The Analytical Overview of the Main Currency Pairs on 2019.11.28

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10157
  • Open: 1.09992
  • % chg. over the last day: -0.14
  • Day's range: 1.10056 - 1.10126
  • 52 wk range: 1.0884 - 1.1623

The EUR/USD currency pair is still consolidating. There is no defined trend. The local support and resistance levels are 1.10000 and 1.10250, respectively. Mixed US economic data was released yesterday. Thus, US GDP (q/q) grew in the third quarter by 2.1% instead of the expected growth of 1.9%. The number of initial applications for unemployment benefits fell to 213K instead of 223K. However, the index of incomplete sales in the real estate market fell in October by 1.7%, while experts expected an increase of 0.2%. According to the Beige Book, the US economy is growing at a moderate pace. Today, volatility is reduced as US financial markets are closed due to Thanksgiving. We recommend opening positions from key levels.

The Economic News Feed for 28.11.2019 is calm.

EUR/USD

The indicators do not give accurate signals: the price crossed 50 MA.

The MACD histogram is near the 0 mark, which also does not give signals.

Stochastic Oscillator is near the overbought zone, the %K line is above the %D line, which gives a weak signal to buy EUR/USD.

Trading recommendations
  • Support levels: 1.10000, 1.09850
  • Resistance levels: 1.10250, 1.10500, 1.10800

If the price consolidates below the round level of 1.10000, expect the quotes to fall toward 1.09700-1.09600.

Alternatively, the quotes could grow toward 1.10400-1.10600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28542
  • Open: 1.28542
  • % chg. over the last day: +0.49
  • Day's range: 1.28332 - 1.28464
  • 52 wk range: 1.1959 - 1.3385

The GBP/USD currency pair began to win back losses. During yesterday's and today's trading, GBP/USD quotes rose by more than 85 points. This movement is largely due to technical factors. Market participants are waiting for new information regarding the Brexit process. At the moment, the key support and resistance levels are: 1.29200 and 1.29500, respectively. We recommend opening positions from these marks. GBP can grow further.

The Economic News Feed for 28.11.2019 is calm.

GBP/USD

Indicators point to the power of buyers: the price is trading above 50 MA and 100 MA.

The MACD histogram is in the positive zone and above the signal line, which gives a strong signal to buy GBP/USD.

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

Trading recommendations
  • Support levels: 1.29200, 1.28950, 1.28700
  • Resistance levels: 1.29500, 1.29800

If the price consolidates above 1.29500, expect further growth toward 1.30000.

Alternatively, the quotes could descend toward 1.28950-1.28700.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32712
  • Open: 1.32821
  • % chg. over the last day: +0.11
  • Day's range: 1.32900 - 1.32949
  • 52 wk range: 1.2727 - 1.3664

The technical picture on the USD/CAD currency pair is still ambiguous. CAD is trading in a protracted flat. At the moment, the local support and resistance levels are: 1.32800 and 1.33000, respectively. Participants in financial markets expect additional drivers. Today, volatility will be reduced due to the holiday in the United States. We recommend paying attention to the dynamics of oil quotes. Open positions from key levels.

The Economic News Feed for 28.11.2019 is calm.

USD/CAD

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

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 crosses %D. There are no signals at this moment.

Trading recommendations
  • Support levels: 1.32800, 1.32650, 1.32400
  • Resistance levels: 1.33000, 1.33200, 1.33350

If the price consolidates above the round level of 1.33000, expect further growth toward 1.33200-1.33400.

Alternatively, the quotes could descend toward 1.32600-1.32400.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.034
  • Open: 109.549
  • % chg. over the last day: +0.30
  • Day's range: 109.374 - 109.446
  • 52 wk range: 104.97 - 114.56

The USD/JPY currency pair continued to rise. The trading tool again updated local highs. At the moment, USD/JPY quotes are consolidating. The key support and resistance levels are 109.350 and 109.600, respectively. In the near future, technical correction is possible. We recommend you to keep track of current information regarding trade negotiations between the United States and China. Open positions from key levels.

The Economic News Feed for 28.11.2019 is calm.

USD/JPY

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

The MACD histogram is 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 below the %D line, which gives a signal to sell USD/JPY.

Trading recommendations
  • Support levels: 109.350, 109.200, 109.050
  • Resistance levels: 109.600, 110.000

If the price consolidates above 109.600, expect further growth toward 110.000.

If the USD/JPY quotes fall below 109.350, the quotes will reach 109.200-109.000.

by JustForex, 2019.11.28

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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