The Analytical Overview of the Main Currency Pairs on 2019.08.09

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11984
  • Open: 1.11795
  • % chg. over the last day: -0.12
  • Day's range: 1.11782 - 1.11981
  • 52 wk range: 1.1034 - 1.1817

The EUR/USD currency pair continues to consolidate. There is no defined trend. Investors are still expecting additional drivers. At the moment, the local support and resistance levels are 1.11800 and 1.12150. The single currency has the potential for further recovery. Today we expect important economic reports from the USA. We recommend opening from key levels.

At 15:30 (GMT+3:00), the manufacturer's price index in the United States will be published.

EUR/USD

The indicators do not give accurate signals, the price crossed 50 MA and 100 MA.

The MACD histogram is close to 0.

The Stochastic Oscillator has started to leave the overbought zone, the %K line is below the %D line, which indicates a bearish sentiment.

Trading recommendations
  • Support levels: 1.11800, 1.11600, 1.11150
  • Resistance levels: 1.12150, 1.12450, 1.12800

If the price consolidates above 1.12150, expect further growth toward 1.12450-1.12600.

Alternatively, the quotes could decrease toward 1.11500-1.11400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.21678
  • Open: 1.21400
  • % chg. over the last day: -0.23
  • Day's range: 1.21369 - 1.21749
  • 52 wk range: 1.2080 - 1.3385

The GBP/USD currency pair continues to trade in a protracted flat. There is no defined trend. GBP tests the local support and resistance levels: 1.21300 and 1.21850. Market participants are waiting for new information on the Brexit issue. In the near future, technical correction of the trading instrument is highly possible. You should open positions from the key levels.

The Economic News Feed for 09.08.2019 is not planned.

  • - Economic Event (GB) – 00:00 (GMT+3:00);
  • - Economic Event (GB) – 00:00 (GMT+3:00);
  • - Economic Event (GB) – 00:00 (GMT+3:00);
GBP/USD

The indicators do not give accurate signals, the price crossed 50 MA and 100 MA.

The MACD histogram is close to 0.

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

Trading recommendations
  • Support levels: 1.21300, 1.20850, 1.20500
  • Resistance levels: 1.21850, 1.22500, 1.23000

If the price consolidates above 1.21850, expect further recovery toward 1.22300-1.22500.

Alternatively, the price could reduce toward 1.20900-1.20700.

Registration

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32756
  • Open: 1.33038
  • % chg. over the last day: +0.26
  • Day's range: 1.32720 - 1.33140
  • 52 wk range: 1.2727 - 1.3664

The USD/CAD currency pair stabilized after a rather protracted rally. CAD is currently consolidating. The local support and resistance levels are 1.32650 and 1.33100. Support for the Canadian dollar is enforced by a positive report on business activity from Ivey. We recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.

The Economic News Feed for 09.08.2019 is calm.

USD/CAD

Indicators do not give accurate signals: the price is consolidating near 50 MA.

The MACD histogram is located close to 0.

Stochastic Oscillator is near the oversold zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.32650, 1.32400, 1.32000
  • Resistance levels: 1.33100, 1.33400

If the price consolidates above 1.33100, expect further growth 1.33400-1.33600.

Alternatively, the price could drop toward 1.32400-1.32100.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.460
  • Open: 106.260
  • % chg. over the last day: -0.35
  • Day's range: 106.005 - 106.299
  • 52 wk range: 104.97 - 114.56

The USD/JPY currency pair is still in sideways movement. Unidirectional trends are not observed. At the moment, the trading instrument is consolidating near the round level of 106,000. The 106.550 mark is a key resistance. USD/JPY quotes have the potential for correction after a significant collapse since the beginning of the current month. We recommend that you pay attention to the dynamics of yield on the US Treasury bonds. Positions must be opened from key levels.

The Economic News Feed for 09.08.2019 is calm.

USD/JPY

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

The MACD histogram is close to 0.

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

Trading recommendations
  • Support levels: 106.000, 105.550
  • Resistance levels: 106.550, 107.100, 107.500

If the price consolidates above 106.550, expect a correction toward 107.000.

Alternatively, the price could decrease toward 105.600-105.400.

by JustForex, 2019.08.09

We recommend you to get acquainted with the daily overview of the news feed.

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.

Registration

Get Free Analytics

* required fields