The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.13595
Open: 1.13004
% chg. over the last day: -0.48
Day’s range: 1.12965 – 1.13183
52 wk range: 1.1214 – 1.2557

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Last week USD once again strengthened against the major currencies. The USD index (#DX) updated the annual maximums. On Friday, December 14, EUR/USD saw an aggressive sell-off. The quotes fell by more than 80 points. The USD was supported by the positive retail sales report in the US. The key event this week will be the Federal Reserve meeting. The financial market participants expect the regulator to increase the key interest range by 25 basis points to 2.25%-2.50%. You should open positions from the key levels.

At 12:00 (GMT+2:00) the EU will publish the Customer Price Index.

The price fixed below 50 MA and 200 MA which shows the power of the sellers.

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

Trading recommendations

Support levels: 1.13000, 1.12700
Resistance levels: 1.13200, 1.13450, 1.13650

If the price fixes below 1.13000, the quotes are expected to fall further. The movement will tend toward 1.12700-1.12500.

Alternatively, the currency pair can recover toward 1.13450-1.13600.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.26325
Open: 1.25996
% chg. over the last day: -0.58
Day’s range: 1.25166 – 1.25996
52 wk range: 1.2477 – 1.4378

GBP/USD is showing a variety of trends. The technical picture is ambiguous. The GBP/USD quotes are consolidating. The key support and resistance levels are 1.25700 and 1.26150. Investors wait for the relevant data regarding the Brexit process. Last week Theresa May failed to negotiate better conditions regarding the UK leaving the EU. You should look for market entry points at the key levels.

The Economic News Feed for 17.12.2018 is calm.

The price fixed below 50 MA and 200 MA which indicates the power of the buyers.

MACD histogram is in the negative zone but above the signal line which provides a weak signal towards selling the GBP/USD.

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

Trading recommendations

Support levels: 1.25700, 1.25300, 1.24850
Resistance levels: 1.26150, 1.26800

If the price fixes below the local support 1.25700, expect further fall of the GBP/USD quotes. The movement will tend toward 1.25300-1.25000.

Alternatively the quotes can grow toward 1.26500.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.33452
Open: 1.33811
% chg. over the last day: +0.24
Day’s range: 1.33733 – 1.33882
52 wk range: 1.2248 – 1.3445

USD/CAD keeps being traded in a long flat. There is no singular trend. The key support and resistance levels are 1.33600 and 1.34000. Investors are waiting for additional drivers. Keep an eye on the oil quotes dynamics. Positions should be opened from the key levels.

The Economic News Feed for 17.12.2018 is calm.

There are no precise signals: 50 MA has crossed 200 MA.

MACD histogram is close to 0.

The Stochastic Oscillator is in the neutral zone, the %K line crosses the %D line. There are no precise signals.

Trading recommendations

Support levels: 1.33600, 1.33250, 1.32900
Resistance levels: 1.34000, 1.34450

If the price closes above 1.34000, expect the USD/CAD quotes to grow toward 1.34300-1.34500.

Alternatively, the price fixed below 1.33600 and you should look for the market entry points to open short positions. The movement will tend toward 1.33250-1.33000.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 113.535
Open: 113.336
% chg. over the last day: -0.22
Day’s range: 113.301 – 113.520
52 wk range: 104.56 – 114.56

The safe haven currency stabilized. The USD/JPY quotes are consolidating. The local support and resistance levels are 113.350 and 113.500. A technical correction is highly probable soon. The financial market participants are waiting for the Bank of Japan meeting on December, 20. You should open positions from the key levels.

The Economic News Feed for 17.12.2018 is calm.

Indicators do not provide precise signals, the price fixed between 50 MA and 200 MA.

The MACD histogram is around 0.

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

Trading recommendations

Support levels: 113.350, 113.150, 112.900
Resistance levels: 113.500, 113.700

If the price fixes below the local support 113.500, expect further growth towards 113.700-114.000.

Alternatively the quotes can correcttoward 113.000-112.800.

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