The Analytical Overview of the Main Currency Pairs on 2018.12.10

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13687
  • Open: 1.13907
  • % chg. over the last day: +0.11
  • Day's range: 1.13906 – 1.14426
  • 52 wk range: 1.1214 – 1.2557

On Friday the USD weakened against the major currencies. The US published weak labour market reports for November. The yield of the US Treasury obligations keeps lowering, which adds pressure on the US curency. The financial market participants expect the Central Bank to slow the growth of the key interest rate down. The EUR/USD is consolidating at 1.14150-1.14400, you should open positions from these levels.

The Economic News Feed for 10.12.2018:

  • - Job Openings and Labor Turnover Survey (US) – 17:00 (GMT+2)
EUR/USD

The price fixed above both 50 MA and 200 MA, which indicates the power of the buyers.

The MACD histogram is in the positive zone and above the signal line which gives a signal towards the purchase of EUR/USD.

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

Trading recommendations
  • Support levels: 1.14150, 1.13850, 1.13600
  • Resistance levels: 1.14400, 1.14800

If the price fixes above the resistance level of 1.14400, it is necessary to consider buying EUR/USD. The movement is tending to 1.14800-1.15000.

Alternatively, the quotes could descend to 1.13850-1.13600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27748
  • Open: 1.27022
  • % chg. over the last day: -0.44
  • Day's range: 1.27021 – 1.27594
  • 52 wk range: 1.2659 – 1.4378

The technical picture of GBP/USD remains ambiguous. The pound is being traded in a long flat. The event of the week is the voting on the Brexit project, which will happen on December 11. You should keep an eye on it. The key support and resistance levels are 1.27000 and 1.27400. Positions should be opened from these levels.

The Economic News Field for 10.12.2018:

  • - GDP report for the 3rd quarter (UK) – 11:30 (GMT+2:00);
  • - Manufacturing Industry Volume Report (UK) – 11:30 (GMT+2:00).

GBP/USD

Indicators show the power of the sellers. The price is below 50 MA and 200 MA.

The MACD histogram is in the negative zone and keeps falling, which indicates a strong bearish sentiment.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which points towards the descend of the GBP/USD.

Trading recommendations
  • Support levels: 1.27000, 1.26750
  • Resistance levels: 1.27400, 1.27800, 1.28000

If the price fixes below 1.27000, the GBP/USD quotes are expected to fall. The movement is tending to 1.26750-1.26500.

An alternative could be a growth in the GBP/USD currency pair to 1.27800-1.28000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33772
  • Open: 1.33328
  • % chg. over the last day: -0.44
  • Day's range: 1.32929 – 1.33332
  • 52 wk range: 1.2248 – 1.3445

Friday was marked by the aggressive sales of USD/CAD. The demand for CAD grew after the release of the positive labour market report in Canada. The USD/CAD quotes` price lowered by more than 100 pips and updated the local minimums. The quotes are consolidating at 1.32900-1.33300. Positions should be opened from these levels. The USD/CAD quotes can descend further.

At 15:30 (GMT+2:00), Canada will publish the real estate market reports.

USD/CAD

The indicators are ambiguous, the price has fixed between the 50 MA and 200 MA.

The MACD histogram is in the negative zone, the %K line is above the %D line, which points towards the growth of the USD/CAD quotes.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which points towards the growth of the USD/CAD quotes.

Trading recommendations
  • Support levels: 1.32900, 1.32500
  • Resistance levels: 1.33300, 1.33600, 1.34000

If the price fixes below the local support of 1.32900, further descend of the USD/CAD quotes is expected. The movement is tending to 1.32500-1.32300.

Alternative option. If the price fixes above 1.33300, we recommend looking for market entry points to open long positions. The movement is tending to 1.33600-1.33800.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.649
  • Open: 112.613
  • % chg. over the last day: -0.05
  • Day's range: 112.240 – 112.739
  • 52 wk range: 104.56 – 114.56

The USD/JPY technical picture points toward a possible growth. The technical instrument is showing a classic reversal figure. The local support and resistance levels are 112.600 and 112.850. The weak GDP report from Japan adds pressure on the yen. You should open positions from the key levels.

The GDP growth in Japan slowed down by 0.6% in the third quarter. Experts expected it to slow down by 0.5%.

USD/JPY

Indicators do not provide precise data, the price has crossed the 50 MA.

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

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

Trading recommendations
  • Support levels: 112.600, 112.300
  • Resistance levels: 112.850, 113.100, 113.250

If the price fixes above the support level of 112.850, it is necessary to consider buying USD/JPY. The movement is tending to 113.100-113.250.

An alternative could be the descend of the USD/JPY quotes to 112.400-112.200.

by JustForex, 2018.12.10

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.

Registration

Get Free Analytics

* required fields