The Analytical Overview of the Main Currency Pairs on 2019.05.27

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11812
  • Open: 1.12090
  • % chg. over the last day: +0.21
  • Day's range: 1.11985 – 1.12151
  • 52 wk range: 1.1111 – 1.2009

EUR has retreated from the annual minimums. The investors have partially fixed the USD positions after the long rally. The escalation of the trade war has increased the chances of FRS decreasing the key interest rates this year. By preliminary reports, the pro-EU parties are leading in the election, which gives additional support to the EUR. The key levels are 1.11800 and 1.12150. The EUR/USD quotes have prospects for further recovery. Open positions from the key levels.

The Economic News Feed for 27.05.2019 is calm.

EUR/USD

The price fixed above 50 MA and 200 MA which points towards 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 below the %D line which points towards the bearish mood.

Trading recommendations
  • Support levels: 1.11800, 1.11500, 1.11300
  • Resistance levels: 1.12150, 1.12400, 1.12600

If the price fixes above 1.12150, expect further correction towards 1.12400-1.12600.

Alternatively, the quotes can fall towards 1.11600-1.11400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26525
  • Open: 1.27261
  • % chg. over the last day: +0.45
  • Day's range: 1.27145 – 1.27478
  • 52 wk range: 1.2438 – 1.3631

GBP/USD started to recover after a long fall. The trading instrument updated the local maximums. On Friday the GBP was supported by the positive retail sales report. As a reminder Theresa May confirmed that she is retiring on June 7th after three years of attempts to leave the EU. GBP/USD quotes are consolidating around 1.27000-1.27750. GBP has prospects for further correction. You should open positions from the key levels.

The Economic News Feed for 27.05.2019 is calm. The markets are closed due to the holidays.

GBP/USD

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

The MACD histogram is in the positive zone and keeps rising, which points towards further growth of 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: 1.27000, 1.26500, 1.26000
  • Resistance levels: 1.27550, 1.28000

If the price fixes above 1.27550, expect further growth towards the round 1.28000.

Alternatively, the quotes can fall towards 1.26600-1.26400.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.34721
  • Open: 1.34358
  • % chg. over the last day: -0.27
  • Day's range: 1.34295 – 1.34466
  • 52 wk range: 1.2727 – 1.3664

USD/CAD shows an ambiguous technical picture. CAD is consolidating. The local support and resistance are 1.34200 and 1.34500. The demand for the USD is weakened. The quotes have a tendency to descend. Keep an eye on the oil quotes dynamics and open positions from the key levels.

The Economic News Feed for 27.05.2019 is calm.

USD/CAD

The indicators do not provide precise signals, the price 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 also points to the bearish mood.

Trading recommendations
  • Support levels: 1.34200, 1.34000, 1.33650
  • Resistance levels: 1.34500, 1.34700, 1.34900

If the price fixes below 1.34200, expect further descend towards the round 1.34000-1.33700.

Alternatively, the quotes can grow towards 1.34700-1.35000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.594
  • Open: 109.285
  • % chg. over the last day: -0.27
  • Day's range: 109.279 – 109.584
  • 52 wk range: 104.97 – 114.56

USD/JPY stabilized after a long descend at the end of the week. The trading instrument is consolidating. The local support and resistance are 109.400 and 109.700. The demand for the safe assets remains due to the escalation of the trade war and Brexit ambiguousness. USD/JPY quotes have a tendency to descend further. Open positions from the key levels.

The Economic News Feed for 27.05.2019 is calm.

  • - Economic Event (JPY) – 00:00 (GMT+3:00);
  • - Economic Event (JPY) – 00:00 (GMT+3:00);
  • - Economic Event (JPY) – 00:00 (GMT+3:00);
USD/JPY

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

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

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

Trading recommendations
  • Support levels: 109.400, 109.150, 109.000
  • Resistance levels: 109.700, 110.000, 110.350

If the price fixes below 109.400, expect further descend towards the round 109.000.

Alternatively, the quotes can grow towards 110.000-110.300.

by JustForex, 2019.05.27

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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