The Analytical Overview of the Main Currency Pairs on 2018.04.03

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23200
  • Open: 1.23018
  • % chg. over the last day: -0.16
  • Day's range: 1.22976 – 1.23048
  • 52 wk range: 1.0571 – 1.2557

The technical pattern on the EUR/USD currency pair is still ambiguous. The trading instrument is moving in flat. Investors expect additional drivers. The key support and resistance levels are 1.23000 and 1.23350. We recommend you to open positions from these marks. Trade relations between the US and China have worsened again, which puts pressure on the American currency.

The news feed on 2018.04.03:
  • - the index of business activity in the manufacturing sector in Germany at 10:55 (GMT+3:00).
EUR/USD

Indicators don’t show accurate signals. The price has fixed between 50 MA and 200 MA.

The MACD histogram is near 0 mark.

The Stochastic Oscillator is located in the overbought zone, the %K line is above the %D line, which gives a weak signal to buy EUR/USD.

Trading recommendations
  • Support levels: 1.23000, 1.22750, 1.22500
  • Resistance levels: 1.23350, 1.23700, 1.24000

If the price fixes above 1.23350, it is necessary to consider purchases of EUR/USD. The movement is tending potentially to 1.23700-1.24000.

Alternative option. If the price fixes below the round level of 1.23000, it is necessary to look for entry points to the market to open short positions. The movement is tending potentially to 1.22500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.40147
  • Open: 1.40419
  • % chg. over the last day: +0.08
  • Day's range: 1.40416 – 1.40513
  • 52 wk range: 1.2361– 1.4345

At the moment, there is an upward trend on the GBP/USD currency pair. The key support and resistance levels are: 1.40500 and 1.40850, respectively. The positions should be opened from these marks. We recommend following up-to-date news concerning the trade relations between the US and China.

At 11:30 (GMT+3:00), the index of business activity in the manufacturing sector in Great Britain will be published.

GBP/USD

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

The MACD histogram began to rise and moved to the positive zone, indicating bullish sentiment.

Stochastic Oscillator is located in the overbought zone, the %K line is above the %D line, which gives a weak signal to buy GBP/USD.

Trading recommendations
  • Support levels: 1.40500, 1.40200, 1.39900
  • Resistance levels: 1.40850, 1.41200, 1.41600

If the price fixes above the resistance level of 1.40850, it is necessary to consider purchases of GBP/USD. The movement is tending potentially to 1.41200-1.41600.

An alternative may be the fall of the GBP/USD currency pair to 1.40200-1.39900.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28885
  • Open: 1.29097
  • % chg. over the last day: +0.22
  • Day's range: 1.28729 – 1.28778
  • 52 wk range: 1.2059 – 1.3795

Yesterday, the USD/CAD currency pair held the key offer zone at 1.29300-1.29500, which caused bearish sentiment. Today, during the Asian session, there were aggressive sales. At the moment, the USD/CAD quotes are in the range of 1.28700-1.29000. We recommend you to open positions above/below these marks. Investors monitor the situation in the United States.

The news feed on Canada's economy is calm.

USD/CAD

Indicators don’t show accurate signals: 50 MA crossed 200 MA.

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: 1.28700, 1.28450, 1.28200
  • Resistance levels: 1.29000, 1.29500

If the price fixes below the level of 1.28700, further reduction of the USD/CAD currency pair is expected. The movement is tending potentially to 1.28450-1.28200.

An alternative may be the growth of the USD/CAD quotes to the level of 1.29300-1.29500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.169
  • Open: 105.877
  • 5 chg. over the last day: -0.49
  • Day's range: 105.892 – 106.045
  • 52 wk range: 104.56 – 114.74

Trade relations between the US and China have worsened again, which have caused an increase in the demand for safe assets. Yesterday, the yen strengthened against the US dollar by more than 50 points. At the moment, the USD/JPY quotes are consolidating. The key trading range is 105.850-106.200. Investors expect additional drivers. Positions should be opened from the key levels.

The news feed on Japan's economy is calm.

USD/JPY

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

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

Stochastic Oscillator is near the overbought zone, the %K line is crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 105.850, 105.500, 105.200
  • Resistance levels: 106.200, 106.500, 106.800

If the price fixes below the 105.850 level, it is necessary to consider sales of USD/JPY. The movement is tending potentially to 105.500-105.200.

Alternative option. If the price fixes above the 106.200 level, the USD/JPY quotes are expected to rise. The target movement level is 106.800.

by JustForex, 2018.04.03

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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