The Analytical Overview of the Main Currency Pairs on 2019.06.24

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12942
  • Open: 1.13704
  • % chg. over the last day: +0.67
  • Day's range: 1.13657 – 1.13863
  • 52 wk range: 1.1111 – 1.2009

EUR\USD remains in a bullish mood. Last week, the euro updated key extremes and reached three-month highs. The demand for Greenback has weakened significantly since the Fed meeting. The regulator is ready to consider the question of lowering interest rates at upcoming meetings. Additional support for the single currency provide positive data on business activity in the euro area, which were published on Friday. At the moment, EUR/USD quotes are consolidating. Local levels of support and resistance are 1.13550 and 1.13850, respectively. Trading instrument has the potential for further growth. Positions must be opened from key levels.

The Economic News Feed for 24.06.2019:

  • - IFO Business climate index (EU) – 00:00 (GMT+3:00);
EUR/USD

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

The MACD histogram is in the positive zone but below the key line which gives a weak signal t buy EUR\USD

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points to a correction of EUR\USD.

Trading recommendations
  • Support levels: 1.13550, 1.13400, 1.13100
  • Resistance levels: 1.13850, 1.14000, 1.14400

If the price fixes above 1.13850, expect a growth towards 1.14200-1.14400.

Alternatively, the quotes can correct towards 1.13200-1.14400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27033
  • Open: 1.27328
  • % chg. over the last day: +0.32
  • Day's range: 1.27297 – 1.27595
  • 52 wk range: 1.2438 – 1.3631

GBP/USD shows a steady uptrend. Currently, sterling is consolidating near monthly highs. GBP/USD quotes are testing local resistance at 1.27600. 1.27250 is already a "mirror" support. Demand for the USD remains at a fairly low level. Trading instrument has the potential for further growth. We recommend to keep track of current information on the issue of Brexit. Positions must be opened from key levels.

The Economic News Feed for 24.06.2019 is calm.

GBP/USD

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

The MACD histogram is in the positive zone and keeps rising which gives a strong signal to buy 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: 1.27250, 1.26750, 1.26450
  • Resistance levels: 1.27600, 1.28000

If the price fixes above 1.27600, expect further growth towards 1.28000.

Alternatively, the quotes can descend towards 1.26900-1.26600.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31897
  • Open: 1.32137
  • % chg. over the last day: +0.24
  • Day's range: 1.31817 – 1.32164
  • 52 wk range: 1.2727 – 1.3664

USD/CAD continues to consolidate. There is no unidirectional trend. CAD is testing local supply and demand zones: 1.31500-1.31750 and 1.32250-1.32500, respectively. USD/CAD quotes can decline further. Additional support for the CAD is provided by the positive dynamics of oil prices. Positions must be opened from key levels.

The Economic News Feed for 24.06.2019 is calm.

USD/CAD

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

The MACD histogram started to descend 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: 1.31750, 1.31500, 1.31200
  • Resistance levels: 1.32250, 1.32500, 1.33000

If the price fixes below 1.31750, expect further descend towards 1.31400-1.31200.

Alternatively, the quotes can grow towards 1.32600-1.32800.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.288
  • Open: 107.304
  • % chg. over the last day: +0.02
  • Day's range: 107.266 – 107.481
  • 52 wk range: 104.97 – 114.56

The USD / JPY currency pair stabilized after a sharp decline last week. The technical picture is ambiguous. At the moment, the USD / JPY quotes are consolidating. Local levels of support and resistance are: 107.250 and 107.500, respectively. The yen has the potential for further growth against the US dollar. We recommend to pay attention to the dynamics of the yield of US government securities. Positions must be opened from key levels.

The Economic News Feed for 24.06.2019 is calm.

USD/JPY

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

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

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

Trading recommendations
  • Support levels: 107.250, 107.000
  • Resistance levels: 107.500, 107.700, 107.850

If the price fixes below 107.250, expect further descend towards 107.000-106.800.

Alternatively, the quotes can grow towards 107.800-108.000.

by JustForex, 2019.06.24

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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