The Analytical Overview of the Main Currency Pairs on 2019.04.24

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12567
  • Open: 1.12260
  • % chg. over the last day: -0.31
  • Day's range: 1.12010 – 1.12260
  • 52 wk range: 1.1214 – 1.2557

Yesterday USD strengthened against the competition. The EUR/USD quotes lowered by 50 points and reached 1.12000. 1.12300 acts as a mirror resistance. The demand for the USD grew due to positive US real estate reports. The currency pair has a tendency to descend. The investors are waiting for important releases from Germany. You should open positions from the key levels.

The Economic News Feed for 24.04.2019:

  • - Business Climate Index (EU) – 11:00 (GMT+3:00);
EUR/USD

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

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

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which gives a signal to buy EUR/USD.

Trading recommendations
  • Support levels: 1.12000, 1.11500
  • Resistance levels: 1.12300, 1.12500, 1.12650

If the price fixes below 1.12000, expect further descend toward 1.11600-1.11400.

Alternatively, the quotes can recover toward 1.12500-1.12650.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29812
  • Open: 1.29369
  • % chg. over the last day: -0.37
  • Day's range: 1.29151 – 1.29431
  • 52 wk range: 1.2438 – 1.4378

GBP/USD is in a bearish mood. The GBP has updated the two-month minimums. The demand for USD has grown after the positive real estate sales report from the US. The Brexit ambiguousness keeps pushing the GBP down. The British parliament has returned from the Easter holidays, the investors are waiting on more information regarding Brexit. Right now the quotes are consolidating aroun 1.29200-1.29500. The trading instrument has a tendency to descend, you should open positions from the key levels.

The Economic News Feed for 24.04.2019 is calm.

GBP/USD

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

The MACD histogram is in the negative zone but above the signal line which points towards the sale GBP/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: 1.29200, 1.29000
  • Resistance levels: 1.29500, 1.29750, 1.30000

If the price fixes below 1.29200, expect further descend towards 1.29000-1.28700.

Alternatively, the quotes can recover toward 1.29750-1.30000.

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: 1.33499
  • Open: 1.34172
  • % chg. over the last day: +0.64
  • Day's range: 1.34166 – 1.34616
  • 52 wk range: 1.2248 – 1.3664

CAD is weakened against the USD after the decision of the Bank of Canada regarding the key interest rate. During the last two days, the quote grew by 100 points. The trading instrument set the new monthly maximums. The key range is 1.34300-1.34600. The experts are waiting for the Bank of Canada to set the key parameters of monetary policy on the same level. Keep an eye on the comments by the representatives of the Bank. You should open positions from the key levels.

The Economic News Feed for 24.04.2019:

  • - Announcment of the new key interest rate (CAD) – 17:00 (GMT+3:00);
USD/CAD

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/CAD.

The Stochastic Oscillator is in the positive zone but below the signal line which gives a weak signal to buy USD/CAD.

Trading recommendations
  • Support levels: 1.34300, 1.34000, 1.33700
  • Resistance levels: 1.34600, 1.35000

If the price fixes above 1.34600, expect further growth toward 1.35000.

Alternatively, the quotes can descend toward 1.34000-1.33700.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.919
  • Open: 111.861
  • % chg. over the last day: -0.05
  • Day's range: 111.749 – 111.983
  • 52 wk range: 104.56 – 114.56

USD/JPY remains in a long flat. There is no defined trend. The investors are waiting for additional drivers. The key support and resistance levels are 111.650 and 112.000. USD/JPY has a tendency to descend. Keep an eye on the US Treasury bonds' yield and open positions from the key levels.

The Economic News Feed for 24.04.2019 is calm.

USD/JPY

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

The MACD histogram is in the negative zone which points toward a bearish mood.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which gives a signal to buy USD/JPY.

Trading recommendations
  • Support levels: 111.650, 111.450, 111.250
  • Resistance levels: 112.000, 112.150, 112.500

If the price fixes below 111.650, expect further descend toward 111.400-111.200.

Alternatively, the quotes can grow toward 112.300-112.500.

by JustForex, 2019.04.24

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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