The Analytical Overview of the Main Currency Pairs on 2019.04.02

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12274
  • Open: 1.12120
  • % chg. over the last day: -0.16
  • Day's range: 1.11919 – 1.12122
  • 52 wk range: 1.1214 – 1.2557

EUR/USD remains in a bearish mood. Right now the trading instrument is consolidating around 1.12000. The pressure on the EUR is caused by the weak economic releases.

The Economic News Feed for 02.04.2019:

  • - Primary Orders on Durable Goods (US) – 15:30 (GMT+2:00);
EUR/USD

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 falling which gives a signal to sell EUR/USD.

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: 1.11850, 1.11500
  • Resistance levels: 1.12150, 1.12450, 1.12800

If the price fixed below 1.11850, expect the quotes to fall toward 1.1500-1.11300.

Alternatively, the quotes can correct toward 1.12450-1.12600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30395
  • Open: 1.30925
  • % chg. over the last day: +0.35
  • Day's range: 1.30238 – 1.31141
  • 52 wk range: 1.2438 – 1.4378

GBP/USD remains active. The financial market participants are evaluating the Brexit situation - so far the British parliament refused to approve 4 alternative Brexit strategies. The EU representatives consider "hard Brexit" the most plausible option. The GBP/USD quotes are testing the 1.30300 and 1.30800 support and resistance levels. You should open positions from them.

At 11:30 (GMT+3:00) the UK will publish a construction PMI.

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, 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: 1.30300, 1.29850
  • Resistance levels: 1.30800, 1.31200, 1.31500

If the price fixes below 1.30300, expect the quotes to fall toward 1.29850-1.29700.

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: 1.33465
  • Open: 1.33046
  • % chg. over the last day: -0.27
  • Day's range: 1.33027 – 1.33371
  • 52 wk range: 1.2248 – 1.3664

CAD kept strengthening against the USD. The quotes updated the local minimums and found support at 1.33100. 1.33400 acts as a mirror support. The demand for USD weakened after ambiguous economic releases while CAD is supported by the oil quotes dynamics. The currency pair can descend further, you should open positions from the key levels.

The Economic News Feed for 02.04.2019 is calm.

USD/CAD

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 USD/CAD.

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

Trading recommendations
  • Support levels: 1.33100, 1.32900, 1.32600
  • Resistance levels: 1.33400, 1.33750, 1.34000

If the price fixes below 1.33100, expect the qutoes to fall toward 1.32700-1.32500.

Alternatively, the qutoes can grow toward 1.33700-1.33900.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.015
  • Open: 111.344
  • % chg. over the last day: +0.42
  • Day's range: 111.285 – 111.455
  • 52 wk range: 104.56 – 114.56

USD/JPY remains in a bullish mood and updated the local maximums yesterday. The quotes are consolidating around 111.450. 111.150 acts as the closest support. Keep an eye on the economic releases and the US Treasury bonds yield. You should open positions from the key levels.

The Economic News Feed for 02.04.2019 is calm.

USD/JPY

The price 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 USD/JPY.

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: 111.150, 110.850, 110.500
  • Resistance levels: 111.450, 111.700, 112.000

If the price fixes above 111.450, expect the quotes to grow toward 112.000.

Alternatively, the quotes can fall toward 110.850-110.600.

by JustForex, 2019.04.02

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.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
How to Interpret Inflation Data?
The Consumer Price Index, better known as CPI, is an important economic indicator regularly published by major economies to provide timely information on current inflation.
Read more
Setting the Clock Right: The Best Time To Trade Forex In India And Other Tips
In the forex market, many components come together for ensuring smooth operations and positive outcomes for a trader. Careful timing of trades is one of such components. In this article, we will explain how market timing is made, what time is best (and relatively worse) for trading, and how to choose the best time for forex trading in India.
Read more
The Matter of Trends: The Most Trending Forex Pairs
The forex market is lucrative for beginners and experienced traders alike because of high liquidity, various trading options, and earning potential that can be successfully realized with a properly chosen forex pair. Then the first question a trader should ask themselves is what pairs to trade and how to predict trends to make a profit off them. In this article, we will explore the trending potential of forex pairs, how to select the best pairs in forex, and uncover short-term and long-term trends.
Read more