The Analytical Overview of the Main Currency Pairs on 2019.12.23

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11215
  • Open: 1.10785
  • % chg. over the last day: -0.39
  • Day's range: 1.10730 - 1.10864
  • 52 wk range: 1.0879 - 1.1572

The EUR/USD currency pair went down. The trading tool has updated local lows. The demand for USD rose after optimistic US GDP data came out. Currently, EUR/USD quotes are consolidating in the range of 1.10650-1.10900. The American currency has the potential for further growth. This week, trading activity and volatility may be reduced due to the Christmas holidays. Investors expect up-to-date information regarding trade negotiations between Washington and Beijing. We recommend opening positions from key levels.

The Economic News Feed for 23.12.2019:

  • - Data on orders for durable goods (US) – 15:30 (GMT+2:00);
  • - New Real Estate Sales (US) – 17:00 (GMT+2:00);
EUR/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 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: 1.10650, 1.10300
  • Resistance levels: 1.10900, 1.11100, 1.11300

If the price consolidates below 1.10650, expect the quotes to fall further toward 1.10400-1.10200.

Alternatively, the quotes could grow toward 1.11200-1.11400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30083
  • Open: 1.30007
  • % chg. over the last day: -0.01
  • Day's range: 1.29865 - 1.30245
  • 52 wk range: 1.1959 - 1.3516

The GBP / USD currency pair stabilized after a significant drop last week. The pound lost in price against the US dollar more than 340 points. Currently, GBP / USD quotes are consolidating. The local support and resistance levels are: 1.29900 and 1.30650, respectively. In the near future, technical correction is not ruled out. We recommend keeping track of current information on the Brexit issue. Open positions from key levels.

The Economic News Feed for 23.12.2019 is calm.

GBP/USD

Indicators do not give accurate signals: the price is testing 50 MA.

The MACD histogram is close to the 0.

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

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish sentiment.
  • Support levels: 1.29900, 1.29500
  • Resistance levels: 1.30650, 1.31350, 1.32100

If the price consolidates below 1.29900, expect the quotes to drop toward 1.29500-1.29300.

Alternatively, the quotes could grow toward 1.31200-1.31400.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31210
  • Open: 1.31463
  • % chg. over the last day: +0.16
  • Day's range: 1.31400 - 1.31604
  • 52 wk range: 1.3014 - 1.3664

On Friday, December 20, the USD / CAD currency pair retreated from local lows. Looney is currently consolidating. The technical picture is ambiguous. The key range is 1.31450-1.31750. Participants in financial markets expect the release of important statistical data from the United States and Canada. We also recommend that you pay attention to the dynamics of prices of black gold. Open positions from key levels.

At 15:30 (GMT+2:00) a report on Canada will publish a GDP report.

USD/CAD

The price has fixed above 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 USD/CAD.

The Stochastic Oscillator is near the overbought zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.31450, 1.31250, 1.31050
  • Resistance levels: 1.31750, 1.32000

If the price consolidates below 1.31450, USD/CAD is expected to fall toward 1.31000.

Alternatively the quotes could grow toward 1.32000-1.32200.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.364
  • Open: 109.402
  • % chg. over the last day: +0.05
  • Day's range: 109.366 - 109.539
  • 52 wk range: 104.45 - 113.53

The USD/JPY currency pair continues to trade in a long flat. There is no defined trend. At the moment, the following local support and resistance levels can be distinguished: 109.300 and 109.500. Participants in financial markets expect additional drivers. A trading instrument has a downside potential. We recommend you to pay attention to the dynamics of the yield of US government securities. Open positions from key levels.

The Economic News Feed for 23.12.2019 is calm.

USD/JPY

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

The MACD histogram is close to the 0 mark. There are no signals at the moment.

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

Trading recommendations
  • Support levels: 109.300, 109.200, 109.000.
  • Resistance levels: 109.500, 109.700, 110.000

If the price consolidates below 109.300, expect the quotes to fall toward 109.000-108.800.

Alternatively, the quotes could grow toward 109.700-110.000.

by JustForex, 2019.12.23

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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