The Analytical Overview of the Main Currency Pairs on 2020.03.25

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.07280
  • Open: 1.07851
  • % chg. over the last day: +0.62
  • Day's range: 1.07604 – 1.08404
  • 52 wk range: 1.0777 – 1.1494

The EUR/USD currency pair keeps consolidating. There is no defined trend. Yesterday, Germany and EU published quite weak data on business activity. US senators and White House officials reached an agreement on an incentive package to mitigate the economic impact of the COVID-19 virus pandemic. The total aid volume will amount to about $2 trillion. At the moment, EUR/USD quotes are consolidating in the range of 1.07200-1.08600. The current technical picture signals a possible correction of the trading instrument. Open positions from key levels.

The Economic News Feed for 25.03.2020:

  • - German IFO business climate index - 11:00 (GMT+2:00);
  • - Durable Goods Orders (US) – 14:30 (GMT+3:00);
  • EUR/USD

    Indicators do not give an accurate signal: 50 MA crossed 100 MA.

    The MACD histogram has started to rise, indicating that EUR/USD quotes are recovering.

    The Stochastic Oscillator is located in the neutral zone, the line %K is below the line %D, which gives a sell signal for EUR/USD.

    Trading recommendations
    • Support levels: 1.07200, 1.06350
    • Resistance levels: 1.08600, 1.09550, 1.10600

    If the price fixes above 1.08600, the correction of the EUR/USD currency pair is expected toward 1.09400-1.11000.

    Alternatively, the quotes could descend toward 1.06500-1.06000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.15087
  • Open: 1.17432
  • % chg. over the last day: +1.81
  • Day's range: 1.17403 – 1.19276
  • 52 wk range: 1.1466 – 1.3516

GBP/USD quotes went up after a significant collapse. During yesterday's and today's trades sterling added over 400 points. At the moment, the currency pair GBP/USD is testing resistance level 1.19300. The mark 1.17200 is already a mirror support. The trading instrument can correct further. We recommend you to monitor the current information about the coronavirus pandemic and its impact on the global economy. Open positions from key levels.

The Economic News Feed for 25.03.2020 is calm.

GBP/USD

The indicators signal the power 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 located in the overbought zone, the %K line crossed the %D line. No signals at the moment.

Trading recommendations
  • Support levels: 1.17200, 1.14500
  • Resistance levels:1.19300, 1.21350, 1.22800

If the price fixes above 1.19300, expect further correction toward 1.21000-1.21500.

Alternatively, the quotes could descend toward 1.16000-1.15000.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.45076
  • Open: 1.44658
  • % chg. over the last day: -0.25
  • Day's range: 1.42955 – 1.44830
  • 52 wk range: 1.2949 – 1.4668

The USD/CAD currency pair has moved down. The trading instrument has updated the local lows. Currently, the CAD is testing the round level of 1.43000. The mark 1.44500 is the nearest resistance. The technical picture signals a further correction of USD/CAD quotes. We recommend you to pay attention to the "black gold" price dynamics. Open positions from key levels.

The Economic News Feed for 25.03.2020 is calm.

USD/CAD

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

MACD histogram is in the negative zone and continues to decline, which indicates a bearish sentiment.

The Stochastic Oscillator is located in the oversold area, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.43000, 1.41500, 1.40000
  • Resistance levels: 1.44500, 1.45550, 1.46600

If the price fixes below 1.43000, expect further correction to 1.42000-1.41000.

Alternatively, the quotes could grow toward 1.45000-1.46000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.222
  • Open: 111.328
  • % chg. over the last day: +0.05
  • Day's range: 110.752 – 111.568
  • 52 wk range: 101.19 – 112.41

USD/JPY currency pair is still in a sideways movement. There is no defined trend. Financial markets participants are waiting for additional drivers. Currently, the following local support and resistance levels can be distinguished: 110.200 and 111.600, respectively. Technical correction of a trading instrument is not ruled out in the nearest future. We recommend you to pay attention to the dynamics of US government bonds yield. Open positions from key levels.

The Economic News Feed for 25.03.2020 is calm.

USD/JPY

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

Histogram of MACD is in positive zone, which indicates a bullish sentiment.

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

Trading recommendations
  • Support levels: 110.200, 109.300, 108.500.
  • Resistance levels: 111.600, 112.000

If the price fixes below 110.200, expect the quotes to correct toward 109.300-108.500.

Alternatively, the quotes will grow toward 112.000-112.500.

by JustForex, 2020.03.25

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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