The Analytical Overview of the Main Currency Pairs on 2018.10.22

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.14521
  • Open: 1.15163
  • % chg. over the last day: +0.54
  • Day's range: 1.15382 – 1.15502
  • 52 wk range: 1.0571 – 1.2557

On Friday, the EUR/USD currency pair was showing a bullish sentiment. The USD is under pressure due to the report on existing home sales, which counted to 5.15M in September instead of the expected 5.30. Currently, the key support and resistance levels are 1.15100 and 1.15500 respectively. You should open positions from these levels. The investors are waiting for the ECB meeting on Thursday, October 25.

The economic news feed for the EU and US is calm today.

EUR/USD

Indicators do not provide accurate signals: the price is over 200 МА.

The MACD histogram is in the positive zone, higher than the signal line, which gives a weak signal towards a purchase of the EUR/USD.

The Stochastic Oscillator is in the overbought zone, the %K line is higher than the %D line, which gives a weak signal towards a purchase of the EUR/USD.

Trading recommendations
  • Support levels: 1.15100, 1.14700, 1.4400
  • Resistance levels: 1.15550, 1.15900, 1.16200

If the price fixes above the support level of 1.15100, EUR/USD is expected to decline. The movement is tending to 1.14700-1.4400.

Alternatively, the EUR/USD currency pair can grow towards 1.15900-1.16200.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30171
  • Open: 1.30660
  • % chg. over the last day: -0.74
  • Day's range: 11.30749 – 1.30860
  • 52 wk range: 1.2361 – 1.4345

The GBP/USD started to recover. At the moment, the key support and resistance levels are 1.30500 and 1.31000 respectively. Positions should be opened from these levels. The investor's attention is focused on the Brexit issue. A technical correction is not excluded in the near future.

The news feed on the UK economy is calm.

GBP/USD

The price fixes between 50 MA and 200 MA, which represent dynamic levels of support and resistance.

The MACD histogram is in the positive zone, higher than the signal line, which gives a strong signal towards a purchase of GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is over the %D line. There are no precise signals.

Trading recommendations
  • Support levels: 1.30500, 1.30200
  • Resistance levels: 1.31000, 1.31400, 1.31800

If the price fixes above the support level of 1.30500, the GBP/USD quotes are expected to decline. The movement is tending to 1.30200-1.30000.

Alternatively, the currency pair may grow towards 1.31400-1.31600.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30833
  • Open: 1.30894
  • % chg. over the last day: +0.10
  • Day's range: 1.30828 – 1.30845
  • 52 wk range: 1.2059 – 1.3795

On Friday, the USD/CAD currency pair was showing an aggressive buyout. The Canadian dollar is weakened against the USD after a publication of the weak economic stats. For example, the core consumer price index lowered to 1.5% year-to-year in September. The core retail sales index lowered in September to -0.4%, while the experts predicted the growth up to 0.2%. At the moment, the technical data is highly ambiguous. The local support and resistance levels are 1.30700 and 1.31100 respectively. Positions should be opened from these levels.

The economic news feed for Canada is calm today.

USD/CAD

The price is above the 50 МА and 200 МА, which indicates the buyers' power.

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

The Stochastic Oscillator is near the oversold zone, the %K line has crossed the %D line. There are no precise signals.

Trading recommendations
  • Support levels: 1.30700, 1.30300, 1.30000
  • Resistance levels: 1.31100, 1.31400

If the price fixes below the local support level of 1.30700, it is necessary to look for entry points to the market to open short positions. The movement is tending to 1.30300-1.30000.

Alternatively, if the price fixes above the support level of 1.31100, further growth of the USD/CAD quotes is expected. The movement will tend to 1.31400-1.31600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.767
  • Open: 112.562
  • % chg. over the last day: +0.32
  • Day's range: 112.690 – 112.760
  • 52 wk range: 104.56 – 114.74

The USD/JPY currency pair is showing a variety of trends. The investors are waiting for the additional drivers. At the moment, the local support and resistance levels are 112.500 and 112.800 respectively. Positions should be opened from these levels. We recommend you keep an eye on the US government bonds yield.

The economic news feed for Japan is calm.

USD/JPY

The indicators are showing the buyers' power: the price fixed above the 50 MA and 200 MA.

The MACD histogram is in the positive zone and higher than the signal line, which gives a strong signal towards the purchase of USD/JPY.

The Stochastic Oscillator is in the overbought zone, the %K line is over the %D line. There are no price signals.

Trading recommendations
  • Support levels: 112.500, 112.300, 112.000
  • Resistance levels: 112.800, 113.250

If the price fixes above the support level of 112.800, further growth of the USD/JPY quotes is expected. The movement is tending to 113.200-113.400.

Alternatively, if the price fixes below 112.500, we recommend looking for entry points to the market to open short positions. The movement is tending to 112.200-112.000.

by JustForex, 2018.10.22

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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