The Analytical Overview of the Main Currency Pairs on 2018.12.04

December 4, 2018

Analytics by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13499
  • Open: 1.13523
  • % chg. over the last day: +0.11
  • Day’s range: 1.13516 – 1.13982
  • 52 wk range: 1.1299 – 1.2557

On the EUR/USD currency pair, the bullish sentiment is observed. At the moment, quotes are consolidating. The key support and resistance levels are 1.13650 and 1.14000, respectively. Investors continue to evaluate the outcome of the G20 summit. The single currency is tending to recover. We recommend opening positions from the key levels.

Publication of important economic reports from the US and the eurozone is not planned.

EUR/USD

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

The MACD histogram is in the positive zone and above the signal line, which indicates the growth of the EUR/USD quotes.


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Stochastic Oscillator has moved from the overbought zone, the %K line is below the %D line, which gives a signal to sell EUR/USD.

Trading recommendations
  • Support levels: 1.13650, 1.13300, 1.13100
  • Resistance levels: 1.14000, 1.14350, 1.14500

If the price fixes above the round level of 1.14000, further growth of the EUR/USD currency pair is expected. The movement is tending to 1.14350-1.14500.

An alternative could be a reduction in the EUR/USD quotes to 1.13300-1.13100.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27291
  • Open: 1.27232
  • % chg. over the last day: -0.21
  • Day’s range: 1.27194 – 1.27868
  • 52 wk range: 1.2662 – 1.4378

The GBP/USD currency pair is traded in the flat. The unidirectional trend is not observed. At the moment, the following key support and resistance levels can be identified: 1.27250 and 1.27750, respectively. Yesterday, positive statistics on economic activity in the UK manufacturing sector was published, which provides additional support to the pound. We recommend opening positions from the key levels. The GBP/USD quotes are tending to grow.

At 11:30 (GMT+2:00) the index of economic activity in the UK construction sector will be published.

GBP/USD

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

The MACD histogram has reached the 0 mark.

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

Trading recommendations
  • Support levels: 1.27250, 1.27000
  • Resistance levels: 1.27750, 1.28250, 1.28600

If the price fixes above the resistance level of 1.27750, the GBP/USD quotes are expected to grow. The movement is tending to 1.28250-1.28400.

An alternative could be the reduction of the GBP/USD currency pair to the round level of 1.27000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32359
  • Open: 1.31967
  • % chg. over the last day: -0.43
  • Day’s range: 1.31693 – 1.32017
  • 52 wk range: 1.2248 – 1.3387

The USD/CAD currency pair is consolidating after aggressive sales during yesterday’s trading session. Currently, local support and resistance levels are 1.31650 and 1.31900, respectively. Loonie is supported by a correction in the market of “black gold”. The USD/CAD quotes are tending to decline. Positions must be opened from the key levels.

The news feed on the economy of Canada is quite calm.

USD/CAD

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

The MACD histogram is in the negative zone and continues to decline, which gives a strong signal to sell USD/CAD.

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

Trading recommendations
  • Support levels: 1.31650, 1.31300, 1.31000
  • Resistance levels: 1.31900, 1.32200, 1.32500

If the price fixes below the support level of 1.31650, a further decline in the USD/CAD quotes is expected. The movement is tending to 1.31300-1.31000.

Alternative option. If the price consolidates above the level of 1.31900, we recommend looking for entry points to the market to open long positions. The movement is tending to 1.32200-1.32400.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.654
  • Open: 113.604
  • % chg. over the last day: -0.16
  • Day’s range: 112.896 – 113.657
  • 52 wk range: 104.56 – 114.74

The USD/JPY currency pair shows a negative trend. Today, the drop in quotes exceeded 70 points. Trading instrument updated local lows. Currently, the key range is 112.900-113.150. The USD/JPY currency pair is tending to decline. We recommend paying attention to the dynamics of the US government bonds yield. Positions must be opened from the key levels.

The news feed on the Japanese economy is calm.

USD/JPY

The price has fixed below 50 MA and 200 MA, which indicates the power of the sellers.

The MACD histogram is in the negative zone and below the signal line, which gives a strong signal to sell USD/JPY.

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

Trading recommendations
  • Support levels: 112.900, 112.650
  • Resistance levels: 113.150, 113.300, 113.450

If the price fixes below the local support of 112.900, a further fall in the USD/JPY currency pair is expected. The movement is tending to 112.650-112.500.

An alternative could be the growth of the USD/JPY quotes to 113.250-113.400.

Analytics by JustForex