The Analytical Overview of the Main Currency Pairs on 2018.08.15

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.14099
  • Open: 1.13460
  • % chg. over the last day: -0.54
  • Day's range: 1.13334 – 1.13442
  • 52 wk range: 1.0571 – 1.2557

During yesterday's trading session, the bearish sentiment was observed on the EUR/USD currency pair. Demand for the US currency is at a high level, while the euro is declining. The drop in quotes exceeded 70 points. At the moment, the local support and resistance levels are 1.13100 and 1.13600, respectively. We recommend opening positions from these marks. In the near future, we do not exclude the technical correction of the EUR/USD currency pair.

The news feed on 15.08.2018:
  • - Data on retail sales in the US at 15:30 (GMT+3:00).
EUR/USD

Indicators point to the power of sellers: the price has fixed below 50 MA and 200 MA.

The MACD histogram is located in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates a corrective movement.

Trading recommendations
  • Support levels: 1.13100, 1.12600
  • Resistance levels: 1.13600, 1.14000, 1.14400

If the price fixes above the resistance level of 1.13600, correction of the EUR/USD currency pair is expected. The movement is tending to 1.14000-1.14200.

Alternative option. If the price fixes below 1.13100, it is necessary to look for entry points to open short positions. The movement is tending to 1.12800-1.12600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27577
  • Open: 1.27201
  • % chg. over the last day: -0.39
  • Day's range: 1.27039 – 1.27238
  • 52 wk range: 1.2361 – 1.4345

Yesterday, the bearish sentiment was observed on the GBP/USD currency pair. The British pound weakened after the publication of a weak report on the UK labor market. At the moment, the key support and resistance levels are 1.26900 and 1.27500, respectively. In the near future, a technical correction is not ruled out. Positions should be opened from the key levels.

At 11:30 (GMT+3:00), the consumer price index will be published in the UK.

GBP/USD

Indicators point to the power of sellers: the price has fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates the GBP/USD quotes growth.

Trading recommendations
  • Support levels: 1.26900, 1.26500
  • Resistance levels: 1.27500, 1.28000, 1.28500

If the price fixes above 1.27500, corrective movement is expected. The target level for profit-taking is 1.28000-1.28200.

An alternative may be a decline in the GBP/USD quotes to 1.26500-1.26300.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31259
  • Open: 1.30567
  • % chg. over the last day: -0.58
  • Day's range: 1.30534 – 1.30565
  • 52 wk range: 1.2059 – 1.3795

Yesterday, sales prevailed on the USD/CAD. The decline in quotes was caused mostly by the technical factors. At the moment, the technical pattern is ambiguous. Financial market participants expect additional drivers. The key support and resistance levels are 1.30600 and 1.30900, respectively. We recommend opening positions from these marks.

Today, the news feed on the economy of Canada is calm.

USD/CAD

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

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

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

Trading recommendations
  • Support levels: 1.30600, 1.30300, 1.30000
  • Resistance levels: 1.30900, 1.31200, 1.31600

If the price fixes below 1.30600, the USD/CAD quotes are expected to fall further. The movement is tending to 1.30300-1.30000.

Alternative option. If the price fixes above the already "mirror" resistance of 1.30900, it is necessary to consider purchases of USD/CAD. The movement is tending to 1.31200-1.31600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.640
  • Open: 111.112
  • % chg. over the last day: +0.47
  • Day`s range: 111.111 – 111.239
  • 52 wk range: 104.56 – 114.74

The bullish sentiment is prevailing on the USD/JPY currency pair. At the moment, the key support and resistance levels are 111.150 and 111.450, respectively. The trading instrument has the potential for further growth. Positions should be opened from the key levels. We recommend paying attention to economic reports from the US.

The news feed on the economy of Japan is calm.

USD/JPY

Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.

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

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: 111.150, 110.800, 110.500
  • Resistance levels: 111.450, 111.800

If the price fixes above the resistance level of 111.450, the USD/JPY currency pair is expected to grow. The movement is tending to 111.800-112.000.

Alternative option. If the price fixes below the level of 111.150, it is necessary to consider sales of USD/JPY. The movement is tending to 110.800-110.600.

by JustForex, 2018.08.15

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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