The Analytical Overview of the Main Currency Pairs on 2018.04.27

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.21609
  • Open: 1.21030
  • % chg. over the last day: -0.44
  • Day's range: 1.20663 – 1.20901
  • 52 wk range: 1.0571 – 1.2557

Yesterday, the optimistic comments of the head of the ECB Mario Draghi did not help the euro to hold the position. The EUR/USD quotes fell by almost 100 points. Today, the growth of the US currency continued. Investors expect a report on the US GDP. Local support and resistance levels are: 1.20600 and 1.21100, respectively. A further decline in the trading instrument is not excluded. We recommend opening positions from the key levels.

The news feed on 2018.04.27:
  • – Statistics on labor market in Germany at 10:55 (GMT+3:00);
  • – Data on the US GDP at 15:30 (GMT+3:00).
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 and continues to decline, which gives a strong signal to sell EUR/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which also indicates a decrease in the EUR/USD quotes.

Trading recommendations
  • Support levels: 1.20600, 1.20000
  • Resistance levels: 1.21100, 1.21700, 1.22300

If the price fixes below the support level of 1.20600, a further decline in the EUR/USD quotes is expected. The movement is tending potentially to 1.20200-1.20000.

Alternative option. If the price fixes above the resistance level of 1.21100, it is necessary to consider purchases of EUR/USD. The target movement level is 1.21500-1.21700.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.39255
  • Open: 1.39125
  • % chg. over the last day: -0.09
  • Day's range: 1.38861 – 1.39214
  • 52 wk range: 1.2361– 1.4345

The technical pattern is still ambiguous on the GBP/USD currency pair. Financial market participants expect additional drivers. Today, reports on GDP of the United Kingdom and the United States will be published, which may influence the alignment of forces on the GBP/USD currency pair. At the moment, the key support and resistance levels are: 1.38750 and 1.39300, respectively. The positions must be opened from these marks.

Today, at 11:30 (GMT+3:00) a report on GDP in the UK will be published.

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, below the signal line, which gives a strong signal to sell GBP/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which also indicates a decrease in the GBP/USD quotes.

Trading recommendations
  • Support levels: 1.38750, 1.38300, 1.38000
  • Resistance levels: 1.39300, 1.39800, 1.40300

If the price fixes below the support level of 1.38750, the GBP/USD quotes are expected to decline. The movement is tending potentially to 1.38300-1.38000.

An alternative may be the growth of the GBP/USD currency pair to 1.39800-1.40000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28383
  • Open: 1.28680
  • % chg. over the last day: +0.23
  • Day's range: 1.28679 – 1.28731
  • 52 wk range: 1.2059 – 1.3795

Last sessions the USD/CAD quotes have been moving in flat. At the moment, the key support and resistance levels are: 1.28600 and 1.29000, respectively. The trading instrument has the potential for further growth. Investors took a wait-and-see attitude before the publication of the US GDP report. The positions must be opened from these marks.

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

USD/CAD

The price has fixed above 50 MA and 200 MA, which indicates the bullish sentiment.

The MACD histogram is in the positive zone, above the signal line, which signals to buy USD/CAD.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which also indicates the USD/CAD growth.

Trading recommendations
  • Support levels: 1.28600, 1.28200, 1.27600
  • Resistance levels: 1.29000, 1.29500

If the price fixes above the round level of 1.29000, the USD/CAD quotes are expected to grow. The movement is tending potentially to 1.29400-1.29600.

Alternative option. If the price fixes below the support level of 1.28600, it is necessary to consider sales of USD/CAD. The target movement level is 1.28200-1.28000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.423
  • Open: 109.277
  • % chg. over the last day: -0.10
  • Day's range: 109.259 – 109.346
  • 52 wk range: 104.56 – 114.74

The USD/JPY currency pair is in a sideways trend. The 10-year US government bonds yield has moved away from local extremes. At the moment, the USD/JPY quotes are testing local support and resistance levels: 109.150 and 109.450, respectively. The positions must be opened from these marks. In the near future, a technical correction is not ruled out.

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 near the 0 mark. There are no signals at the moment.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which signals to buy USD/JPY.

Trading recommendations
  • Support levels: 109.150, 108.800. 108.400
  • Resistance levels: 109.450, 110.000

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 support level of 109.150, it is necessary to consider sales of USD/JPY. The movement is tending potentially to 108.800-108.400.

by JustForex, 2018.04.27

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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