The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.11493
Open: 1.11128
% chg. over the last day: -0.31
Day’s range: 1.11122 – 1.11326
52 wk range: 1.0879 – 1.1572
The EUR/USD currency pair is still in sideways movement. The technical picture is ambiguous. Participants in financial markets expect additional drivers. At the moment, the local support and resistance levels are 1.11100 and 1.11350, respectively. We recommend you yo keep track of up-to-date information regarding trade negotiations between Washington and Beijing. Today, investors will evaluate important economic releases from the United States. You should open positions from key levels.
The Economic News Feed for 19.12.2019:
The index of production activity from the Federal Reserve Bank of Philadelphia (US) – 15:30 (GMT+2:00);
sales in the secondary housing market (US) – 17:00 (GMT+2:00);
Indicatorsdo not give accurate signals: 50 MA has crossed 100 MA.
The MACD histogram has approached the 0 mark. There are no signals at the moment.
The Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no exact signals.
Trading recommendations
Support levels: 1.11100, 1.10900, 1.10600
Resistance levels: 1.11350, 1.11550, 1.11700
If the price consolidates above 1.11350, expect the quotes to ascend toward 1.11600-1.11800.
Alternatively, the quotes could drop toward 1.10800-1.10600.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.31253
Open: 1.30801
% chg. over the last day: -0.34
Day’s range: 1.30705 – 1.30975
52 wk range: 1.1959 – 1.3516
The GBP/USD currency pair has stabilized after a significant drop since the beginning of this week. Sterling is currently consolidating. The local support and resistance levels are: 1.30650 and 1.31350, respectively. Investors took a wait and see attitude before the meeting of the Bank of England. It is expected that the regulator will maintain the basic parameters of monetary policy at the same level. We recommend keeping track of up-to-date information regarding the Brexit process. Positions must be opened from key levels.
The Economic News Feed for 19.12.2019:
Retail Sales Report (UK) – 11:30 (GMT+2:00);
Decision on the Interest Rate from Bank of England (UK) – 14:00 (GMT+2:00);
Indicators signal the power of sellers: the price has fixed below 50 MA and 100 MA.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.
The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicatesa bullish sentiment.
Trading recommendations
Support levels: 1.30650, 1.30300
Resistance levels: 1.31350, 1.32100, 1.33000
If the price consolidates below 1.30650, expect a further drop toward 1.30300-1.30000.
Alternatively, the quotes could grow toward 1.32000-1.32300.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.31593
Open: 1.31140
% chg. over the last day: -0.34
Day’s range: 1.31076 – 1.31197
52 wk range: 1.3014 – 1.3664
USD/CAD has moved into a decline again. The trading tool has updated local lows. Looney is currently consolidating. The local support and resistance levels are 1.31000 and 1.31300, respectively. The Canadian dollar is supported by the positive dynamics of oil quotes. The USD/CAD currency pair has the potential for further decline. Today we recommend paying attention to statistics on the US economy. Open positions from key levels.
At 15:30 (GMT+2:00), a report on the volume of wholesale sales in Canada will be published.
Indicators signal the power of sellers: the price has fixed below 50 MA and 100 MA.
The MACD histogram is in the negative zone but above the signal line, which gives a weak signal to sell USD/CAD.
The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish sentiment.
Trading recommendations
Support levels: 1.31000, 1.30700
Resistance levels: 1.31300, 1.31500, 1.31800
If the price consolidates below the round level of 1.31000, expect the quotes to rise toward 1.30700-1.30500.
Alternatively, the quotes could grow toward 1.31500-1.31700.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 109.472
Open: 109.575
% chg. over the last day: +0.08
Day’s range: 109.524 – 109.683
52 wk range: 104.45 – 113.53
The USD/JPY currency pair continues to trade flat. Unidirectional trends are not observed. The trading tool tests local support and resistance levels: 109.400 and 109.650, respectively. USD/JPY quotes have the potential for further growth. We recommend that you pay attention to economic reports, as well as the dynamics of the yield of US government securities. Open positions from key levels.
The Bank of Japan, as expected, kept the basic parameters of monetary policy at the same level. The regulator has improved the forecast for Japan’s GDP growth in 2020.
Indicators do not give accurate signals: the price is consolidating near 50 MA and 100 MA.
The MACD histogram has approached the 0 mark.
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: 109.400, 109.250, 109.050
Resistance levels: 109.650, 110.000
If the price consolidates above 109.650, expect a further growth toward 110.000-110.200.
Alternatively, the quotes could drop toward 109.250-109.100.
