The Analytical Overview of the Main Currency Pairs on 2018.05.14

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.19145
  • Open: 1.19381
  • % chg. over the last day: +0.24
  • Day's range: 1.19381 – 1.19489
  • 52 wk range: 1.0571 – 1.2557

On Friday, the EUR/USD currency pair began to strengthen. Investors fixed profits after the prolonged growth of the US currency. At the moment, the bullish sentiment is prevailing. The EUR/USD quotes have the potential for further recovery. The key support and resistance levels are: 1.19300 and 1.19800, respectively. We recommend opening positions from these marks.

Today, the news feed on economy of the Eurozone and the US is calm.

EUR/USD

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

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

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

Trading recommendations
  • Support levels: 1.19300, 1.18800, 1.18300
  • Resistance levels: 1.19800, 1.20300, 1.20700

If the price fixes above the resistance of 1.19800, it is necessary to consider purchases of EUR/USD. The target movement level is 1.20300-1.20500.

Alternative option. If the price fixes below the already "mirror" support level of 1.19300, the EUR/USD quotes are expected to decline. The movement is tending potentially to 1.18800-1.18300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.35124
  • Open: 1.35365
  • % chg. over the last day: +0.19
  • Day's range: 1.35427 – 1.35825
  • 52 wk range: 1.2361– 1.4345

On Friday, there was a variety of trends on the GBP/USD currency pair. The British pound moved away from the lows in 4 weeks. At the moment, the key support and resistance levels are 1.35400 and 1.35900, respectively. In the near future, a technical correction is not ruled out. Positions must be opened from these levels.

Today, important economic reports from the UK are not expected to be published.

GBP/USD

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

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

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: 1.35400, 1.35000, 1.34600
  • Resistance levels: 1.35900, 1.36300, 1.36700

If the price fixes above the resistance level of 1.35900, the GBP/USD currency pair is expected to rise to 1.36300-1.36700.

Alternative option. If the price fixes below the support level of 1.35400, the GBP/USD quotes are expected to decline. The movement is tending potentially to 1.35000-1.34800.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27647
  • Open: 1.27722
  • % chg. over the last day: +0.20
  • Day's range: 1.27650 – 1.27884
  • 52 wk range: 1.2059 – 1.3795

On Friday, the bullish sentiment was observed on the USD/CAD currency pair. At the moment, the technical pattern is ambiguous. The USD/CAD quotes are in a sideways trend. The trading instrument has the potential for further decrease. The key trading range is 1.27600-1.28000. Positions need to be opened from the key support and resistance levels.

The news feed on Canada's economy is calm.

USD/CAD

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

The MACD histogram is near 0 mark. There are no signals at the moment.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which gives a signal to sell USD/CAD.

Trading recommendations
  • Support levels: 1.27600, 1.27300
  • Resistance levels: 1.28000, 1.28400, 1.29000

If the price fixes below the support level of 1.27600, the USD/CAD quotes are expected to decrease. The movement is tending potentially to 1.27300-1.27000.

Alternative option. If the price fixes above the round level of 1.28000, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.28400-1.28600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.390
  • Open: 109.256
  • % chg. over the last day: -0.00
  • Day's range: 109.256 – 109.378
  • 52 wk range: 104.56 – 114.74

On Friday, the USD/JPY currency pair was in a sideways trend. At the moment, there is the bullish sentiment on the currency pair. A trading instrument is tending potentially to grow. The key support and resistance levels are 109,300 and 109,600, respectively. The positions must be opened from these marks.

The news feed on Japan's economy is calm.

USD/JPY

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

The MACD histogram starts to rise, which gives a weak signal to buy USD/JPY.

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

Trading recommendations
  • Support levels: 109.300, 109.000, 108.700
  • Resistance levels: 109.600, 109.850, 110.100

If the price fixes above the resistance level of 109.600, the USD/JPY currency pair is expected to grow. The movement is tending potentially to 109.850-110.100.

Alternative option. If the price fixes below the support of 109.300, it is necessary to consider sales of USD/JPY. The movement is tending potentially to 109.000-108.700.

by JustForex, 2018.05.14

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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