The Analytical Overview of the Main Currency Pairs on 2017.08.15

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.18221
  • Open: 1.17782
  • % chg. over the last day: -0.41
  • Day's range: 1.17203 – 1.17926
  • 52 wk range: 1.0339 – 1.1909

At the moment, the bearish sentiment prevails on the EUR/USD currency pair. The pressure on the euro is put by weak statistics on the volume of industrial production in the Eurozone and the slowdown in GDP growth in Germany in the second quarter. The price reached the key support of 1.17250. We expect economic reports from the United States.

At 15:30 (GMT+3:00) statistics on the volume of retail sales in the US will be released.

EUR/USD

Indicators point to the power of sellers. The price is below 50 MA and 200 MA.

The MACD histogram is located in the negative zone and continues to decline, which signals a fall in EUR/USD.

Stochastic Oscillator has reached the oversold zone, the %K line is below the %D line, which gives a weak signal to sell EUR/USD.

Trading recommendations
  • Support levels: 1.17250, 1.17000
  • Resistance levels: 1.17850, 1.18400

If the statistics from the US is positive, we recommend considering selling EUR/USD. The movement is tending to 1.17000-1.16750.

An alternative may be the correction of the EUR/USD quotations to the level of 1.17850.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29793
  • Open: 1.29573
  • % chg. over the last day: -0.30
  • Day's range: 1.29380 – 1.29695
  • 52 wk range: 1.1450 – 1.3447

The power of sellers is observed on the GBP/USD currency pair. The price overcame a key mark of 1.29600, which is already a "mirror" resistance. Nevertheless, positions need to be opened from the key levels. At the moment, investors have adopted a wait-and-see attitude before the publication of the report on inflation in the UK. We also recommend paying attention to the US news line.

At 11:30 (GMT+3:00) the data on the consumer price index in the UK will be published.

GBP/USD

Indicators point to a bearish sentiment. The GBP/USD quotes have fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone and below the signal line, which indicates a fall in GBP/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which also gives a signal to sell GBP/USD.

Trading recommendations
  • Support levels: 1.29000
  • Resistance levels: 1.29600, 1.30250

If the statistics from the UK turns out to be weak, you need to look for entry points to the market to open short positions. The target movement level is 1.29000-1.28750.

An alternative may be the growth of the currency pair to 1.30000-1.30250.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26653
  • Open: 1.27154
  • % chg. over the last day: +0.44
  • Day's range: 1.27138 – 1.27533
  • 52 wk range: 1.2414 – 1.3795

Yesterday, purchases prevailed on USD/CAD. The Canadian dollar weakened against the US dollar by more than 60 points. At the moment, the currency is testing a key resistance of 1.27500. The nearest support is at the round level of 1.27000. The Canadian dollar is pressed by a sharp drop in the price of "black gold". Today, the report on retail sales in the United States is at the center of attention.

The news background on Canada's economy is calm.

USD/CAD

The USD/CAD quotes have 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 indicates a bullish sentiment on USD/CAD.

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

Trading recommendations
  • Support levels: 1.27000, 1.26600
  • Resistance levels: 1.27500

If the statistics from the US is positive, further growth of the USD/CAD currency pair is possible. The movement is tending to the round level of 1.28000.

Alternatively, USD/CAD may drop to the level of 1.27000-1.26750.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.114
  • Open: 109.621
  • % chg. over the last day: +0.63
  • Day's range: 109.604 – 110.476
  • 52 wk range: 99.53 – 118.67

At the moment, there are aggressive purchases on the USD/JPY currency pair. There are no updates about the conflict on the Korean peninsula, what caused a drop in demand for safe currencies. Support for the US currency is provided by the recovery of the US government bonds yield. We are waiting for statistics from the USA.

The news background on the economy of Japan is calm today.

USD/JPY

The price is above 50 MA and 200 MA, which signals the power of buyers.

The MACD histogram is located in the positive zone and above the signal line, which indicates a bullish sentiment on USD/JPY.

Stochastic Oscillator has fixed in the neutral zone, the %K line is below the %D line, which gives the signal to sell USD/JPY.

Trading recommendations
  • Support levels: 110.100, 109.750
  • Resistance levels: 110.750, 111.000

If economic reports from the US are positive, the growth of the USD/JPY currency pair may continue. The movement is tending to the offer zone of 110.750-111.000.

Alternatively, USD/JPY may drop to the support level of 109.750.

by JustForex, 2017.08.15

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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.