The Analytical Overview of the Main Currency Pairs on 2019.02.19

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12901
  • Open: 1.13083
  • % chg. over the last day: +0.16
  • Day's range: 1.12930 – 1.13136
  • 52 wk range: 1.1214 – 1.2557

Yesterday the major currencies slowed down and did not have a definitive trend. The US markets were closed due to a holiday. The EUR/USD consolidated around 1.12900 and 1.13150. The investors are waiting for new reports about the US/China negotiations. The EUR remains under pressure due to weak EU economic reports and the decrease of yields from the Germany government bonds. You should open positions from the key levels.

The Economic News Feed for 19.02.2019:

  • - ZEW Economic Mood Index (EU) – 12:00 (GMT+2:00);
EUR/USD

Indicators do not provide precise data, the price has crossed 50 MA and 200 MA.

The MACD indicator points to a bearish mood.

The Stochastic Oscillator is in the oversold zone, the %K line is above the %D line which gives a signal to buy EUR/USD.

Trading recommendations
  • Support levels: 1.12900, 1.12700, 1.12500
  • Resistance levels: 1.13150, 1.13300, 1.13600

If the price closes below 1.12900, consider looking for market entry points to open short positions. The price will move toward 1.12500-1.12300.

Alternatively, the currency pair can grow toward 1.13400-1.13600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29005
  • Open: 1.29185
  • % chg. over the last day: +0.15
  • Day's range: 1.28958 – 1.29257
  • 52 wk range: 1.2438 – 1.4378

GBP/USD stablilized after a sharp growth during the last week. The demand for GBP grew after the positive retail sales report. Right now GBP/USD quotes are consolidating. The local support and resistance levels are 1.28900 and 1.29200. The trading instrument is growing further. The investors are looking forward to the UK labour market reports, as well as news on Brexit. You should open positions from the key levels.

At 11:30 (GMT+2:00) the UK will publish the labour market reports.

GBP/USD

The indicators do not provide precise signals, 50 MA is crossing 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 suggests you should buy EUR/USD.

Trading recommendations
  • Support levels: 1.28900, 1.28500, 1.28300
  • Resistance levels: 1.29200, 1.29400, 1.29800

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

Alternatively, the quotes can fall toward 1.28600-1.28400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32509
  • Open: 1.32364
  • % chg. over the last day: -0.08
  • Day's range: 1.32267 – 1.32630
  • 52 wk range: 1.2248 – 1.3664

USD/CAD is showing an ambiguous technical picture. The CAD is consolidating. The trading instrument is testing the mirror resistance of 1.32600 with the key support being 1.32250. The investors are waiting for additional drivers. The USD/CAD quotes have correction prospects after a long rally. You should open positions from the key levels.

The Economic News Feed for 19.02.2019 is calm.

USD/CAD

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

The MACD histogram is in the positive zone, which points to a bullish mood.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell USD/CAD.

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 quotes to correct toward 1.32000-1.31700.

Alternatively, the quotes can grow toward the round 1.33000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.500
  • Open: 110.592
  • % chg. over the last day: +0.02
  • Day's range: 110.452 – 110.808
  • 52 wk range: 104.56 – 114.56

USD/JPY started to grow again. The Bank of Japan pointed out, that it is ready to strengthen the economic stimuls, if the growth of yen will prevent the economic stability and reaching the target inflation levels. Right now the local support and resistance are 110.600 and 110.850. You should open positions from these levels. Keep an eye on the US government bonds yield.

The Economic News Feed for 19.02.2019 is calm.

USD/JPY

The indicators point to the power of the buyers, the price fixed above 50 MA and 200 MA.

The MACD histogram started to grow and went to the positive zone, which points to a bullish mood.

The Stochastic Oscillator is near the oversold zone, the %K line is above the %D line which gives a weak signal to buy USD/JPY.

Trading recommendations
  • Support levels: 110.600, 110.400, 110.250
  • Resistance levels: 110.850, 111.100

If the price fixes above 110.850, expect the quotes to grow toward 111.100-111.400.

Alternatively, the quotes can descend toward 110.400-110.250.

by JustForex, 2019.02.19

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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