The Analytical Overview of the Main Currency Pairs on 2019.11.21

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10774
  • Open: 1.10731
  • % chg. over the last day: -0.01
  • Day's range: 1.10724 - 1.10794
  • 52 wk range: 1.0884 - 1.1623

Major currency pairs have stabilized. Investors expect additional drivers. According to the FOMC minutes, the Fed will not need to further reduce its key interest rate unless significant changes in the economy occur. Recall that in the current year, the regulator lowered its key interest rate three times. At the moment, the indicator is at the level of 1.50% -1.75%. Doubts about the settlement of the trade conflict between Washington and Beijing intensified amid the tense situation in Hong Kong. We recommend you to keep track of current information on this issue. Today, financial market participants will evaluate a number of important economic releases. Currently, EUR/USD quotes are consolidating in the range of 1.10650-1.10850. Positions must be opened from these marks.

The Economic News Feed for 21.11.2019:

  • - ECB Monetary Policy Meeting Minutes (EU) – 14:30 (GMT+2:00);
  • - Initial Jobless Claims (US) – 15:30 (GMT+2:00);
  • - Manufacturing PMI from Philadelphia's Fed (US) – 15:30 (GMT+2:00);
  • - Secondary Real-Estate Sales Report (US) – 17:00 (GMT+2:00);
EUR/USD

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

The MACD histogram is close to 0.

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

Trading recommendations
  • Support levels: 1.10650, 1.10550, 1.10400
  • Resistance levels: 1.10850, 1.11000, 1.11250

If the price consolidates above 1,10850, expect further growth toward 1.11200-1.11400.

Alternatively, the quotes could descend toward 1.10400-1.10200.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29241
  • Open: 1.29222
  • % chg. over the last day: -0.01
  • Day's range: 1.29103 - 1.29325
  • 52 wk range: 1.1959 - 1.3385

An ambiguous technical pattern has developed on the GBP/USD currency pair. Sterling is currently consolidating. GBP / USD quotes test the resistance level of 1.29300. 1.28900 is a key support. Market participants expect up-to-date information regarding the Brexit process. Today, investors will evaluate important statistics on the US economy. Open positions from key levels.

The Economic News Feed for 21.11.2019 is calm.

GBP/USD

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

The MACD histogram has moved into the positive zone, which indicates the development of bullish sentiment.

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

Trading recommendations
  • Support levels: 1.28900, 1.28650, 1.28350
  • Resistance levels: 1.29300, 1.29700, 1.29850

If the price consolidates above 1.29300, expect the quotes to rise toward 1.29600-1.30000.

Alternatively, the quotes can descend toward 1.28700-1.28500.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32663
  • Open: 1.33026
  • % chg. over the last day: +0.27
  • Day's range: 1.33017 - 1.33220
  • 52 wk range: 1.2727 - 1.3664

The USD/CAD currency pair has stabilized after a sharp rally since the beginning of this week. Looney is currently consolidating. Unidirectional trends are not observed. The local support and resistance levels are: 1.33000 and 1.33250, respectively. In the near future, technical correction of the trading instrument is not ruled out. Today we recommend you to pay attention to the news background on the US economy, as well as the dynamics of prices of black gold. Open positions from key levels.

At 15:40 (GMT + 2: 00) a speech will be held by the head of the Bank of Canada.

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 crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.33000, 1.32800, 1.32550
  • Resistance levels: 1.33250, 1.33500

If the price consolidates above 1.33250, expect further growth toward 1.33500-1.33700.

Alternatively, the quotes could descend toward 1.32800-1.32600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.539
  • Open: 108.580
  • % chg. over the last day: -0.06
  • Day's range: 108.278 - 108.671
  • 52 wk range: 104.97 - 114.56

The technical picture on the USD/JPY currency pair is still ambiguous. The trading instrument continues to consolidate. There is no defined trend. At the moment, the following local support and resistance levels can be distinguished: 108.450 and 108.700. Demand for “safe haven” currencies remains at a fairly high level. Today we expect the release of important economic reports from the United States. Open positions from key levels.

The Economic News Feed for 21.11.2019 is calm.

USD/JPY

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

The MACD histogram is close to 0.

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: 108.450, 108.250, 108.000
  • Resistance levels: 108.700, 108.900, 109.050

If the price consolidates below 108.450, expect the quotes to fall toward

Alternatively, the quotes could grow toward 108.900-109.100.

by JustForex, 2019.11.21

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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