The Analytical Overview of the Main Currency Pairs on 2019.04.10

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12604
  • Open: 1.12615
  • % chg. over the last day: +0.04
  • Day's range: 1.12555 – 1.12739
  • 52 wk range: 1.1214 – 1.2557

The news feed is very saturated today. The investors are waiting for the monetary policy meeting at ECB, FOMC Minutes publication and the EU leaders' summit. Expect high trading activity and major volatility.

ECB is expected to keep the monetary policy at the same level. Keep an eye on the comments and rhetorics of its representatives. Earlier the Central Bank claimed that it might introduce additional stimulating measures in September. Right now the quotes are moving sideways, testing the supply zone at 1.12750-1.12850. The key support is 1.12550. You should open positions from these levels.

The Economic News Feed for 10.04.2019:

  • - The Key Interest Rate Announcement (EU) – 14:45 (GMT+3:00);
  • - Inflation report (US) – 15:30 (GMT+3:00);
  • - FOMC Minutes (US) – 21:00 (GMT+3:00);
EUR/USD

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

The MACD histogram is close to 0.

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: 1.12550, 1.12350, 1.12100
  • Resistance levels: 1.12750, 1.13000

If the price fixes above 1.12850, expect further correction toward 1.13250-1.13500.

Alternatively, the quotes can fall toward 1.12350-1.12100.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30560
  • Open: 1.30474
  • % chg. over the last day: -0.07
  • Day's range: 1.30423 – 1.30794
  • 52 wk range: 1.2438 – 1.4378

GBP/USD remains ambiguous. The pair is being traded in a narrow range of 1.30450-1.30800. The market participants are waiting for the EU summit, which will decide on the fate of Brexit. Donald Tusk previously offered a "flexible" Brexit delay, so keep an eye on this issue and open positions from the key levels.

The Economic News Feed for 10.04.2019:

  • - GDP Report (GB) – 11:30 (GMT+3:00);
  • - Industrial Production Volume (GB) – 11:30 (GMT+3:00);
  • - Trading Balance (GB) – 11:30 (GMT+3:00);
GBP/USD

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

The MACD histogram is close to 0.

The Stochastic Oscillator is near the overbought zone, the %K line started to cross the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.30450, 1.30150, 1.29850
  • Resistance levels: 1.30800, 1.31200, 1.31900

If the price fixes above 1.30800, expect the quotes to grow toward 1.31200-1.31500.

Alternatively, the price can descend toward 1.30000.

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.

Registration The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33103
  • Open: 1.33207
  • % chg. over the last day: +0.11
  • Day's range: 1.33207 – 1.33386
  • 52 wk range: 1.2248 – 1.3664

Yesterday USD/CAD retreated from the monthly minimums. CAD is consolidating around 1.33100-1.33350, the technical picture is ambiguous. The investors are waiting for important economic releases in the US. The demand for CAD remains high due to positive oil quotes dynamics. The trading instrument can descend further. Open positions from the key levels.

The Economic News Feed for 10.04.2019 is calm.

USD/CAD

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

The MACD histogram is close to 0.

The Stochastic Oscillator is next to the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.33100, 1.32850
  • Resistance levels: 1.33350, 1.33650, 1.33900

If the price fixes below 1.33100, expect the quotes to fall toward 1.32850-1.32600.

Alternatively, the quotes can grow toward 1.33600-1.33800.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.457
  • Open: 111.131
  • % chg. over the last day: -0.35
  • Day's range: 111.060 – 111.228
  • 52 wk range: 104.56 – 114.56

USD/JPY started to descend. Yesterday the instrument updated the local minimums. 111.000 acts as a key support, 111.300 acts as a mirror support. USD/JPY has a potential to descend further. The demand on the safe assets is kept at the high level due to the stress on the US and European markets, as well as a slowdown in the world economy growth. You should open positions at the key levels.

The Economic News Feed for 10.04.2019 is calm.

USD/JPY

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

MACD is in the negative zone but above the signal line, which gives a strong signal to sell USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 111.000, 110.800, 110.500
  • Resistance levels: 111.300, 111.550, 111.800

If the price fixes below 111.000, the price can correct further toward 110.700-110.500.

Alternatively, the quotes cao grow toward 111.500-111.700.

by JustForex, 2019.04.10

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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