The Analytical Overview of the Main Currency Pairs on 2017.11.21

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.17859
  • Open: 1.17329
  • % chg. over the last day: +0.03
  • Day's range: 1.17302 – 1.17496
  • 52 wk range: 1.0341 – 1.2069

The single currency remains under pressure due to the growth of political risks in Germany. At the moment, the technical pattern on EUR/USD is ambiguous. The trading instrument is consolidating. The key support and resistance levels are 1.17250 and 1.17600, respectively. We recommend you to open positions from these marks. It is necessary to pay attention to the US government bonds yield.

The news feed on 2017.11.21:

At 17:00 (GMT+2:00) a report on the real estate market in the United States will be published.

EUR/USD

The indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA, which are quite strong dynamic levels of support and resistance.

The MACD histogram is located in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.

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

Trading recommendations
  • Support levels: 1.17250, 1.16750
  • Resistance levels: 1.17600, 1.18000, 1.18500

If the price fixes below the support level of 1.17250, we recommend considering sales of EUR/USD. The movement is tending to 1.16750.

Alternative option. If the price fixes above 1.17600, you need to look for entry points to the market to open long positions. The immediate goal for profit taking is the round level of 1.18000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32154
  • Open: 1.32316
  • % chg. over the last day: +0.33
  • Day's range: 1.32316 – 1.32674
  • 52 wk range: 1.1450 – 1.3618

The bullish sentiment still prevails on the GBP/USD currency pair. At the moment, the price is testing a key resistance of 1.32600. The further growth of the GBP/USD quotations is not excluded. In the trading instrument, a classical figure of the technical analysis, Triangle, was formed, which quite often acts as a form of continuation of the current trend. However, we recommend you to open positions from the key levels. It is necessary to pay attention to the news feed from the USA.

At 12:00 (GMT+2:00) the hearing of the report on inflation in the UK will take place.

GBP/USD

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

The MACD histogram is located in the positive zone and continues to rise, which indicates the growth of GBP/USD.

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

Trading recommendations
  • Support levels: 1.32200, 1.31750, 1.31350
  • Resistance levels: 1.32600, 1.33000

If the price fixes above 1.32600, we recommend considering buying GBP/USD. The movement is tending to the round level of 1.33000.

Alternative option. If the statistics from the US is positive, sales on the GBP/USD currency pair may prevail. The target movement level is 1.32200-1.32000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27645
  • Open: 1.28191
  • % chg. over the last day: +0.15
  • Day's range: 1.28015 – 1.28365
  • 52 wk range: 1.2059 – 1.3795

At the moment, purchases prevail on USD/CAD. The price is testing the key offer zone of 1.28200-1.28350. The mark 1.27850 is already a "mirror" support. The trading instrument has the potential for further growth. We recommend you to pay attention to the economic reports and the US government bonds yield.

At 15:30 (GMT+2:00) the data on the volume of wholesale sales in Canada will be released.

USD/CAD

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

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

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also gives a signal to buy USD/CAD.

Trading recommendations
  • Support levels: 1.27850, 1.27600, 1.27250
  • Resistance levels: 1.28350, 1.29000

If the price fixes above the resistance level of 1.28350, you need to look for entry points to the market to open long positions. The movement is tending to 1.28750-1.29000. When tracking positions, one should use a trailing stop.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.120
  • Open: 112.611
  • % chg. over the last day: +0.47
  • Day's range: 112.433 – 112.704
  • 52 wk range: 99.53 – 118.67

Yesterday, a correction movement was observed on the USD/JPY currency pair. The yen weakened against the US dollar by more than 60 points. At the moment, the price is testing a "mirror" resistance level of 112.600. The further growth of the USD/JPY quotations is not excluded. Participants of the financial markets expect statistics on the real estate market in the US.

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

USD/JPY

The signals of the indicators are ambiguous. The price has fixed between 50 MA and 200 MA, which are quite strong dynamic levels of support and resistance.

The MACD histogram is located in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the growth of the USD/JPY currency pair.

Trading recommendations
  • Support levels: 112.200
  • Resistance levels: 112.600, 113.100

If the price fixes above 112.600, we expect further growth of USD/JPY. The movement is tending to 113.000-113.100.

Alternative option. If the statistics from the US turns out to be weak, the bearish sentiment may prevail on the USD/JPY currency pair. The target level of movement is 112.200-112.000.

by JustForex, 2017.11.21

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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