The Analytical Overview of the Main Currency Pairs on 2019.07.25

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11515
  • Open: 1.11408
  • % chg. over the last day: -0.09
  • Day's range: 1.11331 – 1.11432
  • 52 wk range: 1.1111 - 1.2009

The EUR/USD currency pair has stabilized after a rather long decline. At the moment, investors have are waiting for the ECB meeting. Participants in financial markets have weakened forecasts for lowering interest rates by the Central Bank at the current meeting. At the same time, most experts believe that the regulator may pave the way for softening the monetary policy in the near future, as the growth of the eurozone economy slows down. We recommend to pay attention to the comments and rhetoric of the ECB. Additional pressure on the euro is driven by the weak reports on business activity for July in Germany and the EU. At the moment, the quotes are consolidating in the range of 1.11300-1.11500. Positions must be opened from these marks.

The Economic News Feed for 25.07.2019:

  • - IFO Business Climate Index (GER) – 11:00 (GMT+3:00);
  • - ECB Interest Rate Announcement (EU) – 14:45 (GMT+3:00);
  • - Durable Goods Sales Report (US) – 15:30 (GMT+3:00);
EUR/USD

Indicators signal the strength of the 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 EUR/USD.

The Stochastic Oscillator is located near the oversold zone, the %K line has started to cross the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.11300, 1.11000
  • Resistance levels: 1.11500, 1.11850, 1.12100

If the price fixes below 1.11300, expect a further decline toward 1.11000-1.10800.

Alternatively, the quotes can correct toward 1.12000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.24370
  • Open: 1.24828
  • % chg. over the last day: +0.38
  • Day's range: 1.24709 - 1.24870
  • 52 wk range: 1.2397 - 1.3385

Yesterday, bullish sentiment prevailed on the GBP/USD currency pair. The quotes grew by 80 points. This movement is largely due to technical factors. The GBP remains under pressure. Participants in financial markets are wary of the “hard” Brexit scenario, in which Britain will leave the European Union without a trade agreement. At the moment, the trading instrument is consolidating in the range of 1.24550-1.24900. We recommend to open positions from key levels.

Today, the publication of important economic releases from the UK is not planned.

GBP/USD

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

The MACD histogram is close to the 0 mark.

Stochastic Oscillator is in the oversold zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.24550, 1.24200, 1.23850
  • Resistance levels: 1.24900, 1.25200, 1.25550

If the price consolidates above 1.24900, expect further growth toward 1.25200-1.25400.

Alternatively, the quotes can descend toward 1.24300-1.24100.

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The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31307
  • Open: 1.31395
  • % chg. over the last day: +0.07
  • Day's range: 1.31290 - 1.31446
  • 52 wk range: 1.2727 - 1.3664

The USD/CAD is in a sideways movement. There is no defined trend. CAD is testing local support and resistance levels: 1.31200 and 1.31500, respectively. USD/CAD quotes have the potential for further recovery. Today, investors will evaluate important statistics from the United States. We also recommend to pay attention to the dynamics of oil prices. Positions must be opened from key levels.

The Economic News Feed for 25.07.2019 is calm.

USD/CAD

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

The MACD histogram is located near 0.

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

Trading recommendations
  • Support levels: 1.31200, 1.30950, 1.30650
  • Resistance levels: 1.31500, 1.31650, 1.32000

If the price consolidates above the 1.31500, expect further growth 1.31800-1.32000.

Alternatively, the quotes can drop toward 1.30900-1.30750.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.217
  • Open: 108.177
  • % chg. over the last day: -0.03
  • Day's range: 108.076 – 108.240
  • 52 wk range: 104.97 – 114.56

An ambiguous technical picture emerged on the USD/JPY currency pair. Trading instrument is in lateral movement. Local levels of support and resistance are 108.000 and 108.300. Financial market participants expect important economic reports from the United States. We recommend to keep track of current information regarding trade negotiations between the United States and China. Positions must be opened from key levels.

The Economic News Feed for 25.07.2019 is calm.

USD/JPY

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

The MACD histogram is located near the 0 mark.

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

Trading recommendations
  • Support levels: 108.000, 107.800, 107.600
  • Resistance levels: 108.300, 108.600

If the price consolidates above the 108.300 mark, expect further growth toward 108.600-108.800.

Alternatively, the quotes can descend toward 107.800-107.600.

by JustForex, 2019.07.25

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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