The Analytical Overview of the Main Currency Pairs on 2019.05.20

The EUR/USD currency pair

• Prev Open: 1.11724
• Open: 1.11602
• % chg. over the last day: -0.14
• Day's range: 1.11507 – 1.11676
• 52 wk range: 1.1111 – 1.2009

EUR/USD keeps showing a negative trend. Right now the instrument is consolidating around the monthly minimums. The key support and resistance are at 1.11500 and 1.11700. The demand for the USD remains high. The financial market participants are waiting for additional drivers. The EU parliament elections will happen this week. You should open positions from the key levels.

Today the investors will evaluate the statements by the FOMC representatives.

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 bullish mood.

• Support levels: 1.11500, 1.11200, 1.11000
• Resistance levels: 1.11700, 1.11850, 1.12000

If the price fixed below 1.11500, expect further descend toward 1.11200-1.11000.

Alternatively, the quotes can recover toward 1.11850-1.12000.

The GBP/USD currency pair

• Prev Open: 1.27919
• Open: 1.27303
• % chg. over the last day: -0.60
• Day's range: 1.27242 – 1.27573
• 52 wk range: 1.2438 – 1.3631

GBP/USD remains in a bearish mood. GBP reached the 5-month minimums relative to the USD. Right now the quotes are consolidating around 1.27150-1.27700. The financial market participants are waiting for new info regarding Brexit. A technical correction is possible soon. You should open positions from the key leves.

The Economic News Feed for 20.05.2019 is calm.

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 towards a bullish mood.

• Support levels: 1.27150, 1.26500
• Resistance levels: 1.27700, 1.28250, 1.28800

If the price fixes below 1.27150, expect further descend toward 1.26800-1.26600.

Alternatively, the quotes can recover toward 1.28250-1.28500.

The USD/CAD currency pair

• Prev Open: 1.34598
• Open: 1.34399
• % chg. over the last day: -0.05
• Day's range: 1.34239 – 1.34561
• 52 wk range: 1.2727 – 1.3664

USD/CAD started to descend. The trading instrument updated the local minimums. The CAD is supported by the positive oil quotes. Right now the local key levels are at 1.34200 and 1.34450. The trading instrument has a tendency to descend further. The financial market participants are waiting for important reports from Canada later this week. You should open positions from the key levels.

The Economic News Feed for 20.05.2019 is calm.

The price fixes below 200 MA, which points towards the power of the sellers.

The MACD histogram is in the negative zone and below the signal line which points toward a strong signal to sell USD/CAD.

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

• Support levels: 1.34200, 1.34000, 1.33800
• Resistance levels: 1.34450, 1.34650, 1.34850

If the price fixes below 1.34200, expect further descend toward 1.34000-1.33800.

Alternatively, the quotes can grow toward 1.34700-1.34850.

The USD/JPY currency pair

• Prev Open: 109.834
• Open: 110.103
• % chg. over the last day: +0.20
• Day's range: 110.015 – 110.319
• 52 wk range: 104.97 – 114.56

USD/JPY started to recover after a long fall. The trading instrument have set the new local maximums. The quotes are consolidating around 110.000-110.300. Today, during the asian trading session, Japan has published an optimistic GDP report. However, USD/JPY has prospects for further correction. Keep an eye on the US Treasury Bonds' yield. You should open positions from the key levels.

Keep an eye on the statements by the FOMC representatives.

The price fixed above 50 MA and 200 MA which points towards 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 USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line which provides no signals.

• Support levels: 110.000, 109.750, 109.500
• Resistance levels: 110.300, 110.700

If the price fixes above the resistance level of 130.300 which points towards a further correction toward 110.600-110.800

Alternatively, the quotes can fall toward 109.750-109.500.

by JMarkets, 2019.05.20

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.