The Analytical Overview of the Main Currency Pairs on 2018.10.11

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.14884
  • Open: 1.15188
  • % chg. over the last day: +0.37
  • Day's range: 1.15158 – 1.15723
  • 52 wk range: 1.0571 – 1.2557

The EUR/USD currency pair has started recovering. During yesterday's and today's trading, the growth of quotes exceeded 70 points. The trading instrument has updated local highs. At the moment, the euro is testing local support and resistance levels: 1.15350 and 1.15700, respectively. Today, investors will assess the ECB account of the last meeting and statistics on inflation in the United States. We recommend opening positions from the key levels.

The news feed on 2018.10.11:
  • - The ECB account of monetary policy meeting at 14:30 (GMT+3:00);
  • - Report on inflation in the US at 15:30 (GMT+3:00).
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 above the signal line, which indicates the bullish sentiment.

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

Trading recommendations
  • Support levels: 1.15350, 1.15000, 1.14600
  • Resistance levels: 1.15700, 1.16150, 1.16500

If the price fixes above the resistance level of 1.15700, a further increase in the EUR/USD quotes is expected. The movement is tending to 1.16000-1.16250.

An alternative may be a decrease in the EUR/USD currency pair to the level of 1.15000-1.14750.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31411
  • Open: 1.31880
  • % chg. over the last day: +0.46
  • Day's range: 1.31625 – 1.32441
  • 52 wk range: 1.2361 – 1.4345

The GBP/USD currency pair continues to show positive dynamics. Demand for the pound is still high in the hope that the UK and the EU would soon conclude an agreement on Brexit. At the moment, the key support and resistance levels are: 1.31750 and 1.32350, respectively. Positions should be opened from these marks. We recommend paying attention to the news feed on the US economy.

Today, the publication of important statistics from the UK is not planned.

GBP/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, but below the signal line, which gives a weak signal to buy GBP/USD.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.

Trading recommendations
  • Support levels: 1.31750, 1.31300, 1.31000
  • Resistance levels: 1.32350, 1.32750

If the price fixes above the resistance level of 1.32350, further growth of the GBP/USD quotes is expected. The movement is tending to 1.32750-1.33000.

An alternative may be the decrease of the GBP/USD currency pair to the level of 1.31400-1.31200.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29462
  • Open: 1.30601
  • % chg. over the last day: +0.82
  • Day's range: 1.30329 – 1.30640
  • 52 wk range: 1.2059 – 1.3795

The bullish sentiment is still prevailing on the USD/CAD currency pair. Yesterday, aggressive purchases were observed. The growth of quotes exceeded 100 points. At the moment, the trading instrument is consolidating. Local support and resistance levels are: 1.30300 and 1.30650, respectively. In the near future technical correction is not excluded.

The news feed on the economy of Canada is calm.

USD/CAD

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/CAD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D, which indicates the bullish sentiment.

Trading recommendations
  • Support levels: 1.30300, 1.30000, 1.29500
  • Resistance levels: 1.30650, 1.31000

If the price fixes above the local resistance of 1.30650, further growth of the USD/CAD quotes is expected. The movement is tending to 1.31000-1.31250.

Alternative option. If the price fixes below 1.30300, it is necessary to look for entry points to the market to open short positions. The target movement level is 1.30000-1.29750.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.259
  • Open: 111.921
  • % chg. over the last day: +0.68
  • Day's range: 111.786 – 112.077
  • 52 wk range: 104.56 – 114.74

Sales are prevailing on the USD/JPY currency pair. During yesterday's trading session, the USD/JPY quotes fell by more than 80 points. The trading instrument has formed new local lows. At the moment, the safe haven currency is in a sideways trend. Local support and resistance levels are: 112.000 and 112.350, respectively. Positions should be opened from these marks.

Publication of important economic reports from Japan is not planned.

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, but above the signal line, which gives a weak signal to sell USD/JPY.

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

Trading recommendations
  • Support levels: 112.000, 111.500
  • Resistance levels: 112.350, 112.800

If the price fixes below the round level of 112.000, a further fall in the USD/JPY quotes is expected. The movement is tending to 111.600-111.400.

Alternative option. If the price fixes above the local resistance of 112.350, we recommend looking for market entry points to open long positions. The target movement level is 112.750-113.000.

by JustForex, 2018.10.11

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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