The Analytical Overview of the Main Currency Pairs on 2019.03.29

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12516
  • Open: 1.12276
  • % chg. over the last day: -0.15
  • Day's range: 1.12235 – 1.12387
  • 52 wk range: 1.1214 – 1.2557

The USD index updated the local maximums and closed the trading session to the positive zone, despite the weak US GDP report. During Q4 2018 the economy growth slowed down to 2.2% despite the expected 2.4%. The USD is supported by the recovery of the US Treasury bonds` yield and the dovish rhetorics of the Central Bank. Right now the EUR/USD is consolidating around 1.12150-1.12450. You should open positions from these levels.

The Economic News Feed for 29.03.2019:

  • - Labour Market Report (GER) – 10:55 (GMT+2:00);
  • - Consumer Price Index (EU) – 12:00 (GMT+2:00);
  • - Personal Usage Goods Report (EU) – 14:30 (GMT+2:00);
  • - Primary Real Estate Sales (EU) – 16:00 (GMT+2:00);
EUR/USD

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 but above the signal line which gives a weak signal to sell EUR/USD.

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

Trading recommendations
  • Support levels: 1.12150, 1.12000
  • Resistance levels: 1.12450, 1.12800, 1.13250

If the price fixes below 1.12150, expect the quotes to fall toward 1.11800-1.11600.

Alternatively, the quotes can correct toward 1.12800-1.13000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31560
  • Open: 1.30477
  • % chg. over the last day: -1.05
  • Day's range: 1.30101 – 1.30853
  • 52 wk range: 1.2438 – 1.4378

GBP/USD is in an agressive sell-off. Yesterday the pound lost around 1% against the USD and updated the key minimums. The ambiguousness around Brexit keeps pushing the pound down. The UK Parliament did not approve any of the projects proposed by Theresa May. Keep an eye on this situation and open positions from the key levels of 1.30200-1.30750.

The Economic News Feed for 29.03.2019 is calm.

GBP/USD

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

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

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

Trading recommendations
  • Support levels: 1.30200, 1.30000
  • Resistance levels: 1.30750, 1.31500, 1.32000

If the price fixed below 1.30200, expect the quotes to fall toward 1.29800-1.29500.

Alternatively, the quotes can grow toward 1.31200-1.31500.

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: 1.34113
  • Open: 1.34325
  • % chg. over the last day: +0.14
  • Day's range: 1.34231 – 1.34425
  • 52 wk range: 1.2248 – 1.3664

USD/CAD keeps consolidating. There is no defined trend. The key levels are 1.34000 and 1.34400. Right now the investors are waiting for the Canadian GDP report. You should keep an eye on the oil quotes dynamics and open positions from the key levels.

At 14:30 Canada will publish a GDP report.

USD/CAD

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 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: 1.34000, 1.33750, 1.33500
  • Resistance levels: 1.34400, 1.35000

If the price fixes above 1.34400, expect the quotes to grow toward 1.35000.

Alternatively, the quotes can descend toward 1.33750-1.33500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.457
  • Open: 110.630
  • % chg. over the last day: +0.10
  • Day's range: 110.533 – 110.929
  • 52 wk range: 104.56 – 114.56

USD/JPY remains ambiguous. The quotes are consolidating around 110.500-110.900. The financial market participants are waiting for additional drivers. You should keep an eye on the oil quotes dynamics and keep an eye on the US Treasury bonds' yield. Open the positions from the key levels.

The Economic News Feed for 29.03.2019 is calm.

USD/JPY

The indicators do not provide precise signals: 50 MA started to cross 200 MA.

The MACD histogram is in the positive zone but below the signal line, which gives a weak signal to buy 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: 110.500, 110.100, 109.800
  • Resistance levels: 110.900, 111.200

If the price fixes above 110.900, the quotes will grow toward 111.200-111.500.

Alternatively, the quotes can fall toward 110.100-109.800.

by JustForex, 2019.03.29

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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