The Analytical Overview of the Main Currency Pairs on 2018.10.30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13992
  • Open: 1.13724
  • % chg. over the last day: -0.14
  • Day's range: 1.13604 – 1.13686
  • 52 wk range: 1.1299 – 1.2557

The technical pattern on the EUR/USD currency pair is ambiguous. The euro is still under pressure against the political instability. At the moment, the EUR/USD quotes are consolidating. Local support and resistance levels are: 1.13500 and 1.13800, respectively. Positions should be opened from these marks. In the near future, correction of the trading instrument is not excluded. We expect important economic reports.

The news feed on 30.10.2018:
  • - Report on the labor market in Germany at 10:55 (GMT+2:00);
  • - Consumer confidence index in the US at 16:00 (GMT+2:00).
EUR/USD

The price has fixed below 50 MA and 200 MA, which indicates the bearish sentiment.

The MACD histogram is in the negative zone and continues to decline, which gives a signal to sell EUR/USD.

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

Trading recommendations
  • Support levels: 1.13500, 1.13300, 1.13000
  • Resistance levels: 1.13800, 1.14300, 1.14700

If the price fixes below the local support level of 1.13500, a further fall in the EUR/USD quotes is expected. The movement is tending to 1.13250-1.13000.

Alternative option. If the price fixes above the resistance of 1.13800, it is necessary to look for entry points to the market to open long positions. The movement is tending to 1.14300-1.14500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28274
  • Open: 1.27968
  • % chg. over the last day: -0.23
  • Day's range: 1.27557 – 1.27817
  • 52 wk range: 1.2662 – 1.4378

The GBP/USD currency pair is in a sideways trend. At the moment, the local support and resistance levels are: 1.27600 and 1.28000, respectively. Investors expect new information regarding the Brexit process. We recommend opening positions from the key levels. In the near future, technical correction is not excluded.

The news feed on the UK economy is calm.

GBP/USD

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, below the signal line, which gives a strong signal to sell GBP/USD.

The 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: 1.27600, 1.27300
  • Resistance levels: 1.28000, 1.28400, 1.28800

If the price fixes below the support of 1.27600, a further fall in the GBP/USD currency pair is expected. The movement is tending to 1.27300-1.27000.

Alternative option. If the price fixes above the round level of 1.28000, it is necessary to consider purchases of GBP/USD. The movement is tending to 1.28400-1.28600.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30958
  • Open: 1.31303
  • % chg. over the last day: +0.24
  • Day's range: 1.31055 – 1.31153
  • 52 wk range: 1.2248 – 1.3387

At the moment, the technical picture on the USD/CAD currency pair is ambiguous. The trading instrument is in a sideways trend. Investors expect additional drivers. Local support and resistance levels are: 1.30900 and 1.31250, respectively. Positions should be opened from these marks.

Today, the news feed on the economy of Canada is calm. We recommend paying attention to the speech by the Bank of Canada governor Poloz.

USD/CAD

Indicators do not send accurate signals: the price is testing 50 MA.

The MACD histogram is near the 0 mark.

The stochastic oscillator is in the neutral zone, the %K line is crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.30900, 1.30500, 1.30100
  • Resistance levels: 1.31250, 1.31600

If the price fixes above the level of 1.31250, the USD/CAD quotes growth is expected. The movement is tending to 1.31600-1.31800.

An alternative may be the decrease of the USD/CAD currency pair to 1.30500-1.30300.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.862
  • Open: 112.355
  • % chg. over the last day: +0.35
  • Day's range: 112.755 – 112.839
  • 52 wk range: 104.56 – 114.74

Aggressive purchases are observed on the USD/JPY currency pair. During yesterday's and today's trading sessions, the quotes growth exceeded 100 points. The trading instrument has updated local highs. At the moment, the key support and resistance levels are: 112.600 and 112.900, respectively. Positions should be opened from these marks. We recommend paying attention to the news feed on the US economy.

Publication of important economic reports from Japan is not planned.

USD/JPY

The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.

The MACD histogram is in the positive zone, above the signal line, which gives a strong signal to buy USD/JPY.

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

Trading recommendations
  • Support levels: 112.600, 112.250, 112.000
  • Resistance levels: 112.900, 113.200

If the price fixes below the support level of 112.600, correction of the USD/JPY quotes is expected. The movement is tending to 112.250-112.000.

An alternative may be the further growth of the USD/JPY currency pair to 113.200-113.500.

by JustForex, 2018.10.30

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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