The Analytical Overview of the Main Currency Pairs on 2019.04.04

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12038
  • Open: 1.12038
  • % chg. over the last day: +0.36
  • Day's range: 1.12318 – 1.12476
  • 52 wk range: 1.1214 – 1.2557

EUR keeps recovering against the USD. Yesterday the currency pair updated the local minimums. Hopes for a coming resolution of the US/China conflict have cause the risky assets' value to grow. According to Financial Times, Washington and Beijing are close to singing the final trade agreement. USD is under pressure due to weak business activity reports in the non-industrial sector, as well as the labour market reports. Right now the quotes are consolidating around 1.12200-1.12500. You should open positions from these levels. EUR/USD has a currency to rescend.

The Economic News Feed for 04.04.2019:

  • - ECB protocol publication regarding monetary policy (EU) – 14:30 (GMT+3:00);
  • - Primary Unemployment Benefits Requests (US) – 15:30 (GMT+3:00);
EUR/USD

The indicators do not provide precise signals, the price fixed between 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 crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.12200, 1.11850, 1.11500
  • Resistance levels: 1.12500, 1.12800, 1.13250

If the price fixes above 1.12500, expect the quotes to fall toward 1.12800-1.13200.

Alternatively, the quotes can fall toward 1.12000-1.11700.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31302
  • Open: 1.31545
  • % chg. over the last day: +0.36
  • Day's range: 1.31525 – 1.31910
  • 52 wk range: 1.2438 – 1.4378

GBP/USD stabilized after the sharp growth before. The quotes are testing the key support and resistance levels at 1.31500 and 1.32000. The Brexit ambiguousness remains in the spotlight. Theresa May plans to meet with the leaders of opposition to find a way out of this situation. Keep an eye on the Brexit situation and open positions from the key levels.

The news feed is calm today.

GBP/USD

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

The MACD hitogram 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: 1.31500, 1.31200, 1.30800
  • Resistance levels: 1.32000, 1.32400, 1.32650

If the price fixes above the round 1.32000, expect the quotes to grow toward 1.32400-1.32650.

Alternatively, the quotes can fall toward 1.31200-1.31000.

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: 1.33362
  • Open: 1.33425
  • % chg. over the last day: +0.07
  • Day's range: 1.33363 – 1.33605
  • 52 wk range: 1.2248 – 1.3664

USD/CAD is trading in a flat with a very wide range. The quotes are consolidating. The financial market participants are waiting for additional drivers. The local support and resistance levels are showing at 1.33350 and 1.33600. CAD is supported by the positive oil quotes dynamics. Open positions from the key levels.

At 17:00 (GMT+3:00) Canada will publish a PMI by Ivey.

USD/CAD

The indicators differ. The price fixed between 50 MA and 200 MA which act as strong dynamic support and resistance levels.

The MACD histogram is in the positive zone and above the signal line which gives a strong 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: 1.33350, 1.33000
  • Resistance levels: 1.33600, 1.33750, 1.34000

If the price fixes below 1.33350, consider selling USD/CAD with 1.33000 acting as a price-fixation level.

Alternatively, the quotes can grow toward 1.33800-1.34000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.314
  • Open: 111.454
  • % chg. over the last day: +0.06
  • Day's range: 111.336 – 111.522
  • 52 wk range: 104.56 – 114.56

USD/JPY shows an ambiguous technical picture. The quotes are consolidating. The local support and resistance levels are at 111.150-111.550. The demand for safe have currencies is weakened due to US/China negotiations coming to an end. The USD is under pressure due to weak economic resources. Keep an eye on the US Treasury bonds dynamics. Open the positions from the key levels.

The Economic News Feed for 04.04.2019 is calm.

USD/JPY

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

The MACD histogram is close to 0.

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: 111.150, 110.850, 110.500
  • Resistance levels: 111.550, 112.000

If the price fixes above 111.150, expect further growth toward 112.000.

Alternatively, the qutoes can fall toward 110.850-110.600.

by JustForex, 2019.04.04

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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