The Analytical Overview of the Main Currency Pairs on 2018.08.30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16942
  • Open: 1.17060
  • % chg. over the last day: +0.12
  • Day's range: 1.16965 – 1.17093
  • 52 wk range: 1.0571 – 1.2557

The bullish sentiment is still prevailing on the EUR/USD currency pair. At the same time, the growth of quotes is quite restrained. Investors expect additional drivers. At the moment, the key support and resistance levels are 1.16800 and 1.17250, respectively. We recommend opening positions from these marks. The trading instrument has the potential for further growth.

The news feed on 2018.08.30:
  • - Report on the labor market in Germany at 10:55 (GMT+3:00).
EUR/USD

Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.

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

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bearish sentiment.

Trading recommendations
  • Support levels: 1.16800, 1.16300, 1.15800
  • Resistance levels: 1.17250, 1.17600

If the price fixes above 1.17250, the EUR/USD currency pair is expected to grow. The movement is tending to 1.17600-1.17800.

Alternative option. If the price fixes below the support level of 1.16800, we recommend considering sales of EUR/USD. The movement is tending to 1.16300-1.16000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28642
  • Open: 1.30244
  • % chg. over the last day: +1.23
  • Day's range: 1.30227 – 1.30433
  • 52 wk range: 1.2361 – 1.4345

Yesterday, aggressive purchases were observed on the GBP/USD currency pair. The growth of quotes exceeded 150 points. The British pound is growing after the statements by the EU chief Brexit negotiator, Barnier. According to the official, the European Union is ready to offer Britain a "unique" deal after its exit from the union. At the moment, the key support and resistance levels are 1.30000 and 1.30450, respectively. The positions should be opened from these marks.

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

GBP/USD

Indicators point to the power of buyers: the price is being traded above 50 MA and 200 MA.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy 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: 1.30000, 1.29600, 1.29100
  • Resistance levels: 1.30450, 1.30800

If the price fixes above 1.30450, further growth of the GBP/USD currency pair is expected. The target movement level is 1.30800-1.31000.

Alternative option. If the price fixes below the round level of 1.30000, we recommend considering sales of GBP/USD. The target movement level is 1.29600-1.29400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29257
  • Open: 1.29077
  • % chg. over the last day: -0.20
  • Day's range: 1.29067 – 1.29202
  • 52 wk range: 1.2059 – 1.3795

There is a variety of trends on the USD/CAD currency pair. Investors expect statistics on Canada GDP. At the moment, the key support and resistance levels are 1.29000 and 1.29300, respectively. The positions should be opened from these marks. We recommend monitoring current information regarding NAFTA negotiations.

The news feed on 2018.08.30:
  • - Data on Canada GDP at 15:30 (GMT+3:00).
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 below the %D line, which indicates the bearish sentiment.

Trading recommendations
  • Support levels: 1.29000, 1.28600
  • Resistance levels: 1.29300, 1.29600, 1.30000

If the price fixes below the round level of 1.29000, the USD/CAD quotes are expected to decline. The movement is tending to 1.28600-1.28400.

Alternative option. If the price fixes above the resistance level of 1.29300, it is necessary to consider purchases of USD/CAD. The movement is tending to 1.29600-1.29800.

The USD/JPY currency pair:

Technical indicators of the currency pair:
  • Prev Open: 111.190
  • Open: 111.691
  • % chg. over the last day: +0.45
  • Day's range: 111.581 – 111.687
  • 52 wk range: 104.56 – 114.74

Yesterday, the bullish sentiment was observed on the USD/JPY currency pair. At the moment, quotes are moving in flat. Local support and resistance levels are 111.500 and 111.750, respectively. The positions should be opened from these marks. Investors expect additional drivers. The trading instrument has the potential for further growth.

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

USD/JPY

Indicators point to the power of buyers: the price has fixed above 50 MA and 200 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 below the %D line, which indicates a fall in the USD/JPY quotes.

Trading recommendations
  • Support levels: 111.500, 111.200, 110.850
  • Resistance levels: 111.750, 112.000

If the price fixes above the resistance level of 111.750, it is necessary to consider purchases of USD/JPY. The movement is tending to 112.000-112.300.

Alternative option. If the price fixes below 111.500, the USD/JPY currency pair is expected to decline. The movement is tending to 111.200-110.000.

by JustForex, 2018.08.30

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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