The Analytical Overview of the Main Currency Pairs on 2019.02.27

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13583
  • Open: 1.13892
  • % chg. over the last day: +0.28
  • Day's range: 1.13725 – 1.13956
  • 52 wk range: 1.1214 – 1.2557

Yesterday, USD kept losing positions against the basket of major currencies. The US index (#DX) updated the local minimums after the dowish comments by Jerome Powell. The official is sure in the economic growth of the country. At the same time, the Central Bank will not increase the key interest rates. Right now the EUR/USD is moving in a flat. The key support and resistance levels are 1.13700 and 1.14000. Keep an eye on the Washington/Beijing trading negotiations. You should open positions from the key levels.

At 17:00 (GMT+2:00) the US will publish the index of opened sales on the real estate market.

EUR/USD

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

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

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which points to the bullish mood.

Trading recommendations
  • Support levels: 1.13700, 1.13500, 1.13200
  • Resistance levels: 1.14000, 1.14500

If the price fixes above the round 1.14000, expect the quotes to rise toward 1.14300-1.14500.

Alternatively, the quotes can descend toward 1.13500-1.13300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31083
  • Open: 1.32519
  • % chg. over the last day: +1.23
  • Day's range: 1.32336 – 1.32837
  • 52 wk range: 1.2438 – 1.4378

GBP/USD is in a steady rising trend. Yesterday the quotes grew by 150 points and updated the annual maximums. The PM of the UK, Theresa May, offered the British Parliament to vote for post-poning Brexit in order to manage the process better and make it less chaotic. Right now the quotes are testing the 1.32800 mark, with 1.32150 acting as the near support. There are further growth prospects.

The Economic News Feed for 27.02.2019 is calm.

GBP/USD

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

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

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which also points to the bullish mood.

Trading recommendations
  • Support levels: 1.32150, 1.31500, 1.31000
  • Resistance levels: 1.32800, 1.33500

If the price fixes above 1.32800, expect the quotes to grow toward 1.33400-1.33600.

Alternatively, the quotes can correct toward 1.31700-1.31300.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31863
  • Open: 1.31657
  • % chg. over the last day: -0.20
  • Day's range: 1.31530 – 1.31763
  • 52 wk range: 1.2248 – 1.3664

Yesterday USD/CAD held the local resistance at 1.32400 and started to descend once more. The CAD is recovering due to the positive oil quotes dynamics. Right now the currency pair is consolidating aroun 1.31500-1.31850. It can descend further, but so far you should open positions from the key levels.

The Economic News Feed for 27.02.2019:

  • - Economic Event (CAD) – 00:00 (GMT+2:00);
  • - Economic Event (CAD) – 00:00 (GMT+2:00);
  • - Economic Event (CAD) – 00:00 (GMT+2:00);
USD/CAD

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

The MACD histogram is in the negative zone and keeps lowering, which gives a weak signal to sell USD/CAD.

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

Trading recommendations
  • Support levels: 1.31500, 1.31150, 1.31000
  • Resistance levels: 1.31850, 1.32150, 1.32400

If the price lowers below 1.31500, expect the quotes to fall toward 1.31000.

Alternatively, the quotes can correct toward 1.32150-1.32400.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.029
  • Open: 110.568
  • % chg. over the last day: -0.45
  • Day's range: 110.354 – 110.628
  • 52 wk range: 104.56 – 114.56

USD/JPY is showing a bearish mood. During the last two days, yen recovered by more than 60 points. The quotes updated the local minimums. Right now the price is testing the support at 110.250-110.350 with 110.500 acting as a mirror resistance. The quotes have a tendency to descend. The US currency is under pressure after the dowish comments by Powell. You should open positions from the key levels.

The Economic News Feed for 27.02.2019 is calm.

USD/JPY

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

The MACD histogram is in the negative zone and keeps lowering, which points to the bearish mood.

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

Trading recommendations
  • Support levels: 110.350, 110.000
  • Resistance levels: 110.500, 110.650, 110.800

If the price fixes below 110.350, expect the quotes to fall toward 110.000.

Alternatively, the quotes can grow toward 110.700-110.900.

by JustForex, 2019.02.27

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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