The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.13687
Open: 1.13907
% chg. over the last day: +0.11
Day’s range: 1.13906 – 1.14426
52 wk range: 1.1214 – 1.2557
On Friday the USD weakened against the major currencies. The US published weak labour market reports for November. The yield of the US Treasury obligations keeps lowering, which adds pressure on the US curency. The financial market participants expect the Central Bank to slow the growth of the key interest rate down. The EUR/USD is consolidating at 1.14150-1.14400, you should open positions from these levels.
The Economic News Feed for 10.12.2018:
Job Openings and Labor Turnover Survey (US) – 17:00 (GMT+2)
The price fixed above both 50 MA and 200 MA, which indicates the power of the buyers.
The MACD histogram is in the positive zone and above the signal line which gives a signal towards the purchase of EUR/USD.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish sentiment.
Trading recommendations
Support levels: 1.14150, 1.13850, 1.13600
Resistance levels: 1.14400, 1.14800
If the price fixes above the resistance level of 1.14400, it is necessary to consider buying EUR/USD. The movement is tending to 1.14800-1.15000.
Alternatively, the quotes could descend to 1.13850-1.13600.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.27748
Open: 1.27022
% chg. over the last day: -0.44
Day’s range: 1.27021 – 1.27594
52 wk range: 1.2659 – 1.4378
The technical picture of GBP/USD remains ambiguous. The pound is being traded in a long flat. The event of the week is the voting on the Brexit project, which will happen on December 11. You should keep an eye on it. The key support and resistance levels are 1.27000 and 1.27400. Positions should be opened from these levels.
The Economic News Field for 10.12.2018:
GDP report for the 3rd quarter (UK) – 11:30 (GMT+2:00);
Manufacturing Industry Volume Report (UK) – 11:30 (GMT+2:00).
Indicators show the power of the sellers. The price is below 50 MA and 200 MA.
The MACD histogram is in the negative zone and keeps falling, which indicates a strong bearish sentiment.
Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which points towards the descend of the GBP/USD.
Trading recommendations
Support levels: 1.27000, 1.26750
Resistance levels: 1.27400, 1.27800, 1.28000
If the price fixes below 1.27000, the GBP/USD quotes are expected to fall. The movement is tending to 1.26750-1.26500.
An alternative could be a growth in the GBP/USD currency pair to 1.27800-1.28000.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.33772
Open: 1.33328
% chg. over the last day: -0.44
Day’s range: 1.32929 – 1.33332
52 wk range: 1.2248 – 1.3445
Friday was marked by the aggressive sales of USD/CAD. The demand for CAD grew after the release of the positive labour market report in Canada. The USD/CAD quotes` price lowered by more than 100 pips and updated the local minimums. The quotes are consolidating at 1.32900-1.33300. Positions should be opened from these levels. The USD/CAD quotes can descend further.
At 15:30 (GMT+2:00), Canada will publish the real estate market reports
The indicators are ambiguous, the price has fixed between the 50 MA and 200 MA.
The MACD histogram is in the negative zone, the %K line is above the %D line, which points towards the growth of the USD/CAD quotes.
The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which points towards the growth of the USD/CAD quotes.
Trading recommendations
Support levels: 1.32900, 1.32500
Resistance levels: 1.33300, 1.33600, 1.34000
If the price fixes below the local support of 1.32900, further descend of the USD/CAD quotes is expected. The movement is tending to 1.32500-1.32300.
Alternative option. If the price fixes above 1.33300, we recommend looking for market entry points to open long positions. The movement is tending to 1.33600-1.33800.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 112.649
Open: 112.613
% chg. over the last day: -0.05
Day’s range: 112.240 – 112.739
52 wk range: 104.56 – 114.56
The USD/JPY technical picture points toward a possible growth. The technical instrument is showing a classic reversal figure. The local support and resistance levels are 112.600 and 112.850. The weak GDP report from Japan adds pressure on the yen. You should open positions from the key levels.
The GDP growth in Japan slowed down by 0.6% in the third quarter. Experts expected it to slow down by 0.5%.
Indicators do not provide precise data, the price has crossed the 50 MA.
The MACD histogram is in the negative zone but above the signal line, which gives a weak signal to sell USD/JPY.
The Stochastic Oscillator is in the overbought zone, the %K line is crossing the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 112.600, 112.300
Resistance levels: 112.850, 113.100, 113.250
If the price fixes above the support level of 112.850, it is necessary to consider buying USD/JPY. The movement is tending to 113.100-113.250.
An alternative could be the descend of the USD/JPY quotes to 112.400-112.200.
