The Analytical Overview of the Main Currency Pairs on 2019.01.29

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.14006
  • Open: 1.14253
  • % chg. over the last day: +0.15
  • Day's range: 1.14204 – 1.14449
  • 52 wk range: 1.1214 – 1.2557

EUR kept rising against the USD. Right now the local support and resistance levels are 1.14200 and 1.14450. Mario Draghi, the head of the Central Bank of Europe, is worried about the growing risks on the global markets. The regulator intends to keep the monetary policy the same. The investors are waiting for the Federal Reserve meeting. Keep an eye on the US/China trading conflict and open positions from the key levels.

At 17:00 (GMT +2:00) US will publish the Customer Trust Index.

EUR/USD

The price fixed above 50 MA and 200 MA which showcases the power of the buyers.

The MACD histogram is in the positve zone and keeps rising which gives a signal to buy EUR/USD.

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

Trading recommendations
  • Support levels: 1.14200, 1.13900, 1.13700
  • Resistance levels: 1.14450, 1.15000

If the price fixes above 1.14450, expect the price to grow toward 1.14800-1.15000.

Alternatively the price can fall toward 1.14000-1.13800.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31838
  • Open: 1.31520
  • % chg. over the last day: -0.36
  • Day's range: 1.31294 – 1.31683
  • 52 wk range: 1.2438 – 1.4378

The pound has stabilized around the key range of 1.31300 and 1.32000. The financial market participants are waiting for the Brexit vote in the parliament. Today you should minimize risks when opening GBP/USD orders.

Keep an eye on the US economic reports.

GBP/USD

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

The MACD histogram is 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: 1.31300, 1.30600, 1.30000
  • Resistance levels: 1.32000, 1.32500

If the price fixes above 1.32000 expect it to grow further toward 1.32500-1.32750.

Alternatively, the quotes can fall toward 1.30700-1.30400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32183
  • Open: 1.32592
  • % chg. over the last day: +0.30
  • Day's range: 1.32448 – 1.32784
  • 52 wk range: 1.2248 – 1.3664

Yesterday USD recovered against the CAD. Right now the quotes are moving sideways. The trading instrument created the local support and resistance levels at 1.32500 and 1.32800. USD/CAD has a tendency to descend. You should open positions from the key levels. Keep an eye on the US newsfeed.

The Economic News Feed for 29.01.2019 is calm.

USD/CAD

The indicators do not provide precise signals, the price fixed betwee 50 MA and 200 MA

The MACD histogram is close to 0.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which gives a sinal to buy USD/CAD..

Trading recommendations
  • Support levels: 1.32500, 1.32250
  • Resistance levels: 1.32800, 1.33150

If the price fixes below the local support 1.32500 expect the quotes to fall further toward 1.32250-1.32000..

Alternatively the quotes can recover toward 1.33000-1.33200.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.541
  • Open: 109.317
  • % chg. over the last day: -0.14
  • Day's range: 109.130 – 109.392
  • 52 wk range: 104.56 – 114.56

USD/JPY technical picture remains ambiguous. The yen remains in a flat. The key range is 109.150-109.400, with prospects to descend. Keep an eye on the US Treasury bonds yield and open positions from the key levels.

The Economic News Feed for 29.01.2019 is calm.

USD/JPY

The indicators do not provide precise signals, the price has crossed 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 USD/JPY.

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: 109.150, 108.900, 108.700
  • Resistance levels: 109.400, 109.600, 109.850

If the price fixes below 109.150, expect the quotes to fall toward 108.900-108.700.

Alternatively the quotes can grow toward 109.600-109.800.

by JustForex, 2019.01.29

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.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
Stop and Limit Orders in Forex
There are many gainful opportunities for traders in the forex market, but no one is immune to losses. That’s the reason why traders should employ an efficient trading strategy where both stop and limit orders go hand in hand with other essential aspects of the strategy.
Read more
Top 10 Successful Forex Traders in Indonesia
Due to the growing popularity of forex trading, it’s impossible to stay on the sidelines. What does it take to become one of those confident traders? Is forex trading for you? Find out more about the nature of this industry and have a look at the list of top Indonesian forex traders in 2021.
Read more
Guide to Forex Trading in Indonesia
What is forex trading? It’s freedom – due to the round-the-clock market operation in different parts of the world, hundreds of thousands of traders choose what’s best for them: time frame, asset, strategy, objectives, amount of a deposit, etc. There might be a lot of questions in the beginning of your trading journey, and this article aims to emphasize the essential aspects of this profession.
Read more