The Analytical Overview of the Main Currency Pairs on 2018.01.02

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.19418
  • Open: 1.20092
  • % chg. over the last day: +0.25
  • Day's range: 1.20238 – 1.20381
  • 52 wk range: 1.0341 – 1.2069

At the moment, the bullish sentiment is prevailing on EUR/USD. The support and resistance levels are 1.19900 and 1.20500, respectively. Positions should be opened from key levels. We also recommend you to pay the attention on the statistics from Europe and the United States.

The news feed on 2018.01.02:

  • - The index of business activity in the manufacturing sector of Germany at 10:55 (GMT+2:00);
    - The index of business activity in the manufacturing sector of the United States at 16:45 (GMT+2:00);
    - The crude oil inventories in the US at 23:30 (GMT+2:00).
EUR/USD

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

The MACD histogram is in the positive zone, above the signal line, which signals the purchases of EUR/USD.

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

Trading recommendations
  • Support levels: 1.19900, 1.19400, 1.18600
  • Resistance levels: 1.20500

If the EUR/USD currency pair continues to grow and fixes above the key resistance level of 1.20500, we recommend considering purchases. The movement is tending potentially to 1.20800-1.21000.

If the quotes fix below the support level of 1.19900, we recommend looking for entry points to the market to open short positions. The target movement level is 1.19600-1.19400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.34285
  • Open: 1.34945
  • % chg. over the last day: +0.32
  • Day's range: 1.35328 – 1.35466
  • 52 wk range: 1.1450 – 1.3618

On Friday, the GBP/USD quotes rose. The pound closed the trading session in the positive zone. At the moment, the quotes are consolidating. The trading instrument has the potential for further growth. Positions must be opened from the key levels.

Today, at 11:30 (GMT+2:00) the index of business activity in the manufacturing sector of the UK will be published.

GBP/USD

Indicators do not send accurate signals. 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 growth of the GBP/USD quotes.

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

Trading recommendations
  • Support levels: 1.35000, 1.34400, 1.33700
  • Resistance levels: 1.35600

If the GBP/USD currency pair fixes above the resistance level of 1.35600, we recommend considering purchases. The movement is tending potentially to 1.36000-1.36200.

Alternatively, the GBP/USD may drop to 1.34600-1.34400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28934
  • Open: 1.26890
  • % chg. over the last day: -1.65
  • Day's range: 1.26890 – 1.27269
  • 52 wk range: 1.2059 – 1.3795

On Friday, December 29, sales were observed on USD/CAD against the background of falling demand for the US dollar. At the moment, the USD/CAD quotes are consolidating. The key range is 1.25100-1.25550. We recommend you to open positions if the price fixes above/below the key marks.

The news feed on Canada's economy is calm.

USD/CAD

Indicators signal the power of sellers. The price has fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone and continues to decline, which indicates the bearish sentiment on USD/CAD.

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

Trading recommendations
  • Support levels: 1.25100
  • Resistance levels: 1.25550, 1.26350, 1.27250

If the price fixes below the key support of 1.25100, the further drop in the USD/CAD quotes is expected. The movement is tending potentially to 1.24700-1.24500.

Alternative option. If the USD/CAD quotes overcome the local resistance of 1.25550, we recommend considering purchases. The target movement level is 1.25900-1.26100.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.849
  • Open: 112.578
  • % chg. over the last day: -0.27
  • Day's range: 112.365 – 112.402
  • 52 wk range: 99.53 – 118.67

At the moment, the bearish sentiment is prevailing on the USD/JPY currency pair. The technical pattern is ambiguous. The correction of the USD/JPY quotes is not excluded. Investors expect additional drivers. We recommend opening positions from the key support and resistance levels: 112.350 and 112.600, respectively.

The publication of important statistics on the economy of Japan is not planned.

USD/JPY

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

The MACD histogram is in the negative zone and below the signal line, which gives a strong signal to sell USD/JPY.

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

Trading recommendations
  • Support levels: 112.350
  • Resistance levels: 112.600, 112.900, 113.300

If the price fixes below the support level of 112.350, we recommend considering sales of USD/JPY. The movement is tending potentially to 111.950-111.750.

Alternative option. If the price fixes above the resistance of 112.600, it is necessary to look for entry points to the market to open long positions. The target movement level is 113.000-113.200.

by JustForex, 2018.01.02

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.

Consigue análisis gratis

* campos obligatorios