The Analytical Overview of the Main Currency Pairs on 2019.10.11

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.09713
  • Open: 1.10053
  • % chg. over the last day: +0.36
  • Day's range: 1.10043 - 1.10195
  • 52 wk range: 1.0884 - 1.1623

EUR/USD currency pair went up after a long consolidation. The trading tool has updated key extremes. EUR/USD quotes found resistance at around 1.10300. Round level 1.10000 is already a “mirror” support. Demand for risky assets grew amid hopes for an interim trade agreement between Washington and Beijing. We recommend that you keep track of current information on this issue. A trading instrument has the potential for further growth. Positions must be opened from key levels.

The Economic News Feed for 11.10.2019:

  • - Import and Export Price Indices (US) – 15:30 (GMT+3:00);
EUR/USD

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

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

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

Trading recommendations
  • Support levels: 1.10000, 1.09700, 1.09450
  • Resistance levels: 1.10300, 1.10500

If the price consolidates above the resistance level of 1.10300, expect further growth toward 1.10500-1.10800.

Alternatively, the quotes could decrease toward 1.09800-1.09500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22094
  • Open: 1.24315
  • % chg. over the last day: +1.84
  • Day's range: 1.24239 – 1.24668
  • 52 wk range: 1.1959 – 1.3385

Yesterday, we observed aggressive purchases on the GBP/USD currency pair. The demand for GBP has grown significantly. The quotes grew by more than230 points. The trading tool has updated key highs. On Thursday, Irish Prime Minister Leo Varadkar announced that a Brexit agreement could be concluded by the end of October that would allow the United Kingdom to leave the European Union in an orderly manner. At the moment, GBP/USD quotes are consolidating in the range 1.24100-1.24650. GBP can recover further. You should open positions from the key levels.

The Economic News Feed for 11.10.2019 is calm. Keep an eye out for the Brexit news.

GBP/USD

The price fixed above 50 MA and 100 MA, which signals the strength of buyers.

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

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: 1.24100, 1.23500, 1.23200
  • Resistance levels: 1.24650, 1.25000

If the price consolidates above 1.24650, expect further growth toward 1.25000-1.25300.

Alternatively, the quotes could decrease toward 1.23700-1.23500.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33303
  • Open: 1.32898
  • % chg. over the last day: -0.33
  • Day's range: 1.32737 - 1.33000
  • 52 wk range: 1.2727 - 1.3664

The USD/CAD currency pair is dominated by bearish sentiment. The trading instrument has set new local lows. At the moment, USD/CAD quotes are testing the support level of 1.32700. Round level 1.33000 is already a "mirror" resistance. The Canadian dollar has the potential for further growth against the US dollar. Additional support for Looney is provided by the positive dynamics of oil quotes. Today, investors will evaluate the report on the labor market in Canada. We recommend opening positions from key levels.

The Economic News Feed for 11.10.2019:

  • - Economic Event (CAD) – 00:00 (GMT+3:00);
  • - Economic Event (CAD) – 00:00 (GMT+3:00);
  • - Economic Event (CAD) – 00:00 (GMT+3:00);
USD/CAD

Indicators pooint to the strength of sellers: the price has fixed below 100 MA.

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

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

Trading recommendations
  • Support levels: 1.32700, 1.32500, 1.32350
  • Resistance levels: 1.33000, 1.33200, 1.33450

If the price consolidates below 1.32700, expect a further drop toward 1.32500-1.32300.

Alternatively, the quotes could grow toward 1.33200-1.33400.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.457
  • Open: 107.962
  • % chg. over the last day: +0.38
  • Day's range: 107.850 - 108.130
  • 52 wk range: 104.97 - 114.56

On the USD/JPY currency pair, purchases prevail. The trading tool has updated local highs. Demand for the safe haven currencies has weakened amid the prospects for a trade ceasefire between the US and China, as well as the settlement of the Brexit process. At the moment, USD/JPY quotes are consolidating. The local support and resistance levels are: 107.750 and 108.100, respectively. A trading instrument has the potential for further growth. We recommend opening positions from key levels.

The Economic News Feed for 11.10.2019 is calm.

USD/JPY

The price fixed above 50 MA and 100 MA, which signals the strength of buyers.

The MACD histogram is in the positive zone, indicating bullish 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: 107.750, 107.450, 107.100
  • Resistance levels: 108.100, 108.450

If the price consolidates above 108.100, expect further growth toward 108.400-108.600.

Alternatively, the quotes could decrease toward 107.450-107.200.

by JustForex, 2019.10.11

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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