The analytical overview of the main currency pairs on 2017.11.14

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16578
  • Open: 1.16665
  • % chg over the last day: +0.03
  • Days range: 1.16615 – 1.16690
  • 52 wk range: 1.0341 – 1.2069

The bullish sentiment prevails on EUR/USD. Nevertheless, positions should be opened from key support and resistance levels. At the moment, investors took a wait-and-see attitude before the publication of important economic reports from the Eurozone and the US. Support for the US currency is provided by the growth of the US government bond yield. We also recommend paying attention to the speeches of the chairmen of the leading central banks.

News background on 2017.11.14:
  • – preliminary data on the GDP of the Eurozone – 12:00 (GMT+2:00);
  • – the volume of industrial production of the Eurozone – 12:00 (GMT+2:00);
  • – producer price index in the USA – 15:30 (GMT+2:00).
EUR/USD

The price has fixed above 50 MA and 200 MA, which signals the power of buyers.

The MACD histogram is in the positive area and above the signal line, which indicates a bullish sentiment on EUR/USD.

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

Trading recommendations
  • Support levels: 1.16600, 1.16300, 1.16000
  • Resistance levels: 1.16850, 1.17500

If the statistics from the Eurozone turns out to be weak, we recommend considering sales of EUR/USD. The target movement level is 1.16300-1.16000.

An alternative may be the growth of the EUR/USD quotes to the level of 1.17250-1.17500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31665
  • Open: 1.31132
  • % chg over the last day: -0.53
  • Days range: 1.30908 – 1.31281
  • 52 wk range: 1.1450 – 1.3618

Yesterday, the bearish sentiment prevailed on the GBP/USD currency pair. The pound was under pressure due to the political risks growth in the UK. At the moment, the technical pattern is ambiguous. The pound is in a sideways trend. The key trading range is 1.30850-1.31250. Participants of the financial markets expect important statistics on the UK economy. We recommend you to open positions from key levels.

At 11:30 (GMT+2:00), the report on inflation in the UK will be published.

GBP/USD

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

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

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which signals the purchase of GBP/USD.

Trading recommendations
  • Support levels: 1.30850, 1.30400, 1.30000
  • Resistance levels: 1.31250, 1.31750, 1.32200

If the price fixes above 1.31250, it is necessary to consider buying GBP/USD. The movement is tending potentially to 1.31750-1.32000.

Alternative option. If the GBP/USD quotes overcome the 1.30850 mark, we recommend looking for entry points to the market to open short positions. The target movement level is 1.30400-1.30250.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26867
  • Open: 1.27303
  • % chg over the last day: +0.35
  • Days range: 1.27286 – 1.27539
  • 52 wk range: 1.2059 – 1.3795

At the moment, bullish sentiment prevails on the USD/CAD currency pair. Yesterday, the Canadian dollar weakened against the US dollar by more than 50 points. The further growth of the USD/CAD quotes is not ruled out. Today, we recommend opening positions from key levels. Investors expect statistics on the US economy. We also recommend paying attention to the dynamics of oil quotes.

The news background on Canada's economy is calm.

USD/CAD

The price is close to 200 MA, which is currently strong dynamic resistance.

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 line, which indicates the growth of the USD/CAD quotes.

Trading recommendations
  • Support levels: 1.27350, 1.27000, 1.26700
  • Resistance levels: 1.27500, 1.27750, 1.28000

If the statistics from the US turns out to be positive, we expect further growth of the USD/CAD quotes. The movement is tending potentially to 1.27750-1.28000.

An alternative may be the decrease of the USD/CAD currency pair to a round level of 1.27000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.493
  • Open: 113.624
  • % chg over the last day: +0.09
  • Days range: 113.553 – 113.910
  • 52 wk range: 99.53 – 118.67

At the moment, purchases prevail on the USD/JPY currency pair. The trading instrument has the potential for further growth. The following key support and resistance levels can be identified: 113.750 and 114.000. The US dollar is supported by the growth of the government bonds yield. The attention is focused on the economic reports from the US. The positions must be opened from key levels.

The news background on Japan's economy 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 and continues to rise, which signals the growth of the USD/JPY quotes.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also signals the purchase of USD/JPY.

Trading recommendations
  • Support levels: 113.750, 113.400, 113.150
  • Resistance levels: 114.000, 114.250, 114.600

If the statistics from the US is positive, we expect the further growth of the USD/JPY currency pair. The movement is tending potentially to 114.250-114.600.

An alternative may be the USD/JPY price drop to the level of 113.400-113.150.

When tracking positions, one should use a trailing stop.

by JustForex, 2017.11.14

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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.