The Analytical Overview of the Main Currency Pairs on 2018.07.03

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16848
  • Open: 1.16386
  • % chg. over the last day: -0.32
  • Day's range: 1.16338 – 1.16429
  • 52 wk range: 1.0571 – 1.2557

During yesterday's trading session, sales were observed on the EUR/USD currency pair. The euro was under pressure due to disagreements on migration policy between German Interior Minister and Chancellor Angela Merkel. At the moment, quotes are recovering. Local support and resistance levels are 1.16300 and 1.16700, respectively. We recommend opening positions from the key levels.

The news feed on the economy of the Eurozone and the US is calm.

EUR/USD

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

The MACD histogram is near the 0 mark.

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

Trading recommendations
  • Support levels: 1.16300, 1.15900, 1.15500
  • Resistance levels: 1.16700, 1.17000

If the price fixes above the resistance level of 1.16700, further correction of the EUR/USD currency pair is expected. The movement is tending to 1.17000-1.17300.

Alternative option. If the price fixes below 1.16300, we recommend looking for entry points to open short positions. The target movement level is 1.15900-1.15700

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31950
  • Open: 1.31459
  • % chg. over the last day: -0.51
  • Day's range: 1.31441 – 1.31713
  • 52 wk range: 1.2361– 1.4345

During yesterday's trading session, there was the bearish sentiment on the GBP/USD currency pair. Yesterday, the index of economic activity in the UK manufacturing sector was published, which counted to 54.4 instead of the expected 54.1. However, despite this, the British pound was under pressure. At the moment, the GBP/USD quotes are recovering. Local support and resistance levels are 1.31400 and 1.31850, respectively. We recommend opening positions from these marks. The trading instrument has the potential for further growth.

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

GBP/USD

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

The MACD histogram is near the 0 mark.

Stochastic Oscillator is located near the overbought zone, the %K line is above the %D line, which indicates the bullish sentiment.

Trading recommendations
  • Support levels: 1.31400, 1.30900, 1.30500
  • Resistance levels: 1.31850, 1.32300, 1.32800

If the price fixes above the resistance of 1.31850, the GBP/USD quotes are expected to rise. The movement is tending to 1.32300-1.32500.

Alternative option. If the price fixes below the support level of 1.31400, it is necessary to consider sales of GBP/USD. The movement is tending to 1.30900-1.30500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31406
  • Open: 1.31834
  • % chg. over the last day: +0.30
  • Day's range: 1.31611 – 1.31837
  • 52 wk range: 1.2059 – 1.3795

The technical pattern on the USD/CAD currency pair is ambiguous. At the moment, quotes are consolidating in the range of 1.31500-1.31800. The trading instrument has the potential to further reduce. The Canadian dollar is supported by a positive dynamics in the market of "black gold". We recommend opening positions from the key levels.

The news feed on the economy of Canada is calm.

USD/CAD

Indicators point to the power of sellers: the price has fixed below 50 MA and 200 MA.

The MACD histogram is moving into the negative zone, which indicates the bearish sentiment.

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

Trading recommendations
  • Support levels: 1.31500, 1.31300, 1.31000
  • Resistance levels: 1.31800, 1.32200, 1.32700

If the price fixes below the support of 1.31500, we recommend considering sales of USD/CAD. The movement is tending to 1.31300-1.31000.

Alternative option. If the price fixes above the level of 1.31800, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.32200-1.32500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.619
  • Open: 110.856
  • % chg. over the last day: +0.14
  • Day's range: 110.933 – 111.014
  • 52 wk range: 104.56 – 114.74

The technical pattern on the USD/JPY currency pair is ambiguous. A unidirectional trend is not observed. The key support and resistance levels are 110.800 and 111.100. A trading instrument has the potential for decline. Positions should be opened from the key levels.

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, above the signal line, which signals to buy USD/JPY.

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: 110.800, 110.500, 110.200
  • Resistance levels: 111.100, 111.500

If the price fixes below the support level of 110.800, we recommend considering sales of USD/JPY. The movement is tending to 110.500-110.200.

An alternative may be the USD/JPY quotes growth to 111.500-111.700.

by JustForex, 2018.07.03

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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