The Analytical Overview of the Main Currency Pairs on 2019.02.18

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12939
  • Open: 1.12901
  • % chg. over the last day: -0.05
  • Day's range: 1.12894 – 1.13248
  • 52 wk range: 1.1214 – 1.2557

EUR started to recover and retreated from the monthly minimums. The trading negotiations between the US and China remain in the spotlight. Both sides try to reach a compromise that would prevent an increase of fees on Chinese wares after March 1. This week the countries will continue negotiations in Washington. The FOMC minutes are set to release on Wednesday, February 20. EUR/USD is consolidating around 1.13000-1.13250. You should open positions from these levels.

The US and Canadian financial markets are closed due to the holidays.

EUR/USD

The indicators do not provide precise signals, the price fixed between 50 MA and 200 MA which act as strong dynamic support and resistance levels.

The MACD histogram is in the positive zone and above the signal line which points to further correction of the EUR.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which points to a descend of EUR/USD quotes.

Trading recommendations
  • Support levels: 1.13000, 1.12700, 1.12500
  • Resistance levels: 1.13250, 1.13500, 1.13750

If the price fixes above 1.13250, expect the recovery toward 1.13500-1.13750.

Alternatively, the quotes can fall toward 1.12700-1.12500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27972
  • Open: 1.29005
  • % chg. over the last day: +0.61
  • Day's range: 1.28914 – 1.29203
  • 52 wk range: 1.2438 – 1.4378

On Friday, February 15, GBP/USD had an aggressive buyout. The quotes grew by 100 points and updated the local maximums. The demand grew after the positive economic reports from the UK. Right now the quotes are consolidating around 1.28750 and 1.29200. The pound can recover further. Keep an eye on the Brexit conundrum.

The Economic News Feed for 18.02.2019 is calm.

GBP/USD

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

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

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

Trading recommendations
  • Support levels: 1.28750, 1.28400, 1.28000
  • Resistance levels: 1.29200, 1.29500, 1.29850

If the price fixes above 1.29200 expect the quotes to grow further toward 1.29500-1.29800.

Alternatively, the quotes can recover toward 1.28500-1.28200.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32905
  • Open: 1.32509
  • % chg. over the last day: -0.38
  • Day's range: 1.32250 – 1.32538
  • 52 wk range: 1.2248 – 1.3664

USD/CAD started to descend. On Friday the quotes fell by 50 points and are consolidating around the monthly minimums. The local support and resistance are 1.32250 and 1.32600. The trading instrument has a tendency to descend further. The additional support is provided by the positive oil quotes dynamics.

The Canadian financial markets are closed due to a holiday.

USD/CAD

The indicators do not provide precise signals, the 50 MA us crossing the 200 MA.

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

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: 1.32250, 1.32000, 1.31600
  • Resistance levels: 1.32600, 1.32850, 1.33250

If the price fixes below 1.32250, expect the qutoes to fall toward 1.32000-1.31700.

Alternatively, the quotes can recover toward 1.32800-1.33000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.440
  • Open: 110.500
  • % chg. over the last day: +0.02
  • Day's range: 110.457 – 110.613
  • 52 wk range: 104.56 – 114.56

USD/JPY has an ambiguous technical picture. The trading instrument is moving sideways, the investors are waiting for additional drivers. The safe haven currency is testing the key levels of 110.400 and 110.650. The USD/JPY quotes have a tendency to correct after a long rally. You should open positions from the key levels.

The Economic News Feed for 18.02.2019 is calm.

USD/JPY

There are no 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: 110.400, 110.250, 110.000
  • Resistance levels: 110.650, 110.850, 111.000

If the price fixes below 110.400, expect the quotes to correct toward the round 110.000.

Alternatively, the quotes can grow toward 110.850-111.000.

by JustForex, 2019.02.18

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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