The Analytical Overview of the Main Currency Pairs on 2018.03.29

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.24016
  • Open: 1.23073
  • % chg. over the last day: -0.73
  • Day's range: 1.23014 – 1.23352
  • 52 wk range: 1.0571 – 1.2557

Yesterday, the US dollar continued to strengthen against the major currencies. Support was provided by optimistic economic reports. The fall in the EUR/USD quotations was almost 100 points. At the moment, the trading instrument is consolidating in the range of 1.23000-1.23350. The EUR/USD currency pair is tending to decrease. We recommend opening positions from the key levels.

Important statistics for 2018.03.29:
  • - A report on the German labor market at 10:55 (GMT+3:00);
  • - Data on incomes and expenditures of individuals in the US at 15:30 (GMT+3:00).
EUR/USD

Indicators point to the power of sellers. The price has fixed below 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.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which also gives a signal to sell EUR/USD.

Trading recommendations
  • Support levels: 1.23000, 1.22600
  • Resistance levels: 1.23350, 1.23750, 1.24200

If the price fixes below the round level of 1.23000, a further drop in EUR/USD is expected. The movement is tending to 1.22600-1.22400.

Alternative option. If the price fixes above 1.23350, you need to look for entry points in the market to open long positions. The movement is tending to 1.23750-1.24000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.41518
  • Open: 1.40759
  • % chg. over the last day: -0.52
  • Day's range: 1.40355 – 1.40962
  • 52 wk range: 1.2361– 1.4345

In the course of yesterday's trading session, the bearish sentiment was prevailing on the GBP/USD currency pair. The pound weakened against the US dollar by more than 80 points. At the moment, the key trading range is 1.40350-1.40850. The correction of the GBP/USD quotes is possible in the near future. Investors are waiting for the publication of important economic reports. Positions need to be opened from the key levels of support and resistance.

At 11:30 (GMT+3:00) the data on the UK GDP will be released.

GBP/USD

Indicators point to the power of sellers. The price has fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone and continues to decline, indicating a fall in GBP/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which sends a signal to sell GBP/USD.

Trading recommendations
  • Support levels: 1.40350, 1.39850
  • Resistance levels: 1.40850, 1.41500

If the price fixes below 1.40350, it is necessary to consider sales of GBP/USD. The movement is tending to 1.40000-1.39850.

Alternative option. If the price fixes above the "mirror" resistance of 1.40850, GBP/USD is expected to rise. The movement is tending to 1.41500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28853
  • Open: 1.29206
  • % chg. over the last day: +0.26
  • Day's range: 1.29070 – 1.29306
  • 52 wk range: 1.2059 – 1.3795

The technical pattern on the USD/CAD currency pair is still ambiguous. At the moment, quotes are consolidating. The key trading range is 1.29000-1.29400. Participants of the financial markets expect the publication of a report on Canada's GDP at 15:30 (GMT+3:00). Positions need to be opened from the key levels of support and resistance.

We recommend paying attention to the news feed on the US economy.

USD/CAD

The price has fixed between 50 MA and 200 MA, which are strong dynamic levels of support and resistance.

The MACD histogram is located in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.

Stochastic Oscillator is close to the oversold zone, the %K line is above the %D line, which indicates the growth of the USD/CAD quotes.

Trading recommendations
  • Support levels: 1.29000, 1.28650, 1.28250
  • Resistance levels: 1.29400, 1.29800, 1.30150

If the price fixes above the resistance level of 1.29400, an increase in the USD/CAD currency pair is expected. The movement is tending to 1.29800-1.30150.

An alternative may be the correction of the USD/CAD quotations to the level of 1.28650-1.28250.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 105.328
  • Open: 106.842
  • % chg. over the last day: +1.40
  • Day's range: 106.392 – 106.933
  • 52 wk range: 104.56 – 114.74

Since the beginning of the current week, there has been a pronounced upward trend on USD/JPY currency pair. Yesterday there were aggressive purchases. The currency of the "safe haven" weakened against the US dollar by more than 160 points. The USD/JPY quotes have reached the round level of 107.000. At the moment, the trading instrument is consolidating in the range of 106.500-106.750. The further growth of the USD/JPY currency pair is not excluded. Positions must be opened from the key levels.

We recommend you to pay attention to statistics from the USA.

USD/JPY

Indicators point to the power of buyers. The price has fixed above 50 MA and 200 MA.

The MACD histogram is located in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the growth of USD/JPY.

Trading recommendations
  • Support levels: 106.500, 106.150, 105.750
  • Resistance levels: 106.750, 107.000

If the price fixes above the 106.750 level, further growth of the USD/JPY currency pair is expected. The movement is tending to 107.500.

Alternative option. If the price fixes below the level of 106.500, the correction of the USD/JPY quotes is expected. The target level of movement is 106.150-106.000.

by JustForex, 2018.03.29

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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