The Analytical Overview of the Main Currency Pairs on 2018.06.05

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16561
  • Open: 1.16989
  • % chg. over the last day: +0.28
  • Day's range: 1.16832 – 1.17034
  • 52 wk range: 1.0571 – 1.2557

There is an ambiguous technical pattern on the EUR/USD currency pair. At the moment, the trading instrument is consolidating. The key range is 1.16650-1.17000. Tensions over the international trade war has resumed again. Participants in financial markets expect important statistics from the US. The EUR/USD quotes are tending to recover. We recommend to open positions from the key levels.

The news feed on 2018.06.05:
  • - Data on economic activity in the Eurozone at 11:00 (GMT+3:00);
  • - The index of economic activity in the non-manufacturing sector of the US from ISM -at 17:00 (GMT+3:00).
EUR/USD

Indicators do not send accurate signals: 50 MA has crossed 200 MA.

The MACD histogram is near the 0 mark.

Stochastic Oscillator has moved away from the oversold zone, the %K line is above the %D line, which gives a strong signal to buy economic.

Trading recommendations
  • Support levels: 1.16650, 1.16250, 1.15750
  • Resistance levels: 1.17000, 1.17350, 1.17900

If the price fixes above the round level of 1.17000, you need to look for entry points to the market to open long positions. The movement is tending to 1.17350-1.17500.

Alternative option. If the price fixes below the support level of 1.16650, the economic quotes are expected to fall. The target movement level is 1.16250-1.15750.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33350
  • Open: 1.33123
  • % chg. over the last day: -0.28
  • Day's range: 1.33020 – 1.33201
  • 52 wk range: 1.2361– 1.4345

During yesterday's trading, the bearish sentiment prevailed on the GBP/USD currency pair, despite optimistic data on economic activity in the construction sector of the country. The trading instrument has updated local extremes. Currently, GBP/USD is consolidating. The key range is 1.33000-1.33400. The positions must be opened from these marks.

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

GBP/USD

The signals of the indicators are different. The price has crossed 200 MA.

The MACD histogram is in the negative zone and continues to decline, which sends a signal to sell GBP/USD.

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

Trading recommendations
  • Support levels: 1.33000, 1.32600, 1.32300
  • Resistance levels: 1.33400, 1.33900

If the price fixes below the round level of 1.33000, further decrease of the GBP/USD currency pair is expected. The movement is tending to 1.32600-1.32400.

An alternative may be the growth of GBP/USD to 1.33400-1.33750.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29440
  • Open: 1.29266
  • % chg. over the last day: -0.25
  • Day's range: 1.29192 – 1.29379
  • 52 wk range: 1.2059 – 1.3795

Since the beginning of this week, trading on the USD/CAD currency pair is calm. A unidirectional trend is not observed. The trading instrument os in a sideways trend. Investors expect additional drivers. The USD/CAD quotes are testing local support and resistance levels: 1.29100 and 1.29450 respectively. The positions must be opened from these marks.

Today, the news feed on the economy of Canada is calm.

USD/CAD

Indicators do not send accurate signals: the price has crossed 50 MA and 200 MA.

The MACD histogram is near the 0 mark.

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: 1.29100, 1.28450, 1.28000
  • Resistance levels: 1.29450, 1.29850, 1.30350

If the price fixes below 1.29100, the USD/CAD quotes are expected to fall. The movement is tending to 1.28600-1.28400.

Alternative option. If the price fixes above the local resistance of 1.29450, we recommend you to look for entry points to the market to open long positions. The movement is tending to 1.29850-1.30000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.437
  • Open: 109.799
  • % chg. over the last day: +0.33
  • Day's range: 109.729 – 109.993
  • 52 wk range: 104.56 – 114.74

USD/JPY continues to show positive dynamics. During yesterday's and today's trading, the growth of quotations has counted almost to 60 points. At the moment, USD/JPY is consolidating in the range of 109.750-110.00. Investors expect important statistics from the US. We recommend opening positions from the key support and resistance levels.

The news feed on the economy of Japan is rather calm.

USD/JPY

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/JPY.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.

Trading recommendations
  • Support levels: 109.750, 109.350, 109.000
  • Resistance levels: 110.000, 110.300, 110.600

If the price fixes above the round level of 110.000, further growth of the USD/JPY currency pair is expected. The movement is tending to 110.300-110.600.

Alternative option. If the price fixes below the "mirror" support of 109.750, it is necessary to consider selling USD/JPY. The movement is tending to 109.450-109.300.

by JustForex, 2018.06.05

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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