The Analytical Overview of the Main Currency Pairs on 2019.11.22

The EUR/USD currency pair

• Prev Open: 1.10731
• Open: 1.10585
• % chg. over the last day: -0.07
• Day's range: 1.10538 – 1.10711
• 52 wk range: 1.0884 – 1.1623

The EUR/USD currency pair continues to trade flat. There is no defined trend. At the moment, the local support and resistance levels are 1.10550 and 1.10800, respectively. Germany published optimistic data on the country's GDP for the third quarter. We do not exclude further growth of the trading instrument. Financial market participants continue to monitor the situation around US-China trade negotiations. Today, investors will evaluate a number of important indicators of business activity in Germany and the EU. We recommend opening positions from key levels.

The Economic News Feed for 22.11.2019:

• - Busines Activity Reports (GER, EU) – 10:30, 11:00 (GMT+2:00);

Indicators do not give accurate signals: 50 MA crossed 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 crossed the %D line. There are no signals at the moment.

• Support levels: 1.10550, 1.10400, 1.10150
• Resistance levels: 1.10800, 1.11000, 1.11250

If the price consolidates above the level of 1.10800, expect the quotes to grow toward 1.11000-1.11200.

Alternatively, the quotes could drop toward 1.10200.

The GBP/USD currency pair

• Prev Open: 1.29222
• Open: 1.29055
• % chg. over the last day: -0.04
• Day's range: 1.29031 - 1.29267
• 52 wk range: 1.1959 - 1.3385

GBP/USD is still sideways. Unidirectional trends are not observed. Sterling is currently testing a resistance level of 1.29300. 1.28900 is a key support. Investors continue to monitor the situation around Brexit and the upcoming elections in the UK. British opposition leader Jeremy Corbin introduced the Labor Program, which outlines radical plans to transform Britain with higher salaries in the public sector, higher taxes on companies and the rapid nationalization of infrastructure. Open positions from key levels.

At 11:30 (GMT+2:00) a number of indicators on business activity in the UK will be published.

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

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

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

• Support levels: 1.28900, 1.28650, 1.28350
• Resistance levels: 1.29300, 1.29700, 1.29850

If the price consolidates above 1.29300, expect the quotes to rise toward 1.29600-1.30000.

Alternatively, the quotes can descend toward 1.28700-1.28500.

The USD/CAD currency pair

• Prev Open: 1.33026
• Open: 1.32828
• % chg. over the last day: -0.17
• Day's range: 1.32698 - 1.32882
• 52 wk range: 1.2727 - 1.3664

The USD/CAD currency pair went down. CAD updated local lows. At the moment, USD/CAD quotes are consolidating. The local support and resistance levels are 1.32700 and 1.33000, respectively. The Canadian dollar is supported by the positive dynamics of oil quotes. A trading instrument can decline further. We are expecting important economic releases from Canada. Open positions from key levels.

The Economic News Feed for 22.11.2019 is calm.

Indicators do not give accurate signals: the price has fixed between 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 USD/CAD.

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

• Support levels: 1.32700, 1.32550, 1.32350
• Resistance levels: 1.33000, 1.33250

If the price consolidates below 1.32700, expect a further drop in the USD/CAD quotes to 1.32500-1.32300.

Alternatively, the quotes could grow toward 1.33200-1.33400.

The USD/JPY currency pair

• Prev Open: 108.580
• Open: 108.625
• % chg. over the last day: -0.03
• Day's range: 108.570 - 108.709
• 52 wk range: 104.97 - 114.56

USD/JPY quotes are still in sideways movement. The technical pattern is ambiguous. The trading instrument continues to test local support and resistance levels at 108.450 and 108.700, respectively. Demand for safe haven currencies remains at a fairly high level amid uncertainty in trade negotiations between Washington and Beijing. We recommend you to pay attention to the dynamics of yield on US government bonds. Open positions from key levels.

The Economic News Feed for 22.11.2019 is calm.

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

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: 108.450, 108.250, 108.000
• Resistance levels: 108.700, 108.900, 109.050

If the price consolidates below 108.450, expect the quotes to fall toward 108.000.

Alternatively, the quotes could grow toward 108.900-109.100.

by JustMarkets, 2019.11.22

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.