The Analytical Overview of the Main Currency Pairs on 2019.08.20

The EUR/USD currency pair

• Prev Open: 1.10921
• Open: 1.10776
• % chg. over the last day: -0.11
• Day's range: 1.10776 - 1.10885
• 52 wk range: 1.1034 - 1.1817

The EUR/USD currency pair continues to consolidate. The technical picture is ambiguous. At the moment, the local support and resistance levels are: 1.10650 and 1.10950, respectively. The US president again criticized the Fed for a “strong” dollar. Donald Trump believes that the Central Bank in the near future should consider reducing the key interest rate by 100 basis points. We recommend opening from key levels.

In July, the producer price index in Germany rose by 0.1% compared with the forecasted value of 0.0%.

Indicators point to the strength 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 EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which also indicates a bearish sentiment.

• Support levels: 1.10650, 1.10500
• Resistance levels: 1.10950, 1.11300, 1.11650

If the price consolidates below the level of 1.10650, expect a further drop toward 1.10300-1.10000.

Alternatively, the price could grow toward 1.11200-1.11400.

The GBP/USD currency pair

• Prev Open: 1.21500
• Open: 1.21236
• % chg. over the last day: -0.19
• Day's range: 1.21174 - 1.21380
• 52 wk range: 1.2015 - 1.3385

An ambiguous technical picture has developed on the GBP/USD currency pair. The pound is currently in lateral movement. The key support and resistance levels are: 1.21000 and 1.21400, respectively. GBP/USD quotes have the potential for further growth. Market participants are waiting for new information regarding the Brexit process. Positions must be opened from key levels.

The Economic News Feed for 20.08.2019 is calm.

Indicators do not give accurate signals: the price has fixed between 50 MA and 100 MA.

The MACD histogram is near the 0.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish sentiment.

• Support levels: 1.21000, 1.20750, 1.20450
• Resistance levels: 1.21400, 1.21750, 1.21900

If the price consolidates above 1.21400, expect further growth toward 1.21750-1.22000.

Alternatively, the price could decrease toward 1.20750-1.20600.

The USD/CAD currency pair

• Prev Open: 1.32694
• Open: 1.33234
• % chg. over the last day: +0.39
• Day's range: 1.33087 - 1.33307
• 52 wk range: 1.2727 - 1.3664

Yesterday, aggressive purchases were observed on the USD/CAD currency pair. Quotation growth exceeded 60 points. The CAD reached key extremes. At the moment, the trading instrument is consolidating in the range of 1.33000-1.33400. We do not exclude further growth of the USD / CAD currency pair. Today, the news background on the Canadian economy is quite calm. We recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.

At 15:30 (GMT+3:00) we expect data on sales in the manufacturing sector of Canada.

Indicators do not give accurate signals: 50 MA crossed 100 MA.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.

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

• Support levels: 1.33000, 1.32750, 1.32500
• Resistance levels: 1.33400, 1.33700, 1.34000

If the price consolidates above 1.33400, expect further growth toward 1.33700-1.34000.

Alternatively, the price could drop toward 1.32750-1.32600.

The USD/JPY currency pair

• Prev Open: 106.250
• Open: 106.624
• % chg. over the last day: +0.24
• Day's range: 106.429 - 106.692
• 52 wk range: 104.97 - 114.56

The USD/JPY currency pair continues to consolidate. The technical picture is still mixed. At the moment, ецщ local support and resistance levels can be distinguished: 106.300 and 106.700. A trading instrument has a potential for growth. Participants in financial markets expect additional drivers. We recommend that you pay attention to the yield dynamics on the US Treasury bonds. Positions must be opened from key levels.

The Economic News Feed for 20.08.2019 is calm.

The price fixed above 50 MA and 100 MA, which points to the strength of buyers.

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 is below the %D line, which indicates a bearish sentiment.

• Support levels: 106.300, 106.000, 105.750
• Resistance levels: 106.700, 107.000

If the price consolidates above 106.700, expect further growth toward 107.000-107.200.

Alternatively, the price could drop toward 106.000.

by JustMarkets, 2019.08.20

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.