The Analytical Overview of the Main Currency Pairs on 2017.06.27

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11967
  • Open: 1.11806
  • % chg. over the last day: -0.15
  • Day's range: 1.11761 – 1.12037
  • 52 wk range: 1.0366 – 1.1616

Yesterday's trading on EUR/USD was quite active. At the same time, a unidirectional trend was not observed. The key trading range is still 1.11750-1.12100. The US Department of Commerce published weak statistics on orders for durable goods. At the same time, the growth of EUR/USD was short-term and low-key. Demand for the American currency is at a fairly high level. Investors expect that the Fed's chairmen will reaffirm their insights into monetary policy, which were offered at the last FOMC meeting.

The economic calendar on 2017.06.27:

  • - The ECB head Draghi's speech - 11:00 (GMT+3:00);
  • - The consumer confidence index in the US - 17:00 (GMT+3:00);
  • - The Fed's Chairman Yellen's speech - 20:00 (GMT + 3: 00).
EUR/USD

The price tests 50 MA, which acts as a fairly strong dynamic support.

The MACD histogram does not provide accurate signals. The indicator is near 0 mark.

Stochastic Oscillator has left the overbought zone, the %K line is below the %D line, which gives the to sell EUR/USD.

Trading recommendations
  • Support levels: 1.11750, 1.11400
  • Resistance levels: 1.12100, 1.12600

We recommend opening positions from the key levels.

If the price consolidates above the level of 1.12100, it is necessary to consider buying EUR/USD. The movement is tending potentially to 1.12600.

Alternative option. If the EUR/USD quotes overcome the support level of1.11750, the bearish sentiment may prevail on the trading instrument. The immediate goal for profit taking is 1.11400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27332
  • Open: 1.27192
  • % chg. over the last day: -0.17
  • Day's range: 1.27092 – 1.27422
  • 52 wk range: 1.1986 – 1.5020

During yesterday's trades, the GBP/USD currency pair was in a sideways trend. Trades ended with a slight weakening of the pound. The price tested the boundaries of the key trading range of 1.27100-1.27600. At the moment, the technical pattern is ambiguous. The market is waiting for additional drivers. Positions must be opened from the key levels.

At 13:00 (GMT+3:00) the head of the Bank of England Carney will give a speech.

GBP/USD

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

The MACD histogram has fixed near the 0 mark.

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

Trading recommendations
  • Support levels: 1.27100, 1.26600
  • Resistance levels: 1.27600, 1.28000

If the price consolidates above the 1.27600 mark, we recommend you to look for entry points to the market in order to open long positions. The target movement level is 1.28000.

Alternative option. If the GBP/USD quotes consolidate below the support level of 1.27100, sales should be considered. The movement is tending potentially to 1.26600.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32594
  • Open: 1.32102
  • % chg. over the last day: -0.02
  • Day's range: 1.31967 – 1.32611
  • 52 wk range: 1.2458 – 1.4692

During the last trading sessions, there is a high volatility on the USD/CAD currency pair. However, a unidirectional trend does not occur. This is due to the publication of mixed economic reports from Canada. At the moment, the following key support and resistance levels can be identified: 1.32100 and 1.32600, respectively. Today, the Chairman of the Federal Reserve will give a speech, which may serve as a driver for the further alignment of forces on USD/CAD.

There are no important statistics on Canada's economy today. We recommend paying attention to the news background from the USA.

USD/CAD

The price is close to 50 MA and 200 MA, which act as a strong dynamic resistance.

The MACD histogram does not provide accurate signals. The indicator has fixed near the 0 mark.

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

Trading recommendations
  • Support levels: 1.32100, 1.31750
  • Resistance levels: 1.32600, 1.33100

If the US news background is upbeat, the bullish sentiment may prevail on the USD/CAD currency pair. The movement is tending potentially to 1.33000-1.33100.

An alternative may be a downward trend on USD/CAD to the support level of 1.31750.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.122
  • Open: 111.819
  • % chg. over the last day: +0.57
  • Day's range: 111.461 – 112.074
  • 52 wk range: 99.08 – 123.69

Yesterday, purchases prevailed on USD/JPY. The growth of the quotations exceeded 0.50%. The currency has reached a round level of 112,000. Today there is a corrective movement. The closest support is the mark of 111.350. Investors are expecting a press conference of the Fed's head. We also recommend paying attention to the US government bonds yield.

The news background on the economy of Japan is calm today.

USD/JPY

The price is close to 50 MA and 200 MA, which act as a strong dynamic support.

The MACD histogram has begun to decline and fixed below the signal line, which indicates a correction on USD/JPY.

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

Trading recommendations
  • Support levels: 111.350, 110.700
  • Resistance levels: 112.000

At the moment, the technical pattern is ambiguous. It is better to open positions from the key levels.

If the price consolidates below the local support of 111.350, the correction on USD/JPY may continue. The movement is tending potentially to 110.700.

Alternative option. If the USD/JPY quotes overcome the round level of 112.000, we recommend looking for entry points to the market in order to open long positions. The target movement level is 112.250-112.500.

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.