The Analytical Overview of the Main Currency Pairs on 2019.05.10

The EUR/USD currency pair

• Prev Open: 1.11912
• Open: 1.12128
• % chg. over the last day: +0.25
• Day's range: 1.12123 – 1.12348
• 52 wk range: 1.1111 – 1.2009

EUR/USD started to grow and updated the local maximums. Yesterday, the US published weak economic reports, including the manufacturer's price index and the primary jobless claims. Right now the quotes are consolidating around 1.12100-1.12350. The financial market participants are waiting for the final decision regarding the US/China trading conflict. Keep an eye on this issue and open positions from the key levels.

At 15:30 (GMT+3:00) the US will publish an inflation report. Also keep an eye on the statement made by the FOMC representatives.

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 but below the signal line which gives a weak signal to buy EUR/USD.

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

• Support levels: 1.12100, 1.11850, 1.11650
• Resistance levels: 1.12350, 1.12600

If the price fixed above 1.12350, expect further growth toward 1.12600-1.12800.

Alternatively, the quotes can descend toward 1.11850-1.11700.

The GBP/USD currency pair

• Prev Open: 1.30059
• Open: 1.30126
• % chg. over the last day: +0.03
• Day's range: 1.29968 – 1.30204
• 52 wk range: 1.2438 – 1.3631

GBP/USD has an ambiguous technical picture. GBP is moving sideways. The key support and resistance levels are 1.29800 and 1.30400. The investors are waiting for the UK GDP report for the first quarter of 2019. The experts are expecting for the increase in the economic growth soon. Keep an eye on the Brexit situation and open positions from the key levels.

The Economic News Feed for 10.05.2019:

• - GDP Report (UK) – 11:30 (GMT+3:00);
• - Industrial Production Volume (GB) – 11:30 (GMT+3:00);

The indicators do not provide precise signalf, 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 below the %D line which points to the bearish mood.

• Support levels: 1.29800, 1.29400, 1.29100
• Resistance levels: 1.30400, 1.30800, 1.31300

If the price fixes below 1.29800, expect further descend toward 1.29400-1.29100.

Alternatively, the quotes can recover toward 1.30800-1.31000.

Open Account The USD/CAD currency pair

• Prev Open: 1.34759
• Open: 1.34646
• % chg. over the last day: -0.10
• Day's range: 1.34355 – 1.34841
• 52 wk range: 1.2727 – 1.3664

USD/CAD remains ambiguous. The CAD keeps trading in a flat. The local support and resistance levels are 1.34350 and 1.34750. Today Canada will publish important statistic reports which may influence the balance of powers on USD/CAD. Keep an eye on the oil quotes dynamics and open positions from the key levels.

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

The indicators do not provide precise signals, the price has crossed 50 MA and 200MA.

The MACD histogram is in the negative zone and above the signal line which gives a weak signal to sell USD/CAD.

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

• Support levels: 1.34350, 1.34100, 1.33800
• Resistance levels: 1.34750, 1.35000, 1.35200

If the price fixes above 1.34750, consider buying USD/CAD. The price will ascend toward 1.35000-1.35300.

Alternatively, the price will descend toward 1.34000.

The USD/JPY currency pair

• Prev Open: 110.074
• Open: 109.742
• % chg. over the last day: -0.24
• Day's range: 109.623 – 110.050
• 52 wk range: 104.97 – 114.56

USD/JPY stabilized after a long fall since the beginning of the month. The key support and resistance are at 109.500 and 110.000. The demand for safe assets remains high due to the ambiguousness in the US/China trading relationships. The investors are waiting for more news on that subject. Keep an eye on the US Treasury bonds' yield and open positions from the key levels.

The Economic News Feed for 10.05.2019 is calm.

The indicators do not provide precise signals, the price is consolidating close to 50 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 started to leave the oversold zone, the %K line is above the %D line which points toward a corrective movement..

• Support levels: 109.500, 109.000
• Resistance levels: 110.000, 110.300, 110.650

If the price fixes below 109.500, the quotes are expected to fall toward 109.300-109.000.

Alternatively, the quotes can recover toward 110.300-110.500.

by JMarkets, 2019.05.10

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.