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The Analytical Overview of the Main Currency Pairs on 2017.06.14

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12020
  • Open: 1.12077
  • % chg. over the last day: +0.12
  • Day's range: 1.12045 – 1.12253
  • 52 wk range: 1.0366 – 1.1616

Today the important statistics on the US economy is expected to be published. Investors' attention is directed to reports on inflation, retail sales, a decision on the interest rate of the Fed and economic forecasts of the FOMC. This statistics will have a significant impact on the further alignment of forces on major currencies. We advise paying attention to the statements and rhetoric of the Fed's representatives. Since the beginning of this week, the EUR/USD currency pair has been traded in the range of 1.11900-1.12250.

The news feed on the US economy on 2017.06.14:

  • - Publication of data on inflation and retail sales at 15:30 (GMT+3:00);
  • - The Fed's decision on the interest rate at 21:00 (GMT+3:00);
  • - The FOMC economic forecasts at 21:00 (GMT+3:00);
  • - The FOMC press conference at 21:30 (GMT+3:00).
EUR/USD

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

The MACD histogram has begun to rise and moved to the positive zone, which indicates a bullish sentiment on EUR/USD.

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

Trading recommendations
  • Support levels: 1.11900, 1.11200
  • Resistance levels: 1.12250, 1.12800

Today, high volatility and trading activity are expected. We recommend reducing risks. It is better to open positions from the key levels.

If economic reports from the US are positive, a downward trend may develop on the EUR/USD currency pair. The movement is tending potentially to 1.11200-1.11000.

An alternative option may be the growth of the EUR/USD currency pair. The target level of movement is 1.12800-1.13000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26541
  • Open: 1.27571
  • % chg. over the last day: +0.77
  • Day's range: 1.27384 – 1.27966
  • 52 wk range: 1.1986 – 1.5020

Yesterday, the aggressive purchases were on GBP/USD. The pound added more than 0.75%. Support for the currency of Britain was provided by positive data on inflation in the country and rumors of a coalition between the Conservative and Democratic Unionist parties. The round level of 1.28000 is the nearest resistance. The mark of 1.27250 is a "mirror" support. We are waiting for statistics from the UK.

At 11:30 (GMT+3:00) the report on the labor market in the UK will occur. Also, we recommend paying attention to the news line from the USA.

GBP/USD

GBP/USD has fixed between 50 MA and 200 MA.

The MACD histogram is located in the positive area and above the signal line, indicating a further correction on GBP/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also gives a signal to buy GBP/USD.

Trading recommendations
  • Support levels: 1.27250, 1.26500
  • Resistance levels: 1.28000, 1.28700

If the report on the labor market in the UK is upbeat, the correction on GBP/USD may continue. The movement is tending potentially to 1.28500-1.28700.

Alternatively, the GBP/USD rate may drop to the support level of 1.27250.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33224
  • Open: 1.32357
  • % chg. over the last day: -0.62
  • Day' range: 1.32043 – 1.32452
  • 52 wk range: 1.2458 – 1.4692

During yesterday's trading, the Canadian dollar rally continued. The fall in USD/CAD quotations exceeded 0.5%. At the moment, the currency is being traded near the round level of 1.32000. The local resistance is 1.32450. In the near future, a technical correction is possible.

The news background on Canada's economy is calm today. We recommend paying attention to economic reports from the USA.

USD/CAD

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

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

Stochastic Oscillator has reached the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.32000
  • Resistance levels: 1.32450, 1.33000, 1.33500

We recommend opening positions from the key levels.

If the price fixes below the round level of 1.32000, the downward trend on USD/CAD may continue. The target movement level is 1.31500.

Alternative option. If the USD/CAD quotes overcome the local resistance of 1.32450, the corrective movement may develop. The immediate goal for profit taking is 1.33000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.928
  • Open: 110.041
  • % chg. over the last day: +0.12
  • Day's range: 109.951 – 110.245
  • 52 wk range: 99.08 – 123.69

Yesterday's trading on USD/JPY was calm. A significant change in the rate did not occur. The currency was in a lateral movement. Investors remain cautious before the Fed's meeting. The key trading range is still 109.800-110.400.

It is necessary to pay attention to the news feed on the US economy.

USD/JPY

Indicators point to the bullish sentiment. The price is above 50 MA and 200 MA.

The MACD histogram has begun to rise and moved to the positive zone, which signals an upward trend in USD/JPY.

Stochastic Oscillator is near the overbought zone, the %K line is above the %D line, which gives a weak signal to buy USD/JPY.

Trading recommendations
  • Support levels: 109.800, 109.250
  • Resistance levels: 110.400, 111.000

If the statistics from the US is upbeat, purchases may prevail on USD/JPY. The movement is tending potentially to the round level of 111.000.

The alternative may be a drop in the USD/JPY quotes. The target movement level is 109.250.

When tracking positions, one should use a trailing stop.


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.