The Analytical Overview of the Main Currency Pairs on 2018.11.29

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12864
  • Open: 1.13678
  • % chg. over the last day: +0.71
  • Day's range: 1.13824 – 1.13975
  • 52 wk range: 1.1299 – 1.2557

Yesterday, EUR/USD was showing aggressive purchases. USD is weakened against the EUR after the release of the weak economic stats and statements by the head of the Federal Reserve. EUR/USD quotes grew by more than 100 points. At the moment, the local support and resistance levels are 1.13700 and 1.14000. Positions should be opened from these levels. Quotes have a tendency to grow further.

The news feed on 29.11.2018:
  • - Unemployment Change in Germany (EU) – 10:55 (GMT+2:00);
  • - Pending Home Sales (US) – 17:00 (GMT+2:00);
  • - FOMC Minutes Release (US) – 21:00 (GMT+2:00).
EUR/USD

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 weak 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: 1.13700, 1.13400, 1.13100
  • Resistance levels: 1.14000, 1.14300, 1.14550

If the price fixes above 1.14000, the EUR/USD quotes can grow further. The movement is tending to 1.14300-1.14550.

Alternatively, the EUR/USD can fall toward 1.13400-1.13100.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27415
  • Open: 1.28235
  • % chg. over the last day: +0.56
  • Day's range: 1.27790 – 1.28345
  • 52 wk range: 1.2662 – 1.4378

Yesterday, GBP/USD market was in a bullish mood. The quotes have grown by 80 points. Currently the quotes are descending and testing the 1.27750 support. The resistance is at 1.28300. Positions should be opened from the key levels, the quotes can descend further.

Today we do not expect any publication of important economic reports from the UK.

GBP/USD

Indicators do not provide precise signals: the price is being traded between 50 MA and 200 MA.

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

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

Trading recommendations
  • Support levels: 1.27750, 1.27400
  • Resistance levels: 1.28300, 1.28700, 1.29000

If the price fixes below the mirror support level of 1.27750, a further drop in the GBP/USD quotes is expected. The movement is tending to 1.27400-1.27000.

Alternatively, GBP/USD can correct to the round level of 1.28300-1.28500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32922
  • Open: 1.32725
  • % chg. over the last day: -0.14
  • Day's range: 1.32533 – 1.32723
  • 52 wk range: 1.2248 – 1.3387

Yesterday the USD/CAD market was in a bearish mood. At the moment the picture is ambiguous. The quotes are moving sideways. The local support and resistance are 1.32500 and 1.32850. Positions should be opened from these levels. Also, keep an eye on the oil quotes` dynamic.

The news feed on the economy of Canada is calm.

USD/CAD

Indicators do not provide precise signals, the price is being traded between 50 MA and 200 MA.

The MACD histogram is in the negative zone, below the signal line, which gives a strong signal to sell 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: 1.32500, 1.32150, 1.31800
  • Resistance levels: 1.32850, 1.33150, 1.33500

If the price fixes above the support level of 1.32500, you should consider selling USD/CAD. The movement is tending to 1.32150-1.31800.

Alternatively, the price fixes above 1.32850 and you should look for the market entry points to open long positions. The movement will tend toward 1.33150-1.33500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.766
  • Open: 113.672
  • % chg. over the last day: -0.19
  • Day's range: 113.327 – 113.375
  • 52 wk range: 104.56 – 114.74

USD/JPY is in a downward trend. The local support and resistance are 113.200 and 113.450. The quotes can descend further. You should keep an eye on the 10-year yield of the US Treasury bonds.

Publication of important economic reports from Japan is not planned.

USD/JPY

Indicators do not provide precise signals, the price has fixed between 50 MA and 200 MA.

The MACD histogram is in the negative zone, below the signal line, which gives a strong signal to sell USD/JPY.

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

Trading recommendations
  • Support levels: 113.200, 112.900, 112.650
  • Resistance levels: 113.450, 113.700, 114.000

If the price fixes below the local support of 113.200, further growth of the USD/JPY quotes is expected. The movement is tending to 112.900-112.650..

An alternative may be the USD/JPY currency pair growth to 113.700-114.000.

by JustForex, 2018.11.29

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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