The Analytical Overview of the Main Currency Pairs on 2019.03.22

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.14245
  • Open: 1.13739
  • % chg. over the last day: -0.35
  • Day's range: 1.13614 – 1.13907
  • 52 wk range: 1.1214 – 1.2557

The USD index stabilized after the long downfall on Wednesday. The USD is additionally supported by the positive reports from the US. The Philadelfia PMI grew by 13.7, which is more than the market expectations of 4.6. Earlier Federal Reserve noted that they will not increase the interest rates this year. Right now the quotes are consolidating with the key range being 1.13600-1.13900. You should open positions from these levels and wait for today's economic releases.

The Economic News Feed for 22.03.2019:

  • - Industrial PMI index (GER) – 10:30 (GMT+2:00);
  • - Array of Business Activity Reports (EU) – 11:00 (GMT+2:00);
  • - Business Activity Reports (US) – 15:45 (GMT+2:00);
  • - Secondary Real Estate Sales (US) – 16:00 (GMT+2:00);
EUR/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 overbought zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.13600, 1.13350, 1.13000
  • Resistance levels: 1.13900, 1.14100, 1.14450

If the price fixes above 1.13900, expect the quotes to grow toward 1.14200-1.14500.

Alternatively, the quotes can fall toward 1.1300-1.13000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31922
  • Open: 1.31129
  • % chg. over the last day: -0.51
  • Day's range: 1.31127 – 1.31583
  • 52 wk range: 1.2438 – 1.4378

Yesterday the Bank of England, as expected, kept the key parameters of the monetary policy at the same level. The National Statistic Service published a positive retail sales report for February. GBP/USD is in a major sell-off and updated the key extremums due to the risk of the hard Brexit. You should track relevant info on this subject. GBP/USD quotes are consolidating around 1.31000-1.31600. You should open positions from the key levels.

The Economic News Feed for 22.03.2019 is calm.

GBP/USD

The indicators do not provide precise signals, the price is testing 50 MA which acts as a strong dynamic resistance.

The MACD histogram is close to 0.

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

Trading recommendations
  • Support levels: 1.31000, 1.30300, 1.30000
  • Resistance levels: 1.31600, 1.32250, 1.33000

If the price fixes below 1.31000, expect the quotes to fall toward 1.30500-1.30200.

Alternatively, the quotes can recover toward 1.32000-1.32400.

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: 1.32963
  • Open: 1.33612
  • % chg. over the last day: +0.49
  • Day's range: 1.33520 – 1.33772
  • 52 wk range: 1.2248 – 1.3664

USD/CAD started to grow. Yesterday the quotes covered 75 points and updated the local maximums. Right now the pair is consolidating around 1.33450 and 1.33750 while the investors are waiting for more economic reports. You should open positions from these levels and keep an eye on the oil quotes dynamics, as well as the US Treasury bonds` yield.

At 14:30 (GMT+2:00) Canada will publish the inflation and retail sales reports.

USD/CAD

The indicators do not provide precise signals: 50 MA crossed 200 MA.

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

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: 1.33450, 1.33150, 1.32900
  • Resistance levels: 1.33750, 1.34000, 1.34300

If the price fixes above 1.33750, expect the quotes to grow toward 1.34000-1.34300.

Alternatively, the quotes can fall toward 1.33200-1.32900.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.615
  • Open: 110.854
  • % chg. over the last day: +0.11
  • Day's range: 110.535 – 110.898
  • 52 wk range: 104.56 – 114.56

USD/JPY stabilized after a sharp fall on Wednesday, March 20. Right now the trading instrument is testing the key support and resistance levels at 110.500 and 110.850. The quotes can descend further since USD is under pressure after the Federal Reserve comments. The regulator will not adjust the interest rates this year. You should open positions from the key levels.

During the Asian trading session, Japan published a weak inflation report.

USD/JPY

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

The MACD histogra started to descend which points to the bearish mood.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which also sugessts you should sell USD/JPY.

Trading recommendations
  • Support levels: 110.500, 110.350, 110.000
  • Resistance levels: 110.850, 111.150, 111.450

If the price fixes below 110.500, expect the qutoes to fall toward 110.000.

Alternatively, the quotes can grow toward 111.150-111.400.

by JustForex, 2019.03.22

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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