The Analytical Overview of the Main Currency Pairs on 2019.12.13

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11289
  • Open: 1.11501
  • % chg. over the last day: +0.48
  • Day's range: 1.11369 – 1.11992
  • 52 wk range: 1.0884 – 1.1623

The EUR/USD currency pair continues to show positive dynamics. EUR updated key extremes. Quotes are currently being consolidated. The trading tool found resistance at 1.11900. 1.11450 is already a mirror support. The ECB, as expected, kept the basic parameters of monetary policy at the same level. The mood of financial market participants improved amid positive news about the conclusion of the first stage of a trade agreement between Washington and Beijing. We recommend you to keep track of current information on this issue. Open positions from key levels.

At 15:30 (GMT+2:00), a report on US retail sales will be published.

EUR/USD

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

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

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates bullish sentiment.

Trading recommendations
  • Support levels: 1.11450, 1.11100, 1.10900
  • Resistance levels: 1.11900, 1.12300

If the price consolidates above the resistance level of 1.11900, expect further growth toward 1.12200-1.12400.

Alternatively, the quotes could drop toward 1.11200-1.11000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31964
  • Open: 1.33362
  • % chg. over the last day: +2.11
  • Day's range: 1.33362 - 1.35147
  • 52 wk range: 1.1959 - 1.3385

The GBP/USD currency pair is showing aggressive purchases. GBP has updated annual highs against the greenback. According to exit polls, the conservative party of Boris Johnson showed a landslide victory in the election. Currently, GBP/USD quotes are consolidating. The local support and resistance levels are 1.33400 and 1.34500, respectively. The trading instrument has the potential for further growth. We recommend opening positions from key levels.

The Economic News Feed for 13.12.2019 is calm.

GBP/USD

Indicators point to the power of buyers: the price is being traded 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 GBP/USD.

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

Trading recommendations
  • Support levels: 1.33400, 1.32300, 1.31650
  • Resistance levels: 1.34500, 1.35150

If the price consolidates above 1.34500, expect further growth toward 1.35250-1.35750.

Alternatively, the quotes could descend toward 1.32600-1.32300.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31723
  • Open: 1.31830
  • % chg. over the last day: +0.04
  • Day's range: 1.31507 - 1.31835
  • 52 wk range: 1.2727 - 1.3664

The USD/CAD currency pair is still dominated by a bearish sentiment. At the moment, quotes are testing key lows. Demand for CAD is supported by the positive dynamics of oil prices. The local support and resistance levels are: 1.31500 and 1.31750, respectively. The Canadian dollar has the potential for further growth relative to the US currency. Open positions from key levels.

The Economic News Feed for 13.12.2019 is calm.

USD/CAD

Indicators point to the power of sellers: the price is being traded 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 USD/CAD.

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

Trading recommendations
  • Support levels: 1.31500, 1.31200
  • Resistance levels: 1.31750, 1.32000, 1.32250

If the price consolidates below 1.31500, expect the quotes to descend toward 1.31200-1.31000

Alternatively, the quotes could correct toward 1.32000-1.32200.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.550
  • Open: 109.197
  • % chg. over the last day: +0.78
  • Day's range: 109.131 - 109.678
  • 52 wk range: 104.97 - 114.56

The USD/JPY currency pair is showing a steady uptrend. The trading tool has updated local highs. Demand for the safe haven currencies weakened amid positive news about the conclusion of the first phase of a trade agreement between Washington and Beijing. At the moment, USD/JPY quotes are consolidating in the range 109.400-109.700. We recommend that you pay attention to the dynamics of yield on US government bonds. Open positions from key levels.

Some controversial economic releases from Japan were published in the Asian trading session.

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 crossing the %D line. There are no exact signals.

Trading recommendations
  • Support levels: 109.400, 109.200, 108.950
  • Resistance levels: 109.700, 110.000

If the price consolidates above 109.700, expect the quotes to rise toward 110.000-110.200.

Alternatively, the quotes could descend toward 109.200-109.000.

by JustForex, 2019.12.13

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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