The Analytical Overview of the Main Currency Pairs on 2019.11.11

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10490
  • Open: 1.10222
  • % chg. over the last day: -0.29
  • Day's range: 1.10165 - 1.10292
  • 52 wk range: 1.0884 - 1.1623

Last week, the USD has grown significantly against its main competitors. The drop of EUR/USD quotes exceeded 150 points. At the moment, the trading instrument has stabilized. The local support and resistance levels are 1.10150 and 1.10400, respectively. Concerns over the conclusion of a trade deal between the US and China have resumed. On Friday, US President Donald Trump said he did not agree to abolish duties on Chinese imports. We recommend that you keep track of current information on this issue. In the near future, technical correction of the EUR/USD currency pair is not ruled out. Open positions from key levels.

The Economic News Feed for 11.11.2019 is calm.

EUR/USD

Indicators signal the power 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 EUR/USD.

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

Trading recommendations
  • Support levels: 1.10150, 1.10000, 1.09600
  • Resistance levels: 1.10400, 1.10600, 1.10900

If the price consolidates below 1.10150, expect the quotes to fall toward 1.09800-1.09700.

Alternatively, the quotes could correct toward 1.10600-1.10800.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28130
  • Open: 1.27937
  • % chg. over the last day: -0.33
  • Day's range: 1.27841 - 1.28096
  • 52 wk range: 1.1959 - 1.3385

The GBP/USD currency pair stabilized after a significant drop last week. At the moment, a unidirectional trend is not observed. Investors expect additional drivers. The key support and resistance levels are: 1.27700 and 1.28200, respectively. We recommend keeping track of up-to-date information regarding the Brexit process. This week a series of important statistics on the UK economy will be published, which may have a significant impact on the dynamics of the pound. Positions must be opened from key levels.

The Economic News Feed for 11.11.2019:

  • - GDP Report (UK) – 11:30 (GMT+2:00);
  • - Manufacturing Production Volume (UK) – 11:30 (GMT+2:00);
GBP/USD

Indicators do not give accurate signals. The price approached 50 MA, which at the moment is a strong dynamic resistance.

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

The Stochastic Oscillator is located near the overbought zone, the %K line is above the %D line, which indicates bullish sentiment.

Trading recommendations
  • Support levels: 1.27700, 1.27500
  • Resistance levels: 1.28200, 1.28600, 1.28900

If the price consolidates below 1.27700, expect a further drop toward 1.27500-1.27300.

Alternatively, the quotes could grow toward 1.28500-1.28700.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31734
  • Open: 1.32184
  • % chg. over the last day: +0.44
  • Day's range: 1.32181 - 1.32343
  • 52 wk range: 1.2727 - 1.3664

A bullish sentiment prevails on the USD/CAD currency pair. The trading instrument has set new local highs. Looney is currently consolidating. Investors expect additional drivers. The local support and resistance levels are 1.32100 and 1.32350, respectively. USD/CAD can grow further. Pay attention to the dynamics of oil quotes. Open positions from key levels.

The Economic News Feed for 11.11.2019 is calm.

USD/CAD

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

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

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which points to a bearish sentiment.

Trading recommendations
  • Support levels: 1.32100, 1.31900, 1.31600
  • Resistance levels: 1.32350, 1.32600, 1.32800

If the price consolidates above 1.32350, expect further growth toward 1.32600-1.32800.

Alternatively, the quotes could descend toward 1.31900-1.31600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.277
  • Open: 109.195
  • % chg. over the last day: -0.03
  • Day's range: 108.915 - 109.254
  • 52 wk range: 104.97 - 114.56

The USD/JPY currency pair went down. The trading tool has updated local lows. Uncertainty regarding the settlement of the trade conflict between Washington and Beijing has resumed again, which has caused an increase in demand for the safe haven currencies. At the moment, USD / JPY quotes are consolidating in the range of 108.850-109.150. The yen has the potential for further growth against the US dollar. We recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.

The Economic News Feed for 11.11.2019 is calm.

USD/JPY

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

The MACD histogram has moved into the negative zone, which points to a bearish sentiment.

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: 108.850, 108.650, 108.500
  • Resistance levels: 109.150, 109.450, 109.700

If the price consolidates below 108.850, expect the quotes to fall toward 108.650-108.500.

Alternatively, the quotes could grow toward 109.400-109.600.

by JustForex, 2019.11.11

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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