The Analytical Overview of the Main Currency Pairs on 2018.03.13

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23125
  • Open: 1.23354
  • % chg. over the last day: +0.25
  • Day's range: 1.23220 – 1.23453
  • 52 wk range: 1.0492 – 1.2537

Yesterday's trades on the EUR/USD currency pair were fairly calm. Quotes continue to consolidate. The technical pattern is still ambiguous. At the moment, the following key support and resistance levels can be defined: 1.23000 and 1.23400, respectively. Investors expect an inflation report in the US. This statistics can affect the Fed's views on further monetary policy. We recommend opening positions from the key levels.

The news feed on 2018.03.13:
  • - A number of indices of economic sentiments in Germany and the Eurozone at 12:00 (GMT+2:00);
  • - An inflation report in the US at 14:30 (GMT+2:00).
EUR/USD

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

The MACD histogram is located near the 0 mark.

Stochastic Oscillator is in the oversold zone, the %K line is above the %D line, which sends a signal to buy EUR/USD.

Trading recommendations
  • Support levels: 1.23000, 1.22600, 1.22250
  • Resistance levels: 1.23400, 1.23900, 1.24350

If the price fixes below the round level of 1.23000, the EUR/USD quotes are expected to fall. The movement is tending to 1.22600-1.22250.

Alternative option. If the price fixes above 1.23400, one should look for entry points into the market to open long positions. The movement is tending to 1.23900-1.24350.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.38515
  • Open: 1.39040
  • % chg. over the last day: +0.36
  • Day's range: 1.38789 – 1.39126
  • 52 wk range: 1.2106 – 1.4345

Yesterday, the bullish sentiment prevailed on the GBP/USD currency pair. The growth of quotations exceeded 60 points. At the moment, the trading instrument is in a sideways trend. The GBP/USD currency pair is testing the local support and resistance levels: 1.38750 and 1.39100. In the near future, a technical correction is not ruled out. The positions must be opened from these marks.

We recommend paying attention to the news feed from the USA.

GBP/USD

The signals of the indicators are different. The price has fixed above 50 MA and 200 MA.

The MACD histogram is beginning to decline and is below the signal line, which indicates a correction of the GBP/USD currency pair.

Stochastic Oscillator is located near the oversold zone, the %K line is above the %D line, which gives a strong signal to buy GBP/USD.

Trading recommendations
  • Support levels: 1.38750, 1.38400, 1.37900
  • Resistance levels: 1.39100, 1.39500

If the price fixes above the resistance level of 1.39100, the further growth of the GBP/USD quotes is expected. The movement is tending to 1.39500.

Alternative option. If the price fixes below 1.38750, it is necessary to consider sales of GBP/USD. The movement is tending potentially to 1.38400-1.38000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28138
  • Open: 1.28418
  • % chg. over the last day: +0.23
  • Day's range: 1.28323 – 1.28601
  • 52 wk range: 1.2059 – 1.3795

At the moment there is a correction of the USD/CAD currency pair after the fall at the end of last week. The trading instrument is testing the key offer zone of 1.28600-1.28850. The local support is the mark of 1.28300. The further growth of the USD/CAD quotations is possible. Positions must be opened from the key levels. We recommend you to pay attention to statistics from the USA.

At 16:15 (GMT+2:00) the head of the Bank of Canada will give a speech.

USD/CAD

Indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA.

The MACD histogram has begun to rise and has moved to the positive zone, which indicates the growth of the USD/CAD quotes.

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

Trading recommendations
  • Support levels: 1.28300, 1.27700
  • Resistance levels: 1.28600, 1.28850, 1.29500

If the price fixes above 1.28600, the USD/CAD currency pair is expected to grow. The movement is tending to the round level of 1.29000.

An alternative may be the correction of the USD/CAD quotations to the level of 1.28000-1.27700.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.762
  • Open: 106.452
  • % chg. over the last day: -0.59
  • Day's range: 106.254 – 107.032
  • 52 wk range: 107.33 – 115.51

The currency of the "safe haven" is under pressure due to a political scandal in Japan. In the Asian trading session, there were aggressive purchases of USD/JPY. The growth of quotations exceeded 60 points. The trading instrument reached a round level of 107.000. The nearest support is located at 106.600. Investors expect statistics from the US. We recommend opening positions from the key levels.

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

USD/JPY

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

The MACD histogram has moved to the positive zone and continues to rise, which signals an increase in the USD/JPY currency pair.

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

Trading recommendations
  • Support levels: 106.600, 106.300, 106.000
  • Resistance levels: 107.000, 107.400

If the price fixes above the round level of 107.000, the further growth of USD/JPY is expected. The movement is tending to 107.400-107.600.

An alternative may be the USD/JPY currency pair decreasing to around 106.600-106.300.

by JustForex, 2018.03.13

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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