The Analytical Overview of the Main Currency Pairs on 2019.11.20

The EUR/USD currency pair

• Prev Open: 1.10713
• Open: 1.10774
• % chg. over the last day: +0.05
• Day's range: 1.10686 - 1.10796
• 52 wk range: 1.0884 - 1.1623

USD stabilized against its main competitors before the publication of the FOMC Minutes. Currently, EUR/USD quotes are consolidating. The local support and resistance levels are 1.10650 and 1.10850, respectively. The head of the Federal Reserve Bank of New York, John Williams, expects the US economy to continue its growth. Further adjustments to monetary policy will depend on future economic releases. Investors also expect new information regarding the settlement of the trade conflict between Washington and Beijing. We recommend opening positions from key levels.

At 21:00 (GMT+2:00) the US will publish the FOMC Minutes.

Indicators do not provide accurate signals the price 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 indicates a bearish sentiment.

• Support levels: 1.10650, 1.10400, 1.10150
• Resistance levels: 1.10850, 1.11000, 1.11250

If the price consolidates above 1.10850, expect growth toward 1.11200-1.11400.

Alternatively, the quotes could drop toward 1.10400-1.10200.

The GBP/USD currency pair

• Prev Open: 1.29517
• Open: 1.29241
• % chg. over the last day: -0.20
• Day's range: 1.29002 - 1.29305
• 52 wk range: 1.1959 - 1.3385

GBP/USD quotes retreated from local highs. Investors began to partially fix sterling positions after a long rally. At the moment, the trading instrument is consolidating in the range of 1.29000-1.29300. Market participants expect up-to-date information regarding the Brexit process. Today we recommend you to pay attention to the FOMC Minutes. Open positions from key levels.

The Economic News Feed for 20.11.2019 is calm.

Indicators do not provide accurate signals, the price crossed 100 MA.

The MACD histogram is in the negative zone and below the signal line, which gives a strong signal to sell GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates bullish sentiment.

• Support levels: 1.29000, 1.28650, 1.28350
• Resistance levels: 1.29300, 1.29700, 1.29850

If the price consolidates above 1.29300, expect the quotes to rise toward 1.29600-1.30000.

Alternatively, the quotes could descend toward 1.28700-1.28500.

The USD/CAD currency pair

• Prev Open: 1.32055
• Open: 1.32663
• % chg. over the last day: +0.49
• Day's range: 1.32616 - 1.32877
• 52 wk range: 1.2727 - 1.3664

The USD/CAD currency pair is showing aggressive purchases. During yesterday's and today's trading, the growth of quotations exceeded 80 points. The trading tool has updated key highs. Pressure on the Canadian dollar is exerted by the negative dynamics of oil prices. CAD is currently testing a resistance level of 1.32900. 1.32650 is already a mirror support. Investors expect important economic releases from the US and Canada. Open positions from key levels.

At 15:30 (GMT+2:00) Canada will publish an inflation report.

The price has fixed above 100 MA, which signals the power of buyers.

The MACD histogram is in the positive zone and above the signal line, which gives a strong signal to buy USD/CAD.

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

• Support levels: 1.32650, 1.32500, 1.32350
• Resistance levels: 1.32900, 1.33300

If the price consolidates above 1.32900, expect further growth toward 1.33200-1.33400.

Alternatively, the quotes could descend toward 1.32450-1.32300.

The USD/JPY currency pair

• Prev Open: 108.677
• Open: 108.539
• % chg. over the last day: -0.18
• Day's range: 108.358 - 108.584
• 52 wk range: 104.97 - 114.56

The USD/JPY currency pair continues to consolidate. There is no defined trend. At the moment, the local support and resistance levels are 108.400 and 108.650, respectively. Demand for safe haven currencies remains at a fairly high level. Today, financial market participants will evaluate the FOMC Minutes. We also recommend paying attention to the dynamics of yield on US government bonds. Open positions from key levels.

The Economic News Feed for 20.11.2019:

Indicators do not provide accurate signals: 50 MA crossed 100 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 crossed the %D line. There are no signals at the moment.

• Support levels: 108.400, 108.250, 108.000
• Resistance levels: 108.650, 108.900, 109.050

If the price consolidates below 108.400, expect the quotes to fall toward 108.000.

Alternatively, the quotes could grow toward 108.800-109.000.

by JustMarkets, 2019.11.20

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.