The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.10089
Open: 1.10063
% chg. over the last day: -0.02
Day’s range: 1.09956 – 1.10110
52 wk range: 1.0884 – 1.1623
The EUR/USD currency pair continues to show negative dynamics. EUR/USD quotes again updated local lows. The trading instrument is currently consolidating. The local support and resistance levels are: 1.09900 and 1.10150, respectively. Investors continue to monitor the trade conflict between the US and China. According to media reports, trade negotiations between Washington and Beijing stalled over the purchase of agricultural products. Today we expect important economic reports from the USA. We recommend opening positions from key levels.
The Economic News Feed for 14.11.2019:
Preliminary report on GDP (EU) – 12:00 (GMT+2:00);
Initial Jobless Claims (EU) – 15:30 (GMT+2:00);
Manufacturer’s Price Index (US) – 15:30 (GMT+2:00);
We also recommend paying attention to the speeches of the head of the Fed and representatives of the FOMC.
Germany published optimistic data on the country’s GDP for the third quarter.
Indicators point to the power of sellers: the price has fixed below 50 MA and 100 MA.
The MACD histogram is in the negative zone and continues to decline, which indicates a bearish sentiment.
The Stochastic Oscillator has reached the oversold zone, the %K line is below the %D line, which gives a weak signal to sell EUR / USD.
Trading recommendations
Support levels: 1.09900, 1.09500
Resistance levels: 1.10250, 1.10400, 1.10600
If the price consolidates below 1.09900, expect the quotes to sell toward 1.09600-1.09400.
Alternatively, the quotes could grow toward 1.09600-1.09400.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.28488
Open: 1.28526
% chg. over the last day: +0.07
Day’s range: 1.28250 – 1.28572
52 wk range: 1.1959 – 1.3385
The GBP/USD currency pair continues to consolidate. Unidirectional trends are not observed. Sterling tests local support and resistance levels: 1.28200 and 1.28550, respectively. Market participants expect up-to-date information regarding the Brexit process. Today, investors will evaluate important statistics from the UK and the USA. The trading instrument can recover. Open positions from key levels.
At 11:30 (GMT+2:00), expect a report on retail sales in the UK.
Indicators do not give accurate signals: the price crossed 50 MA and 100 MA.
The MACD histogram has started to decline, which indicates a bearish mood.
The Stochastic Oscillator is in the oversold zone, the %K line crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.28200, 1.27900, 1.27700
Resistance levels: 1.28550, 1.28800, 1.29000
If the price consolidates above 1.28550, expect the quotes to rise toward 1.28800-1.29000.
Alternatively, expect the quotes to descend toward 1.27900-1.27700.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.32319
Open: 1.32518
% chg. over the last day: +0.15
Day’s range: 1.32485 – 1.32630
52 wk range: 1.2727 – 1.3664
On the USD/CAD currency pair, a bullish sentiment still prevails. CAD is currently consolidating near monthly highs. The key support and resistance levels are 1.32350 and 1.32650, respectively. The trading instrument has the potential for further growth. We are expecting important economic releases from the USA. We also recommend paying attention to the dynamics of oil quotes. Open positions from key levels.
The Economic News Feed for 14.11.2019 is calm.
The price fixed above 50 MA and 100 MA, which signals the strength of buyers.
The MACD histogram is in the positive zone and above the signal line, which gives a strong signal to buy 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: 1.32350, 1.32150, 1.31900
Resistance levels: 1.32650, 1.33000
If the price consolidates above 1.32650, expect further growth toward 1.33000.
Alternatively, the quotes can descend toward 1.32150-1.32000.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 109.002
Open: 108.833
% chg. over the last day: -0.20
Day’s range: 108.627 – 108.863
52 wk range: 104.97 – 114.56
The USD/ PY currency pair went down. The trading tool has updated local lows. Demand for safe haven currencies resumed amid uncertainty in trade negotiations between Washington and Beijing, as well as a new wave of protests in Hong Kong. At the moment, USD/JPY quotes are consolidating in the range of 108.650-108.900. The yen has the potential for further growth relative to the USD. Today we recommend paying attention to the news background from the USA. Positions must be opened from key levels.
During the Asian trading session, Japan published a weak GDP report.
The price fixed below 50 MA and 100 MA, which signals the strength of sellers.
The MACD histogram is in the negative zone and continues to decline, which indicates a bearish sentiment.
The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy USD/JPY.
Trading recommendations
Support levels: 108.650, 108.500, 108.300
Resistance levels: 108.900, 109.150, 109.300
If the price consolidates below 108.650, expect the quotes to descend toward 108.200.
Alternatively, the quotes could grow toward 109.150-109.300.
