The Analytical Overview of the Main Currency Pairs on 2019.12.10

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10582
  • Open: 1.10638
  • % chg. over the last day: +0.05
  • Day's range: 1.10694 - 1.10750
  • 52 wk range: 1.0884 - 1.1623

During yesterday's trading, the EUR/USD currency pair remained virtually unchanged. Investors took a wait and see attitude before the Fed meeting, which will take place tomorrow. At the meeting, the regulator will decide on the key interest rate. The interest rate is expected to remain unchanged at 1.75-2.00%. At the moment, the key support and resistance levels are 1.106000 and 1.10800, respectively. Open positions from these marks.

The Economic News Feed for 10.12.2019:

  • - ZEW economic sentiment index (GER) – 12:00 (GMT+2:00);
EUR/USD

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

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

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

Trading recommendations
  • Support levels: 1.10600, 1.10350, 1.10000
  • Resistance levels: 1.10800, 1.11050

If the price consolidates below the level of 1.10600, expect a descend to the level of 1.10350-1.10200.

If the price consolidates above the resistance level of 1.10800, the growth of the EUR/USD currency pair is expected. The potential movement is to 1.11050-1.11300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31350
  • Open: 1.31391
  • % chg. over the last day: +0.05
  • Day's range: 1.31327 – 1.31521
  • 52 wk range: 1.1959 – 1.3385

The trading instrument GBP/USD is consolidating. The technical picture is ambiguous. Investors expect additional drivers. Today UK will be publish a report on GDP. At the moment, the key support level is 1.31350. The key resistance level is 1.31700. We recommend opening positions from these marks.

The Economic News Feed for 10.12.2019:

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

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

The MACD histogram is near the 0 mark, there are no signals.

The Stochastic Oscillator is in the neutral zone, the %K line crosses the %D line. There are no signals.

Trading recommendations
  • Support levels: 1.31350, 1.31000, 1.30650
  • Resistance levels: 1.31700, 1.32000

If the price consolidates above 1.31700, expect the quotes to rise toward 1.32000.

Alternatively, the quotes could decline toward 1.31000.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32520
  • Open: 1.32366
  • % chg. over the last day: -0.10
  • Day's range: 1.32259 - 1.32322
  • 52 wk range: 1.2727 - 1.3664

The USD/CAD currency pair has an ambiguous technical picture. The trading instrument is in lateral movement. Investors expect additional drivers. The local support and resistance levels are 1.32150 and 1.32500, respectively. We recommend paying attention to the dynamics of oil prices. Open positions from key levels.

The Economic News Feed for 10.12.2019 is calm.

USD/CAD

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

The MACD histogram is near the 0 mark, there are no signals.

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

Trading recommendations
  • Support levels: 1.32150, 1.31800, 1.31500
  • Resistance levels: 1.32500, 1.32850

If the price consolidates above 1.32500, expect the quotes to rise toward 1.32850-1.33000.

Alternatively, the quotes could descend toward 1.31800-1.31650.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.748
  • Open: 108.553
  • % chg. over the last day: -0.06
  • Day's range: 108.567 – 108.597
  • 52 wk range: 104.97 – 114.56

The USD/JPY currency pair has an ambiguous technical picture. Quotes are moving in a flat. At the moment, the key support and resistance levels are still 108.450 and 108.650, respectively. We recommend that you pay attention to the dynamics of yield on US government bonds. Open positions from key levels.

The Economic News Feed for 10.12.2019 is calm.

USD/JPY

Indicatorsdo not give accurate signals: the price has crossed 50 MA.

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

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

Trading recommendations
  • Support levels: 108.450, 108.250
  • Resistance levels: 108.650, 108.850, 109.150

f the price consolidates below 108.450, expect the quotes to fall toward 108.250-108.100.

Alternatively, the quotes could grow toward 108.850-109.000.

by JustForex, 2019.12.10

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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