: the price has crossed 50 MA.

The MACD histogram is near the 0 mark.

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

Trading recommendations
  • Support levels: 1.13800, 1.13400, 1.13000
  • Resistance levels: 1.14150, 1.14500, 1.14800

If the price fixes above the resistance level of 1.14150, it is necessary to consider purchases of EUR/USD. The movement is tending to 1.14500-1.14800.

An alternative may be a drop in the EUR/USD quotes to the level of 1.13400-1.13000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27834
  • Open: 1.27710
  • % chg. over the last day: -0.09
  • Day's range: 1.27791 – 1.27908
  • 52 wk range: 1.2662 – 1.4378

The technical pattern on the GBP/USD currency pair is ambiguous. At the moment, the trading instrument is consolidating. Investors expect additional drivers. The key range is 1.27600-1.28100. Positions should be opened from these marks.

Today the publication of important economic reports from the UK is not planned.

GBP/USD

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

The MACD histogram is located near the 0 mark. There are no accurate signals at the moment.

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

Trading recommendations
  • Support levels: 1.27600, 1.27200
  • Resistance levels: 1.28100, 1.28600, 1.29000

If the price fixes below the support level of 1.27600, the GBP/USD quotes are expected to fall. The movement is tending to 1.27200-1.27000.

An alternative may be the GBP/USD currency pair growth to 1.28400-1.28600.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32920
  • Open: 1.32314
  • % chg. over the last day: -0.59
  • Day's range: 1.32314 – 1.32452
  • 52 wk range: 1.2248 – 1.3387

Yesterday, a technical correction was observed on the USD/CAD currency pair after a significant increase on Tuesday, November 20. Quotes fell by more than 80 points. At the moment, the loonie is consolidating in the range of 1.32250-1.32500. Positions should be opened from these marks. The trading instrument is tending to recover.

The news feed on the economy of Canada is calm.

USD/CAD

The price has fixed between 50 MA and 200 MA, which are dynamic support and resistance levels.

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

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

Trading recommendations
  • Support levels: 1.32250, 1.32000, 1.31750
  • Resistance levels: 1.32500, 1.32800, 1.33000

If the price fixes above the resistance level of 1.32500, it is necessary to consider purchases of USD/CAD. The movement is tending to 1.32800-1.33000.

An alternative may be a further correction of the USD/CAD currency pair to 1.32000-1.31750.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.744
  • Open: 113.056
  • % chg. over the last day: +0.23
  • Day's range: 112.885 – 112.928
  • 52 wk range: 104.56 – 114.74

The technical pattern on the USD/JPY currency pair is ambiguous. At the moment, quotes are consolidating. The key support and resistance levels are 112.800 and 113.100, respectively. We recommend paying attention to the dynamics of the US government bonds. Positions should be opened from the key levels. The trading instrument is tending to decline.

Publication of important economic reports from Japan is not planned.

USD/JPY

Indicators do not send accurate signals: the price has fixed between 50 MA and 200 MA.

The MACD histogram is located in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.

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

Trading recommendations
  • Support levels: 112.800, 112.500, 112.300
  • Resistance levels: 113.100, 113.400, 113.650

If the price fixes below the support level of 112.800, the USD/JPY quotes are expected to fall. The movement is tending to 112.500-112.300.

An alternative may be the USD/JPY currency pair growth to 113.400-113.600.

by JustForex, 2018.11.22

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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