The Analytical Overview of the Main Currency Pairs on 2018.11.16

The EUR/USD currency pair

• Prev Open: 1.13067
• Open: 1.13230
• % chg. over the last day: +0.12
• Day's range: 1.13215 – 1.13679
• 52 wk range: 1.1299 – 1.2557

EUR keeps slowly recovering. At the moment, the EUR/USD quotes are testing the local resistance 1.13650. The nearest support line is 1.13200. The investors are waiting for the EU inflation report, positions should be opened from the key levels. The currency pair has good prospects for growth.

• - Customer Price Index (EU) - 12:00 (GMT+2:00);
• - Manufacturing Index (US) - 16:15 (GMT+2:00).

The indicators do not provide precise signals, the price went over 200 MA.

The MACD histogram is in the positive zone and above the signal line, which give a strong signal towards the purchase of EUR/USD.

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

• Support levels: 1.13200, 1.12700, 1.12200
• Resistance levels: 1.13650, 1.14000, 1.14400

If the price fixes above 1.13650, expect further growth. Potentially towards 1.14000-1.14400.

Alternatively, the price will fix below 1.13200 and you should consider selling EUR/USD. The movement will tend toward 1.12800-1.12600.

The GBP/USD currency pair

• Prev Open: 1.29812
• Open: 1.27629
• % chg. over the last day: -1.77
• Day's range: 1.27564 – 1.28339
• 52 wk range: 1.2662 – 1.4378

Political pressure regarding Brexit keeps pushing the pound down. The fall of the GBP/USD quotes went over 200 pounds. The Secretary of UK for Exiting the EU, Dominic Raab, announced his resignation due to inability to approve the current London/Brussels negotiations. GBP/USD is currently being traded between 1.27800-1.28400. You should open the positions from these levels.

No important publications are planned for today.

The price is below both 50 MA and 200 MA, which indicates the power of the sellers.

The MACD histogram is in the negative zone but above the signal line, which gives a weak signal towards the sale of GBP/USD.

The Stochastic Oscillator is in near the overbought zone, the %K line begins to cross the %D line, which provides no signals.

• Support levels: 1.27800, 1.27250, 1.27000
• Resistance levels: 1.28400, 1.29000, 1.29500

If the price fixes below the current support 1.27800, expect further descend of the quotes toward 1.27300-1.27000.

Alternatively, the quotes can rise towards the 1.28800-1.29000.

The USD/CAD currency pair

• Prev Open: 1.32404
• Open: 1.31762
• % chg. over the last day: -0.50
• Day's range: 1.31490 – 1.31808
• 52 wk range: 1.2248 – 1.3387

The USD/CAD quotes started to go down. Yesterday they descended for 65 points. At the moment, it is consolidating. The local support and resistance levels are 1.31500 and 1.31800. USD/CAD has potential for further correction.

At 15:30 (GMT+2) expect data regarding the Manufacturing Sales in Canada.

The indicators show the power fo the sellers: the price fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone, but above the signal line, which give a weak signal towards a sale of USD/CAD.

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

• Support levels: 1.31500, 1.31200, 1.30900
• Resistance levels: 1.31800, 1.32150, 1.32500

If the price fixes below 1.31150, consider selling USD/CAD. The movement will tend toward the round 1.31200-1.31000.

Alternatively, the currency pair can grow to 1.32000-1.32200.

The USD/JPY currency pair

• Prev Open: 113.602
• Open: 113.637
• % chg. over the last day: -0.04
• Day's range: 113.215 – 113.637
• 52 wk range: 104.56 – 114.74

The USD/JPY quotes are showing an ambiguous technical picture. The trading instrument is in the flat. At the moment the local support and resistance lines are 113.200 and 113.400. Positions should be opened from these levels. Investors are waiting for the additional drivers, for example the economic reports from the US.

There have been no important news from Japan today.

The price is below 50 MA and 200 MA, which indicates the power of the sellers.

The MACD histogram is around in the negative zone but below the signal line. It provides a strong signal towards the sale of JPY/USD.

The Stochastic Oscillator is in the negative zone, the %K line is above the %D line, which indicates a bullish mood.

• Support levels: 113.200, 113.000, 112.700
• Resistance levels: 113.450, 113.650, 114.000

If the price fixes below the support 113.200, expect a further descend of the quotes. The movement will tend toward 113.000-112.700.

Alternatively, quotes can grow towards 113.600-113.800.

by JustMarkets, 2018.11.16

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.