Overview of Currency Pairs Analysis

 

Euro / Dollar Currency Pair

Currency pair indicators

Pre-open 1.1329
Previous Close Category 1.1236
% chg. Last day -0.83%

 

The German manufacturer’s inflation index, which shows inflation between factories and large companies, has a new absolute record of 19.2% per year. High energy prices continue to be a major cause of inflation. Energy prices rose by 49.4% this year due to a sharp rise of 83.4%. Spain’s inflation rate is 5.5 percent. This is lower than expected, but inflation has been at an all-time high for 29 years, and is rising faster than wages. Consumer prices in the euro zone fell 4.9% as expected.

Marketing Tips

Support levels: 1.1230, 1.1168
Resistance levels asc 1.1265, 1.1323, 1.1360, 1.1436, 1.1535, 1.1613, 1.1667, 1.1717

From a technical point of view, the euro / dollar hourly rate is still weak. The price is trading in a wide corridor. On the back of a strong strengthening of the dollar index on Friday, the USD quotes fell sharply. The MACD indicator is negative, the pressure of the sellers will prevail. In such market conditions, traders should consider selling positions above the level of protection around the moving average. After a price adjustment above the 1.1265 level, purchasing transactions can be considered on a lower time frame.

If the stock price rises above the 1.1360 resistance level and adjusts above, the average time improvement could resume.

GBP / USD exchange rate

Currency pair indicators

Previous opening: 1.3318
Previous Close: 1.3235
% chg. Last day -0.63%

UK retail sales rose 1.4% in November; An increase of 0.8% is expected. Omicron stress infections continue to increase in the UK before Christmas. Official data shows an increase of 52% in the last week. The Premier League, one of Britain’s most popular entertainment destinations for Christmas, has begun to be canceled.

Marketing Tips

Support levels: 1.3220, 1.3189
Resistance levels asc 1.3272, 1.3301, 1.3365, 1.3434, 1.3507, 1.3575, 1.3685

At the end of the day, the trend against GBP / USD is still positive. However, the rise in the dollar has weakened the British currency. The MACD indicator is negative, the pressure of the sellers will prevail. In such market conditions, traders should buy from nearby support levels but only for further verification on the initiative of buyers. Sales transactions can be taken from the level of protection near the moving average.

If the stock price breaks below the 1.3189 support level and strengthens below, the bearish trend may resume.

USD / JPY currency pair

Currency pair indicators

Previous open: 113.62
Previous Close: 113.70
% chg. Last day: + 0.07%

From a fundamental point of view, the Bank of Japan’s monetary policy is focused on active economic stimulus, while the US Federal Reserve accelerated last week’s numerical reduction program. Such a situation would support the further development of the USD / JPY quotes.

Marketing Tips

Support levels: 113.30, 112.62, 112.30
Resistance levels: 113.95, 114.17, 115.15, 115.50

The global trend in the USD / JPY currency pair is weak. The price could not be reached at the f level change and returned to the wider corridor. In such market conditions, traders may look for sell positions above the 113.95 resistance level, but further confirmation. Buy places should be considered at the 113.30 support level, but further confirmation at the initiative of buyers or after a change of price.

If the exchange rate increases above 114.17, the increase may continue again.

US Dollar / CAD Currency Pair

Currency pair indicators

Previously opened: 1.2773
Previous Close: 1.2887
% chg. Last day: + 0.89%

Federal Reserve officials said Friday that the initial interest rate hike could come as early as March. Investors began converting their portfolios into “cash,” which led to an increase in the dollar index. The appreciation of the dollar has led to a decline in major currencies against the US dollar. The Canadian dollar is a commodity currency, so it is closely related to the dollar index and oil prices. Oil prices are declining sharply as the Omicron variety expands rapidly. All of these factors are weakening the Canadian currency.

Marketing Tips

Support levels fall 1.2828, 1.2721, 1.2677, 1.2638
Resistance levels: 1.2918, 1.2951

From a technical point of view, the USD / CAD exchange rate trend is very good. The MACD indicator has been positive, buyers’ pressure has increased, and there are currently no reversal signals. In such market conditions, it is better to look for purchase deals near the support levels near the moving average in the low time frames. Sales discounts should be considered in the context of fraudulent breaches, but with additional verification in the form of seller initiatives.

If the stock price breaks below the 1.2766 support level and adjusts below, the downtrend may continue.

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