The Analytical Overview of the Main Currency Pairs on 2019.06.27

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13665
  • Open: 1.13677
  • % chg. over the last day: +0.02
  • Day's range: 1.13478 – 1.13748
  • 52 wk range: 1.1111 – 1.2009

The EUR/USD stabilized after a rather long rally. The trading instrument is consolidating. Local levels of support and resistance are 1.13400 and 1.13750. Concerns about an aggressive reduction in interest rates (by 50 basis points) dropped significantly after the comments of Fed Chairman Jerome Powell on Tuesday. At the same time, more than 75% of financial market participants believe that the regulator will reduce the range of key interest rate by 25 basis points to 2.00% -2.25% at a meeting in July. Investors took a wait-and-see stance before the G20 summit, at which the leaders of the United States and China should once again discuss trade disputes. Recall that the G20 summit will be held in Osaka from 28 to 29 June. Today we recommend to pay attention to economic releases from the USA. Positions must be opened from key levels.

The Economic News Feed for 27.06.2019:

  • - GDP report (US) – 15:30 (GMT+3:00);
  • - Unfinished Real Estate Sales Index (US) – 17:00 (GMT+3:00);
EUR/USD

The indicators do not provide precise signals, the price has crossed 50 MA and 100 MA.

The MACD histogram is close to 0.

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: 1.13400, 1.13100, 1.12700
  • Resistance levels: 1.13750, 1.14100, 1.14500

If the price fixes below 1.13400, expect further correction towards 1.13100-1.12800.

Alternatively, the quotes can grow towards 1.14100-1.14400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26861
  • Open: 1.26840
  • % chg. over the last day: -0.02
  • Day's range: 1.26743 – 1.26973
  • 52 wk range: 1.2438 – 1.3631

An ambiguous technical picture emerged on the GBP/USD currency pair. Streling is trading in a flat. GBP/USD quotes test local support and resistance levels: 1.26650 and 1.27150, respectively. Boris Johnson, the main contender for the post of Prime Minister of the United Kingdom, said that he was “serious” about withdrawing Britain from the EU by October 31 without concluding a deal if the block refuses to negotiate a new withdrawal agreement. We recommend to keep track of current information on the issue of Brexit. The trading instrument has the potential for further correction. Positions must be opened from key levels.

The Economic News Feed for 27.06.2019 is calm.

GBP/USD

The indicators do not provide precise signals, 50 MA has crossed 100 MA.

The MACD histogram is close to 0.

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

Trading recommendations
  • Support levels: 1.26650, 1.26400, 1.26000
  • Resistance levels: 1.27150, 1.27600, 1.27850

If the price fixes below 1.26650, expect further correction towards 1.26300-1.26000.

Alternatively, the quotes can grow towards 1.27500-1.27700.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31687
  • Open: 1.31258
  • % chg. over the last day: -0.37
  • Day's range: 1.31173 – 1.31380
  • 52 wk range: 1.2727 – 1.3664

The USD/CAD has once again moved to a decline. Yesterday, the drop in quotes exceeded 50 points, CAD updated the key lows. At the moment, the trading instrument is consolidating. The quotes found support at 1.31100. Mark 1.31600 is already a "mirror" resistance. The pair has the potential to decline further. Additional support for the Canadian dollar is caused by a positive trend in prices for oil. Open positions from key levels.

The Economic News Feed for 27.06.2019:

USD/CAD

The price fixed below 50 MA and 100 MA which points to the power of the sellers.

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 overbought zone, the %K line is crossing the %D line. There are no signals.

Trading recommendations
  • Support levels: 1.31100, 1.31000, 1.30600
  • Resistance levels: 1.31600, 1.32000, 1.32250

If the price fixed below 1.31100, expect further descend towards 1.30800-1.30600.

Alternatively, the quotes can correct towards 1.32000-1.32250.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.170
  • Open: 107.776
  • % chg. over the last day: +0.52
  • Day's range: 107.647 – 108.132
  • 52 wk range: 104.97 – 114.56

The USD / JPY currency pair shows a positive trend. The trading instrument has updated local maxima. At the moment, the quotes are testing the key resistance level of 108.100. 107.750 is already a "mirror" support. The USD/JPY currency pair has the potential for further recovery. We recommend to pay attention to economic releases from the United States. Positions must be opened from key levels.

The Economic News Feed for 27.06.2019 is calm.

USD/JPY

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 abov the signal line which gives a strong signal to buy USD/JPY.

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

Trading recommendations
  • Support levels: 107.750, 107.500, 107.100
  • Resistance levels: 108.100, 108.450, 108.700

If the price fixes above 108.100, expect further growth towards 108.400-108.600.

Alternatively, the quotes can fall towards 107.500-107.300.

by JustForex, 2019.06.27

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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