The Analytical Overview of the Main Currency Pairs on 2018.12.28

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13518
  • Open: 1.14305
  • % chg. over the last day: +0.69
  • Day's range: 1.14267 – 1.14673
  • 52 wk range: 1.1214 – 1.2557

During the last two days of trading, the USD weakened against the basket of major currencies. The EUR/USD quotes grew by 100 points. The currency is under pressure due to renewed trading disputes between the US and China, a political ambiguousness in the White House and weak economic reports. The Consumer Trust Index for December lowered to 128.1 instead of expected 133.7. The positions should be opened from the key levels of 1.14300 and 1.14650. The trading instrument has a potential for further growth.

The Economic News Feed for 28.12.2018:

  • - Unfinished Real Estate Sales Index (US) – 17:00 (GMT+2:00);
EUR/USD

The price has fixed above 50 MA and 200 MA which points toward the power of the buyers.

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

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

Trading recommendations
  • Support levels: 1.14300, 1.14000, 1.13600
  • Resistance levels: 1.14650, 1.14850, 1.15000

If the price fixes above the resistance level of 1.14650 expect further growth of the EUR/USD toward 1.14850-1.15000.

Alternatively the quotes can descend toward 1.14200-1.14000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26311
  • Open: 1.26425
  • % chg. over the last day: +0.09
  • Day's range: 1.26390 – 1.26721
  • 52 wk range: 1.2477 – 1.4378

The GBP remains in a long flat. There is no single defined trend. The financial market participants are waiting for additional drivers. You should open positions from the key levels of 1.26300 and 1.26700, as well as keep an eye on the real estate market in the US.

The Economic News Feed for 28.12.2018 is calm.

GBP/USD

The indicators do not provide precise signals, the price has crossed 50 MA and 200 MA.

The MACD histogram is close to 0.

The Stochastic Oscillator is near the neutral zone, the %K line is below the %D line, which points toward a bearish mood.

Trading recommendations
  • Support levels: 1.26300, 1.26000, 1.25700
  • Resistance levels: 1.26700, 1.27000, 1.27350

If the price fixes above 1.26700 consider buying GBP/USD. The movement will tend toward 1.27000-1.27350.

Alternatively the quotes can descend toward 1.26000-1.25750.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.35679
  • Open: 1.36129
  • % chg. over the last day: +0.37
  • Day's range: 1.36030 – 1.36255
  • 52 wk range: 1.2248 – 1.4132

CAD keeps consolidating, there is no single trend. There is a possibility of a technical correction after a long rally. The key support and resistance levels are 1.35700 and 1.36250. Positions should be opened from these levels. You should keep an eye on the oil quotes dynamic.

The Economic News Feed for 28.12.2018 is calm.

USD/CAD

The indicators do not provide precise signals, the price has crossed 50 MA.

The MACD histogram is located close to 0.

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

Trading recommendations
  • Support levels: 1.35700, 1.35250, 1.34900
  • Resistance levels: 1.36250, 1.36600

If the price fixes above the resistance level of 1.36250 expect further growth of the USD/CAD quotes. The movement will tend toward 1.36600-1.36800.

Alternatively the quotes can correct toward 1.35600-1.35300.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.301
  • Open: 110.983
  • % chg. over the last day: -0.47
  • Day's range: 110.350 – 111.011
  • 52 wk range: 104.56 – 114.56

The USD/JPY is showing an ambiguous technical picture. The trading instrument is moving sidewards as the demand for the safe have currencies growth. The key support and resistance levels are 110.200 and 110.700. You should keep an eye on the US economic news feed and open positions form the key levels.

During the Asian trading session Japan published some ambiguous economic reports.

USD/JPY

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

The MACD histogram moved to the negative zone which points toward the bearish mood.

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

Trading recommendations
  • Support levels: 110.200, 110.000
  • Resistance levels: 110.700, 111.000, 111.450

If the price fixes above the resistance level of 110.700 expect the quotes to grow toward USD/JPY. The movement will tend toward 111.000-111.400.

Alternatively the quotes can descend toward 110.000-109.800.

by JustForex, 28.12.2018

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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