The Analytical Overview of the Main Currency Pairs on 2019.03.21

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13506
  • Open: 1.14245
  • % chg. over the last day: +0.67
  • Day's range: 1.14000 – 1.14374
  • 52 wk range: 1.1214 – 1.2557

Yesterday the USD weakened against the other world currencies due to the Federal Reserve' comments. The regulator left the key interest range at the previous levels of 2.25-2.50%. The Central Bank is worried about the growing risks in the world economy and doesn't want to increase the rates this year. The 10-year US Treasury bonds' yield fell to the 2018 minimums. Right now the currency pair is consolidating around 1.14000-1.14450 and can grow further. You should open positions from these levels.

At 14:30 (GMT+2:00) the Philadelfia Federal Reserve will publish an Industrial PMI.

EUR/USD

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

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 oversold zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.14000, 1.13600, 1.13350
  • Resistance levels: 1.14450, 1.15000

If the price fixes above 1.14450, expect further growth toward 1.15000.

Alternatively, the quotes can correct toward 1.13600-1.13400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32668
  • Open: 1.31922
  • % chg. over the last day: -0.49
  • Day's range: 1.31501 – 1.32271
  • 52 wk range: 1.2438 – 1.4378

GBP is under pressure due to Brexit ambiguousness. Theresa May requested a delay in Brexit until June, 30. The Premier Minister of the Great Britain plans to have another vote on the current project. Earlier the Speaker of the House of Commons denied a second vote and requested for a deal to be presented in a new format.

The investors today are waitching the Bank of England meeting. The regulator is expected to keep the monetary policy parameters at the same levles. You should keep an eye on the comments made by its representatives. Right now the key support and resistance levels are 1.31500 and 1.32250, oyu should open positions from them.

The Economic News Feed for 21.03.2019:

  • - Retail Sale Report (UK) – 11:30 (GMT+2:00);
  • - Key Interest Rate Announcement (GB) – 14:00 (GMT+2:00);
GBP/USD

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

MACD is in the negative zone and keeps falling, which points to the bearish mood.

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

Trading recommendations
  • Support levels: 1.31500, 1.31000, 1.30550
  • Resistance levels: 1.32250, 1.33000, 1.33600

If the price fixes below 1.31500, expect the quotes to fall toward 1.31000-1.30600.

Alternatively, the quotes can grow toward 1.32600-1.32800.

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 The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33246
  • Open: 1.32963
  • % chg. over the last day: -0.24
  • Day's range: 1.32759 – 1.33145
  • 52 wk range: 1.2248 – 1.3664

USD/CAD keeps trading in a long flat. There is no single trend. The local support and resistance levels are 1.32850 and 1.33150. The demand for the USD is weakened after the Federal Reserve meeting while CAD is supported by the bullish moods on the oil market. You should keep an eye on the reports from the US and open positions from the key levels.

The Economic News Feed for 21.03.2019 is calm.

USD/CAD

The indicators do not provide precise signals, the price is testing 50 MA.

The MACD histogram is in the negative zone but above the signal line which gives a weak signal to sell USD/CAD.

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

Trading recommendations
  • Support levels: 1.32850, 1.32600
  • Resistance levels: 1.33150, 1.33450, 1.33650

If the price fixes below 1.32850, expect the quotes to fall toward 1.32600-1.32300.

Alternatively, the quotes can grow toward 1.33400-1.33600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.398
  • Open: 110.615
  • % chg. over the last day: -0.65
  • Day's range: 110.299 – 110.747
  • 52 wk range: 104.56 – 114.56

USD/JPY is currently in an aggressive selloff. During the last two days, the quotes fell by 100 points and updated the key minimums. The demand for the USD is weakened after the Federal Reserve statements. The regulator will not change its opinion on not raising the key interest rates this year. The JPY is additionally supported by the ambiguousness around Brexit. Right now the local support and resistance are 110.350 and 110.600. The trading instrument has a tendency to descend further.

The Economic News Feed for 21.03.2019 is calm.

USD/JPY

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

The MACD histogram is in the negative zone and below the signal line which gives a strong signal to sell USD/JPY.

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: 110.350, 110.000
  • Resistance levels: 110.600, 110.750, 110.900

If the price fixes below the local support 110.350, expect the quotes to fall toward 110.000-109.800.

Alternatively. the quotes can grow toward 110.800-111.000.

by JustForex, 2019.03.21

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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