The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.13191
Open: 1.12742
% chg. over the last day: -0.40
Day’s range: 1.12723 – 1.12877
52 wk range: 1.1214 – 1.2557

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EUR keeps showing a strong descending trend. Yesterday the quotes fell by more than 50 points. The trading instrument set the new yearly minimums and is now consolidating around 1.12700-1.13000. The currency pair has prospects for further descend. The financial market participants should keep an eye on the US/China negotiations and open positions from the key levels.

At 17:00 (GMT+2:00) the US will publish the JOLTS report. Also, check out the statements by the head of the Federal Reserve.

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

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 above the %D line which points to the correction of EUR/USD.

Trading recommendations

Support levels: 1.12700, 1.12300, 1.12000
Resistance levels: 1.13000, 1.13300, 1.13600

If the price fixes below 1.12700, expect the quotes to fall further toward 1.12300-1.12000.

Alternatively, EUR/USD can correct toward 1.13300-1.13500.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.29289
Open: 1.28535
% chg. over the last day: -0.56
Day’s range: 1.28493 – 1.28848
52 wk range: 1.2438 – 1.4378

Yesterday GBP/USD saw some aggressive sell-offs due to the weak GDP report. In the fourth quarter of 2018 the economic growth of the country fell from 0.6% (quarter-to-quarter) to 0.2%. The quotes fell by 75 points and updated the monthly minimums. An additional pressure is caused by the Brexit conundrum. Right now the quotes are consolidating around 1.28500-1.28900. You should open positions from these levels.

The Economic News Feed for 12.02.2019 is calm. You should keep an eye on the statements by the Head of the Bank of England.

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

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 points to a bullish mood.

Trading recommendations

Support levels: 1.28500, 1.28000
Resistance levels: 1.28900, 1.29350, 1.29750

If the price fixes below 1.28500, expect the quotes to fall toward 1.28200-1.28000.

Alternatively, the quotes can recover toward 1.29300-1.29500.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.32630
Open: 1.32941
% chg. over the last day: +0.13
Day’s range: 1.32768 – 1.33145
52 wk range: 1.2248 – 1.3664

USD/CAD has an ambiguous technical picture. The quotes are in a flat with the key range being 1.32650-1.32950. The trading instruments has prospects for further correction after a long rally. Keep an eye on the oil quotes dynamics and open positions from these levels.

The Economic News Feed for 12.02.2019 is calm.

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

The MACD histogram is close to 0.

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

Trading recommendations

Support levels: 1.32650, 1.32300, 1.32000
Resistance levels: 1.32950, 1.33250

If the price fixes below 1.32650, expect the quotes to correct toward 1.32300-1.32000

Alternatively, the quotes can grow toward 1.33250-1.33500.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 109.736
Open: 110.333
% chg. over the last day: +0.53
Day’s range: 110.333 – 110.651
52 wk range: 104.56 – 114.56

USD/JPY started to grow. During the last two days, the yen got weakened against the USD by more than 85 points. The trading instrument updated the key maximums. Right now the quotes are testing the resistance of 110.650 with 110.350 being the local support. The currency pair has prospects for further growth. Open the postions from the key levels.

During the Asian trading session, Japan published weak reports regarding the business activity in the service industry.

The price fixed above 50 MA and 200 MA which points to the power of the buyers.

The MACD histogram is in the positive zone and keeps rising which points to the further growth of USD/JPY.

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

Trading recommendations

Support levels: 110.350, 110.000, 109.600
Resistance levels: 110.650, 111.000

If the price fixes above 110.650, expect the quotes to grow toward 111.000.

Alternatively, the quotes can correct toward 110.000-109.800.

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