The Analytical Overview of the Main Currency Pairs on 2019.09.24

The EUR/USD currency pair

• Prev Open: 1.10068
• Open: 1.09930
• % chg. over the last day: -0.11
• Day's range: 1.09868 – 1.09975
• 52 wk range: 1.0931 – 1.1817

Yesterday, the bearish sentiment prevailed on the EUR/USD currency pair. The EUR came under pressure after the release of weak business activity report in the EU, which further strengthened investors' concerns about the development of the recession. The trading tool has updated local lows. At the moment, EUR/USD quotes are consolidating near the round level of 1.10000. 1.09650 is a key support. The single currency has the potential to further decline. We recommend opening positions from key levels.

The Economic News Feed for 24.09.2019:

• - IFO Business Climate Index (EU) – 11:00 (GMT+3:00);
• - CB Consumer Confidence Index (US) – 17:00 (GMT+3:00);

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 crossed the %D line. There are no signals at the moment.

• Support levels: 1.09650, 1.09300
• Resistance levels: 1.10000, 1.10250, 1.10600

If the price consolidates below 1.09650, expect a further drop toward 1.09400-1.09200.

Alternatively, the quotes can grow toward 1.10250-1.10500.

The GBP/USD currency pair

• Prev Open: 1.24642
• Open: 1.24328
• % chg. over the last day: -0.29
• Day's range: 1.24240 - 1.24384
• 52 wk range: 1.1995 - 1.3385

The GBP/USD currency pair went down. The trading tool has updated local lows. Participants in financial markets began to partially fix positions on the pound after a protracted rally. Currently, GBP/USD quotes are consolidating. The key support and resistance levels are 1.24000 and 1.24550, respectively. We do not exclude further correction of the GBP/USD currency pair and recommend keeping track of up-to-date information regarding the Brexit process. Positions must be opened from key levels.

The Economic News Feed for 24.09.2019:

• - CBI Industrial Trends Orders (UK) – 13:00 (GMT+3:00);

The price fixed below 50 MA and 100 MA, which signals the strength of sellers.

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 crossed the% D line. There are no signals at the moment.

• Support levels: 1.24000, 1.23650, 1.22900
• Resistance levels: 1.24550, 1.25000, 1.25550

If the price consolidates below the round level of 1.24000, expect further correction toward 1.23650-1.23500.

Alternatively, the quotes can grow toward 1.24900-1.25200.

The USD/CAD currency pair

• Prev Open: 1.32593
• Open: 1.32567
• % chg. over the last day: -0.06
• Day's range: 1.32535 - 1.32652
• 52 wk range: 1.2727 - 1.3664

The USD/CAD currency pair continues to trade in a protracted flat. Unidirectional trends are not observed. Investors expect additional drivers. CAD is currently consolidating near the support level 1.32550. 1.32850 acts as the local resistance. The trading instrument can move downwards. We recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.

The Economic News Feed for 24.09.2019 is calm.

Indicators do not provide accurate signals, 50 MA has crossed 100 MA.

The MACD histogram has moved into the negative zone, which indicates the development of a bearish sentiment.

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

• Support levels: 1.32550, 1.32350, 1.32100
• Resistance levels: 1.32850, 1.33100

If the price consolidates below 1.32550, expect further descend toward 1.32300-1.32100.

Alternatively, the quotes can grow toward 1.33000-1.33200.

The USD/JPY currency pair

• Prev Open: 107.713
• Open: 107.540
• % chg. over the last day: -0.12
• Day's range: 107.476 – 107.686
• 52 wk range: 104.97 – 114.56

USD/JPY is in the bearish mood. The USD/JPY quotes have set the new local maximums. Right now the trading instrument is consolidating. The key support and resistance levels are 107.350-107.650. JPY can grow further against the USD. Keep tracking the relevant info regarding the US/China conflict and open positions from the key levels.

The Economic News Feed for 24.09.2019 is calm.

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 USD/JPY.

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

• Support levels: 107.350, 107.000
• Resistance levels: 107.650, 107.850, 108.100

If the price consolidates below 107.350, expect a further drop toward 107.000-106.800.

Alternatively, the quotes can grow toward 107.800-108.000.

by JustMarkets, 2019.09.24

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.