The Analytical Overview of the Main Currency Pairs on 2017.06.19

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11438
  • Open: 1.12057
  • % chg. over the last day: +0.48
  • Day's range: 1.11862 – 1.12082
  • 52 wk range: 1.0366 – 1.1616

On Friday, purchases prevailed on EUR/USD. The US dollar was under pressure due to weak economic reports. At the moment, the technical pattern is ambiguous. The following key levels of support and resistance can be identified: 1.11750 and 1.12200, respectively. The market is waiting for additional drivers. On the current trading week, we recommend you to pay attention to the statements made by the FED'S representatives.

Today, the news background is calm. At 15:00 (GMT+3:00) the press conference of FOMC member Dudley will be held.

EUR/USD

Indicators do not send accurate signals. The price is between 50 MA and 200 MA, which are strong dynamic levels of support and resistance.

The MACD histogram has fixed in the positive area, but below the signal line, which gives a weak signal to buy EUR/USD.

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

Trading recommendations
  • Support levels: 1.11750, 1.11300
  • Resistance levels: 1.12200, 1.12800

We recommend opening positions from the key levels.

If the price fixes below the local support 1.11750, it is necessary to consider sales of EUR/USD. The immediate goal for profit taking is 1.11300.

Alternative option. If the EUR/USD quotes overcome the level of 1.12200, we recommend looking for entry points to the market in order to open long positions. The target movement level is 1.12800.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32394
  • Open: 1.32671
  • % chg. over the last day: +0.17
  • Day's range: 1.32404 – 1.32729
  • 52 wk range: 1.1986 – 1.5020

On Friday, trading was quite calm on GBP/USD. At the moment, the price is testing a round level of 1.28000. It should be recalled that last week the Bank of England kept the interest rate at the previous level of 0.25%. At the same time, three representatives of the Central Bank voted to tighten monetary policy.

There are no important economic reports from the UK today.

GBP/USD

Indicators point to the power of buyers. The price is above 50 MA and 200 MA.

The MACD histogram is located in the positive area and continues to rise, indicating a bullish sentiment on GBP/USD.

Stochastic Oscillator has fixed in the neutral zone, the %K line is above the %D line, which signals an increase in GBP/USD.

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

If the price fixes above the round level of 1.28000, we recommend considering buying GBP/USD. The target movement level is 1.28700.

Alternative option. If the GBP/USD rate overcomes the support level of 1.27250, you need to look for entry points to the market in order to open short positions. The movement is tending potentially to 1.26500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32671
  • Open: 1.32122
  • % chg. over the last day: -0.44
  • Day's range: 1.31973 – 1.32525
  • 52 wk range: 1.2458 – 1.4692

In the Asian trading session, the USD/CAD currency pair held the key demand zone of 1.31700-1.32000, which caused the bullish sentiment. At the moment, the technical pattern is indicating the development of the correctional movement. The nearest resistance is 1.32600.

Today, the news background on Canada's economy is calm.

Прогноз по валютной паре USD/CAD

The price has crossed 50 MA, which is quite a strong dynamic resistance.

The MACD histogram has begun to rise and fixed above the signal line, which indicates the growth of the USD/CAD quotes.

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

Trading recommendations
  • Support levels: 1.32000
  • Resistance levels: 1.32600, 1.33000, 1.33500

In the near future, we expect the correction on the USD/CAD currency pair. If the price fixes above the local resistance of 1.32600, we recommend you to look for entry points to the market in order to open long positions. The movement is tending potentially to 1.33000-1.33500. When tracking a position, one should use a trailing stop.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.901
  • Open: 110.877
  • % chg. over the last day: -0.07
  • Day's range: 110.712 – 111.214
  • 52 wk range: 99.08 – 123.69

On Friday, the USD/JPY currency pair held the local resistance at 111.350, which caused a correction in the second half of the day. Today in the Asian session, the yen was under pressure due to a weak report on Japan's balance of visible trade. At the moment, we recommend you to open positions from the key levels.

It is necessary to pay attention to the news line from the USA.

USD/JPY

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

The MACD histogram is in the positive zone and continues to rise, which indicates the growth of the USD/JPY currency pair.

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

Trading recommendations
  • Support levels: 110.700, 110.250
  • Resistance levels: 111.350

If the USD/JPY quotations fix above the local resistance of 111.350, it is necessary to consider purchases. The immediate goal for profit taking is 111.700.

Alternative option. If the price overcomes the support level of 110.700, a correction may develop on the USD/JPY currency pair. The movement is tending potentially to 110.250.

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.