The Analytical Overview of the Main Currency Pairs on 2019.12.24

The EUR/USD currency pair

• Prev Open: 1.10785
• Open: 1.10885
• % chg. over the last day: +0.11
• Day's range: 1.10853 - 1.10940
• 52 wk range: 1.0879 - 1.1572

USD is stable against the basket of world currencies. Trading activity and volatility decreased on the eve of the Christmas holidays. Yesterday, the United States published mixed economic releases. Currently, EUR/USD quotes are consolidating. The local support and resistance levels are 1.10750 and 1.10950, respectively. The trading instrument has a downside potential. We recommend opening positions from key levels.

The Economic News Feed for 24.12.2019 is calm.

Indicators do not give accurate signals: the price crossed 50 MA.

The MACD histogram is close to the 0. There are no signals at the moment.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which points to a bullish movement.

• Support levels: 1.10750, 1.10650, 1.10300
• Resistance levels: 1.10950, 1.11100, 1.11300

If the price consolidates below 1.10750, expect a further descend toward 1.11200-1.11400.

Alternatively, the quotes could grow toward 1.11200-1.11400.

The GBP/USD currency pair

• Prev Open: 1.30007
• Open: 1.29331
• % chg. over the last day: -0.48
• Day's range: 1.29318 - 1.29469
• 52 wk range: 1.1959 - 1.3516

The GBP/USD currency pair again went down. The trading tool has updated local lows. Financial market participants are concerned that the UK may leave the EU on a hard Brexit. Currently, GBP / USD quotes are consolidating in the range of 1.29000-1.29800. We do not exclude a further drop in the pound against the US dollar. Open positions from key levels.

The Economic News Feed for 24.12.2019 is calm.

Indicators signal the power of sellers: the price has fixed below 50 MA and 100 MA.

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 crossed the %D line. There are no signals at the moment.

• Support levels: 1.29000, 1.28500
• Resistance levels: 1.29800, 1.30650, 1.31350

If the price consolidates below the round level of 1.29000, expect a further descend toward 1.28600-1.28400.

Alternatively, the quotes could grow toward 1.30500-1.30700.

The USD/CAD currency pair

• Prev Open: 1.31463
• Open: 1.31453
• % chg. over the last day: -0.01
• Day's range: 1.31380 - 1.31582
• 52 wk range: 1.3014 - 1.3664

An ambiguous technical picture has developed on the USD/CAD currency pair. Looney is in lateral movement. Unidirectional trends are not observed. Canada published weak data on the country's GDP yesterday. At the moment, the following key support and resistance levels can be identified: 1.31400 and 1.31750, respectively. We recommend that you pay attention to the dynamics of prices of black gold. Open positions from key levels.

The Economic News Feed for 24.12.2019 is calm.

The signals of the indicators are mixed: the price is testing 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 indicates a bearish sentiment.

• Support levels: 1.31400, 1.31200, 1.31050
• Resistance levels: 1.31750, 1.32000

If the price consolidates below 1.31400, expect the quotes to fall toward 1.31000.

Alternatively, the quotes could grow toward 1.32000-1.32200.

The USD/JPY currency pair

• Prev Open: 109.402
• Open: 109.389
• % chg. over the last day: -0.02
• Day's range: 109.356 - 109.441
• 52 wk range: 104.45 - 113.53

The USD/JPY currency pair continues to consolidate. The technical picture is ambiguous. Local levels of support and resistance are still: 109.300 and 109.500, respectively. Investors expect additional drivers. USD / JPY quotes have the potential to decline. We recommend that you pay attention to the dynamics of the yield of US government securities. Positions must be opened from key levels.

Today, the news background on the Japanese economy is quite calm.

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

The MACD histogram is close to 0. There are no signals at the moment.

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

• Support levels: 109.300, 109.200, 109.000
• Resistance levels: 109.500, 109.700, 110.000

If the price consolidates below 109.300, expect the quotes to fall toward 109.000-108.800.

Alternatively, the quotes could grow toward 109.700-110.000.

by JMarkets, 2019.12.24

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.