The Analytical Overview of the Main Currency Pairs on 2019.09.23

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10406
  • Open: 1.10068
  • % chg. over the last day: -0.21
  • Day's range: 1.10068 - 1.10254
  • 52 wk range: 1.0931 - 1.1817

The EUR/USD currency pair continues to trade in a protracted flat. The technical picture is still mixed. The trading instrument is currently consolidating. The local support and resistance levels are 1.09950 and 1.10300, respectively. Today, financial markets participants will evaluate a number of indicators of business activity in the eurozone. These statistics can have a significant impact on the dynamics of the single currency in the short term. We also recommend that you keep track of up-to-date information regarding trade negotiations between the US and China. Positions must be opened from key levels.

The Economic News Feed for 23.09.2019:

  • - statistics on business activity in Germany and the eurozone - 10:30 (GMT+3:00) and 11:00 (GMT+3:00), respectively;
  • - data on business activity in the USA - 16:45 (GMT+3:00).
EUR/USD

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

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR / USD.

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: 1.09950, 1.09650, 1.09450
  • Resistance levels: 1.10300, 1.10650, 1.10850

If the price consolidates above 1.10300, consider buying EUR/USD. The profits should be fixed at 1.10600-1.10800.

Alternatively, the quotes could decrease toward 1.09700-1.09500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.25217
  • Open: 1.24642
  • % chg. over the last day: -0.38
  • Day's range: 1.24430 - 1.24907
  • 52 wk range: 1.1995 - 1.3385

Last week, the pound reached three-month highs against the US dollar thanks to hopes that a hard Brexit could be avoided. European Commission President Jean-Claude Juncker said that the signing of the agreement between London and Brussels is still valid. At the moment, the GBP/USD currency pair has retreated from local highs. The trading instrument is consolidating in the range 1.24450-1.25000. In the near future, technical correction is not ruled out. We recommend opening positions from key levels.

The Economic News Feed for 23.09.2019 is calm.

GBP/USD

Indicators do not provide accurate signals, the price crossed 50 MA and 100 MA.

The MACD histogram is in the negative zone and continues to decline, which indicates the correction of the GBP/USD currency pair.

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

Trading recommendations
  • Support levels: 1.24450, 1.24000, 1.23650
  • Resistance levels: 1.25000, 1.25550, 1.25800

If the price consolidates below 1.24450, expect a correction toward 1.24000.

Alternatively, the quotes could grow toward 1.25400-1.25600.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32627
  • Open: 1.32593
  • % chg. over the last day: -0.02
  • Day's range: 1.32597 - 1.32776
  • 52 wk range: 1.2727 - 1.3664

The technical picture on the USD/CAD currency pair is still ambiguous. CAD is trading in a long flat. At the moment, the following local support and resistance levels can be distinguished: 1.32550 and 1.32900, respectively. Participants in financial markets expect additional drivers. We recommend to pay attention to the dynamics of prices of oil. Positions must be opened from key levels.

At 15:30 (GMT+3:00), Canada will publish a report on wholesale sales.

  • - Economic Event (CAD) – 00:00 (GMT+3:00);
  • - Economic Event (CAD) – 00:00 (GMT+3:00);
  • - Economic Event (CAD) – 00:00 (GMT+3:00);
USD/CAD

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 is below the %D line, which gives a signal to sell USD/CAD.

Trading recommendations
  • Support levels: 1.32550, 1.32350, 1.32100
  • Resistance levels: 1.32900, 1.33150

If the price consolidates below 1.32550, expect the quotes to fall toward 1.32300-1.32100.

Alternatively, the quotes could grow toward 1.33200-1.33400.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.013
  • Open: 107.713
  • % chg. over the last day: -0.43
  • Day's range: 107.607 - 107.753
  • 52 wk range: 104.97 - 114.56

The USD/JPY currency pair went down. The trading tool has updated local lows. At the moment, the safe haven currency is consolidating. Quotes found support at 107.550. 107.850 is a mirror resistance. The USD/JPY currency pair has the potential for further correction after a protracted rally. We recommend that you pay attention to the dynamics of yield on US government bonds. Positions must be opened from key levels.

Today, Japanese financial markets are closed due to the holiday.

  • - Economic Event (JPY) – 00:00 (GMT+3:00);
  • - Economic Event (JPY) – 00:00 (GMT+3:00);
  • - Economic Event (JPY) – 00:00 (GMT+3:00);
USD/JPY

Indicators point to the strength of sellers: the price has fixed below 50 MA and 100 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/JPY.

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: 107.550, 107.200
  • Resistance levels: 107.850, 108.100, 108.350

If the price consolidates below 107.550, expect further correction toward 107.300-107.100.

Alternatively, the quotes could grow toward 108.100-108.300.

by JustForex, 2019.09.23

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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