The Analytical Overview of the Main Currency Pairs on 2018.08.21

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.14375
  • Open: 1.14808
  • % chg. over the last day: +0.47
  • Day's range: 1.15111 – 1.15170
  • 52 wk range: 1.0571 – 1.2557

Yesterday, the bullish sentiment was observed on the EUR/USD currency pair. The growth of quotes was almost 100 points. Today, the US currency has continued to lose ground. At the moment, the key support and resistance levels are 1.14900 and 1.15300, respectively. We recommend opening positions from these marks. The trading instrument has the potential for further growth. Trade negotiations between the US and China are in the focus of attention.

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

EUR/USD

The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.

The MACD histogram is located in the positive zone, above the signal line, which gives a strong signal to buy EUR/USD.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a decrease in quotes.

Trading recommendations
  • Support levels: 1.14900, 1.14400, 1.14000
  • Resistance levels: 1.15300, 1.15700, 1.16100

If the price fixes above the resistance level of 1.15300, further growth of the EUR/USD currency pair is expected. The movement is tending to 1.15700-1.15900.

Alternative option. If the price fixes below 1.14900, we recommend considering sales of EUR/USD. The movement is tending to 1.14500-1.14300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27423
  • Open: 1.27944
  • % chg. over the last day: +0.46
  • Day's range: 1.28238 – 1.28323
  • 52 wk range: 1.2361 – 1.4345

There is an upward trend on the GBP/USD currency pair. During yesterday's and today's trading sessions, the growth of quotes has exceeded 100 points. At the moment, the local support and resistance levels are 1.28100 and 1.28400, respectively. The positions should be opened from these marks. Investors expect current news regarding Brexit.

The news feed on the UK economy is calm.

GBP/USD

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 gives a strong signal to buy GBP/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which signals to sell GBP/USD.

Trading recommendations
  • Support levels: 1.28100, 1.27700, 1.27200
  • Resistance levels: 1.28400, 1.28800, 1.29150

If the price fixes above 1.28400, further growth of the GBP/USD currency pair is expected. The target movement level is 1.28800-1.29150.

Alternatively, the GBP/USD quotes may decline to the level of 1.27700-1.27500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30598
  • Open: 1.30437
  • % chg. over the last day: -0.14
  • Day's range: 1.30232 – 1.30351
  • 52 wk range: 1.2059 – 1.3795

Yesterday, there were sales on the USD/CAD currency pair. The decrease in quotes exceeded 70 points. At the moment, financial market participants expect additional drivers. Local support and resistance levels are 1.30200 and 1.30450, respectively. We recommend opening positions from these marks. The trading instrument has the potential for further reduce.

Publication of important news is not expected in Canada.

USD/CAD

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

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

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates the USD/CAD quotes growth.

Trading recommendations
  • Support levels: 1.30200, 1.30000
  • Resistance levels: 1.30450, 1.30700, 1.31000

If the price fixes below 1.30200, the USD/CAD quotes are expected to decline. The movement is tending to 1.30000-1.29700.

Alternative option. If the price fixes above the resistance of 1.30450, it is necessary to consider purchases of USD/CAD. The movement is tending to 1.30700-1.31000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.593
  • Open: 110.063
  • % chg. over the last day: -0.48
  • Day`s range: 110.030 – 110.101
  • 52 wk range: 104.56 – 114.74

Yesterday, the bearish sentiment prevailed on the USD/JPY currency pair. The decrease in quotes exceeded 80 points. At the moment, local support and resistance levels are 110.000 and 110.300, respectively. The positions should be opened from these marks. Financial market participants expect additional drivers. We recommend paying attention to the 10-year US government bonds yield.

The news feed on the economy of Japan is calm.

USD/JPY

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

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

Stochastic Oscillator is located near the overbought zone, the %K line is crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 110.000, 109.750
  • Resistance levels: 110.300, 110.600, 110.900

If the price fixes above the resistance level of 110.300, the growth of the USD/JPY currency pair is expected. The movement is tending to 110.600-110.800.

Alternative option. If the price fixes below the round level of 110.000, it is necessary to consider sales of USD/JPY. The movement is tending to 109.750-109.500.

by JustForex, 2018.08.21

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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