The Analytical Overview of the Main Currency Pairs on 2018.10.18

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.15795
  • Open: 1.15000
  • % chg. over the last day: -0.64
  • Day's range: 1.14875 – 1.15062
  • 52 wk range: 1.0571 – 1.2557

Yesterday, the EUR/USD currency pair was characterized by an aggressive sell-off. The quotes have lowered by more than 80 points. The investors warmed up towards the USD after the FOMC meeting minutes publication. At the moment the local support and resistance levels are 1.14900 and 1.15200 respectively. The positions should be opened from these levels.

The economic news feed on 18.10.2018:
  • - Philadephia Fed manufacturing index at 15:30 (GMT+3:00)
EUR/USD

The price fixed below 50 MA and 200 MA, which shows the sellers' power.

The MACD histogram is in the negative zone, but above the signal line, which shows a weak signal towards the EUR/USD sale.

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

Trading recommendations
  • Support levels: 1.14900, 1.14500
  • Resistance levels: 1.15200, 1.15500, 1.15800

If the price fixes above the resistance level 1.15200, we can expect the correction of the EUR/USD quotes. The movement tends towards 1.15500-1.15800.

Alternatively, the EUR/USD currency pair can lower towards 1.14500-1.14200.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31783
  • Open: 1.31128
  • % chg. over the last day: -0.64
  • Day's range: 1.31127 – 1.31152
  • 52 wk range: 1.2361 – 1.4345

Yesterday the GBP/USD currency pair has been showing bearish sentiment. The British pound is heavily weakened against the USD after the publication of the weak economical statistics from Great Britain. For example, the consumer price index lowered to 2.4%, while the experts expected 2.6%. At the moment, the local support and resistance levels are 1.30900 and 1.31250 respectively. Positions should be opened from these levels. The trading instrument has a potential for further decline.

Economic news feed on 18.10.2018:
  • - Retail sales statistics in the UK at 11:30 (GMT+3:00).
GBP/USD

The indicators show the sellers' power: the quotes are being traded below 50 МА and 200 МА.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal towards the GBP/USD sell-off.

The Stochastic Oscillator is in the negative zone, the %K line is above the %D line, which indicates the bullish sentiment.

Trading recommendations
  • Support levels: 1.30900, 1.30600
  • Resistance levels: 1.31250, 1.31600, 1.32000

If the price fixes above the resistance level of 1.31250, we can expect the further correction of the GBP/USD quotes. The movement tends towards 1.31600-1.31850.

Alternatively, the GBP/USD currency pair can lower towards 1.30600-1.30300.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29331
  • Open: 1.30161
  • % chg. over the last day: +0.71
  • Day's range: 1.30324 – 1.30383
  • 52 wk range: 1.2059 – 1.3795

The USD/CAD currency pair is showing an aggressive buy-out. During the yesterday’s and today’s trading, the quotes have grown by more than 100 points. At the moment, the local support and resistance levels are 1.30250 and 1.30550 respectively. Positions should be opened from these levels. The USD/CAD currency pair has a potential for further growth.

The economic news feed for Canada is calm today.

USD/CAD

The indicators show the buyers' power: the price is being traded above 50 МА and 200 МА.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal towards the purchase of USD/CAD.

The Stochastic Oscillator is in the negative zone, the %K line is below the %D line, which indicates the bearish sentiment.

Trading recommendations
  • Support levels: 1.30250, 1.29900, 1.29500
  • Resistance levels: 1.30550, 1.30800, 1.31000

If the price fixes above the resistance level 1.30550, we can expect further growth of the USD/CAD quotes. The movement will tend towards 1.30800-1.31000.

Alternatively, the price fixes below the support level of 1.30250, you have to look for the market entry points to open short positions. The price will tend towards 1.29900-1.29700.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.258
  • Open: 112.641
  • % chg. over the last day: -0.33
  • Day's range: 112.556 – 112.629
  • 52 wk range: 104.56 – 114.74

Yesterday, the USD/JPY currency pair was showing the bullish sentiment. The growth of the quotes has gone over 50 points. The trading instrument has updated the local maximums. At the moment, the “safe haven” currency is consolidating. The local support and resistance levels are 112.400 and 112.700 respectively. Positions should be opened from these levels.

Today, some ambiguous data about the Japanese trading balance was published during the Asian trading session.

USD/JPY

The indicators show the buyers' power: the USD/JPY quotes fixed above the 50 МА and 200 МА.

The MACD histogram is in the positive zone, but below the signal line, which indicates a small signal towards the purchase of USD/JPY.

The Stochastic Oscillator is in the negative zone, the %K line is above the %D line, which indicates the growth of the quotes.

Trading recommendations
  • Support levels: 112.400, 112.000, 111.700
  • Resistance levels: 112.700, 113.000, 113.300

If the price fixes above the resistance level 112.700, further growth of the USD/JPY quotes can be expected. The movement will tend towards 113.000-113.300.

Alternatively, if the price fixes below the mirror support of 112.400, we recommend looking for entry points to the market to open the short positions. The movement will tend towards 112.000-111.700.

by JustForex, 2018.10.18

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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