The Analytical Overview of the Main Currency Pairs on 2019.11.14

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10089
  • Open: 1.10063
  • % chg. over the last day: -0.02
  • Day's range: 1.09956 - 1.10110
  • 52 wk range: 1.0884 - 1.1623

The EUR/USD currency pair continues to show negative dynamics. EUR/USD quotes again updated local lows. The trading instrument is currently consolidating. The local support and resistance levels are: 1.09900 and 1.10150, respectively. Investors continue to monitor the trade conflict between the US and China. According to media reports, trade negotiations between Washington and Beijing stalled over the purchase of agricultural products. Today we expect important economic reports from the USA. We recommend opening positions from key levels.

The Economic News Feed for 14.11.2019:

  • - Preliminary report on GDP (EU) - 12:00 (GMT+2:00);
  • - Initial Jobless Claims (EU) – 15:30 (GMT+2:00);
  • - Manufacturer's Price Index (US) – 15:30 (GMT+2:00);

We also recommend paying attention to the speeches of the head of the Fed and representatives of the FOMC.

Germany published optimistic data on the country's GDP for the third quarter.

EUR/USD

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

The MACD histogram is in the negative zone and continues to decline, which indicates a bearish sentiment.

The Stochastic Oscillator has reached the oversold zone, the %K line is below the %D line, which gives a weak signal to sell EUR / USD.

Trading recommendations
  • Support levels: 1.09900, 1.09500
  • Resistance levels: 1.10250, 1.10400, 1.10600

If the price consolidates below 1.09900, expect the quotes to sell toward 1.09600-1.09400.

Alternatively, the quotes could grow toward 1.09600-1.09400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28488
  • Open: 1.28526
  • % chg. over the last day: +0.07
  • Day's range: 1.28250 - 1.28572
  • 52 wk range: 1.1959 - 1.3385

The GBP/USD currency pair continues to consolidate. Unidirectional trends are not observed. Sterling tests local support and resistance levels: 1.28200 and 1.28550, respectively. Market participants expect up-to-date information regarding the Brexit process. Today, investors will evaluate important statistics from the UK and the USA. The trading instrument can recover. Open positions from key levels.

At 11:30 (GMT+2:00), expect a report on retail sales in the UK.

GBP/USD

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

The MACD histogram has started to decline, which indicates a bearish mood.

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: 1.28200, 1.27900, 1.27700
  • Resistance levels: 1.28550, 1.28800, 1.29000

If the price consolidates above 1.28550, expect the quotes to rise toward 1.28800-1.29000.

Alternatively, expect the quotes to descend toward 1.27900-1.27700.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32319
  • Open: 1.32518
  • % chg. over the last day: +0.15
  • Day's range: 1.32485 - 1.32630
  • 52 wk range: 1.2727 - 1.3664

On the USD/CAD currency pair, a bullish sentiment still prevails. CAD is currently consolidating near monthly highs. The key support and resistance levels are 1.32350 and 1.32650, respectively. The trading instrument has the potential for further growth. We are expecting important economic releases from the USA. We also recommend paying attention to the dynamics of oil quotes. Open positions from key levels.

The Economic News Feed for 14.11.2019 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 and above the signal line, which gives a strong signal to buy USD/CAD.

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

Trading recommendations
  • Support levels: 1.32350, 1.32150, 1.31900
  • Resistance levels: 1.32650, 1.33000

If the price consolidates above 1.32650, expect further growth toward 1.33000.

Alternatively, the quotes can descend toward 1.32150-1.32000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.002
  • Open: 108.833
  • % chg. over the last day: -0.20
  • Day's range: 108.627 - 108.863
  • 52 wk range: 104.97 - 114.56

The USD/ PY currency pair went down. The trading tool has updated local lows. Demand for safe haven currencies resumed amid uncertainty in trade negotiations between Washington and Beijing, as well as a new wave of protests in Hong Kong. At the moment, USD/JPY quotes are consolidating in the range of 108.650-108.900. The yen has the potential for further growth relative to the USD. Today we recommend paying attention to the news background from the USA. Positions must be opened from key levels.

During the Asian trading session, Japan published a weak GDP report.

USD/JPY

The price fixed below 50 MA and 100 MA, which signals the strength of sellers.

The MACD histogram is in the negative zone and continues to decline, which indicates a bearish sentiment.

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

Trading recommendations
  • Support levels: 108.650, 108.500, 108.300
  • Resistance levels: 108.900, 109.150, 109.300

If the price consolidates below 108.650, expect the quotes to descend toward 108.200.

Alternatively, the quotes could grow toward 109.150-109.300.

by JustForex, 2019.11.14

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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