The Analytical Overview of the Main Currency Pairs on 2018.08.13

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.15260
  • Open: 1.13721
  • % chg. over the last day: -1.01
  • Day's range: 1.13650 – 1.14117
  • 52 wk range: 1.0571 – 1.2557

Last week, aggressive sales were observed on the EUR/USD currency pair. The euro has overcome the key mark of 1.14000. Investors continue to assess the risks for the European banking system due to a significant weakening of the Turkish lira. At the moment, the EUR/USD quotes are consolidating. Local support and resistance levels are 1.13650 and 1.14100. We recommend opening positions from these marks.

Today, the news feed is calm. The publication of important economic reports is not planned.

EUR/USD

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

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 is above the %D line, which indicates a possible correction.

Trading recommendations
  • Support levels: 1.13650, 1.13250, 1.13000
  • Resistance levels: 1.14100, 1.14700, 1.15350

If the price fixes below the support level of 1.13650, it is necessary to look for entry points to the market to open short positions. The movement is tending to 1.13250-1.13000.

Alternative option. If the price fixes above 1.14100, a correction of the EUR/USD currency pair is expected. The movement is tending to 1.14500-1.14700.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28240
  • Open: 1.27406
  • % chg. over the last day: -0.43
  • Day's range: 1.27405 – 1.27795
  • 52 wk range: 1.2361 – 1.4345

At the moment, the GBP/USD currency pair is consolidating after a prolonged fall. The technical pattern is ambiguous. Quotes are testing local support and resistance levels: 1.27350 and 1.27800, respectively. Investors expect new information regarding Brexit. In the near future, a technical correction is not ruled out. Positions should be opened from the key levels.

The news feed on the UK economy is calm.

GBP/USD

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

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 crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.27350, 1.27000
  • Resistance levels: 1.27800, 1.28200, 1.28500

If the price fixes below 1.27350, the GBP/USD quotes are expected to fall. The immediate goal for profit taking is a round level of 1.27000.

Alternative option. If the price fixes above the resistance level of 1.27800, correction movement is expected. The movement is tending to 1.28200-1.28500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30494
  • Open: 1.31601
  • % chg. over the last day: +0.73
  • Day's range: 1.31371 – 1.31665
  • 52 wk range: 1.2059 – 1.3795

The bullish sentiment continues to prevail on the USD/CAD currency pair. On Friday, August 10, the growth of quotes exceeded 100 points. At the moment, the trading instrument is testing monthly highs. The key range is 1.31350-1.31650. The USD/CAD currency pair has the potential for further growth. We recommend opening positions from the key levels.

The publication of important economic reports from Canada is not planned.

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 is below the %D line, which indicates the USD/CAD correction.

Trading recommendations
  • Support levels: 1.31350, 1.30750, 1.30300
  • Resistance levels: 1.31650, 1.32000

If the price fixes above the resistance level of 1.31650, the USD/CAD quotes are expected to grow. The movement is tending to 1.32000-1.32250.

Alternative option. If the price fixes below 1.31350, it is necessary to consider sales of USD/CAD. The movement is tending to 1.31000-1.30750.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.005
  • Open: 110.429
  • % chg. over the last day: -0.13
  • Day`s range: 110.109 – 110.751
  • 52 wk range: 104.56 – 114.74

Sales are prevailing on the USD/JPY currency pair. The demand for safe assets grew due to political tension between the US and Turkey. At the moment, the USD/JPY quotes are testing local support of 110.150. The 110.500 mark is already a "mirror" resistance. The trading instrument has the potential for further reduce. We recommend opening positions from the key levels.

The news feed on the economy of Japan is calm.

USD/JPY

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

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

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which gives a signal to buy USD/JPY.

Trading recommendations
  • Support levels: 110.150, 110.000, 109.500
  • Resistance levels: 110.500, 110.750, 111.150

If the price fixes below the level of 110.150, it is necessary to look for entry points to the market to open short positions. The movement is tending to 109.750-109.500.

Alternative option. If the price fixes above the level of 110.500, the USD/JPY currency pair is expected to grow. The movement is tending to the round level of 111.000.

by JustForex, 2018.08.13

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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