The Analytical Overview of the Main Currency Pairs on 2019.05.13

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12128
  • Open: 1.12299
  • % chg. over the last day: +0.12
  • Day's range: 1.12271 – 1.12407
  • 52 wk range: 1.1111 – 1.2009

EUR/USD is relatively in balance against the USD. The EUR/USD quotes are consolidating. The local support and resistance levels are 1.12150 and 1.12400. The trading conflict between Washington and Beijing remains in the spotlight. Last week Donald Trump increased the fees on the Chinese wares worth more than 200 billion USD from 10% to 25%. The market hasn't reacted yet, there hasn't been any response from China either. The investors are waiting on more intel regarding this. EUR/USD has a tendency for further growth. You should open positions from the key levels.

The Economic News Feed for 13.05.2019 is calm.

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 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 towards a bullish mood.

Trading recommendations
  • Support levels: 1.12150, 1.11850, 1.11650
  • Resistance levels: 1.12400, 1.12600

If the price fixes above 1.12400, expect further growth of EUR/USD toward 1.12600-1.12800.

Alternatively, the quotes can fall toward 1.11900-1.11700.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30126
  • Open: 1.29926
  • % chg. over the last day: -0.12
  • Day's range: 1.29926 – 1.30166
  • 52 wk range: 1.2438 – 1.3631

GBP/USD keeps moving sideways without a defined trend. The key support and resistance levels are 1.29800 and 1.30400. The financial market participants are doubting that Theresa May won't be able to reach a consensus with the opposition to leave the EU. The GBP/USD quotes have a tendency to descend. You should open positions from the key levels.

The Economic News Feed for 13.05.2019:

GBP/USD

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

The MACD histogram is close to 0.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points towards a bearish mood.

Trading recommendations
  • Support levels: 1.29800, 1.29400, 1.29100
  • Resistance levels: 1.30400, 1.30800, 1.31300

If the price fixes below 1.29800, expect further descend toward 1.29400-1.29100.

Alternatively, the quotes can recover toward 1.30800-1.31000.

Open Account The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.34646
  • Open: 1.34208
  • % chg. over the last day: -0.48
  • Day's range: 1.34162 – 1.34453
  • 52 wk range: 1.2727 – 1.3664

On Friday USD/CAD had some agressive sales and updated the local minimums. The demand for CAD has grown after a positive Canadian labour market report. USD/CAD quotes are consolidating around 1.34150-1.34450. USD/CAD has a tendency to descend. The positions should be opened from the key levels. You should keep an eye on the oil quotes dynamics.

The Economic News Feed for 13.05.2019 is calm.

USD/CAD

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

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

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points towards a bearish mood.

Trading recommendations
  • Support levels: 1.34150, 1.33800
  • Resistance levels: 1.34450, 1.34750, 1.35000

If the price fixes below 1.34150, expect further descend toward 1.33800-1.33600.

Alternatively, the qutoes can grow toward 1.34750-1.34900.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.742
  • Open: 109.760
  • % chg. over the last day: +0.16
  • Day's range: 109.597 – 109.836
  • 52 wk range: 104.97 – 114.56

USD/JPY keeps consolidating after a long fall since the beginning of the month. There is no defined trend. The key support and resistance levels are 109.500 and 110.000. The demand for the safe assets remains high after the escalation of the US/China trading conflict. The instrument has a tendency to descend. You should open positions from the key levels.

The Economic News Feed for 13.05.2019 is calm.

USD/JPY

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

The MACD histogram is in the negative zone and below the signal line which gives a strong signal to sell USD/JPY.

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: 109.500, 109.000
  • Resistance levels: 110.000, 110.300, 110.650

If the price fixes below 109.500, expect further descend toward 109.300-109.000.

Alternatively, the quotes can recover toward 110.300-110.500.

by JustForex, 2019.05.13

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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