The Analytical Overview of the Main Currency Pairs on 2018.06.01

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16612
  • Open: 1.16871
  • % chg. over the last day: +0.25
  • Day’s range: 1.16805 – 1.16943
  • 52 wk range: 1.0571 – 1.2557

Yesterday, there was a variety of trends on the EUR/USD currency pair. At the moment, the quotes are in a sideways trend. Investors expect additional drivers. Today, important economic statistics from the Eurozone and the US will be published. The key trading range is 1.16600-1.17100. We recommend opening positions from the key support and resistance levels.

The news feed on 2018.06.01:
  • – The index of business activity in the manufacturing sector in Germany and the Eurozone at 10:55 and 11:00 (GMT+3:00);
  • – A report on the US labor market at 15:30 (GMT+3:00);
  • – The index of business activity in the US manufacturing sector from ISM at 17:00 (GMT+3:00).
EUR/USD

Price has overcome 200 MA, which indicates the power of buyers.

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

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

Trading recommendations
  • Support levels: 1.16600, 1.16100, 1.15500
  • Resistance levels: 1.17100, 1.17600, 1.18000

If the price fixes above the resistance level of 1.17100, the EUR/USD currency pair is expected to grow. The target movement level is 1.17600-1.17800.

Alternatively, the EUR/USD quotes may decline to 1.16100-1.15800.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32841
  • Open: 1.32944
  • % chg. over the last day: -0.02
  • Day’s range: 1.32854 – 1.32948
  • 52 wk range: 1.2361 – 1.4345

There is a variety of trends on the GBP/USD currency pair. Investors expect additional drivers. We recommend paying attention to economic data from the UK and the US. At the moment, the key support and resistance levels are 1.32600 and 1.33000, respectively. The positions should be opened from these marks.

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

GBP/USD

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

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 above the %D line, which signals to buy GBP/USD.

Trading recommendations
  • Support levels: 1.32600, 1.32200, 1.31800
  • Resistance levels: 1.33000, 1.33400, 1.34000

If the price fixes above the round level of 1.33000, the GBP/USD quotes are expected to rise. The movement is tending potentially to 1.33400-1.33600.

Alternative option. If the price fixes below 1.32600, it is necessary to consider sales of GBP/USD. The movement is tending potentially to the round level of 1.32000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28731
  • Open: 1.29560
  • % chg. over the last day: +0.55
  • Day’s range: 1.29313 – 1.29432
  • 52 wk range: 1.2059 – 1.3795

During yesterday's trading session, there were aggressive purchases on the USD/CAD. The growth of quotes was almost 150 points. As it became known, in the first quarter the economic growth of Canada slightly slowed down and counted to 0.3%. Today, investors have taken a wait-and-see position before the publication of a report on the US labor market. At the moment, the technical pattern is ambiguous. Quotes are moving in the range of 1.29200-1.29700. Positions should be opened from the key support and resistance levels.

The news feed on the economy of Canada is calm. We recommend paying attention to statistics from the US.

USD/CAD

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

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

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

Trading recommendations
  • Support levels: 1.29200, 1.28700, 1.28200
  • Resistance levels: 1.29700, 1.30200

If the price fixes below 1.29200, the USD/CAD quotes are expected to decline. The movement is tending potentially to 1.28700-1.28500.

Alternative option. If the price fixes above the resistance level of 1.29700, we recommend considering purchases of USD/CAD. The movement is tending potentially to 1.30200-1.30400.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.852
  • Open: 108.806
  • % chg. over the last day: -0.12
  • Day’s range: 108.814 – 108.907
  • 52 wk range: 104.56 – 114.74

Yesterday, the technical pattern on the USD/JPY currency pair was ambiguous. Today, quotes are rising. A report on the US labor market is in the focus of attention. At the moment, the key support and resistance levels are 108.900 and 109.400, respectively. The positions should be opened from these marks.

The news feed on the economy of Japan is calm.

USD/JPY

Indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA.

The MACD histogram is in the positive zone and above the signal line, which gives a strong signal to buy USD/JPY.

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: 108.900, 108.500, 108.100
  • Resistance levels: 109.400, 109.800, 110.300

If the price fixes below the support of 108.900, we recommend looking for entry points to the market to open short positions. The movement is tending potentially to 108.500-108.300.

Alternative option. If the price fixes above the resistance level of 109.400, it is necessary to consider purchases of USD/JPY. The movement is tending potentially to 109.800-110.000.

by JustForex, 2018.06.01

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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