The Analytical Overview of the Main Currency Pairs on 2018.07.27

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.17297
  • Open: 1.16417
  • % chg. over the last day: -0.72
  • Day's range: 1.16424 – 1.16572
  • 52 wk range: 1.0571 – 1.2557

Yesterday, there were aggressive sales on the EUR/USD currency pair. The ECB left the key interest rate unchanged at 0.00%, which hit the euro. Quotes fell by more than 80 points. At the moment, the technical pattern is ambiguous. The key support and resistance levels are 1.16350 and 1.16650, respectively. We recommend opening positions from these marks.

The news feed on 2018.07.27:
  • - Data on the US GDP at 14:45 (GMT+3:00).
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, but above the signal line, which gives a weak signal to sell EUR/USD.

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

Trading recommendations
  • Support levels: 1.16350, 1.16000, 1.15700
  • Resistance levels: 1.16650, 1.17000, 1.17400

If the price fixes below 1.16350, we recommend considering sales of EUR/USD. The movement is tending to 1.16000-1.15700.

Alternative option. If the price fixes above the resistance level of 1.16650, the EUR/USD quotes are expected to rise. The movement is tending potentially to 1.17000-1.17200.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31887
  • Open: 1.31075
  • % chg. over the last day: -0.61
  • Day's range: 1.31013 – 1.31102
  • 52 wk range: 1.2361 – 1.4345

Yesterday, the bearish sentiment was observed on the GBP/USD currency pair. The decrease in quotes was more than 80 points. At the moment, the technical pattern is ambiguous. Investors expect additional drivers. Local support and resistance levels are 1.30900 and 1.31300, respectively. The positions should be opened from these marks. The trading instrument has the potential for further reduce.

Today, the publication of important news from the UK is not expected.

GBP/USD

Indicators do not send accurate signals: the price is testing 200 MA.

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

Trading recommendations
  • Support levels: 1.30900, 1.30500, 1.30100
  • Resistance levels: 1.31300, 1.31700, 1.32100

If the price fixes above 1.31300, the GBP/USD currency pair is expected to correct. The movement is tending to 1.31700-1.31900.

Alternative option. If the price fixes below the support of 1.30900, we recommend considering sales of GBP/USD. The movement is tending to 1.30500-1.30300.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30451
  • Open: 1.30708
  • % chg. over the last day: +0.18
  • Day's range: 1.30706 – 1.30784
  • 52 wk range: 1.2059 – 1.3795

Yesterday, the bullish sentiment was observed on the USD/CAD currency pair. The growth of quotes was restrained due to a weak report on core durable goods orders in the US. The indicator counted to 0.4% in June, while investors expected a value of 0.5%. At the moment, the trading instrument is moving in the range of 1.30450-1.30800. Positions should be opened from the key support and resistance 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 near the 0 mark. There are no signals.

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: 1.30450, 1.30000
  • Resistance levels: 1.30800, 1.31200, 1.31600

If the price fixes below the support level of 1.30450, we recommend considering sales of USD/CAD. The movement is tending to 1.30000-1.29800.

If the price fixes above the 1.30800 mark, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.31200-1.31400.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.974
  • Open: 111.219
  • % chg. over the last day: +0.17
  • Day`s range: 110.940 – 110.054
  • 52 wk range: 104.56 – 114.74

Yesterday, there was the bullish sentiment on the USD/JPY currency pair. At the moment, the technical pattern is ambiguous. Investors expect additional drivers. The key support and resistance are 110.900 and 111.200, 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 is testing 50 MA.

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 indicates the growth of quotes.

Trading recommendations
  • Support levels: 110.900, 110.600
  • Resistance levels: 111.200, 111.600, 112.000

If the price fixes below the already "mirror" support of 110.900, the USD/JPY currency pair is expected to decline. The movement is tending to 110.600-110.300.

Alternative option. If the price fixes above 111.200, it is necessary to consider purchases of USD/JPY. The movement is tending to 111.600-111.800.

by JustForex, 2018.07.27

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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