The Analytical Overview of the Main Currency Pairs on 2019.06.12

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13113
  • Open: 1.13258
  • % chg. over the last day: +0.13
  • Day's range: 1.13258 – 1.13390
  • 52 wk range: 1.1111 – 1.2009

The EUR/USD currency pair continues to consolidate. At the moment, the trading instrument is testing the local resistance of 1.13450. The 1.12900 mark is the key support. EUR/USD quotes are tending to grow. "Greenback" remains under pressure due to rising expectations that the Fed can reduce interest rates in the near future. According to the CME FedWatch Tool, more than 65% of financial market participants believe that the regulator can reduce the range of key interest rates by 25 basis points to 2.00%-2.25% at a meeting on July 31. We expect important statistics from the United States. We recommend opening positions from key levels.

At 15:30 (GMT+3:00), the US inflation report will be published.

EUR/USD

Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.

The MACD histogram is in the positive zone and continues to rise, indicating bullish sentiment.

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

Trading recommendations
  • Support levels: 1.12900, 1.12500, 1.12200
  • Resistance levels: 1.13450, 1.14000

If the price fixes above the level of 1.13450, further growth of the EUR/USD quotes is expected. The movement is tending to the round level of 1.14000.

An alternative could be a decrease of the EUR/USD currency pair to 1.12600-1.12400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26838
  • Open: 1.27141
  • % chg. over the last day: +0.30
  • Day's range: 1.27095 – 1.27274
  • 52 wk range: 1.2438 - 1.3631

The GBP/USD currency pair continues to be traded in the flat. A unidirectional trend is not observed. Yesterday, the pound sterling was supported by a rather optimistic report on the UK labour market. At the moment, GBP/USD quotes are consolidating near the local resistance of 1.27300. The key support is the mark of 1.26900. Financial market participants are awaiting new information regarding the Brexit process. The pound is tending to recover. Positions must be opened from key levels.

Today, the publication of important economic releases from the UK is not planned.

GBP/USD

Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.

The MACD histogram is located in the positive zone, but below the signal line, which gives a weak signal to buy GBP/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.

Trading recommendations
  • Support levels: 1.26900, 1.26550, 1.26100
  • Resistance levels: 1.27300, 1.27600

If the price fixes above the level of 1.27300, the GBP/USD quotes are expected to grow further. The movement is tending to 1.27600-1.27800.

An alternative could be the fall of the GBP/USD currency pair to 1.26600-1.26400.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32684
  • Open: 1.32849
  • % chg. over the last day: +0.10
  • Day's range: 1.32783 – 1.32986
  • 52 wk range: 1.2727 – 1.3664

USD/CAD quotes have begun to recover after a prolonged decline. At the moment, Loonie is consolidating near the round level of 1.33000. The mark of 1.32700 acts as the local support. The USD/CAD currency pair has the potential to further correction. A negative dynamics of oil prices put additional pressure on the Canadian dollar. We recommend paying attention to the news feed from the United States. Positions must be opened from key levels.

Today, the publication of important economic reports from Canada is not planned.

USD/CAD

Indicators do not give accurate signals: the price has fixed between 50 MA and 200 MA.

The MACD histogram has moved to the positive zone, which indicates a further correction of the USD/CAD currency pair.

The Stochastic oscillator has reached the overbought zone, the %K line has crossed %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.32700, 1.32400, 1.32000
  • Resistance levels: 1.33000, 1.33450, 1.33650

If the price fixes above the round level of 1.33000, further correction of the USD/CAD quotes is expected. The movement is tending to 1.33400-1.33600.

An alternative could be the fall of the USD/CAD currency pair to 1.32500-1.32300.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.427
  • Open: 108.516
  • % chg. over the last day: +0.04
  • Day's range: 108.305 – 108.564
  • 52 wk range: 104.97 – 114.56

The USD/JPY currency pair continues to be traded in a prolonged flat. A unidirectional trend is not observed. Currently, local levels of support and resistance are 108.250 and 108.550, respectively. Financial market participants expect additional drivers. We recommend paying attention to statistics from the United States. Positions must be opened from key levels.

The news feed on the Japanese economy is calm today.

USD/JPY

Indicators do not give accurate signals: the price has crossed 50 MA.

The MACD histogram has started to decline, indicating the bearish sentiment.

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

Trading recommendations
  • Support levels: 108.250, 108.000, 107.850
  • Resistance levels: 108.550, 108.800, 109.200

If the price fixes below 108.250, the USD/JPY quotes are expected to fall. The movement is tending to 107.900-107.700.

An alternative could be the growth of the USD/JPY currency pair to 108.700-109.000.

by JustForex, 2019.06.12

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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