The Analytical Overview of the Main Currency Pairs on 2019.12.19

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11493
  • Open: 1.11128
  • % chg. over the last day: -0.31
  • Day's range: 1.11122 - 1.11326
  • 52 wk range: 1.0879 - 1.1572

The EUR/USD currency pair is still in sideways movement. The technical picture is ambiguous. Participants in financial markets expect additional drivers. At the moment, the local support and resistance levels are 1.11100 and 1.11350, respectively. We recommend you yo keep track of up-to-date information regarding trade negotiations between Washington and Beijing. Today, investors will evaluate important economic releases from the United States. You should open positions from key levels.

The Economic News Feed for 19.12.2019:

  • - The index of production activity from the Federal Reserve Bank of Philadelphia (US) - 15:30 (GMT+2:00);
  • - sales in the secondary housing market (US) – 17:00 (GMT+2:00);
EUR/USD

Indicatorsdo not give accurate signals: 50 MA has crossed 100 MA.

The MACD histogram has approached the 0 mark. There are no signals at the moment.

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

Trading recommendations
  • Support levels: 1.11100, 1.10900, 1.10600
  • Resistance levels: 1.11350, 1.11550, 1.11700

If the price consolidates above 1.11350, expect the quotes to ascend toward 1.11600-1.11800.

Alternatively, the quotes could drop toward 1.10800-1.10600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31253
  • Open: 1.30801
  • % chg. over the last day: -0.34
  • Day's range: 1.30705 – 1.30975
  • 52 wk range: 1.1959 – 1.3516

The GBP/USD currency pair has stabilized after a significant drop since the beginning of this week. Sterling is currently consolidating. The local support and resistance levels are: 1.30650 and 1.31350, respectively. Investors took a wait and see attitude before the meeting of the Bank of England. It is expected that the regulator will maintain the basic parameters of monetary policy at the same level. We recommend keeping track of up-to-date information regarding the Brexit process. Positions must be opened from key levels.

The Economic News Feed for 19.12.2019:

  • - Retail Sales Report (UK) – 11:30 (GMT+2:00);
  • - Decision on the Interest Rate from Bank of England (UK) – 14:00 (GMT+2:00);
GBP/USD

Indicators signal the power of sellers: the price has fixed 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 GBP/USD.

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

Trading recommendations
  • Support levels: 1.30650, 1.30300
  • Resistance levels: 1.31350, 1.32100, 1.33000

If the price consolidates below 1.30650, expect a further drop toward 1.30300-1.30000.

Alternatively, the quotes could grow toward 1.32000-1.32300.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31593
  • Open: 1.31140
  • % chg. over the last day: -0.34
  • Day's range: 1.31076 - 1.31197
  • 52 wk range: 1.3014 - 1.3664

USD/CAD has moved into a decline again. The trading tool has updated local lows. Looney is currently consolidating. The local support and resistance levels are 1.31000 and 1.31300, respectively. The Canadian dollar is supported by the positive dynamics of oil quotes. The USD/CAD currency pair has the potential for further decline. Today we recommend paying attention to statistics on the US economy. Open positions from key levels.

At 15:30 (GMT+2:00), a report on the volume of wholesale sales in Canada will be published.

USD/CAD

Indicators signal the power of sellers: the price has fixed 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 indicates a bearish sentiment.

Trading recommendations
  • Support levels: 1.31000, 1.30700
  • Resistance levels: 1.31300, 1.31500, 1.31800

If the price consolidates below the round level of 1.31000, expect the quotes to rise toward 1.30700-1.30500.

Alternatively, the quotes could grow toward 1.31500-1.31700.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.472
  • Open: 109.575
  • % chg. over the last day: +0.08
  • Day's range: 109.524 - 109.683
  • 52 wk range: 104.45 - 113.53

The USD/JPY currency pair continues to trade flat. Unidirectional trends are not observed. The trading tool tests local support and resistance levels: 109.400 and 109.650, respectively. USD/JPY quotes have the potential for further growth. We recommend that you pay attention to economic reports, as well as the dynamics of the yield of US government securities. Open positions from key levels.

The Bank of Japan, as expected, kept the basic parameters of monetary policy at the same level. The regulator has improved the forecast for Japan's GDP growth in 2020.

USD/JPY

Indicators do not give accurate signals: the price is consolidating near 50 MA and 100 MA.

The MACD histogram has approached the 0 mark.

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: 109.400, 109.250, 109.050
  • Resistance levels: 109.650, 110.000

If the price consolidates above 109.650, expect a further growth toward 110.000-110.200.

Alternatively, the quotes could drop toward 109.250-109.100.

by JustForex, 2019.12.19

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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