The Analytical Overview of the Main Currency Pairs on 2019.04.17

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13031
  • Open: 1.12812
  • % chg. over the last day: -0.21
  • Day's range: 1.12792 – 1.13138
  • 52 wk range: 1.1214 – 1.2557

EUR/USD keeps consolidating. Yesterday the EUR was under pressure due to the comments by the ECB representatives. Some officials think that the current economic forecasts are too positive. Right now EUR has recovered the losses and found the new key trading range at 1.12800-1.13200. The financial market participants are waiting for important releases. You should open positions from the key levels.

The Economic News Feed for 17.04.2019:

  • - Consumer Price Index (EU) – 12:00 (GMT+3:00);
  • - Trading Balance (US) – 15:30 (GMT+3:00);
  • - Federal Reserve's Beige Book (USD) – 21:00 (GMT+3:00);
EUR/USD

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, which gives a signal to buy EUR/USD.

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

Trading recommendations
  • Support levels: 1.12800, 1.12500, 1.12350
  • Resistance levels: 1.13200, 1.13500, 1.14000

If the price fixes above 1.13200, expect the quotes to grow toward 1.13500-1.13800.

Alternatively, the EUR/USD can fall toward 1.12600-1.12400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30883
  • Open: 1.30883
  • % chg. over the last day: -0.42
  • Day's range: 1.30324 – 1.30674
  • 52 wk range: 1.2438 – 1.4378

GBP/USD ignored an optimistic Labour Market report and closed in the red. GBP is under pressure due to The Guardian's report on Theresa May's and Labour Party negotiations that had supposedly hit a dead end. Right now the quotes are at 1.30350-1.30700 range. The investors are waiting for the inflation report. You should open positions from the key levels.

At 11:30 (GMT+3:00) the UK will publish a consumer price index.

GBP/USD

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

The MACD histogram is in the negative zone but above the signal line which gives a weak signal to buy GBP/USD.

The Stochastic Oscillator started to leave the overbought zone, the %K line is below the %D line which points to the bearish mood.

Trading recommendations
  • Support levels: 1.30350, 1.30000
  • Resistance levels: 1.30700, 1.31000, 1.31300

If the price fixes below 1.30350, expect further descend towards 1.30000.

Alternatively, the quotes can recover toward 1.31000-1.31200.

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: 1.33662
  • Open: 1.33492
  • % chg. over the last day: -0.05
  • Day's range: 1.33189 – 1.33725
  • 52 wk range: 1.2248 – 1.3664

USD/CAD started to descend again and updated the local minimums. The prices on oil keep showing a positive trend, which supports CAD. Right now quotes are at the 1.33150 support level with 1.33500 acting as a mirror resistance. The investors expect important economic reports today. You should open positions from the key levels.

The Economic News Feed for 17.04.2019:

  • - Basis Consumer Price Index (CAD) – 15:30 (GMT+3:00);
  • - Trading Balance (CAD) – 15:30 (GMT+3:00);
USD/CAD

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

The MACD histogram is in the negatie zone and keeps falling which points to a bearish mood.

The Stochastic Oscillator is in the oversold zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.33150, 1.33000, 1.32850
  • Resistance levels: 1.33500, 1.33700

If the price fixes below 1.33150, expect further descend toward 1.32850-1.32700.

Alternatively, the quotes can grow toward 1.33600-1.33800.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.019
  • Open: 111.995
  • % chg. over the last day: -0.03
  • Day's range: 111.922 – 112.165
  • 52 wk range: 104.56 – 114.56

USD/JPY keeps trading in a flat. There is no defined trend. The investors are waiting for important reports. Right now the key support and resistance levels are 111.800 and 112.150. You should keep an eye on the US Tresury bonds yield's dynamic and open positions from the key levels.

During the Asian trading session, Japan published a positive trading balance report.

USD/JPY

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

The MACD histogram is close to 0.

The Stochastic Oscillator is close to the oversold zone, the %K line is above the %D line which points towards buying USD/JPY.

Trading recommendations
  • Support levels: 111.800, 111.600, 111.450
  • Resistance levels: 112.150, 112.500, 112.750

If the price fixes above 112.150, expect further growth toward 112.500-112.700.

Alternatively, the quotes can correct toward 111.600-111.450.

by JustForex, 2019.04.17

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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