The Analytical Overview of the Main Currency Pairs on 2019.10.15

October 15, 2019

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10316
  • Open: 1.10271
  • % chg. over the last day: -0.02
  • Day’s range: 1.10215 – 1.10334
  • 52 wk range: 1.0884 – 1.1623

An ambiguous technical picture has developed on the EUR/USD currency pair. A trading instrument is consolidating. At the moment, the local support and resistance levels are 1.10150 and 1.10400, respectively. Financial market participants are waiting for new information regarding trade negotiations between the US and China. Today, investors will evaluate important economic releases from Germany. Positions must be opened from key levels.

The Economic News Feed for 15.10.2019:

  • – ZEW economic sentiment index (GER) – 12:00 (GMT+3:00);
  • – ZEW economic sentiment index (EU) – 12:00 (GMT+3:00);
  • – NY Empire State manufacturing activity index (US) – 15:30 (GMT+3:00);
EUR/USD

Indicators do not give accurate signals: the price crossed 50 MA.

The MACD histogram is located near the 0 mark.


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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: 1.10150, 1.09900, 1.09650
  • Resistance levels: 1.10400, 1.10600

If the price consolidates above the resistance level of 1.10400, expect further growth toward 1.10700-1.10900.

Alternatively, the quotes can decrease toward 1.09900-1.09700.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26237
  • Open: 1.26016
  • % chg. over the last day: -0.06
  • Day’s range: 1.26008 – 1.26371
  • 52 wk range: 1.1959 – 1.3385

The British pound stabilized after a significant rally last week. Optimism over the settlement of the Brexit process began to weaken. EU diplomats said they want additional concessions from Prime Minister Boris Johnson. Currently, the GBP/USD currency pair is consolidating. The local support and resistance levels are: 1.25700 and 1.26450, respectively. We are expecting important economic reports from the UK. We recommend opening positions from key levels.

At 11:30 (GMT+3:00), UK will publish the labor statistics. Keep an eye on the speech by the head of the Bank of England.

GBP/USD

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

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

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

Trading recommendations
  • Support levels: 1.25700, 1.25150, 1.24250
  • Resistance levels: 1.26450, 1.27000

If the price consolidates above 1.26450, expect further growth toward 1.27000-1.27400.

Alternatively, the quotes will reduce toward 1.25200-1.24800.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32012
  • Open: 1.32345
  • % chg. over the last day: +0.18
  • Day’s range: 1.32181 – 1.32345
  • 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair retreated from monthly lows after a sharp fall at the end of last week. CAD is currently consolidating. The local support and resistance levels are 1.32100 and 1.32400, respectively. A trading instrument has the potential to further decline. We recommend that you pay attention to the dynamics of prices for oil. Positions must be opened from key levels.

The publication of important economic reports from Canada is not planned.

USD/CAD

Indicators do not give accurate signals: the price crossed 50 MA.

The MACD histogram is near 0.

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: 1.32100, 1.31800
  • Resistance levels: 1.32400, 1.32700, 1.33000

If the price consolidates below 1.32100, expect further drop toward 1.31800-1.31500.

Alternatively, the quotes will grow toward 1.32700-1.32900.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.343
  • Open: 108.397
  • % chg. over the last day: +0.02
  • Day’s range: 108.281 – 108.447
  • 52 wk range: 104.97 – 114.56

The USD/JPY currency pair stabilized near two-month highs. The trading instrument is currently consolidating. The local support and resistance levels are 108.100 and 108.450, respectively. Investors continue to monitor the progress of trade negotiations between Washington and Beijing. We also recommend paying attention to the dynamics of yield on US government bonds. Positions must be opened from key levels.

n the Asian trading session, some weak data was published on the volume of industrial production and business activity in the Japanese services sector.

USD/JPY

Indicators do not give accurate signals: the price crossed 50 MA.

The MACD histogram is near 0.

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: 108.100, 107.750, 107.45
  • Resistance levels: 108.450, 108.700, 109.000

If the price consolidates above 108.450, expect further growth toward 108.700-109.000.

Alternatively, the quotes could decrease toward 107.800-107.600.

by JustForex