The Analytical Overview of the Main Currency Pairs on 2020.03.19

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10070
  • Open: 1.09119
  • % chg. over the last day: -0.49
  • Day's range: 1.08134 – 1.09812
  • 52 wk range: 1.0777 – 1.1494

EUR/USD quotes show negative екутвы. The demand for risky assets remains at a low level. The coronavirus pandemic is still in the spotlight. The ECB launched an emergency asset buyback program for 750 bln EUR. The US Federal Reserve announced a new $3.8 trillion credit program to fight the consequences of the virus crisis. Currently, EUR/USD currency pair is consolidating in the range of 1.08000-1.09550. The trading instrument can decline further. Open positions from key levels.

At 14:30 (GMT+2:00), the Philadelphian PMI will be published.

EUR/USD

The indicators signal the sellers' power: the price has fixed below 50 MA and 100 MA.

The MACD histogram is in the negative zone, which indicates a bearish sentiment.

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

Trading recommendations
  • Support levels: 1.08000, 1.07000
  • Resistance levels: 1.09550, 1.10600, 1.11600.

If the price fixes below 1.08000, expect further descend toward 1.07000.

Alternatively, the quotes could recover toward 1.10500-1.11000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.20594
  • Open: 1.15803
  • % chg. over the last day: -3.69
  • Day's range: 1.14746 – 1.16614
  • 52 wk range: 1.1466 – 1.3516

The British pound fell on Wednesday to its lowest level against the dollar since 1985 and to more than a decade low against the euro due to concerns about the coronavirus and investors' desire to hold on to the US dollar. Currently, GBP/USD quotes are consolidating in the range of 1.14500-1.16500. Technical correction of the trading instrument after a significant collapse is not ruled out in the nearest future. Open positions from key levels.

The Economic News Feed for 19.03.2020 is calm.

GBP/USD

The indicators signal the sellers' power: the price has fixed below 50 MA and 100 MA.

The MACD histogram is in the negative zone, which indicates a bearish sentiment.

The Stochastic Oscillator is in the neutral zone, the %K line started crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.14500
  • Resistance levels: 1.16500, 1.20000, 1.21350

If the price fixes below 1.14500, expect the quotes to fall toward 1.13000.

Alternatively, the quotes could correct 1.18000-1.19000.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.42021
  • Open: 1.45086
  • % chg. over the last day: +1.99
  • Day's range: 1.44256 – 1.46679
  • 52 wk range: 1.2949 – 1.4668

The CAD keeps losing ground against the USD. During yesterday and today's trades the growth of USD/CAD quotes exceeded 400 points. The Canadian dollar remains under pressure amid a significant collapse of oil quotations. At the moment the trading instrument has stabilized. The key range is 1.44000-1.46600. Technical correction is not ruled out in the nearest future. Open positions from key levels.

The Economic News Feed for 19.03.2020 is calm.

USD/CAD

The indicators signal the strength of buyers: the price has fixed above 50 MA and 100 MA.

MACD histogram is in the positive zone, which indicates a bullish sentiment.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a possible correction of the USD/CAD currency pair.

Trading recommendations
  • Support levels: 1.44000, 1.42750, 1.41500
  • Resistance levels: 1.46600, 1.48000

If the price fixes above 1.46600, consider buying USD/CAD as the price rises toward 1.48000.

Alternatively, the quotes could descend toward 1.42500-1.41500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.604
  • Open: 108.042
  • % chg. over the last day: +0.63
  • Day's range: 107.996 – 109.551
  • 52 wk range: 101.19 – 112.41

The USD/JPY currency pair has moved up. The quotes have updated the local highs. At the moment the trading instrument is consolidating in the range 108.500-109.500. Financial markets participants are waiting for additional drivers. We recommend you to pay attention to the dynamics of US government securities yield. USD/JPY currency pair has potential for further growth. Open positions from key levels.

The Economic News Feed for 19.03.2020 is calm.

USD/JPY

The indicators signal the strength of buyers: the price has fixed above 50 MA and 100 MA.

MACD histogram is in the positive zone, which gives a signal to buy USD/JPY.

The Stochastic Oscillator is located in the neutral zone, the %K line crosses the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 108.500, 107.850, 106.500
  • Resistance levels: 109.500, 111.000

If the price fixes above 109.500, expect further growth toward 110.500-111.000.

Alternatively, the quotes could descend toward 107.000-106.500.

by JustForex, 2020.03.19

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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