The Analytical Overview of the Main Currency Pairs on 2019.02.01

The EUR/USD currency pair

• Prev Open: 1.14782
• Open: 1.14461
• % chg. over the last day: -0.29
• Day's range: 1.14344 – 1.14510
• 52 wk range: 1.1214 – 1.2557

USD partically recovered from the Wednesday`s collapse but remains under pressure. Yesterday Federal Reserve decided not to increase the interest rates this year. The quotes are consolidating in the narrow range 1.14350-1.14500. The investors are waiting for the January labour market report in the US and expect worsened indicators. Keep an eye on the difference between the factual and the forecasted values of the indicators. You should open positions from the key levels.

The Economic News Feed for 01.02.2019:

• - Industrial PMI Report (GER) – 10:55 (GMT+2:00);
• - Preliminary Inflation Report (EU) – 12:00 (GMT+2:00);
• - Labour Market Report (US) – 15:30 (GMT+2:00);
• - ISM`s Industrial PMI Report (US) – 17:00 (GMT+2:00).

The indicators don't provide precise signals, the price fixed between 50 MA and 200 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 in the neutral zone, the %K line is above the %D line which points to the growth of the EUR/USD quotes.

• Support levels: 1.14350, 1.14100, 1.13900
• Resistance levels: 1.14500, 1.14750, 1.15100

If the price fixes below 1.14350 expect the quotes to fall further toward 1.14000-1.13600.

Alternatively, expect them to rise toward 1.15000.

The GBP/USD currency pair

• Prev Open: 1.31067
• Open: 1.31010
• % chg. over the last day: -0.05
• Day's range: 1.30770 – 1.31148
• 52 wk range: 1.2438 – 1.4378

The pound remains in the long flat, the technical picture is ambiguous. The local support and resistance levels are 1.30900 and 1.31350. The Brexit conundrum is still in the spotlight. The financial market participants are going to review the US labour market report today, which is bound to affect GBP/USD. You should open positions from the key levels.

At 11:30 (GMT+2) the Great Britain will publish the PMI indexes.

• - Economic Event (GB) – 00:00 (GMT+2:00);
• - Economic Event (GB) – 00:00 (GMT+2:00);
• - Economic Event (GB) – 00:00 (GMT+2:00);

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

The MACD histogram is close to 0.

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: 1.30900, 1.30550, 1.30000
• Resistance levels: 1.31350, 1.31800, 1.32150

If the price fixes below 1.30900 consider selling GBP/USD. The movement will tend toward 1.30300-1.30000.

Alternatively the quotes can recover toward 1.31750-1.32000.

The USD/CAD currency pair

• Prev Open: 1.31473
• Open: 1.31213
• % chg. over the last day: -0.19
• Day's range: 1.31204 – 1.31573
• 52 wk range: 1.2248 – 1.3664

Right now the CAD is consolidating after a long fall. The USD/CAD quotes are testing the 1.31200-1.31550 key range and can descend further. The US Labour Market report is in the spotlight. Keep an eye on the oil quotes dynamics and open positions from the key levels.

The Economic News Feed for 01.02.2019 is calm.

The indicators do not provide precise signals, the price is close the 50 MA which acts as a strong dynamic resistance.

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 further descend of the USD/CAD quotes.

• Support levels: 1.31200, 1.30750
• Resistance levels: 1.31550, 1.31900, 1.32100

If the price fixes below 1.31200, expect the quotes to fall further toward 1.30700-1.30500.

Alternatively. the quotes can correct toward 1.13800-1.32000.

The USD/JPY currency pair

• Prev Open: 109.035
• Open: 108.859
• % chg. over the last day: -0.17
• Day's range: 108.725 – 108.969
• 52 wk range: 104.56 – 114.56

USD/JPY is stabilizing after a long fall. Right now the yen is consolidating. The quotes are testing the local support and resistance levels of 108.750 and 109.000. We expect reports from the US. Open positions from the key levels.

The Economic News Feed for 01.02.2019 is calm.

The indicators do not provide signals, 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 crossing the %D line. There are no signals at the moment.

• Support levels: 108.750, 108.500
• Resistance levels: 109.000, 109.150, 109.400

If the price fixes below 108.750 expect the quotes to fall further toward 108.400-108.200.

Alternatively, the quotes can grow toward 109.300-109.500.

by JustMarkets, 2019.02.01

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.