The Analytical Overview of the Main Currency Pairs on 2019.07.26

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11408
  • Open: 1.11461
  • % chg. over the last day: +0.04
  • Day's range: 1.11424 – 1.11509
  • 52 wk range: 1.1111 – 1.2009

Yesterday, EUR/USD had high trading activity and volatility were observed. The ECB, as expected, kept the main parameters of monetary policy at the same level. The trading instrument retreated from two-month lows, disappointing some market participants who made a weakening bet. The head of the Central Bank, Mario Draghi, said that the interest rates would remain at or below the level until at least the end of the first half of 2020. At the moment, the EUR/USD quotes are consolidating in the range of 1.11300-1.11550. Today, investors will evaluate important statistics from the United States. Positions must be opened from these marks.

At 15:30 (GMT+3:00) the US will publish a GDP report.

EUR/USD

Indicators do not give accurate signals: the price crossed 50 MA and 100 MA.

The MACD histogram is near 0.

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

Trading recommendations
  • Support levels: 1.11300, 1.11000
  • Resistance levels: 1.11550, 1.11850, 1.12100

If the price consolidates below 1.11300, expect a further devline toward 1.11000-1.10800.

Alternatively, the quotes can correct toward 1.12000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.24828
  • Open: 1.24440
  • % chg. over the last day:-0.24
  • Day's range: 1.24257 - 1.24596
  • 52 wk range: 1.2397 - 1.3385

The bearish mood prevails on the GBP/USD currency pair. During yesterday's and today's trading, the drop in quotes exceeded 50 points. The pound has updated local lows. At the moment, the key range is 1.24200-1.24550. GBP/USD quotes have the potential to further decline. Investors are concerned about the “tough” Brexit scenario. Today, financial market participants will evaluate the US GDP report. We recommend to open positions from key levels.

The news background on the UK economy is calm.

GBP/USD

Indicators of accurate signals do not give: 50 MA crossed 100 MA.

The MACD histogram is in the negative zone and continues to decline, indicating a drop in GBP/USD quotes.

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

Trading recommendations
  • Support levels: 1.24200, 1.23850
  • Resistance levels: 1.24550, 1.24900, 1.25200

If the price consolidates below 1.24200, expect a further descend toward 1.23850-1.23600.

Alternatively, the price will grow toward 1.24800-1.25000.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31395
  • Open: 1.31556
  • % chg. over the last day: +0.14
  • Day's range: 1.31528 - 1.31683
  • 52 wk range: 1.2727 - 1.3664

The USD/CAD currency pair has once again shifted to growth. CAD updated local maxima. At the moment, the USD/CAD quotes are consolidating near the resistance level of 1.31700. 1.31450 is already a "mirror" support. Trading instrument has the potential for further growth. Financial market participants expect a report on US GDP. We also recommend to pay attention to the dynamics of oil prices. Positions must be opened from key levels.

The Economic News Feed for 26.07.2019 is calm.

USD/CAD

Indicators indicate the strength of buyers: the price has fixed above 50 MA and 100 MA.

The MACD histogram is in the positive zone and continues to rise, which signals a further increase in the USD/CAD quotes.

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

Trading recommendations
  • Support levels: 1.31450, 1.31200, 1.30950
  • Resistance levels: 1.31700, 1.32000

If the price fixes above 1.31700, expect further growth toward 1.32000-1.32200.

Alternatively, the price will drop toward 1.31200-1.31000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.177
  • Open: 108.648
  • % chg. over the last day: +0.45
  • Day's range: 108.561 - 108.742
  • 52 wk range: 104.97 - 114.56

The USD/JPY currency pair shows a positive trend. Trading tool updated key extremes. At the moment, the USD/JPY quotes are consolidating. Local levels of support and resistance are: 108.500 and 108.750, respectively. We expect statistics on US GDP. We also recommend tracking up-to-date information regarding trade negotiations between the US and China. USD/JPY quotes have the potential for further growth. Positions must be opened from key levels.

The Economic News Feed for 26.07.2019 is calm.

USD/JPY

The price has fixed above 50 MA and 100 MA, which indicates the strength of buyers.

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

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

Trading recommendations
  • Support levels: 108.500, 108.250, 108.000
  • Resistance levels: 108.750, 109.000

If the price consolidates above the level of 108.750, expect further growth toward 109.000-109.200.

Alternatively, the quotes can descend toward 108.300-108.100.

by JustForex, 2019.07.26

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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