The Analytical Overview of the Main Currency Pairs on 2019.08.30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10775
  • Open: 1.10566
  • % chg. over the last day: -0.17
  • Day's range: 1.10422 - 1.10604
  • 52 wk range: 1.1034 - 1.1817

USD once again strengthened against a basket of world currencies. EUR/USD quotes updated the key lows. Participants in the financial markets continue to monitor the situation in the international trade. The Chinese Ministry of Commerce confirmed that the parties are discussing and scheduling meetings of trade delegations scheduled for September. The trading instrument is currently consolidating. The local support and resistance levels are: 1.10400 and 1.10700, respectively. The EUR/USD currency pair can decline further. We recommend opening positions from the key levels.

The Economic News Feed for 30.08.2019:

  • - The consumer price index (EU) – 12:00 (GMT+3:00);
  • - Unemployment rate (EU) – 12:00 (GMT+3:00);
  • - Individual Spending Report (US) – 15:30 (GMT+3:00);
EUR/USD

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 and continues to decline, which signals a bearish sentiment.

Stochastic Oscillator has started to leave the oversold zone, the %K line is above the %D line, which gives a signal to buy EUR/USD.

Trading recommendations
  • Support levels: 1.10400, 1.10000
  • Resistance levels: 1.10700, 1.10900, 1.11150

If the price consolidates below 1.10400, expect a further descend to 1.10000.

Alternatively, the quotes could recover toward 1.10850-1.11100.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22049
  • Open: 1.21803
  • % chg. over the last day: -0.23
  • Day's range: 1.21747 - 1.21918
  • 52 wk range: 1.2015 - 1.3385

The GBP/USD currency pair stabilized after a sharp decline since the beginning of this week. GBP is currently consolidating without a single common trend. The key support and resistance levels are 1.21600 and 1.22000, respectively. Investors expect up-to-date information regarding the Brexit process. Today we recommend paying attention to statistics from the United States. Positions must be opened from the key levels.

The Economic News Feed for 30.08.2019 is calm.

GBP/USD

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 is above the %D line, which indicates bullish sentiment.

Trading recommendations
  • Support levels: 1.21600, 1.21100, 1.20700
  • Resistance levels: 1.22000, 1.22500, 1.23000

If the price consolidates above 1.22000, expect the quotes to rise toward 1.22400-1.22600.

Alternatively, the quotes can decrease toward 1.21300-1.21100.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33063
  • Open: 1.32897
  • % chg. over the last day: -0.18
  • Day's range: 1.32774 – 1.33111
  • 52 wk range: 1.2727 – 1.3664

CAD is in lateral movement. There is no defined trend. At the moment, USD/CAD quotes are testing the key support and resistance levels at 1.32800 and 1.33150, respectively. Investors took a wait and see attitude before the release of important statistics on the Canadian economy. We also recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.

At 15:30 (GMT+3:00), Canada will publish a GDP report.

USD/CAD

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 overbought zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.32800, 1.32550, 1.32300
  • Resistance levels: 1.33150, 1.33400

If the price consolidates above 1.33150, expect an increase toward 1.33400-1.33600.

Alternatively, the quotes could drop toward 1.32600-1.32450.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.103
  • Open: 106.517
  • % chg. over the last day: +0.31
  • Day's range: 106.286 - 106.543
  • 52 wk range: 104.97 - 114.56

On the USD/JPY currency pair, bullish sentiment prevails. The trading tool has reached key extremes. Demand for “safe” assets has weakened amid optimism in international trade. At the moment, USD/JPY quotes are consolidating in the range 106.200-106.700. We do not exclude further growth of the trading instrument. We recommend that you pay attention to the dynamics of yield on US government bonds. Positions must be opened from key levels.

A number of controversial economic releases from Japan were published in the Asian trading session.

USD/JPY

Indicators indicate the strength of buyers: the price has fixed above 50 MA and 100 MA.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.

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: 106.200, 105.850, 105.500
  • Resistance levels: 106.700, 107.000

If the price consolidates above 106.700, expect further growth toward 107,000.

Alternatively, the quotes could drop toward 105.850-105.600.

by JustForex, 2019.08.30

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.

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