The Analytical Overview of the Main Currency Pairs on 2018.11.26

November 26, 2018

Analytics by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.14404
  • Open: 1.13396
  • % chg. over the last day: -0.59
  • Day’s range: 1.13505 – 1.13702
  • 52 wk range: 1.1299 – 1.2557

On Friday, aggressive sales were observed on the EUR/USD currency pair. Drop in quotes exceeded 70 points. At the moment, the euro has recovered most of the losses. Local support and resistance levels are 1.13500 and 1.13850, respectively. Positions should be opened from these marks. We recommend following the current information on the budget process in Italy.

The news feed on 26.11.2018:
  • – German IFO business climate index at 11:00 (GMT+2:00).

We also recommend paying attention to the speech by the ECB President Draghi.

EUR/USD

Indicators do not send accurate signals: the price has crossed 50 MA and 200 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.


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Stochastic Oscillator is in the overbought zone, the %K line has crossed the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.13500, 1.13200, 1.13000
  • Resistance levels: 1.13850, 1.14100, 1.14400

If the price fixes below the support level of 1.13500, a further fall in the EUR/USD quotes is expected. The movement is tending to 1.13200-1.13000.

An alternative may be the EUR/USD currency pair growth to the level of 1.14100-1.14400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28739
  • Open: 1.28202
  • % chg. over the last day: -0.50
  • Day’s range: 1.28146 – 1.28438
  • 52 wk range: 1.2662 – 1.4378

On Friday, the bearish sentiment was observed on the GBP/USD currency pair. The decrease in quotes exceeded 70 points. At the moment, investors assess Brexit deal between the EU and the UK. The local support and resistance levels are 1.28150 and 1.28500, respectively. Positions should be opened from these marks.

Today the publication of important economic reports from the UK is not planned. We recommend paying attention to the speech by the Bank of England Governor Carney.

GBP/USD

Indicators do not send accurate signals: 50 MA is crossing 200 MA.

The MACD histogram is located near the 0 mark.

Stochastic Oscillator is near the overbought zone, the %K line has crossed the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.28150, 1.27900, 1.27700
  • Resistance levels: 1.28500, 1.28800, 1.29000

If the price fixes below the support level of 1.28150, the GBP/USD quotes are expected to fall. The movement is tending to 1.27900-1.27700.

An alternative may be the further growth of the GBP/USD currency pair to 1.28800-1.29000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31866
  • Open: 1.32209
  • % chg. over the last day: +0.36
  • Day’s range: 1.31870 – 1.32015
  • 52 wk range: 1.2248 – 1.3387

There is a variety of trends on the USD/CAD currency pair. On Friday, there were ambiguous economic reports on inflation and retail sales in Canada. At the moment, the key support and resistance levels are 1.31800 and 1.32100, respectively. Positions should be opened from these marks. We recommend paying attention to the dynamics of oil prices.

The news feed on the economy of Canada is calm.

USD/CAD

Indicators do not send accurate signals: 50 MA has crossed 200 MA.

The MACD histogram has moved to the negative zone, which gives a signal to sell USD/CAD.

Stochastic Oscillator is in the oversold zone, the %K line has crossed the %D line. There are no signals.

Trading recommendations
  • Support levels: 1.31800, 1.31500, 1.31300
  • Resistance levels: 1.32100, 1.32400, 1.32700

If the price fixes above the resistance level of 1.32100, it is necessary to consider purchases of USD/CAD. The movement is tending to 1.32400-1.32700.

Alternative option. If the price fixes below the 1.31800 mark, we recommend looking for entry points to the market to open short positions. The movement is tending to 1.31500-1.31300.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.939
  • Open: 112.866
  • % chg. over the last day: +0.01
  • Day’s range: 113.241 – 113.294
  • 52 wk range: 104.56 – 114.74

The bullish sentiment is observed on the USD/JPY currency pair. At the moment, quotes are consolidating. The local support and resistance levels are 113.150 and 113.350, respectively. We recommend paying attention to the dynamics of the US government bonds yield. Positions should be opened from the key levels. The USD/JPY quotes have the potential for further growth.

Publication of important economic reports from Japan is not planned.

USD/JPY

Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.

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

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

Trading recommendations
  • Support levels: 113.150, 112.850, 112.650
  • Resistance levels: 113.350, 113.550, 113.800

If the price fixes above the resistance of 113.350, further growth of the USD/JPY quotes is expected. The movement is tending to 113.550-113.800.

Analytics by JustForex