The Analytical Overview of the Main Currency Pairs on 2019.06.11

The EUR/USD currency pair

• Prev Open: 1.13219
• Open: 1.13113
• % chg. over the last day: -0.02
• Day's range: 1.13074 – 1.13186
• 52 wk range: 1.1111 – 1.2009

EUR/USD stabilized after a long rally since the beginning of the month. Right now the quotes are consolidating. The local support and resistance are 1.12900 and 1.13250. USD remains under pressure due to the growth of expectations for the Federal Reserveto decrease the rates on the next meeting. The investors keep watching the trade conflict between the US and China. Yesterday Donald Trump claimed that is willing to introduce additional fees on wares worth more than 300 billion USD if the trade will won't be signed on the G20 summit in Japan. You should open positions from the key levels.

At 15:30 (GMT+3:00) the US will publish the Manufacturer Price Index.

The indicators do not provide precise signlas, the price is consolidating next to 50 MA which acts as a strong dynamic support.

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: 1.12900, 1.12500, 1.12200
• Resistance levels: 1.13250, 1.13450, 1.14000

If the price fixes above 1.13250, expect further growth toward 1.13600-1.13800.

Alternatively, the quotes can descend towards 1.12600-1.12400.

The GBP/USD currency pair

• Prev Open: 1.27264
• Open: 1.26838
• % chg. over the last day: -0.25
• Day's range: 1.26770 – 1.26926
• 52 wk range: 1.2438 – 1.3631

GBP/USD is in the bearish mood. The trading instrument updated the local minimums. The demand for GBP is weakened after the release of the weak GDP reports in the Manufacturing Industry in the UK. The quotes are consolidating, the key range is 1.26550-1.27700. GBP can descend further. Open positions from the key levels and track relevant info regarding Brexit.

At 11:30 (GMT+3:00) the UK will publish a labour market report.

The indicators do not 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 whcih gives a weak signal to sell GBP/USD.

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: 1.26550, 1.26100, 1.25800
• Resistance levels: 1.27000, 1.27350, 1.27600

If the price fixes below 1.26550, expect further descend towards 1.26200-1.26000.

Alternatively, the quotes can grow towards 1.27350-1.27600.

The USD/CAD currency pair

• Prev Open: 1.32395
• Open: 1.32684
• % chg. over the last day: +0.22
• Day's range: 1.32590 – 1.32722
• 52 wk range: 1.2727 – 1.3664

USD/CAD stabilized after a long descend and is consolidating around 1.32400-1.32900. The quotes can descend further. Keep an eye on the oil quotes dynamics and open positions from the key levels.

The Economic News Feed for 11.06.2019 is calm.

The price fixed below 50 MA and 200 MA which points to the power of th sellers.

The MACD histogram is in the negative zone but above the signal line which gives a weak signal to sell USD/CAD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points to the bearish mood.

• Support levels: 1.32400, 1.32000
• Resistance levels: 1.32900, 1.33450, 1.33650

If the price fixes below 1.32400, expect further descend towards 1.32000.

Alternatively, the quotes can correct towards 1.33300-1.33500.

The USD/JPY currency pair

• Prev Open: 108.465
• Open: 108.427
• % chg. over the last day: -0.08
• Day's range: 108.349 – 108.642
• 52 wk range: 104.97 – 114.56

USD/JPY remains ambiguous. The trading instrument is moving in a flat, the key support and resistance levels are 108.350 and 108.700. The demand on the safe assets remains relatively high due to a high-stress situation in the world economy. Keep an eye on the US Treasury bonds' yield and open positions from the key levels.

The Economic News Feed for 11.06.2019 is calm.

The indicators do not provide precise signals, 50 MA is crossing 200 MA.

The MACD histogram is in the positive zone which points to the bullish mood.

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

• Support levels: 108.350, 108.100, 107.850
• Resistance levels: 108.700, 108.900, 109.200

If the price fixes above 108.700, expect the quotes to grow towards 109.000-109.300.

Alternatively, the quotes can fall twoards 108.100-107.850.

by JustMarkets, 2019.06.11

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.