The Analytical Overview of the Main Currency Pairs on 2019.07.16

The EUR/USD currency pair

• Prev Open: 1.12662
• Open: 1.12574
• % chg. over the last day: -0.10
• Day's range: 1.12554– 1.12635
• 52 wk range: 1.1111 - 1.2009

The EUR/USD currency pair continues to consolidate. There is no defined trend. Local levels of support and resistance continue to be 1.12500 and 1.12800. Investors expect additional drivers. Today, investors will evaluate a number of important economic releases from Germany and the United States. We recommend to open positions from key levels.

The Economic News Feed for 16.07.2019:

• - ZEW Economic Mood Index (GER) – 12:00 (GMT+3:00);
• - Retail Sales Report (US) – 15:30 (GMT+3:00);

Indicators do not give accurate signals: the price crossed 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 in the neutral zone, the %K line is below the %D line, which indicates bearish moods.

• Support levels: 1.12500, 1.12300, 1.12000
• Resistance levels: 1.12800, 1.13100, 1.13500

If the price consolidates above 1.12800, expect further growth toward 1.13100-1.13400.

Alternatively, the quotes can drop toward 1.12200-1.12000.

The GBP/USD currency pair

• Prev Open: 1.25495
• Open: 1.25125
• % chg. over the last day: -0.43
• Day's range: 1.25070 - 1.25203
• 52 wk range: 1.2438 - 1.3631

GBP/USD once again moved to a decline. GBP updated local lows. At the moment, GBP/USD quotes are consolidating. The key range is 1.25100-1.25400. The pound remains under pressure due to the uncertainty around Brexit. Trading instrument has the potential to further decline. Today we expect important statistics from the UK. Positions must be opened from key levels.

At 11:30 (GMT + 3:00) a report on the labor market in the UK will be published.

Indicators do not give accurate signals: the price has crossed 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: 1.25100, 1.24800, 1.24400
• Resistance levels: 1.25400, 1.25800, 1.26300

If the price consolidates below 1.25100, a further drop in GBP/USD quotes is expected. The movement will tend toward 1.24800-1.24600.

Alternatively, the quotes can grow toward 1.25700-1.25900.

The USD/CAD currency pair

• Prev Open: 1.30312
• Open: 1.30472
• % chg. over the last day: +0.11
• Day's range: 1.30442 - 1.30588
• 52 wk range: 1.2727 - 1.3664

The USD/CAD currency pair has stabilized. CAD is in lateral movement. Currently, the local support and resistance levels are: 1.30350 and 1.30600, respectively. In the near future, technical correction of the trading instrument after a long fall is not excluded. We recommend to pay attention to the dynamics of oil prices. Positions must be opened from key levels.

The Economic News Feed for 16.07.2019 is calm.

Indicators do not give accurate signals: prices are fixed between 50 MA and 100 MA.

The MACD histogram is in the positive zone and continues to rise, indicating a correction of the USD/CAD quotes.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, indicating a bearish mood.

• Support levels: 1.30350, 1.30200, 1.30000
• Resistance levels: 1.30600, 1.30900, 1.31150

If the price consolidates above 1.30600, the price will rise toward 1.30900-1.31100.

Alternatively, the quotes can descend toward 1.30000.

The USD/JPY currency pair

• Prev Open: 107.854
• Open: 107.909
• % chg. over the last day: +0.06
• Day's range: 107.820 - 108.094
• 52 wk range: 104.97 - 114.56

The USD/JPY currency pair continues to consolidate. There is no defined trend. The safe harbor currency tests local support and resistance levels: 107.800 and 108.100, respectively. Financial market participants expect additional drivers. Today we recommend to pay attention to economic releases from the USA. Positions must be opened from key levels.

The Economic News Feed for 16.07.2019 is calm.

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

The MACD histogram is near the 0 mark.

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

• Support levels: 107.800, 107.550
• Resistance levels: 108.100, 108.300, 108.600

If the price consolidates below the 107.800, the quotes will fall toward 107.550-107.400.

Alternatively, USD/JPY can grow to 108.400-108.600.

by JustMarkets, 2019.07.16

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.