The Analytical Overview of the Main Currency Pairs on 2018.02.15

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23539
  • Open: 1.24494
  • % chg. over the last day: +0.94
  • Day's range: 1.24485 – 1.24614
  • 52 wk range: 1.0492 – 1.2537

Yesterday, the US inflation report was published: in January, inflation accelerated to 2.1%; the consumer price index in the US increased by 0.5% (year on year). Another report showed that retail sales in the US in January fell by 0.3%, although analysts expected the growth of 0.2%. As a result, a multidirectional dynamics was observed on the EUR/USD currency pair. Quotes slightly rolled back initially, but then grew by almost 200 points. At the moment, the currency pair is testing a round level of 1.25000. We recommend opening positions from the key support and resistance levels.

The news feed on 2018.02.15:

  • - Trade balance in the Eurozone at 12:00 (GMT+2:00);
    - The number of initial jobless claims in the US at 15:30 (GMT+2:00);
    - The index of Philadelphia Fed manufacturing activity at 15:30 (GMT+2:00);
    - Producer price index in the US at 15:30 (GMT+2:00).
EUR/USD

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

The MACD histogram is in the positive zone and above the signal line, which signals to buy EUR/USD.

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

Trading recommendations
  • Support levels: 1.24700, 1.24200, 1.23800
  • Resistance levels: 1.25000, 1.25200, 1.25500

If the EUR/USD currency pair fixes above the round level of 1.25000, we recommend considering the purchases. The movement is tending potentially to 1.25500.

Alternative option. If the EUR/USD quotes fix below 1.24700, we recommend looking for entry points to the market to open short positions. The movement is tending potentially to the round level of 1.24200-1.23800.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.38879
  • Open: 1.39949
  • % chg. over the last day: +0.89
  • Day's range: 1.39948 – 1.40590
  • 52 wk range: 1.2106 – 1.4345

Yesterday, there was an upward trend on the GBP/USD currency pair. Quotes rose by almost 200 points. The trading instrument has the potential for further growth. At the moment, the key levels of support and resistance are: 1.4000 and 1.40600, respectively. We recommend you to open positions above/below these marks.

Today, the news feed on the UK economy is calm.

GBP/USD

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

The MACD histogram is in the positive zone and above the signal line, which signals to buy GBP/USD.

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

Trading recommendations
  • Support levels: 1.40000, 1.39300, 1.38700
  • Resistance levels: 1.40600, 1.41200, 1.41700

If the price fixes below the round level of 1.40000, we recommend considering sales of GBP/USD. The movement is tending potentially to 1.39300.

Alternative option. If the price fixes above the resistance level of 1.40600, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.41000-1.41200.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.25884
  • Open: 1.24912
  • % chg. over the last day: -0.87
  • Day's range: 1.24866 – 1.24741
  • 52 wk range: 1.2059 – 1.3795

Yesterday, there were aggressive sales on the USD/CAD currency pair. Quotes fell by almost 150 points. The trading instrument tends to further decline. At the moment, the trading instrument is consolidating in the range of 1.24600-1.25000. We recommend paying attention to the dynamics of oil quotes. Positions must be opened from the key levels.

The news feed on Canada's economy is calm.

USD/CAD

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

The MACD histogram is in the negative zone, below the signal line, which gives a signal to sell USD/CAD.

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

Trading recommendations
  • Support levels: 1.24600, 1.24200, 1.23800
  • Resistance levels: 1.25000, 1.25500, 1.26000

If the USD/CAD quotes fix below the local support of 1.24600, we recommend looking for entry points to the market to open short positions. The movement is tending potentially to 1.24200-1.23800.

Alternative option. If the price fixes above the round level of 1.25000, the quotes are expected to rise to 1.25500-1.25700.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.843
  • Open: 106.999
  • % chg. over the last day: -1.19
  • Day's range: 107.278 – 107.489
  • 52 wk range: 107.33 – 115.51

Today, data on the volume of industrial production in Japan was published, which showed an increase of 2.9%, although the growth of 2.7% was expected. During yesterday's and today's trading, the USD/JPY quotes fell by almost 150 points. Since the beginning of this week, the yen has added more than 2%. At the moment, the trading instrument is consolidating in the range of 106.300-106.700. A further decline in the USD/JPY quotes is not excluded. We recommend you to pay attention to the 10-year US government bonds yield. Positions must be opened from the key levels.

Investors expect economic reports from the United States.

USD/JPY

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

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

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

Trading recommendations
  • Support levels: 106.300, 106.000
  • Resistance levels: 106.700, 107.300, 107.800

If the quotes continue to decline and fix below the support level of 106.300, it is necessary to consider sales of USD/JPY. The movement is tending potentially to 106.000-105.700.

An alternative option is the price growth to 107.000-107.300.

by JustForex, 2018.02.15

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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