The Analytical Overview of the Main Currency Pairs on 2019.01.11

The EUR/USD currency pair

• Prev Open: 1.15413
• Open: 1.14993
• % chg. over the last day: -0.30
• Day's range: 1.14964 – 1.15321
• 52 wk range: 1.1214 – 1.2557

EUR retreated from the local maximums. Yesterday the quotes fell by 40 points. Right now they are consolidating around 1.15100-1.15350, you should open positions from these levels. USD remains under pressure, since some representatives of the Federal Reserve do not want to increase the key interest rate in 2019. Today the attention will be on the US inflation report. Positions should be opened from the key levels.

The Economic News Feed for 11.01.2019:

• - Basic Consumer Price Index (US) – 15:30 (GMT+2:00);

The indicators do not provide precise signals, the price is testing 50 MA.

The MACD histogram is close to 0.

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

• Support levels: 1.15100, 1.14850, 1.14500
• Resistance levels: 1.15350, 1.15700, 1.16000

If the price fixes above 1.15350 expect growth toward 1.15700-1.16000.

Alternatively the quotes can correct toward 1.14850-1.14500.

The GBP/USD currency pair

• Prev Open: 1.27889
• Open: 1.27372
• % chg. over the last day: -0.29
• Day's range: 1.27157 – 1.27678
• 52 wk range: 1.2438 – 1.4378

GBP/USD remains in a long flat. There is no single well-defined trend. Right now the quotes are testing the local support and resistance levels of 1.27100 and 1.27650. The pound has a tendency to descend. The investors are waiting for important reports from the UK. Positions should be opened from the key levels.

The Economic News Feed for 11.01.2019:

• - GDP Report (UK) – 11:30 (GMT+2:00);
• - Production Volume in the Processing Industry Report (UK) – 11:30 (GMT+2:00);

The indicators do not provide precise signals, the price has fixed between 50 MA and 200 MA.

The MACD histogram started to descend, which points toward a bearish mood.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which points toward the sale of GBP/USD.

• Support levels: 1.27100, 1.26500, 1.26000
• Resistance levels: 1.27650, 1.28000

If the price fixes below the local support 1.27100 expect the quotes to dall toward 1.26600-1.26400.

Alternatively the quotes can grow toward 1.27750-1.28000.

The USD/CAD currency pair

• Prev Open: 1.32061
• Open: 1.32311
• % chg. over the last day: +0.24
• Day's range: 1.31839 – 1.32447
• 52 wk range: 1.2248 – 1.3664

The USD/CAD keeps showing a negative trend. At the moment CAD is testing the local support of 1.31800. 1.32200 is a mirror resistance. The demand for the USD is weakened after the FOMC minutes. The CAD is supported by the bullish mood on the oil quotes. USD/CAD can descend further, positions should be opened from the key levels.

The Economic News Feed for 11.01.2019 is calm.

• - Economic Event (CAD) – 00:00 (GMT+2:00);
• - Economic Event (CAD) – 00:00 (GMT+2:00);
• - Economic Event (CAD) – 00:00 (GMT+2:00);

The price fixed below 50 MA and 200 MA, which points toward the power of the sellers.

The MACD histogram is in the negative zone and below the signal line, which points to a descend of the USD/CAD quotes.

The Stochastic Oscillator is in the oversold zone, the %K line is below the %D line which gives a weak signal to sell USD/CAD.

• Support levels: 1.31800, 1.31500
• Resistance levels: 1.32200, 1.32700, 1.33100

If the price fixes below the local support 1.31800 expect the quotes to descend toward 1.31500-1.31200.

Alternatively the quotes can correct toward 1.32500-1.33000.

The USD/JPY currency pair

• Prev Open: 108.132
• Open: 108.425
• % chg. over the last day: +0.11
• Day's range: 108.230 – 108.472
• 52 wk range: 104.56 – 114.56

The USD/JPY is showing an ambiguous technical picture. Right now the quotes are consolidating around 108.000-108.500 and can descend further. Keep an eye on the US News Feed. You should open positions from the key levels.

The Economic News Feed for 11.01.2019 is calm.

The indicators do not provide precise signals, the price has crossed 50 MA and 200 MA.

The MACD histogram is close to 0.

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

• Support levels: 108.000, 107.500, 107.200
• Resistance levels: 108.500, 109.000, 109.500

If the price fixes below the round 108.000, expect the quotes to descend toward 107.500-107.200.

Alternatively the quotes can recover toward 109.000-109.250.

by JustMarkets, 2019.01.11

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.