The Analytical Overview of the Main Currency Pairs on 2018.12.12

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13552
  • Open: 1.13160
  • % chg. over the last day: -0.30
  • Day's range: 1.13148 – 1.13340
  • 52 wk range: 1.1214 – 1.2557

The EUR/USD keep having a negative dynamic. The demand on the USD remains due to recovery of the US Treasury bonds yield and positive reports. The EUR is consolidating. The local support and resistance are 1.13100 and 1.13350. The trading instrument can descend further. Investors expect important stats from the US.

The Economic News Feed for 12.12.2018:

  • - Inflation Report (US) – 12:00 (GMT+2:00);
EUR/USD

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

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

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

Trading recommendations
  • Support levels: 1.13100, 1.12800, 1.12500
  • Resistance levels: 1.13350, 1.13700, 1.14000

If the price fixes below the support 1.13100, expect further descend towards 1.12800-1.12500.

Alternatively, the quotes can recover toward 1.13500-1.13750.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.25557
  • Open: 1.24846
  • % chg. over the last day: -0.55
  • Day's range: 1.24763 – 1.25497
  • 52 wk range: 1.2510 – 1.4378

GBP/USD keeps falling. The trading instrument updated the local minimums. GBP remains under pressure due to the Brexit conundrum after Theresa May cancelled the vote regarding the country leaving the EU. We recommend you keep an eye on the issue. The quotes are consolidating around 1.24850-1.25400.

The News Feed is calm for today.

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 but above the signal line, which indicates a weak bearish sentiment.

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

Trading recommendations
  • Support levels: 1.24850, 1.24500
  • Resistance levels: 1.25400, 1.25800, 1.26300

If the price fixes below 1.24850, the GBP/USD quotes are expected to fall. The movement is tending to 1.24500-1.24250.

An alternative could be a growth in the GBP/USD currency pair to 1.25800-1.26000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33986
  • Open: 1.33892
  • % chg. over the last day: -0.12
  • Day's range: 1.33703 – 1.33958
  • 52 wk range: 1.2248 – 1.3445

USD/CAD has an ambigous technical picture. CAD is being traded in flat with local support and resistance being 1.33700 and 1.34000. The USD/CAD quotes have prospects for growth. The US inflation report is in the spotlight. You should open positions from the key levels.

The News Feed for Canada is calm.

USD/CAD

The indicators do not provide singals: the price has crossed 50 MA.

The MACD histogram is around 0.

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

Trading recommendations
  • Support levels: 1.33700, 1.33300, 1.32900
  • Resistance levels: 1.34000, 1.34200, 1.34450

If the price fixes above 1.34000, further growth of the USD/CAD quotes is expected. The movement is tending to 1.34300-1.34500.

Alternative option. If the price fixes below 1.33700, we recommend looking for market entry points to open short positions. The movement is tending to 1.33300-1.33000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.317
  • Open: 113.364
  • % chg. over the last day: +0.04
  • Day's range: 113.309 – 113.516
  • 52 wk range: 104.56 – 114.56

USD/JPY is consolidating around 113.500. 113.250 is the mirror support. The trading instrument has prospects for growth. The financial market participants expect reports from the US and new data regarding the Treasury bond yield. Positions should be opened from the key levels.

USD/JPY

The price has crossed the 200 MA and 50 MA which points towards a bullish mood.

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

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

Trading recommendations
  • Support levels: 113.250, 113.000, 112.750
  • Resistance levels: 113.500, 113.750

If the price fixes above the support level of 113.500,, it is necessary to consider buying USD/JPY. The movement is tending to 113.750-114.000.

An alternative could be the descend of the USD/JPY quotes to 113.000.

by JustForex, 2018.12.12

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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