The Analytical Overview of the Main Currency Pairs on 2018.04.26

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22316
  • Open: 1.21609
  • % chg. over the last day: -0.50
  • Day's range: 1.21601 – 1.21655
  • 52 wk range: 1.0571 – 1.2557

Yesterday, the US dollar continued to strengthen against the euro, as a result the EUR/USD quotes fell by almost 70 points. At the moment, the technical pattern on the EUR/USD currency pair is ambiguous. Local support and resistance levels are: 1.21600 and 1.22000, respectively. Investors took a wait-and-see attitude before the ECB meeting. We recommend opening positions from the key levels.

The news feed on 2018.04.26:
  • – The ECB interest rate decision at 14:45 (GMT+3);
  • – A report on core durable goods orders in the US at 15:30 (GMT+3).
EUR/USD

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

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

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

Trading recommendations
  • Support levels: 1.21600, 1.21000
  • Resistance levels: 1.22000, 1.22400, 1.22800

If the price fixes below the support level of 1.21600, further decline in the EUR/USD quotes is expected. The movement is tending potentially to the round level of 1.21000.

Alternative option. If the price fixes above the already "mirror" resistance level of 1.22000, it is necessary to consider purchases of EUR/USD. The target movement level is 1.22400-1.22800.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.39727
  • Open: 1.39255
  • % chg. over the last day: -0.29
  • Day's range: 1.39358 – 1.39482
  • 52 wk range: 1.2361– 1.4345

The technical pattern on the GBP/USD currency pair is ambiguous. The trading instrument is in a sideways trend. Financial market participants expect additional drivers. On Friday, April 27, reports on GDP of the United Kingdom and the United States will be published. At the moment, the key support and resistance levels are: 1.39200 and 1.39600, respectively. The positions must be opened from these marks.

Today, the news feed on the UK economy is calm.

GBP/USD

The price has fixed below 50 MA and 200 MA, which signals the power of sellers.

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

Stochastic Oscillator is located in the neutral zone, the %K line is crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.39200, 1.38800
  • Resistance levels: 1.39600, 1.40200, 1.40800

If the price fixes below the support level of 1.39200, the GBP/USD quotes are expected to decline. The movement is tending potentially to 1.38800-1.38600.

An alternative may be the correction of the GBP/USD currency pair to 1.40000-1.40200.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28279
  • Open: 1.28383
  • % chg. over the last day: +0.03
  • Day's range: 1.28286 – 1.28362
  • 52 wk range: 1.2059 – 1.3795

At the moment, the USD/CAD quotes are moving in flat. Investors took a wait-and-see attitude before the publication of the US GDP report, which will be released tomorrow. The key support and resistance levels are: 1.28200 and 1.28600, respectively. We recommend paying attention to the dynamics of oil quotes. Positions must be opened from the key levels.

Today, the news feed on Canada's economy is calm.

USD/CAD

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

The MACD histogram has moved to the negative zone, which indicates a correction of the USD/CAD currency pair.

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

Trading recommendations
  • Support levels: 1.28200, 1.27700, 1.27300
  • Resistance levels: 1.28600, 1.29000

If the price fixes above 1.28600, the USD/CAD quotes are expected to rise. The movement is tending potentially to the round level of 1.29000.

Alternative option. If the price fixes below the local support of 1.28200, it is necessary to consider sales of USD/CAD. The target movement level is 1.27700-1.27500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.813
  • Open: 109.423
  • % chg. over the last day: +0.51
  • Day's range: 109.244 – 109.347
  • 52 wk range: 104.56 – 114.74

The USD/JPY currency pair continued to rise against the 10-year US government bonds yield growth. For the first time in a long period, the indicator exceeded the 3% mark. At the moment, the quotes are testing local support and resistance levels: 109.200 and 109.450, respectively. In the near future, technical correction is not ruled out. Positions must be opened from the key levels.

The news feed on Japan's economy is calm.

USD/JPY

The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.

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 crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 109.200, 108.800. 108.400
  • Resistance levels: 109.450, 109.750

If the price fixes above the 109.450 level, further growth of the USD/JPY currency pair is expected. The movement is tending potentially to 109.750-110.000.

Alternative option. If the price fixes below the already "mirror" support of 109.200, it is necessary to consider sales of USD/JPY. The movement is tending potentially to 108.800-108.400.

by JustForex, 2018.04.26

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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