The Analytical Overview of the Main Currency Pairs on 2018.06.12

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.17737
  • Open: 1.17821
  • % chg. over the last day: -0.10
  • Day's range: 1.18047 – 1.18204
  • 52 wk range: 1.0571 – 1.2557

The bullish sentiment prevails on the EUR/USD currency pair. Investors took a wait-and-see attitude before the negotiations between the leaders of the United States and North Korea. Also, the Fed meeting is in the focus of attention, which will be held tomorrow. At the moment, the key support and resistance levels are 1.17600 and 1.18000, respectively. We recommend opening positions from these marks.

The news feed on 2018.06.12:
  • - ZEW economic sentiment index in Germany at 12:00 (GMT+3:00);
  • - Inflation report in the US at 15:30 (GMT+3:00).
EUR/USD

Indicators do not send accurate signals. The price has crossed 200 MA.

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

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

Trading recommendations
  • Support levels: 1.17600, 1.17200, 1.16800
  • Resistance levels: 1.18000, 1.18400

If the price fixes above the round level of 1.18000, the EUR/USD quotes are expected to grow. The movement is tending potentially to 1.18400-1.18600.

Alternative option. If the price fixes below the support of 1.17600, we recommend considering sales. The target movement level is 1.17200-1.16800.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.34059
  • Open: 1.33760
  • % chg. over the last day: -0.31
  • Day's range: 1.33760 – 1.33830
  • 52 wk range: 1.2361– 1.4345

Yesterday, aggressive sales were observed on the GBP/USD currency pair against the weak economic statistics. The decrease in quotes exceeded 70 points. In April, manufacturing production fell by -1.4%, while investors expected growth of 0.3%. At the moment, quotes are recovering. The key support and resistance levels are 1.33500 and 1.34000. The positions should be opened from these marks. The trading instrument has the potential for further correction.

The economic calendar on 2018.06.12:
  • - Statistics on the labor market in the UK at 11:30 (GMT+3:00).
GBP/USD

The price is testing 200 MA, which is a strong dynamic resistance.

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 above the %D line, which indicates the GBP/USD quotes growth.

Trading recommendations
  • Support levels: 1.33500, 1.33100, 1.32700
  • Resistance levels: 1.34000, 1.34400, 1.34700

If the price fixes above the round level of 1.34000, further correction of the GBP/USD quotes is expected. The movement is tending potentially to 1.34400-1.34700.

Alternative option. If the price fixes below 1.33500, we recommend considering sales of GBP/USD. The movement is tending potentially to 1.33100-1.32700.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29113
  • Open: 1.29774
  • % chg. over the last day: +0.15
  • Day's range: 1.29765 – 1.29898
  • 52 wk range: 1.2059 – 1.3795

The technical pattern on the USD/CAD currency pair is ambiguous. Quotes are in a sideways trend. Investors expect additional drivers. We recommend paying attention to the news feed from the US. The key support and resistance levels are 1.29700 and 1.30100, respectively. The positions should be opened from these marks.

The news feed on the economy of Canada is calm.

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 has crossed the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.29700, 1.29300, 1.28900
  • Resistance levels: 1.30100, 1.30500

If the price fixes above 1.30100, the USD/CAD quotes are expected to rise. The movement is tending potentially to 1.30500-1.30700.

Alternative option. If the price fixes below the support of 1.29700, we recommend looking for entry points to the market to open short positions. The movement is tending potentially to 1.29300-1.29000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.300
  • Open: 110.034
  • % chg. over the last day: +0.86
  • Day's range: 110.264 – 110.360
  • 52 wk range: 104.56 – 114.74

Yesterday, there were aggressive purchases on the USD/JPY currency pair. The growth of quotes exceeded 100 points. At the moment, the technical pattern is ambiguous: the trading instrument is moving in flat. Local support and resistance levels are 110.150 and 110.400, respectively. The positions should be opened from these marks. Investors expect additional drivers.

Today, the news feed on the economy of Japan is 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 in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 110.150, 109.800, 109.450
  • Resistance levels: 110.400, 110.750

If the price fixes below the "mirror" support of 110.150, the USD/JPY currency pair is expected to correct. The target movement level is 109.800-109.600.

Alternative option. If the price fixes above the resistance of 110.400, it is necessary to look for entry points to the market to open long positions. The movement is tending potentially to 110.750-111.000.

by JustForex, 2018.06.12

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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