The Analytical Overview of the Main Currency Pairs on 2018.12.18

The EUR/USD currency pair

• Prev Open: 1.13004
• Open: 1.13472
• % chg. over the last day: +0.39
• Day's range: 1.13369 – 1.13703
• 52 wk range: 1.1214 – 1.2557

EUR started to grow. During the last two days of trading EUR/USD grew by 65 points. The trading instrument updated the local maximums. The demand for the EUR is supported by the news from Italy. The official Rome and Brussels reached an agreement regarding the 2019 budget. The investors are waiting for the Federal Reserve meeting. You should open positions from the key rage of 1.13350-1.13700.

The Economic News Feed for 18.12.2018:

• - IFO Business Climate Index (GER) - 11:00 (GMT+2:00);
• - Real Estate Report (US) - 15:30 (GMT+2:00).

The price has crossed 200 MA. There are no signals at the moment.

The MACD histogram is in the positive zone and keeps rising, which points towards the further growth of the EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which points toward a bullish sentiment.

• Support levels: 1.13350, 1.13150, 1.13000
• Resistance levels: 1.13700, 1.13900, 1.14100

If the price fixes above the resistance level 1.13700 expect further growth of the EUR/USD quotes toward 1.14000-1.14250.

Alternatively, the quotes can descend toward 1.13150-1.13000.

The GBP/USD currency pair

• Prev Open: 1.25996
• Open: 1.26132
• % chg. over the last day: +0.24
• Day's range: 1.26093 – 1.26622
• 52 wk range: 1.2477 – 1.4378

GBP/USD has an ambiguous technical picture. The trading instrument is moving in a flat. The financial market participants are waiting for the Federal Reserve and Bank of England meetings. Keep an eye on the Brexit conundrum. Positions should be opened from the key support and resistance levels of 1.26100 and 1.26600.

The Economic News Feed for 18.12.2018 is calm.

The indicators do not provide precise signals: the price has crossed 200 MA.

The MACD histogram is in the positive zone and above the signal line, which gives a strong signal towards buying GBP/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: 1.26100, 1.25700, 1.25300
• Resistance levels: 1.26600, 1.27000

If the price fixed above 1.26600, expect further growth of the GBP/USD quotes toward the round 1.27000.

Alternatively the quotes can descend toward 1.25700-1.25500.

The USD/CAD currency pair

• Prev Open: 1.33811
• Open: 1.34063
• % chg. over the last day: +0.19
• Day's range: 1.33934 – 1.34201
• 52 wk range: 1.2248 – 1.3445

The technical picture for USD/CAD remains ambiguous. There is no single defined trend. The CAD keeps consolidating, making a technical correction highly possible. You should open positions from the key levels of 1.33850 and 1.34200 and keep an eye on the oil quotes dynamic.

The Economic News Feed for 18.12.2018 is calm.

There are no precise signals, the price is testing 50 MA and 200 MA.

MACD is close to 0, there are no signals.

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

• Support levels: 1.33850, 1.33600, 1.33250
• Resistance levels: 1.34200, 1.34450

If the price fixes above the resistance level of 1.34200, the quotes are expected to grow toward 1.34500-1.34700.

Altenatively, the price fixes below 1.33850, you should look for the market entry points to open short positions. The movement will tend toward 1.33600-1.33400.

The USD/JPY currency pair

• Prev Open: 113.336
• Open: 112.823
• % chg. over the last day: -0.49
• Day's range: 112.341 – 112.855
• 52 wk range: 104.56 – 114.56

USD/JPY sees some aggressive sell-offs. The yen grew against the USD by more than 100 points. The trading instrument updated the key extremums. The local support and resistance levels are 112.300 and 112.600. The USD/JPY quotes have a tendency to descend. Positions should be opened from the key levels.

The Economic News Feed for 18.12.2018 is calm.

Indicators point toward the power of the sellers: the price fixed below 50 MA and 200 MA.

MACD is in the negative zone and below the signal line, which gives a strong signal to sell USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which also points towards a bearish mood.

• Support levels: 112.300, 112.000
• Resistance levels: 112.600, 112.850, 113.000

If the price fixes below the 112.300 support level, you should expect the quotes to fall toward 112.000-111.700.

Alternatively, the currency pair can recover toward 112.750-113.000.

by JustMarkets, 18.12.2018

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.