The Analytical Overview of the Main Currency Pairs on 2019.08.21

August 21, 2019

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10776
  • Open: 1.10998
  • % chg. over the last day: +0.18
  • Day’s range: 1.10912 – 1.11053
  • 52 wk range: 1.1034 – 1.1817

The technical picture on the EUR/USD currency pair remains mixed. The trading instrument continues to consolidate. At the moment, the key support and resistance levels of 1.10700 and 1.11100 can be distinguished. The euro can recover further. The investors took a wait-and-see attitude before the publication of the FOMC protocols, which may indicate the further rate of adjustment of the monetary policy of the Fed. Recall, that earlier Donald Trump once again criticized the Central Bank for a strong dollar. We also recommend that you keep track of current information regarding the trade conflict between Washington and Beijing. Positions must be opened from key levels.

The Economic News Feed for 21.08.2019:

  • – Sales in the secondary housing market (US) – 17:00 (GMT+3:00);
  • – FOMC Minutes Publication (US) – 21:00 (GMT+3:00);
EUR/USD

Indicators do not give accurate signals: the price crossed 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.


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The Stochastic Oscillator is in the neutral zone, the %K line began to cross the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.10700, 1.10500
  • Resistance levels: 1.11100, 1.11300, 1.11650

If the price consolidates above 1.11100, expect a correction toward 1.11300-1.11600.

Alternatively, the quotes can descend toward 1.10500-1.10300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.21236
  • Open: 1.21698
  • % chg. over the last day: +0.30
  • Day’s range: 1.21328 – 1.21750
  • 52 wk range: 1.2015 – 1.3385

Since the beginning of this week the trading on the GBP/USD currency pair has been very active. At the same time, there is no defined trend. GBP is in lateral movement. At the moment, the local support and resistance levels are: 1.21250 and 1.21550, respectively. GBP/USD quotes have a potential for recovery. Today we recommend paying attention to economic releases from the USA. Positions must be opened from key levels.

The Economic News Feed for 21.08.2019 is calm.

GBP/USD

Indicators do not give accurate signals: the price is consolidating near 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 GBP/USD.

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

Trading recommendations
  • Support levels: 1.21250, 1.21000, 1.20700
  • Resistance levels: 1.21550, 1.21750, 1.22000

If the price consolidates above 1.21550, expect further growth 1.21800-1.22000.

Alternatively, the quotes could descend toward 1.21000-1.20800.

The USD/CAD currency pair

Technical indicators of the currency pair: 1.33234
  • Prev Open: 1.33234
  • Open: 1.33177
  • % chg. over the last day: -0.04
  • Day’s range: 1.32989 – 1.33242
  • 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair has stabilized after a sharp increase since the beginning of this week. CAD is currently consolidating. The local support and resistance levels are 1.33000 and 1.33250, respectively. Financial market participants took a wait and see attitude before the release of important economic reports from the USA and Canada. We also recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.

At 15:30 (GMT + 3: 00) we expect an inflation report for Canada.

USD/CAD

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

The MACD histogram is near the 0 mark.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates bullish sentiment.

Trading recommendations
  • Support levels: 1.33000, 1.32750, 1.32500
  • Resistance levels: 1.33250, 1.33450, 1.33700

If the price consolidates above 1.33250, expect further growth toward 1.33500-1.33700.

Alternatively, the quotes could drop toward 1.32750-1.32500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.624
  • Open: 106.223
  • % chg. over the last day: -0.34
  • Day’s range: 106.220 – 106.551
  • 52 wk range: 104.97 – 114.56

The USD/JPY currency pair is in lateral movement. There is no defined trend. At the moment, the trading instrument is testing a local resistance of 106.550. Mark 106.200 is the immediate support. USD/JPY quotes have the potential for further growth. Today, investors will evaluate the FOMC protocols. We also recommend paying attention to the dynamics of yield on US government bonds. Positions must be opened from key levels.

The Economic News Feed for 21.08.2019 is calm.

USD/JPY

Indicators of accurate signals do not give: the price is testing 50 MA.

The MACD histogram is near the 0 mark.

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

Trading recommendations
  • Support levels: 106.200, 105.750, 105.500
  • Resistance levels: 106.550, 106.750, 107.000

If the price consolidates above 106.550, expect further growth toward 107.000-107.200.

Alternatively, the quotes can drop toward 105.800-105.600.

by JustForex