The Analytical Overview of the Main Currency Pairs on 2019.05.30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11600
  • Open: 1.11310
  • % chg. over the last day: -0.21
  • Day's range: 1.11244 – 1.11433
  • 52 wk range: 1.1111 – 1.2009

EUR kept losing positions against the USD. The quotes have set the new local minimums. The pressure on the EUR was caused by the weak labour market report from Germany. The US/China trading conflict remains in the spotlight. Beijing claimed that they are not going to use precious metals in as leverage in the war. Right now the quotes are consolidating between 1.11300 and 1.11500. The trading instrument can descend further. The investors are evaluating the US economic releases. You should open positions from the key levels.

The Economic News Feed for 30.05.2019:

  • - GDP report (US) – 15:30 (GMT+3:00);
  • - Jobless Claims (US) – 15:30 (GMT+3:00);
  • - Unfinished Real Estate Purchases (EU) – 17:00 (GMT+3:00);
EUR/USD

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

The MACD histogram is in the negative zone, the %K line is below the %D line which also points to the bearish mood.

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: 1.11300, 1.11100
  • Resistance levels: 1.11500, 1.11750, 1.12000

If the price fixes below 1.11300, expect further descend towards 1.11000-1.10800.

Alternatively, the quotes can grow towards 1.11700-1.11900.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26533
  • Open: 1.26201
  • % chg. over the last day: -0.19
  • Day's range: 1.26111 – 1.26403
  • 52 wk range: 1.2438 – 1.3631

GBP/USD remains in a bearish mood. GBP is under pressure due to the Brexit ambiguousness. GBP/USD quotes are consolidating. The key support and resistance levels are 1.26100 and 1.26500. GBP has prospects for a further descend. The financial market participants are evaluating important economic reports. You should open positions from the key levels.

The Economic News Feed for 30.05.2019 is calm.

GBP/USD

The indicators point to the power of the sellers, the price fixed below 50 MA and 200 MA.

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

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: 1.26100, 1.25600
  • Resistance levels: 1.26500, 1.26850, 1.27100

If the price fixes below 1.26100, expect further descend towards the round 1.25700-1.25500.

Alternatively, the quotes can correct towards 1.26800-1.27000.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.34828
  • Open: 1.35164
  • % chg. over the last day: +0.17
  • Day's range: 1.34937 – 1.35205
  • 52 wk range: 1.2727 – 1.3664

USD/CAD stabilized after a long rally. CAD is consolidating. The key support and resistance levels are 1.34850 and 1.35200. The Bank of Canada, as expected, kept the key monetary policy at the same levels. We expect important reports from the US. Keep an eye on the oil quotes dynamics and open positions from the key levels.

at 15:30 (GMT+3:00) Canada will publish a current operation balance report.

USD/CAD

The indicators do not provide precise signals, the price is testing 50 MA.

The MACD histogram is in the positive zone but started to descend 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: 1.34850, 1.34550, 1.34300
  • Resistance levels: 1.35200, 1.35450

If the price fixes above 1.35200, expect further growth towards 1.35450-1.35700.

Alternatively, the quotes can descend towards 1.34600-1.34400.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.356
  • Open: 109.587
  • % chg. over the last day: +0.17
  • Day's range: 109.476 – 109.826
  • 52 wk range: 104.97 – 114.56

USD/JPY started to grow and updated the local maximums. The quotes are consolidating next to 109.800 resistance level. 109.550 acts as a mirror support. The US economic reports are in the spotlight. Keep an eye on the intel regarding Brexit and open positins from the key levels.

The Economic News Feed for 30.05.2019 is calm.

USD/JPY

The price fixed between 50 MA and 200 MA. There are no signals at the moment.

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

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: 109.550, 109.300, 109.150
  • Resistance levels: 109.800, 110.000, 110.250

If the price fixes above 109.800, expect further growth towards 110.000-110.250.

Alternatively, the quotes can descend towards 109.350-109.150.

by JustForex, 2019.05.30

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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