The Analytical Overview of the Main Currency Pairs on 2019.01.09

January 9, 2019

Analytics by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.14738
  • Open: 1.14401
  • % chg. over the last day: -0.17
  • Day’s range: 1.14364 – 1.14783
  • 52 wk range: 1.1214 – 1.2557

EUR keeps moving sideways. The technical picture is ambiguous. The local support and resistance levels are at 1.14500 and 1.14850 respectively, you should open positions from these levels. The investors are waiting for the relevant info regarding the US/China negotiations as well as the FOMC Minutes. The negotiations were prolonged by an addtional year.

At 21:00 (GMT+2:00) we expect the publication of FOMC Minutes. The financial market participants will be evaluating the comments and rhetorics of the Central Bank representatives regarding the further key interest rate growth. Earlier the Head of Federal Reserve Jerome Powell mentioned that they correct the monetary policy according to the economic reports.

EUR/USD

The price fixed above 50 MA and 200 MA which points toward the power of the buyers.

The MACD histogram started to rise, which indicates a bullish mood.


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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: 1.14500, 1.14250, 1.14000
  • Resistance levels: 1.14850, 1.15000

If the price fixes above the resistance level of 1.14850 expect further growth of the currency pair. The movement will tend toward 1.15250-1.15500.

Alternatively the quotes can descend toward 1.14250-1.14000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27767
  • Open: 1.27115
  • % chg. over the last day: -0.33
  • Day’s range: 1.27065 – 1.27487
  • 52 wk range: 1.2438 – 1.4378

The GBP/USD currency pair is consolidating. There is no defined trend. The local support and resistance levels are 1.27100 and 1.27550, you should open positions from them. The Brexit conundrum remains in the spotlight, the vote on the UK leaving the EU is scheduled for January, 15.

You should keep an eye on the statements by the Head of the Bank of England – 17:30 (GMT+2:00).

GBP/USD

The indicators do not provide precise signals, the price fixed between 50 МА and 200 МА.

The MACD histogram is close to 0.

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

Trading recommendations
  • Support levels: 1.27100, 1.26500, 1.26000
  • Resistance levels: 1.27550, 1.28000

If the price fixes above the 1.27550 mark, expect further growth toward the round 1.28000.

Alternatively the quotes can descend toward 1.26750-1.26500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32962
  • Open: 1.32739
  • % chg. over the last day: -0.40
  • Day’s range: 1.32233 – 1.32779
  • 52 wk range: 1.2248 – 1.3664

The USD keeps losing positions against the CAD. The demand for the raw resource currencies grew due to the lack of progress regarding the US/China trading conflict. The quotes are consolidating in the 1.32250-1.32700 range, you should open positions from these levels. Investors are waiting for the Bank of Canada decision regarding the key interest rate at 17:00 (GMT+2). Experts are thinking that the regulator will leave the positions the same.

The Economic News Feed for 09.01.2019 is calm.

USD/CAD

The price fixed below 50 MA and 200 MA which points to the power of the sellers.

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

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which points toward the correction of the USD/CAD pair.

Trading recommendations
  • Support levels: 1.32250, 1.32000
  • Resistance levels: 1.32700, 1.33100, 1.33650

If the price fixes below 1.32250, expect further growth of toward 1.31750-1.31500.

Alternatively the quotes can correct toward 1.33000-1.33400.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.700
  • Open: 108.727
  • % chg. over the last day: +0.03
  • Day’s range: 108.700 – 109.000
  • 52 wk range: 104.56 – 114.56

The USD/JPY has stabilized. The USD/JPY quotes are consolidating. The investors are waiting for additional drivers. The key support and interest rates are 108.300 and 109.000, positions should be opened from the key levels. The FOMC Minutes are in the spotlight. You should keep an eye on the US/China trading conflict.

The Economic News Feed for 09.01.2019 is calm.

USD/JPY

Indicators do not provide precise signals, the price fixed between 50 MA and 200 MA.

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

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which points toward a bearish sentiment.

Trading recommendations
  • Support levels: 108.300, 107.400, 106.500
  • Resistance levels: 109.000, 109.500

If the price fixes above the round 109.000 expect further growth toward 109.500-109.750.

Alternatively the quotes can descend toward the round 108.000.

Analytics by JustForex