The Analytical Overview of the Main Currency Pairs on 2019.01.29

The EUR/USD currency pair

• Prev Open: 1.14006
• Open: 1.14253
• % chg. over the last day: +0.15
• Day's range: 1.14204 – 1.14449
• 52 wk range: 1.1214 – 1.2557

EUR kept rising against the USD. Right now the local support and resistance levels are 1.14200 and 1.14450. Mario Draghi, the head of the Central Bank of Europe, is worried about the growing risks on the global markets. The regulator intends to keep the monetary policy the same. The investors are waiting for the Federal Reserve meeting. Keep an eye on the US/China trading conflict and open positions from the key levels.

At 17:00 (GMT +2:00) US will publish the Customer Trust Index.

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

The MACD histogram is in the positve zone and keeps rising which gives a signal to buy EUR/USD.

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

• Support levels: 1.14200, 1.13900, 1.13700
• Resistance levels: 1.14450, 1.15000

If the price fixes above 1.14450, expect the price to grow toward 1.14800-1.15000.

Alternatively the price can fall toward 1.14000-1.13800.

The GBP/USD currency pair

• Prev Open: 1.31838
• Open: 1.31520
• % chg. over the last day: -0.36
• Day's range: 1.31294 – 1.31683
• 52 wk range: 1.2438 – 1.4378

The pound has stabilized around the key range of 1.31300 and 1.32000. The financial market participants are waiting for the Brexit vote in the parliament. Today you should minimize risks when opening GBP/USD orders.

Keep an eye on the US economic reports.

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

• Support levels: 1.31300, 1.30600, 1.30000
• Resistance levels: 1.32000, 1.32500

If the price fixes above 1.32000 expect it to grow further toward 1.32500-1.32750.

Alternatively, the quotes can fall toward 1.30700-1.30400.

The USD/CAD currency pair

• Prev Open: 1.32183
• Open: 1.32592
• % chg. over the last day: +0.30
• Day's range: 1.32448 – 1.32784
• 52 wk range: 1.2248 – 1.3664

Yesterday USD recovered against the CAD. Right now the quotes are moving sideways. The trading instrument created the local support and resistance levels at 1.32500 and 1.32800. USD/CAD has a tendency to descend. You should open positions from the key levels. Keep an eye on the US newsfeed.

The Economic News Feed for 29.01.2019 is calm.

The indicators do not provide precise signals, the price fixed betwee 50 MA and 200 MA

The MACD histogram is close to 0.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which gives a sinal to buy USD/CAD..

• Support levels: 1.32500, 1.32250
• Resistance levels: 1.32800, 1.33150

If the price fixes below the local support 1.32500 expect the quotes to fall further toward 1.32250-1.32000..

Alternatively the quotes can recover toward 1.33000-1.33200.

The USD/JPY currency pair

• Prev Open: 109.541
• Open: 109.317
• % chg. over the last day: -0.14
• Day's range: 109.130 – 109.392
• 52 wk range: 104.56 – 114.56

USD/JPY technical picture remains ambiguous. The yen remains in a flat. The key range is 109.150-109.400, with prospects to descend. Keep an eye on the US Treasury bonds yield and open positions from the key levels.

The Economic News Feed for 29.01.2019 is calm.

The indicators do not provide precise signals, the price has crossed 50 MA and 200 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 is crossing the %D line. There are no signals at the moment..

• Support levels: 109.150, 108.900, 108.700
• Resistance levels: 109.400, 109.600, 109.850

If the price fixes below 109.150, expect the quotes to fall toward 108.900-108.700.

Alternatively the quotes can grow toward 109.600-109.800.

by JMarkets, 2019.01.29

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.