The Analytical Overview of the Main Currency Pairs on 2019.12.27

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10908
  • Open: 1.10961
  • % chg. over the last day: +0.09
  • Day's range: 1.10942 - 1.11222
  • 52 wk range: 1.0879 - 1.1572

Yesterday, the USD weakened against the basket of world currencies. This movement is largely due to technical factors. EUR / USD quotes updated local highs. At the moment, the trading instrument is testing the resistance level of 1.11200. 1.10950 is already a mirror support. The EUR has a potential for further recovery. We recommend opening positions from key levels.

The Economic News Feed for 27.12.2019 is calm.

EUR/USD

The price has fixed above 100 MA, which signals the strength of buyers.

The MACD histogram is in the positive zone and continues to rise, indicating a bullish sentiment.

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

Trading recommendations
  • Support levels: 1.10950, 1.10750, 1.10650
  • Resistance levels: 1.11200, 1.11400, 1.11550

If the price consolidates above 1.11200, expect further growth toward 1.11400-1.11600.

Alternatively, the quotes could descend toward 1.10750-1.10600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29523
  • Open: 1.29909
  • % chg. over the last day: +0.31
  • Day's range: 1.29682 - 1.30143
  • 52 wk range: 1.1959 - 1.3516

An ambiguous technical pattern has developed on the GBP/USD currency pair. The trading instrument is consolidating. The local support and resistance levels are 1.29500 and 1.30150, respectively. In the near future, correction of the GPB/USD quotes after a prolonged fall is not ruled out. Market participants expect up-to-date information on Brexit. Open positions from key levels.

The publication of important economic reports from the UK is not planned.

GBP/USD

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

The MACD histogram is close to the 0.

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

Trading recommendations
  • Support levels: 1.29500, 1.29000, 1.28500
  • Resistance levels: 1.30150, 1.30650, 1.31350

If the price consolidates above 1.30150, expect the quotes to recover toward 1.30650-1.31000.

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: 1.31567
  • Open: 1.31122
  • % chg. over the last day: -0.40
  • Day's range: 1.31021 - 1.31205
  • 52 wk range: 1.3014 - 1.3664

The USD/CAD currency pair went down. During yesterday's and today's trading, the drop in quotations exceeded 50 points. The trading instrument reached a round level of 1.31000. 1.31200 acts as local resistance. Demand for the Canadian dollar is supported by the positive dynamics of oil prices. We do not exclude the further strengthening of CAD. We recommend opening positions from key levels.

The Economic News Feed for 27.12.2019 is calm.

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 oversold zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.31000, 1.30700
  • Resistance levels: 1.31200, 1.31400, 1.31600

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

Alternatively, the quotes could grow toward 1.31400-1.31600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.358
  • Open: 109.546
  • % chg. over the last day: +0.16
  • Day's range: 109.432 - 109.584
  • 52 wk range: 104.45 - 113.53

The USD/JPY currency pair is in lateral movement. The technical picture is ambiguous. Participants in financial markets expect additional drivers. At the moment, the following local support and resistance levels can be distinguished: 109.400 and 109.550, respectively. We recommend that you pay attention to the dynamics of yield on US government bonds. Open positions from key levels.

Series of mixed economic reports from Japan were published during the Asian trading session.

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.

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

Trading recommendations
  • Support levels: 109.400, 109.300, 109.200
  • Resistance levels: 109.550, 109.650, 109.900

If the price consolidates above 109.550, expect the quotes to grow toward 109.700-109.900.

Alternatively, the quotes could drop toward 109.300-109.200.

by JustForex, 2019.12.27

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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