The Analytical Overview of the Main Currency Pairs on 2018.09.11

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.15490
  • Open: 1.15913
  • % chg. over the last day: +0.29
  • Day's range: 1.15776 – 1.16288
  • 52 wk range: 1.0571 – 1.2557

The EUR/USD currency pair has started growing. Yesterday, the growth of quotes exceeded 50 points. Today, the euro has continued to strengthen against the US dollar. At the moment, local support and resistance levels are 1.16050 and 1.16300, respectively. The potential for growth remains. We recommend opening positions from the key levels.

The news feed on 2018.09.11:
  • - ZEW economic sentiment index in Germany at 12:00 (GMT+3:00);
  • - JOLTS job openings at 17:00 (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 in the positive zone and continues to rise, which signals the bullish sentiment.

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

Trading recommendations
  • Support levels: 1.16050, 1.15800, 1.15650
  • Resistance levels: 1.16300, 1.16500, 1.16900

If the price fixes above 1.16300, further growth of the EUR/USD currency pair is expected. The movement is tending to 1.16500-1.16800.

Alternatively, the EUR/USD quotes may decline to the local demand zone of 1.15650-1.15800.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29205
  • Open: 1.30236
  • % chg. over the last day: +0.77
  • Day's range: 1.30222 – 1.30874
  • 52 wk range: 1.2361 – 1.4345

Yesterday, aggressive purchases of GBP/USD were observed. Demand for the pound has significantly increased after the statements by the European Union's chief Brexit negotiator. The official said that in the near future, the parties can reach a mutually beneficial agreement. At the moment, the GBP/USD currency pair is consolidating in the range of 1.30400-1.30850. The potential for growth remains. Positions should be opened from the key levels.

At 11:30 (GMT+3:00) investors will assess a report on the labor market in the UK.

GBP/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 and continues to rise, indicating the bullish sentiment.

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

Trading recommendations
  • Support levels: 1.30400, 1.30000, 1.29700
  • Resistance levels: 1.30850, 1.31000

If the price fixes above the local resistance of 1.30850, further growth of the GBP/USD quotes is expected. The movement is tending to 1.31250-1.31500.

Alternative option. If the price fixes below 1.30400, we recommend looking for entry points to the market to open short positions. The movement is tending to the round level of 1.30000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31566
  • Open: 1.31555
  • % chg. over the last day: -0.07
  • Day's range: 1.31312 – 1.31735
  • 52 wk range: 1.2059 – 1.3795

The USD/CAD currency pair has started declining. At the moment, the key support and resistance levels are: 1.31200 and 1.31600, respectively. The USD/CAD quotes have the potential for further correction. Positions should be opened from the key levels. We recommend paying attention to the dynamics of oil quotes.

The news feed on the economy of Canada is quite calm. At 15:30 (GMT+3:00) data on housing starts will be published.

USD/CAD

The price has fixed between 50 MA and 200 MA, which are strong dynamic support and resistance levels.

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

Stochastic Oscillator is located in the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.31200, 1.30700, 1.30250
  • Resistance levels: 1.31600, 1.32000, 1.32250

If the price fixes below the support level of 1.31200, the correction of the USD/CAD currency pair is expected. The movement is tending to 1.30800-1.30600.

Alternative option. If the price fixes above 1.31600, it is necessary to consider purchases of USD/CAD. The target level for profit-taking is 1.32000-1.32250.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.042
  • Open: 111.099
  • % chg. over the last day: +0.19
  • Day's range: 111.059 – 111.544
  • 52 wk range: 104.56 – 114.74

The USD/JPY quotes show positive dynamics. At the moment, the USD/JPY currency pair is testing the key resistance of 111.550. The mark of 111.350 is local support. The trading instrument has the potential for further growth. We recommend monitoring current information regarding the trade conflict between the US and China. Positions should be opened from the key levels.

Today, 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 located in the positive zone and above the signal line, which gives a strong signal to buy USD/JPY.

Stochastic Oscillator is near the overbought zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 111.350, 111.200, 110.900
  • Resistance levels: 111.550, 111.750, 112.000

If the price fixes above the resistance level of 111.550, further growth of the USD/JPY quotes is expected. The movement is tending to 111.750-112.000.

An alternative may be the decrease of the USD/JPY currency pair to 111.200-111.000.

by JustForex, 2018.09.11

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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