The Analytical Overview of the Main Currency Pairs on 2017.12.12

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.17649
  • Open: 1.17680
  • % chg. over the last day: +0.07
  • Day's range: 1.17645 – 1.17841
  • 52 wk range: 1.0341 – 1.2069

Yesterday's trading on the main currency pairs was fairly calmly. EUR/USD was in a sideways trend with a range of 40 points. The key levels of support and resistance are still 1.17650 and 1.18000, respectively. We recommend opening positions from these marks. At the moment, investors have taken a wait-and-see attitude. We are waiting for important economic reports.

The news feed on 2017.12.12:

  • - Statistics on business activity in Germany and the Eurozone at 12:00 (GMT+2:00);
  • - The producer price index in the USA at 15:30 (GMT+2:00).

We also recommend paying attention to the speech by the ECB head Draghi.

EUR/USD

Indicators do not send accurate signals. The price has crossed 50 MA.

The MACD histogram is located in the negative zone and continues to decline, which signals a bearish sentiment on EUR/USD.

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

Trading recommendations
  • Support levels: 1.17650, 1.17300, 1.17000
  • Resistance levels: 1.18000, 1.18500

If the price fixes below 1.17650, you need to look for entry points to the market to open short positions. The target level of movement is 1.17300-1.17000.

Alternative option. If the price fixes above the round level 1.18000, we recommend considering buying EUR/USD. The movement is tending to 1.18500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33700
  • Open: 1.33369
  • % chg. over the last day: -0.32
  • Day's range: 1.33337 – 1.34635
  • 52 wk range: 1.1450 – 1.3618

At the moment, there is an ambiguous technical pattern on the GBP/USD currency pair. The trading instrument is consolidating in the range of 1.33300-1.33700. Participants of the financial markets took a wait-and-see approach before the publication of the report on inflation in the UK at 11:30 (GMT+2:00). Positions should be opened if the price fixes below/above the key levels.

We recommend you to pay attention to the news feed from the USA.

GBP/USD

The signals of the indicators are different. The price has fixed below 50 MA and 200 MA.

The MACD histogram has begun to rise and is above the signal line, which indicates an increase in the GBP/USD currency pair.

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

Trading recommendations
  • Support levels: 1.33300, 1.33000
  • Resistance levels: 1.33700, 1.34300, 1.35000

If the price fixes below the local support of 1.33300, we recommend considering sales of GBP/USD. The movement is tending to 1.33000-1.32500.

Alternative option. If the price fixes above 1.33700, it is necessary to consider buying GBP/USD. The target movement level is 1.34300-1.34500. When following the positions, we recommend using a trailing stop.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28468
  • Open: 1.28559
  • % chg. over the last day: -0.06
  • Day's range: 1.28286 – 1.28615
  • 52 wk range: 1.2059 – 1.3795

The USD/CAD currency pair is still being traded in the flat. A unidirectional trend is not observed. In the near future, a technical correction is not ruled out. The key levels are still: support – 1.28200; resistance – 1.28600. We recommend opening positions from these marks. We are waiting for statistics from the USA.

The news feed on Canada's economy is calm.

USD/CAD

The indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA, which are strong dynamic levels of support and resistance.

The MACD histogram is located near the 0 mark.

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

Trading recommendations
  • Support levels: 1.28200, 1.27600
  • Resistance levels: 1.28600, 1.29000

If the price fixes below the support level of 1.28200, it is necessary to consider sales of USD/CAD. The target level of movement is 1.27600.

Alternative option. If the price fixes above the 1.28600 mark, we recommend you to look for entry points to the market to open long positions. The movement is tending to the round level of 1.29000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.525
  • Open: 113.551
  • % chg. over the last day: -0.01
  • Day's range: 113.371 – 113.578
  • 52 wk range: 99.53 – 118.67

USD/JPY continues to consolidate. The key levels of support and resistance are still 113.250 and 113.650 respectively. In the near future, a technical correction is not ruled out. Positions must be opened from the key levels. Investors expect economic reports from the United States. We recommend paying attention to the US government bonds yield.

The news feed on Japan's economy is calm.

USD/JPY

The indicators do not send accurate signals. The price has crossed 50 MA.

The MACD histogram has fixed near the 0 mark.

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

Trading recommendations
  • Support levels: 113.250, 112.750, 112.350
  • Resistance levels: 113.650, 114.000

If the price fixes below the level of 113.250, correction of the USD/JPY currency pair is expected. The movement is tending to the "mirror" support level of 112.750.

Alternative option. If the price fixes above the resistance level of 113.650, it is necessary to consider buying USD/JPY. The movement is tending to 114.000.

by JustForex, 2017.12.12

We recommend you to get acquainted with the daily overview of the news feed.

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.

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