The Analytical Overview of the Main Currency Pairs on 2019.05.03

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11970
  • Open: 1.11713
  • % chg. over the last day: -0.19
  • Day's range: 1.11583 – 1.11775
  • 52 wk range: 1.1111 – 1.2009

Demand for USD remains high. The EUR/USD quotes updated the local minimums. Jerome Powell mentioned earlier that the regulator will keep the current monetary policy. This statement disproven the previous idea that the Central Bank is willing to review the lowering of the key interest rates. USD is additionally supported by the growth of the US Treasury obligations. The quotes are currently consolidating around 1.11600-1.11850. The investors are waiting for he US labour report

The Economic News Feed for 03.05.2019:

  • - Consumer Price Index (EU) – 12:00 (GMT+3:00);
  • - Labour Market Report (EU) – 15:30 (GMT+3:00);
  • - Business Activity in the US non-Industrial Sector (EU) – 17:00 (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 gives a strong signal to sell EUR/USD.

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: 1.11600, 1.11400, 1.11200
  • Resistance levels: 1.11850, 1.12100, 1.12350

If the price fixes below 1.11600, expect further fescend toward 1.11200-1.11000.

Alternatively, the quotes can grow toward 1.12000-1.12300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30518
  • Open: 1.30276
  • % chg. over the last day: -0.13
  • Day's range: 1.30152 – 1.30438
  • 52 wk range: 1.2438 – 1.3631

GBP/USD started to descend after a long rally. The demand for USD has significantly grown. The Bank of England, as expected, kept the key monetary policy parameters at the same level. Right now GBP is consolidating. The key support and resistance levels are 1.30100 and 1.30450. The trading instrument can correct further. Keep an eye on the US labour report for April. You should open positions from the key levels.

At 11:30 the UK has published a business activity index in the Service industry.

GBP/USD

The indicators do not provide precise signals, the price fixed between 50 MA and 200 MA.

The MACD histogram is in the negative zone and keeps falling which gives a strong signal to sell GBP/USD.

The Stochastic Oscillator is near the oversold zone, the %K line is below the %D line which also points to a bearish mood.

Trading recommendations
  • Support levels: 1.30100, 1.29750, 1.29400
  • Resistance levels: 1.30450, 1.30750, 1.31000

If the price fixes below 1.30100, expect further descend toward 1.29750-1.29500.

Alternatively, the quotes can grow toward 1.30700-1.31000.

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.

Registration The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.34303
  • Open: 1.34657
  • % chg. over the last day: +0.20
  • Day's range: 1.34629 – 1.34740
  • 52 wk range: 1.2727 – 1.3664

The USD/CAD technical picture is ambiguous. CAD is consolidating around 1.34450-1.34750. An additional pressure is caused by agressive sales on the oil market. The US trading report for April is in the spotlight. You should open positions from the key levels.

The Economic News Feed for 03.05.2019 is calm.

USD/CAD

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

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 neutral zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.34450, 1.34000, 1.33750
  • Resistance levels: 1.34750, 1.35000, 1.35200

If the price fixes above 1.34750, consider selling USD/CAD. The price will move toward 1.35200-1.35500.

Alternatively, the quotes can fall toward 1.34200-1.34000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.380
  • Open: 111.488
  • % chg. over the last day: +0.09
  • Day's range: 111.407 – 111.542
  • 52 wk range: 104.97 – 114.56

USD/JPY keeps consolidating. There is no defined trend. The trading instrument is testing the local support and resistance levels at 111.400 and 111.650. The market participants are waiting for additional drivers. Keep an eye on the US Treasury bonds' yield. You should open positions from the key levels.

The Japanese markets are closed due to holidays.

USD/JPY

The indicators do not provide precise signals: the price fixed between 50 MA and 200 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: 111.400, 111.100
  • Resistance levels: 111.650, 111.900, 112.150

If the price fixes below 111.400, expect further descend toward 111.000.

Alternatively, the quotes can grow toward 111.900-112.150.

by JustForex, 2019.05.03

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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