The Analytical Overview of the Main Currency Pairs on 2018.11.28

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13268
  • Open: 1.12864
  • % chg. over the last day: -0.27
  • Day's range: 1.12670 – 1.12825
  • 52 wk range: 1.1299 – 1.2557

There is the bearish sentiment on the EUR/USD currency pair. The US dollar strengthened against the euro after Fed Vice Chairman, Richard Clarida, said that he supported a procedure for a gradual interest rate rise. Today, investors expect important economic statistics from the United States. Currently, local support and resistance levels are 1.12650 and 1.13000, respectively. Positions should be opened from these marks. Quotes have the potential for further decline.

The news feed on 28.11.2018:
  • - Preliminary data on the US GDP at 15:30 (GMT+2:00);
  • - Report on new home sales in the US at 17:00 (GMT+2:00).

We also recommend paying attention to the speech by Fed Chairman Powell.

EUR/USD

Indicators point to the power of sellers: the price has fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone and continues to decline, which gives a strong signal to sell EUR/USD.

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

Trading recommendations
  • Support levels: 1.12650, 1.12300
  • Resistance levels: 1.13000, 1.13300, 1.13700

If the price fixes below 1.12650, a further drop in the EUR/USD quotes is expected. The movement is tending to 1.12300-1.12000.

An alternative may be the EUR/USD currency pair growth to the level of 1.13300-1.13500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28059
  • Open: 1.27415
  • % chg. over the last day: -0.72
  • Day's range: 1.27329 – 1.27533
  • 52 wk range: 1.2662 – 1.4378

Yesterday, the bearish sentiment was observed on the GBP/USD currency pair. Quotes fell by almost 80 points. The British pound is under pressure after the new Brexit deal has been criticized. Currently, the local support and resistance levels are 1.27300 and 1.27750, respectively. Positions should be opened from these marks. The trading instrument has the potential for further decline.

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

GBP/USD

Indicators point to the power of sellers: the price is being traded below 50 MA and 200 MA.

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

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

Trading recommendations
  • Support levels: 1.27300, 1.27000
  • Resistance levels: 1.27750, 1.28000, 1.28300

If the price fixes below the support level of 1.27300, a further drop in the GBP/USD quotes is expected. The movement is tending to 1.27000-1.26700.

An alternative may be the GBP/USD currency pair recovery to the round level of 1.28000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32504
  • Open: 1.32922
  • % chg. over the last day: +0.35
  • Day's range: 1.33200 – 1.33316
  • 52 wk range: 1.2248 – 1.3387

The bullish sentiment prevails on the USD/CAD currency pair. During yesterday's and today's trading sessions, quotes have risen by more than 70 points. At the moment, the key support and resistance levels are 1.33000 and 1.33350, respectively. Positions should be opened from these marks. We recommend paying attention to the economic reports from the United States.

The news feed on the economy of Canada is calm.

USD/CAD

Indicators point to the power of buyers: the price is being traded above 50 MA and 200 MA.

The MACD histogram is in the positive zone, above the signal line, which gives a strong signal to buy USD/CAD.

The Stochastic Oscillator is located near the overbought zone, the %K line is crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.33000, 1.32700, 1.32400
  • Resistance levels: 1.33350, 1.33500

If the price fixes above the resistance level of 1.33350, it is necessary to consider purchases of USD/CAD. The movement is tending to 1.33500-1.33800.

Alternative option. If the price fixes below the round level of 1.33000, we recommend looking for entry points to the market to open short positions. The movement is tending to 1.32700-1.32500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.566
  • Open: 113.766
  • % chg. over the last day: +0.18
  • Day's range: 113.823 – 113.846
  • 52 wk range: 104.56 – 114.74

The USD/JPY currency pair continues to show positive dynamics. At the moment, quotes are consolidating. Local support and resistance levels are 113.700 and 113.900, respectively. The trading instrument has the potential for further growth. Economic reports from the US, as well as the speech by the Fed chairman, are in the focus of attention.

Publication of important economic reports from Japan is not planned.

USD/JPY

Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.

The MACD histogram is in the positive zone, but below the signal line, which gives a strong 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: 113.700, 113.450, 113.200
  • Resistance levels: 113.900, 114.100

If the price fixes above the local resistance of 113.900, further growth of the USD/JPY quotes is expected. The movement is tending to 114.100-114.300.

An alternative may be the USD/JPY currency pair correction to 113.500-113.300.

by JustForex, 2018.11.28

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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