The Analytical Overview of the Main Currency Pairs on 2019.10.30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11003
  • Open: 1.11003
  • % chg. over the last day: +0.11
  • Day's range: 1.11065 - 1.11153
  • 52 wk range: 1.0884 - 1.1623

Greenback is stable against other world currencies. Investors took a wait and see attitude before today's Fed meeting. Most participants in financial markets expect the regulator to reduce the range of key interest rates by 25 basis points to 1.50-1.75%. We recommend that you pay attention to the comments and rhetoric of representatives of the Central Bank, which may signal the further pace of monetary policy adjustment. A number of important economic releases will also be published today. At the moment, EUR/USD quotes are consolidating in the range of 1.11000-1.11200. Open positions from the key levels.

The Economic News Feed for 30.10.2019:

  • - Labour Market Report (GER) – 10:55 (GMT+2:00);
  • - ADP Nonfarm Employment Change (US) – 14:15 (GMT+2:00);
  • - Preliminary GDP Report (US) – 14:30 (GMT+2:00);
  • - Fed Interest Rate Announcement (US) – 20:00 (GMT+2:00);
EUR/USD

Indicators do not give accurate signals: 50 MA began to cross 100 MA.

The MACD histogram has moved into the positive zone, indicating a bullish sentiment.

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

Trading recommendations
  • Support levels: 1.11000, 1.10750, 1.10450
  • Resistance levels: 1.11200, 1.11500, 1.11750

If the price consolidates above 1.11200, expect a rise toward 1.11500-1.11700.

Alternatively, the quotes could decrease toward 1.10700-1.10500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28601
  • Open: 1.28656
  • % chg. over the last day: +0.03
  • Day's range: 1.28582 - 1.28828
  • 52 wk range: 1.1959 - 1.3385

The technical pattern on the GBP/USD currency pair is still ambiguous. GBP continues to trade in a flat. At the moment, the local support and resistance levels are 1.28450 and 1.29000, respectively. Participants in the financial markets are waiting for the Fed meeting. We also recommend keeping track of up-to-date information regarding the Brexit process. GBP/USD quotes have the potential for correction. Open positions from key levels.

The Economic News Feed for 30.10.2019 is calm.

GBP/USD

Indicators do not give accurate signals, 50 MA has crossed 100 MA.

The MACD histogram is in the positive zone, which points to a bullish sentiment.

The Stochastic Oscillator is in the positive zone, the %K line is above the %D line which also points to a bullish sentiment.

Trading recommendations
  • Support levels: 1.28450, 1.28000, 1.27600
  • Resistance levels: 1.29000, 1.29450, 1.30000

If the price consolidates below the support level of 1.28450, expect the quotes to fall toward 1.28000-1.27800.

Alternatively, the quotes can grow toward 1.29400-1.29600.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30549
  • Open: 1.30871
  • % chg. over the last day: +0.31
  • Day's range: 1.30804 - 1.30955
  • 52 wk range: 1.2727 - 1.3664

The USD/CAD has moved up. The trading tool has updated local highs. CAD is currently consolidating in the range of 1.30750-1.31000. Investors took a wait and see attitude before the meetings of the Bank of Canada and the Fed. It is expected that the Central Bank of Canada will maintain the basic parameters of monetary policy at the same level. We recommend you to pay attention to the comments and rhetoric of representatives of regulators. Open positions from key levels.

The Bank of Canada will announce their interest rate at 16:00 (GMT+2:00).

USD/CAD

The signals of the indicators are indecisive. The price has fixed above 100 MA, which signals the power of buyers.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.

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: 1.30750, 1.30500, 1.30200
  • Resistance levels: 1.31000, 1.31200, 1.31450

If the price consolidates above the round level of 1.31000, expect a further correction toward 1.31300-1.31500.

Alternatively, expect the quotes to descend toward 1.30500-1.30300.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.982
  • Open: 108.866
  • % chg. over the last day: -0.04
  • Day's range: 108.810 – 108.888
  • 52 wk range: 104.97 – 114.56

The USD/JPY currency pair has stabilized. The trading instrument is currently consolidating. The local support and resistance levels are 108.800 and 109.000, respectively. Investors are waiting for the Fed meeting. We also recommend that you keep track of up-to-date information regarding the settlement of the trade conflict between Washington and Beijing. Open positions from key levels.

During the Asian trading session, Japan published an optimistic report on the retail sales.

USD/JPY

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

The MACD histogram has moved to the negative zone, indicating a bearish sentiment.

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: 108.800, 108.650, 108.500
  • Resistance levels: 109.000, 109.300, 109.500

If the price consolidates above the round level of 109,000, expect further growth toward 109.200-109.500.

Alternatively, the quotes could decrease toward 108.650-108.400.

by JustForex, 2019.10.30

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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