The Analytical Overview of the Main Currency Pairs on 2018.01.26

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.24088
  • Open: 1.23921
  • % chg. over the last day: -0.14
  • Day's range: 1.24726 – 1.24836
  • 52 wk range: 1.0492 – 1.2296

The ECB held a meeting on monetary policy yesterday. As Draghi said, the regulator intends to keep the stimulation volume and the current monetary policy unchanged. During yesterday's trading, the EUR/USD currency pair updated its three-year high. At the moment, the technical pattern is ambiguous. At the moment, the EUR/USD currency pair is being traded in the range of 1.24200-1.24900. Positions must be opened from the key levels.

The news feed on 2018.01.26:

  • - Data on durable goods orders in the US at 15:30 (GMT+2:00);
    - The US GDP statistics at 15:30 (GMT+2:00).
EUR/USD

The signals of the indicators are different. The price has fixed above 50 MA and 200 MA, which indicates a bullish sentiment.

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

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

Trading recommendations
  • Support levels: 1.24200, 1.23700, 1.22850
  • Resistance levels: 1.24900, 1.25300

If the price fixes below the support level of 1.24200, we recommend looking for entry points to the market to open short positions. The movement is tending potentially to 1.23800-1.23500.

Alternative option. If the price fixes above 1.24900, it is necessary to consider purchases of EUR/USD. The target movement level is 1.25300-1.25500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.42376
  • Open: 1.41340
  • % chg. over the last day: -0.65
  • Day's range: 1.42241 – 1.42647
  • 52 wk range: 1.2014 – 1.3820

Yesterday, GBP/USD fell by almost 100 points. At the moment, the GBP/USD currency pair is consolidating in the range of 1.41750-1.42600. Investors took a wait-and-see attitude before the publication of important statistics from the UK. In the near future, a technical correction is not excluded after a significant rally over the past month. Positions must be opened from the key levels.

At 11:30 (GMT+2:00) data on the UK GDP will be published.

GBP/USD

The price has fixed above 50 MA and 200 MA, which indicates a bullish sentiment.

The MACD histogram does not send accurate signals. The indicator is near the 0 mark.

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

Trading recommendations
  • Support levels: 1.41750, 1.41100, 1.40000
  • Resistance levels: 1.42600, 1.43200

If the price fixes below the support level of 1.41750, we recommend considering sales of GBP/USD. The movement is tending potentially to 1.41100-1.41000.

An alternative may be the growth of the GBP/USD currency pair to 1.43200-1.43500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23397
  • Open: 1.23747
  • % chg. over the last day: +0.25
  • Day's range: 1.23122 – 1.23161
  • 52 wk range: 1.2059 – 1.3795

Yesterday there was a variety of trends on the USD/CAD currency pair. At the moment, the technical pattern is ambiguous. The trading instrument is in a sideways trend. The key range is 1.23000-1.23500. It is recommended to open positions if the price fixes above/below these marks.

At 15:30 (GMT+2:00), an inflation report will be published in Canada.

USD/CAD

The signals of the indicators are different. The price is below 50 MA and 200 MA, which indicates a bearish sentiment.

The MACD histogram has begun to decline and moved to the negative zone, which gives a signal to sell USD/CAD.

Stochastic Oscillator is in the oversold zone, the %K line is crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.23000, 1.22600
  • Resistance levels: 1.23500, 1.24000, 1.24500

If the price fixes below the round level of 1.23000, we expect a further drop in the USD/CAD currency pair. The movement is tending potentially to 1.22600-1.22400.

Alternative option. If the USD/CAD currency pair starts to rise and overcomes the 1.23500 mark, we recommend looking for entry points to the market to open long positions. The target movement level is 1.23900-1.24000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.198
  • Open: 109.406
  • % chg. over the last day: +0.42
  • Day's range: 109.401 – 109.663
  • 52 wk range: 107.33 – 115.62

Yesterday, there was a variety of trends on the USD/JPY currency pair. At the moment, the technical pattern is ambiguous. Quotes are being traded in the range of 108.750-109.200. In the near future a correction movement may develop on the USD/JPY currency pair. We recommend you to pay attention to the economic reports from the USA. Positions must be opened from the key levels.

The news feed on Japan's economy is calm.

USD/JPY

Indicators do not send accurate signals. The price has fixed below 50 MA and 200 MA, which indicates a bearish sentiment.

The MACD histogram has begun to decline and moved to the negative zone, which gives a signal to sell USD/JPY.

Stochastic Oscillator is in the oversold zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 108.750, 108.300
  • Resistance levels: 109.200, 109.700, 110.300

If the price fixes below the level of 108.750, we recommend considering sales of USD/JPY. The movement is tending potentially to 108.300-108.100.

Alternative option. If the price fixes above the local resistance of 109.200, the USD/JPY correction is expected. The movement is tending potentially to 109.700-110.000.

by JustForex, 2018.01.26

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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