The analytical overview of the main currency pairs on 2017.11.15

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16665
  • Open: 1.17961
  • % chg over the last day: +1.06
  • Days range: 1.17848 – 1.18303
  • 52 wk range: 1.0341 – 1.2069

Yesterday there were aggressive purchases on the EUR/USD currency pair. The growth of quotes exceeded 1%. The trading instrument reached a round level of 1.18000. The single currency was supported by optimistic data on German GDP. Negative dynamics of the US government bonds yield also contributed to the growth of the EUR/USD quotes. At the moment, the key trading range is 1.17850-1.18300. We recommend opening positions from these marks.

Today the attention is focused on economic reports from the United States. At 15:30 (GMT+2:00) the data on the inflation and retail sales will be released. We also recommend you to monitor the current information on the tax reform in the US.

EUR/USD

Indicators point to the power of buyers. The price has fixed above 50 MA and 200 MA.

The MACD histogram is in the positive zone and continues to rise, which signals an increase in EUR/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also signals the purchase of EUR/USD.

Trading recommendations
  • Support levels: 1.17850, 1.17400, 1.16750
  • Resistance levels: 1.18300, 1.19000

If the price fixes above the local resistance of 1.18300, we recommend considering buying EUR/USD. The target movement level is 1.18750-1.19000.

Alternative option. If the statistics from the US is positive, a correction may develop on the EUR/USD currency pair. The movement is tending potentially to 1.17500-1.17250.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31132
  • Open: 1.31643
  • % chg over the last day: +0.31
  • Days range: 1.31306 – 1.31874
  • 52 wk range: 1.1450 – 1.3618

Yesterday's trades on GBP/USD were quite active. The Office for National Statistics reported that in October consumer prices in the country increased by 3.0% (year-on-year). Experts expected the indicator at the level of 3.1%. At the moment, bullish sentiment prevails on GBP/USD. Nevertheless, positions should be opened from key levels. We are waiting for important statistics from the UK. The key trading range is 1.31250-1.31750.

At 11:30 (GMT+2:00) a report on the labor market in the UK will be published.

GBP/USD

Indicators point to the power of buyers. The price has fixed above 50 MA and 200 MA.

The MACD histogram is in the positive zone and continues to rise, indicating the growth of the GBP/USD currency pair.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also signals the purchase of GBP/USD.

Trading recommendations
  • Support levels: 1.31250, 1.30850
  • Resistance levels: 1.31750, 1.32200, 1.32800

If the statistics from the UK is positive, we expect further growth of GBP/USD. The movement is tending potentially to 1.32200-1.32800.

An alternative may be the reduce of the GBP/USD currency pair to the level of 1.31250-1.30850.

When tracking the positions, we recommend using a trailing stop.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27303
  • Open: 1.27298
  • % chg over the last day: -0.04
  • Days range: 1.27141 – 1.27524
  • 52 wk range: 1.2059 – 1.3795

Yesterday's trades on USD/CAD were very active. However, an unidirectional trend was not observed. At the moment, the technical pattern is ambiguous. The trading instrument is in a sideways trend. The key support and resistance levels are 1.27100 and 1.27500, respectively. Investors expect additional drivers. We recommend paying attention to the news background on the US economy.

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

USD/CAD

Indicators do not send accurate signals. The price crossed 50 MA and 200 MA.

The MACD histogram is located near the 0 mark.

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

Trading recommendations
  • Support levels: 1.27100, 1.26700
  • Resistance levels: 1.27500, 1.28000

If the statistics from the US turns out to be weak, we recommend considering selling USD/CAD. The movement is tending potentially to 1.26700-1.26500.

An alternative may be the growth of the USD/CAD quotes to the level of 1.27800-1.28000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.624
  • Open: 113.446
  • % chg over the last day: -0.18
  • Days range: 112.767 – 113.496
  • 52 wk range: 99.53 – 118.67

At the moment, there are aggressive sales on USD/JPY. The trading instrument formed a local support level of 112.800. The 113.150 mark is already a "mirror" resistance. The USD/JPY currency pair has the potential to further decrease. We recommend you to pay attention to the economic reports and the US government bonds yield.

Japan reported that the country's economic growth slowed from 2.6% (year on year) to 1.4% in the third quarter. Market expectations were at the level of 1.3%.

USD/JPY

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 and below the signal line, which signals the sale of USD/JPY.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which also signals a fall in USD/JPY.

Trading recommendations
  • Support levels: 112.800, 112.500
  • Resistance levels: 113.150, 113.500

If the price fixes below the local support of 112.800, we recommend looking for entry points to the market to open short positions. The target movement level is 112.500-112.250. When tracking positions, one should use a trailing stop.

by JustForex, 2017.11.15

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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.