The Analytical Overview of the Main Currency Pairs on 2018.05.15

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.19381
  • Open: 1.19241
  • % chg. over the last day: -0.18
  • Day's range: 1.19381 – 1.19489
  • 52 wk range: 1.0571 – 1.2557

Yesterday, there was a variety of trends on the EUR/USD currency pair. The US dollar began to strengthen in the second half of the trading session against the 10-year US government bonds yield growth. At the moment, the trading instrument is in a sideways trend. The key support and resistance levels are: 1.19100 and 1.19500, respectively. We recommend opening positions from these marks.

The news feed on 2018.05.15:
  • – ZEW economic sentiment indices in Germany and the Eurozone at 12:00 (GMT+3:00);
  • – Statistics on retail sales in the US at 15:30 (GMT+3:00).
EUR/USD

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

The MACD histogram is in the negative zone and below the signal line, which signals to sell EUR/USD.

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

Trading recommendations
  • Support levels: 1.19100, 1.18700, 1.18300
  • Resistance levels: 1.19500, 1.19900, 1.20300

If the price fixes above the resistance of 1.19500, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.19900-1.20300.

Alternative option. If the price fixes below the support level of 1.19100, the EUR/USD quotes are expected to decline. The movement is tending potentially to 1.18700-1.18300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.35365
  • Open: 1.35551
  • % chg. over the last day: +0.08
  • Day's range: 1.35457 – 1.35620
  • 52 wk range: 1.2361– 1.4345

A technical pattern on the GBP/USD currency pair is ambiguous. Investors expect additional drivers. Today, a report on the UK labor market is in the focus of attention. At the moment, the key support and resistance levels are 1.35400 and 1.35800, respectively. Positions should be opened from these levels.

At 11:30 (GMT+3:00) a report on the UK labor market will be published.

GBP/USD

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

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

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

Trading recommendations
  • Support levels: 1.35400, 1.35000, 1.34600
  • Resistance levels: 1.35800, 1.36200, 1.36200

If the price fixes above the resistance level of 1.35800, the GBP/USD currency pair is expected to rise to 1.36200-1.36600.

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: 1.27722
  • Open: 1.28018
  • % chg. over the last day: +0.16
  • Day's range: 1.27950 – 1.28049
  • 52 wk range: 1.2059 – 1.3795

At the moment, a technical pattern on the USD/CAD currency pair is ambiguous. The USD/CAD quotes are in a sideways trend. Investors expect important statistics from the US. We also recommend paying attention to the movement of oil quotes. The trading instrument has the potential for further correction. The key support and resistance levels are 1.27800 and 1.28200. The positions should be opened from these marks.

The news feed on Canada economy is calm.

USD/CAD

The price is between 50 MA and 200 MA, which are strong dynamic levels of support and resistance.

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

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: 1.27800, 1.27300
  • Resistance levels: 1.28200, 1.28700, 1.29300

If the price fixes below the support of 1.27800, the USD/CAD quotes are expected to decline. The movement is tending potentially to 1.27400-1.27200.

Alternative option. If the price fixes above the resistance level of 1.28200, it is necessary to consider purchases of USD/CAD. The target movement level is 1.28700-1.28900.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.256
  • Open: 109.652
  • % chg. over the last day: +0.38
  • Day's range: 109.870 – 109.890
  • 52 wk range: 104.56 – 114.74

The bullish sentiment is observed on the USD/JPY currency pair. The US dollar strengthened against the 10-year US government bonds yield growth. The indicator exceeded the 3% mark. A trading instrument is tending potentially to grow. At the moment, the key support and resistance levels are 109.750 and 110.000, respectively. The positions should be opened from these marks.

The news feed on Japan economy is calm.

USD/JPY

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 above the signal line, which gives a strong signal to buy USD/JPY.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which indicates a decrease in the USD/JPY quotes.

Trading recommendations
  • Support levels: 109.750, 109.450, 109.100
  • Resistance levels: 110.000, 110.200

If the price fixes above the round level of 110.000, the USD/JPY currency pair is expected to grow. The movement is tending potentially to 110.400-110.600.

Alternative option. If the price fixes below the support of 109.750, it is necessary to consider sales of USD/JPY. The movement is tending potentially to 109.450-109.100.

by JustForex, 2018.05.15

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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