The Analytical Overview of the Main Currency Pairs on 2019.12.26

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10885
  • Open: 1.10908
  • % chg. over the last day: +0.02
  • Day's range: 1.10872 - 1.10954
  • 52 wk range: 1.0879 - 1.1572

World currency markets remain in a festive mood due to the Christmas holidays. Trading in major currency majors is calm. Currently, EUR/USD quotes are consolidating. The local support and resistance levels are 1.10750 and 1.10950, respectively. The trading instrument has a downside potential. We recommend opening positions from key levels.

At 15:30 (GMT+2:00), an US initial jobless claims report will be published.

EUR/USD

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 is below the %D line, which indicates a bearish sentiment.

Trading recommendations
  • Support levels: 1.10750, 1.10650, 1.10300
  • Resistance levels: 1.10950, 1.11100, 1.11300

If the price consolidates below 1.10750, expect a further descend toward 1.11200-1.11300.

Alternatively, the quotes could grow toward 1.11200-1.11300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29331
  • Open: 1.29523
  • % chg. over the last day: +0.09
  • Day's range: 1.29523 - 1.29982
  • 52 wk range: 1.1959 - 1.3516

The GBP/USD currency pair retreated from local lows. Investors began to partially fix the position. At the moment, the pound is testing a round level of 1.30000. 1.29450 is the immediate support. GBP/USD quotes have the potential for further correction. We recommend keeping track of current information on the Brexit issue. Open positions from key levels.

UK financial markets are closed due to the holiday.

GBP/USD

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

The MACD histogram has started to rise, which signals a possible correction of the GBP/USD currency pair.

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: 1.29450, 1.29000, 1.28500
  • Resistance levels: 1.30000, 1.30650, 1.31350

If the price consolidates above the round level of 1.30000, expect the quotes to recover toward 1.30400-1.30600.

Alternatively, the quotes could descend toward 1.29200-1.28800.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31453
  • Open: 1.31567
  • % chg. over the last day: +0.16
  • Day's range: 1.31514 - 1.31623
  • 52 wk range: 1.3014 - 1.3664

The USD/CAD currency pair continues to trade flat. There is no defined trend. At the moment, the local support and resistance levels are: 1.31400 and 1.31600, respectively. CAD is supported by bullish sentiment in the oil market. We recommend opening positions from key levels.

Canada's financial markets are closed due to the holiday.

USD/CAD

The signals of the indicators are mixed: the price crossed 50 MA and 100 MA.

The MACD histogram is close to the 0 mark.

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

Trading recommendations
  • Support levels: 1.31400, 1.31200, 1.31050
  • Resistance levels: 1.31600, 1.31750, 1.32000

If the price consolidates below 1.31400, expect the quotes to fall toward 1.31200-1.31000.

Alternatively, the quotes could grow toward 1.31750-1.31900.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.389
  • Open: 109.358
  • % chg. over the last day: -0.02
  • Day's range: 109.358 - 109.573
  • 52 wk range: 104.45 - 113.53

The USD/JPY currency pair has again moved up. The trading tool has reached key extremes. Greenback demand rose amid optimism about easing trade tensions between the United States and China, as well as signs of a recovery in global growth. At the moment, USD/JPY quotes are consolidating near the supply zone of 109.600-109.700. 109.350 is a key support. We do not exclude further growth of the trading instrument. Open positions from key levels.

Today, the news background on the Japanese economy is calm.

USD/JPY

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

The MACD histogram is in the positive zone, indicating a bullish sentiment.

The Stochastic Oscillator has started to leave the overbought 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, 109.000
  • Resistance levels: 109.600, 109.700, 110.000

If the price consolidates above 109.600, expect further growth toward 109.800-110.000.

Alternatively, the quotes could drop toward 109.200-109.000.

by JustForex, 2019.12.26

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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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