The Analytical Overview of the Main Currency Pairs on 2019.06.18

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12094
  • Open: 1.12179
  • % chg. over the last day: +0.08
  • Day's range: 1.12178 – 1.12394
  • 52 wk range: 1.1111 – 1.2009

EUR/USD stabilized after a sharp descend at the end of last week. Right now the quotes are consolidating in the 1.12150-1.12400 range. The market participants are waiting for the Federal Reserve meeting. Some experts expect Jerome Powell to use this meeting as a signal for lowering the interest rate next year. Consider today`s economic releases and open positions from the key levels.

The Economic News Feed for 18.06.2019:

  • - Economic Mood Index by ZEW (GER) – 12:00 (GMT+3:00);
  • - Inflation Report (EU) – 12:00 (GMT+3:00);
  • - Real Estate Market Report (US) – 15:30 (GMT+3:00);
EUR/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 overbought zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.12150, 1.12000
  • Resistance levels: 1.12400, 1.12700, 1.12850

If the price fixes below 1.12150, expect the quotes to descend towards 1.11800-1.11600.

Alternatively, the quotes can recover towards 1.12600-1.12800.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.25798
  • Open: 1.25318
  • % chg. over the last day: -0.42
  • Day's range: 1.25116 – 1.25441
  • 52 wk range: 1.2438 – 1.3631

GBP/USD shows a clear descending trend. The GBP is consolidating near the annual minimums. The local support and resistance levels are 1.25150 and 1.25500. GBP can descend further. Boris Johnson can replace Theresa May as an acting Prime Minister due to having the most support by far as a potential leader of the Conservative party. Earlier the official promised to remove the UK from the EU with agreement or without it by October 31. You should open positions from the key levels.

The Economic News Feed for 18.06.2019 is calm.

GBP/USD

The indicators point to the power of the buyers, the price fixed below 50 MA and 100 MA.

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

The Stochastic Oscillator is in the neutral zone.

Trading recommendations
  • Support levels: 1.25150, 1.25000, 1.24600
  • Resistance levels: 1.25500, 1.25800, 1.26100

If the price fixes below 1.25150 expect further descend towards 1.24700-1.24500.

Alternatively, the quotes can correct towards 1.25800-1.26000.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.34068
  • Open: 1.34121
  • % chg. over the last day: +0.03
  • Day's range: 1.34005 – 1.34127
  • 52 wk range: 1.2727 – 1.3664

USD/CAD stabilized after sharp growth last week. There is no defined trend, the quotes are consolidating around 1.34000. The pressure on the CAD is calused by the negative oil quotes. The trading instrument can grow further, you should open positions from the key levels.

The Economic News Feed for 18.06.2019 is calm.

USD/CAD

The price fixed above 50 MA and 100 MA which points to the power of the buyers.

The MACD histogram is close to 0. There are no signals at the moment.

The Stochastic Oscillator is in the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.33900, 1.33650, 1.33450
  • Resistance levels: 1.34200, 1.34500

If the price fixes above 1.34200, expect further growth around 1.34500-1.34700.

Alternatively, the quotes can descend towards 1.33600-1.33400.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.497
  • Open: 108.523
  • % chg. over the last day: +0.03
  • Day's range: 108.252 – 108.583
  • 52 wk range: 104.97 – 114.56

USD/JPY keeps trading in a long flat. There is no defined trend. The local support and resistance are 108.200 and 108.450. The investors are waiting for additional drivers. Keep an eye on the US Treasury bonds' yield and open positions from the key levels.

The Economic News Feed for 18.06.2019:

USD/JPY

The indicators do not provide precise signals, 50 MA is crossing 100 MA.

The MACD histogram is in the negative zone and keeps descending which points to the bearish mood.

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

Trading recommendations
  • Support levels: 108.200, 108.000, 107.850
  • Resistance levels: 108.450, 108.700, 108.800

If the price fixes below 108.200, expect further descend towards 108.000-107.850.

Alternatively, the quotes can grow towards 108.600-108.800.

by JustForex, 2019.06.18

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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