The Analytical Overview of the Main Currency Pairs on 2020.03.27

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.08831
  • Open: 1.10279
  • % chg. over the last day: +1.36
  • Day's range: 1.10017 – 1.10868
  • 52 wk range: 1.0777 – 1.1494

Greenback significantly weakened relative to its main competitors. During yesterday's and today's trading, the growth of EUR/USD quotes exceeded 180 points. The COVID-19 virus epidemic continues to negatively impact the global economy. The US Department of Labor reported that the number of initial applications for unemployment benefits reached a record high and exceeded 3 million. Currently, the EUR/USD currency pair is consolidating in the range of 1.09800-1.10800. The trading instrument can recover further. Open positions from key levels.

The Economic News Feed for 27.03.2020:

  • -- data on personal expenses (US) – 14:30 (GMT+2:00).
EUR/USD

Indicators signal the power of buyers: the price has fixed above 50 MA and 100 MA.

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

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

Trading recommendations
  • Support levels: 1.09800, 1.08800, 1.08000
  • Resistance levels: 1.10800, 1.11800

If the price consolidates above the level of 1.10800, the quotes can grow toward 1.11500-1.12000.

Alternatively, the quotes could descend toward 1.09000-1.08500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.18744
  • Open: 1.21546
  • % chg. over the last day: +2.66
  • Day's range: 1.21313 – 1.23058
  • 52 wk range: 1.1466 – 1.3516

The GBP/USD currency pair shows a pronounced upward trend. Since the beginning of this week, quotes growth exceeded 550 points. Yesterday, the Bank of England, as expected, kept the basic parameters of monetary policy at the same level. The pound is currently consolidating in the range 1.21300-1.23000. Greenback demand has weakened significantly. The trading instrument can grow further. Open positions from key levels.

The Economic News Feed for 27.03.2020 is calm.

GBP/USD

Indicators signal the power of buyers: the price has fixed above 50 MA and 100 MA.

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

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: 1.21300, 1.19750, 1.18750
  • Resistance levels: 1.23000, 1.24200

If the price consolidates above the round level of 1.23000, expect the quotes to grow toward 1.24000-1.24500.

Alternatively, the quotes could descend toward 1.12000-1.19500.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.41904
  • Open: 1.40466
  • % chg. over the last day: -1.23
  • Day's range: 1.39887 – 1.40936
  • 52 wk range: 1.2949 – 1.4668

The USD / CAD currency pair is dominated by a bearish sentiment. USD/CAD quotes again updated local lows. The trading tool found support at 1.39900. 1.41500 is already a mirror resistance. Demand for the US dollar has weakened significantly. USD/CAD quotes can descend further. We recommend you to pay attention to the dynamics of prices of "black gold". Open positions from key levels.

The Economic News Feed for 27.03.2020 is calm.

USD/CAD

Indicators signal the power of sellers: the price has fixed below 50 MA and 100 MA.

MACD is in the negative zone, indicating a bearish sentiment.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy USD/CAD.

Trading recommendations
  • Support levels: 1.39900, 1.38700
  • Resistance levels: 1.41500, 1.42750, 1.43800

If the price consolidates below 1.39900, expect a descend toward 1.39000-1.38000.

Alternatively, the quotes could grow toward 1.42500-1.43500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.155
  • Open: 109.458
  • % chg. over the last day: -1.45
  • Day's range: 108.237 – 109.471
  • 52 wk range: 101.19 – 112.41

The USD/JPY currency pair shows a negative dynamic. During yesterday's and today's trading, the drop in quotations exceeded 250 points. The trading instrument has set new local lows. At the moment, USD/JPY quotes are consolidating in the range of 108.200-109.300. The yen can descend further. We recommend you to pay attention to the dynamics of yield on US government bonds. Open positions from key levels.

The Economic News Feed for 27.03.2020 is calm.

USD/JPY

Indicators signal the power of sellers: the price has fixed below 50 MA and 100 MA.

MACD is in the negative zone, indicating a bearish sentiment.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy USD/JPY.

Trading recommendations
  • Support levels: 108.200, 107.000
  • Resistance levels: 109.300, 110.000, 110.750

If the price consolidates below 108.200, expect the quotes to correct toward 107.500-107.000.

Alternatively, the quotes could grow toward 110.000-110.700.

by JustForex, 2020.03.27

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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