The Analytical Overview of the Main Currency Pairs on 2018.09.13

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16035
  • Open: 1.16251
  • % chg. over the last day: +0.16
  • Day's range: 1.16163 – 1.16429
  • 52 wk range: 1.0571 – 1.2557

The EUR/USD currency pair is consolidating. Financial market participants took a wait-and-see attitude before the ECB meeting. It is expected that the regulator will leave the key interest rates unchanged. At the moment, the local support and resistance levels are: 1.16150 and 1.16450, respectively. We recommend opening positions from these marks.

The news feed on 2018.09.13:
  • - Key interest rate decision at 14:45 (GMT+3:00);
  • - Core consumer price index in the US at 15:30 (GMT+3:00).
EUR/USD

Indicators do not send accurate signals: 50 MA has started crossing 200 MA.

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

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

Trading recommendations
  • Support levels: 1.16150, 1.16000, 1.15800
  • Resistance levels: 1.16450, 1.16850, 1.17000

If the price fixes above the resistance level of 1.16450, the EUR/USD quotes are expected to grow. The movement is tending to 1.16850-1.17000.

An alternative may be the decrease of the EUR/USD currency pair to 1.15700-1.15300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30213
  • Open: 1.30379
  • % chg. over the last day: +0.08
  • Day's range: 1.30262 – 1.30528
  • 52 wk range: 1.2361 – 1.4345

Last trading sessions, the GBP/USD currency pair is moving in flat. A unidirectional trend is not observed. Investors expect the Bank of England decision on monetary policy. It is expected that the regulator will keep the interest rate at the previous level of 0.75%. We recommend paying attention to the comments of the Central Bank representatives. At the moment, the GBP/USD quotes are consolidating in the range of 1.30000-1.30500. The positions should be opened from these marks.

At 14:00 (GMT+3:00), the Bank of England will announce its decision on the interest rate.

GBP/USD

Indicators do not send accurate signals. The price is testing 50 MA, which is a strong dynamic support.

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

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

Trading recommendations
  • Support levels: 1.30000, 1.29700, 1.29000
  • Resistance levels: 1.30500, 1.30850, 1.31000

If the price fixes above the resistance level of 1.30500, the GBP/USD quotes are expected to rise. The movement is tending to 1.31000-1.31250.

An alternative may be the decrease of the GBP/USD currency pair to 1.29700-1.29500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30654
  • Open: 1.29927
  • % chg. over the last day: -0.50
  • Day's range: 1.29926 – 1.30183
  • 52 wk range: 1.2059 – 1.3795

The USD/CAD currency pair continues to show negative dynamics. During yesterday's trading, the loonie added more than 80 points against the US dollar. Demand for the Canadian currency is at a fairly high level. At the moment, the USD/CAD currency pair is consolidating in the range of 1.29850-1.30200. The trading instrument has the potential for further reduce. Positions should be opened from the key levels.

The news feed on the economy of Canada is calm.

USD/CAD

Indicators signal 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 has started moving out the overbought zone, the %K line is below the %D line, which indicates the bearish sentiment.

Trading recommendations
  • Support levels: 1.29850, 1.29500, 1.29200
  • Resistance levels: 1.30200, 1.30500, 1.30750

If the price fixes below the local support of 1.29850, the USD/CAD quotes are expected to fall. The movement is tending to 1.29500-1.29200.

Alternative option. If the price fixes above 1.30200, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.30500-1.30750.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.590
  • Open: 111.259
  • % chg. over the last day: -0.38
  • Day's range: 111.115 – 111.508
  • 52 wk range: 104.56 – 114.74

Yesterday, the bearish sentiment prevailed on the USD/JPY currency pair. At the moment, the trading instrument is moving in flat. The technical pattern is ambiguous. The USD/JPY quotes are testing local support and resistance levels: 111.200 and 111.500, respectively. The positions should be opened from these marks. We recommend paying attention to the news feed on the US economy.

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

USD/JPY

Indicators do not send accurate signals: the price has crossed 50 MA.

The MACD histogram is located near the 0 mark.

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

Trading recommendations
  • Support levels: 111.200, 110.900, 110.700
  • Resistance levels: 111.500, 111.750, 112.000

If the price fixes above the resistance level of 111.500, the USD/JPY quotes are expected to rise. The movement is tending to 111.750-112.000.

Alternative option. If the price fixes below the level of 111.300, we recommend looking for entry points to the market to open short positions. The target movement level is 111.000-110.700.

by JustForex, 2018.09.13

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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