The Analytical Overview of the Main Currency Pairs on 2018.07.13

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16728
  • Open: 1.16695
  • % chg. over the last day: -0.09
  • Day's range: 1.16269 – 1.16501
  • 52 wk range: 1.0571 – 1.2557

The bearish sentiment prevails on the EUR/USD currency pair. Yesterday, an inflation report in the US was published, which confirmed investors' forecasts. The core consumer price index for June, as expected, counted to 0.2%. At the moment, the key support and resistance levels are 1.16250 and 1.16600, respectively. We recommend opening positions from these marks. The trading instrument has the potential for further reduce.

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

EUR/USD

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

The MACD histogram is located in the negative zone, below the signal line, which gives a strong signal to sell EUR/USD.

Stochastic Oscillator is in oversold zone, the %K line is crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.16250, 1.15900
  • Resistance levels: 1.16600, 1.17000, 1.17400

If the price fixes below 1.16250, the EUR/USD quotes are expected to decline. The movement is tending to 1.15900-1.15700.

Alternative option. If the price fixes above 1.16600, we recommend considering purchases of EUR/USD. The target movement level is 1.17000-1.17200.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32025
  • Open: 1.32036
  • % chg. over the last day: -0.22
  • Day's range: 1.31299 – 1.31638
  • 52 wk range: 1.2361 – 1.4345

There is a downward trend on the GBP/USD currency pair. During yesterday's and today's trading sessions, quotes have dropped by almost 100 points. At the moment, the key support and resistance levels are 1.31250 and 1.31700, respectively. We recommend opening positions from these marks. In the near future, technical correction is not ruled out.

Today, the news feed on the UK economy is calm.

GBP/USD

The price is being traded below 50 MA and 200 MA, which indicates 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 near the oversold zone, the %K line is below the %D line, which indicates a decrease in the GBP/USD quotes.

Trading recommendations
  • Support levels: 1.31250, 1.31000
  • Resistance levels: 1.31700, 1.32200, 1.32600

If the price fixes below 1.31250, further decline in the GBP/USD quotes is expected. The movement is tending to 1.31000-1.30700.

Alternative option. If the price fixes above the resistance of 1.31700, it is necessary to consider purchases of GBP/USD. The movement is tending to 1.32000-1.32200.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32058
  • Open: 1.31542
  • % chg. over the last day: -0.33
  • Day's range: 1.31938 – 1.32175
  • 52 wk range: 1.2059 – 1.3795

During yesterday's trading session, the bearish sentiment was observed on the USD/CAD currency pair. Quotes fell by almost 70 points. At the moment, the trading instrument is in a sideways trend. Local support and resistance levels are 1.31600 and 1.31900, respectively. We recommend opening positions from these marks. The further growth of quotes is not excluded.

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

Stochastic Oscillator is located near the overbought zone, the %K line is above the %D line, which gives a weak signal to buy USD/CAD.

Trading recommendations
  • Support levels: 1.31600, 1.31300, 1.31000
  • Resistance levels: 1.31900, 1.32200

If the price fixes below the support of 1.31600, 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 1.31900, further growth of the USD/CAD quotes is expected. The target movement level is 1.32200-1.32500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.933
  • Open: 112.479
  • % chg. over the last day: +0.61
  • Day's range: 112.463 – 112.548
  • 52 wk range: 104.56 – 114.74

An upward trend is still observed on the USD/JPY currency pair. During yesterday's and today's trading sessions, quotes have risen by more than 80 points. At the moment, local support and resistance levels are 112.500 and 112.850, respectively. The positions should be opened from these marks. In the near future, technical correction is not ruled out.

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

Trading recommendations
  • Support levels: 112.500, 112.100, 111.700
  • Resistance levels: 112.850, 113.100

If the price fixes below 112.500, the USD/JPY currency pair is expected to correct. The movement is tending to 112.100-111.900.

Alternative option. If the price fixes above the level of 112.850, USD/JPY is expected to grow. The target movement level is 113.100-113.300.

by JustForex, 2018.07.13

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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