The Analytical Overview of the Main Currency Pairs on 2018.01.19

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.21850
  • Open: 1.22365
  • % chg. over the last day: +0.40
  • Day's range: 1.22514 - 1.22770
  • 52 wk range: 1.0492 – 1.2296

Yesterday, purchases prevailed on the EUR/USD currency pair. At the moment, there is an upward trend on the EUR/USD currency pair. In the near future, a technical correction is not excluded. Local support and resistance levels are 1.22350 and 1.22850. We recommend opening positions from these marks.

The news feed on 2018.01.19:

  • - The index of consumer expectations and sentiment in the US at 17:00 (GMT+2:00).
EUR/USD

The signals of the indicators are different. The price has fixed above 50 MA and 200 MA, which indicates a bullish sentiment.

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

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

Trading recommendations
  • Support levels: 1.22350, 1.21800, 1.21250
  • Resistance levels: 1.22850, 1.23350

If the price fixes below the support level of 1.22350, we recommend you to consider sales of the EUR/USD currency pair. The movement is tending potentially to 1.22000-1.21700.

Alternative option. If the price fixes above 1.22850, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.23350.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.38233
  • Open: 1.38931
  • % chg. over the last day: +0.48
  • Day's range: 1.39136 – 1.39234
  • 52 wk range: 1.2014 – 1.3820

Yesterday, the British pound strengthened against the US dollar. The GBP/USD quotes have increased by 70 points. At the moment, the technical pattern on the GBP/USD currency pair is ambiguous. The key trading range is 1.38650-1.39300. We recommend opening positions, if the price fixes above/below these marks.

At 11:30 (GMT+2:00) the report on the volume of retail sales in the UK will be published.

GBP/USD

The price has fixed above 50 MA and 200 MA, which indicates a bullish sentiment.

The MACD histogram is in the positive zone and continues to rise, which gives a signal to buy GBP/USD.

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

Trading recommendations
  • Support levels: 1.38650, 1.38000, 1.37400
  • Resistance levels: 1.39300, 1.39700

If the price fixes above the resistance level of 1.39300, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.39700-1.40000.

Alternative option. If the price fixes below the local support level of 1.38650, the correction of the GBP/USD quotes is expected. The movement is tending potentially to 1.38150-1.38000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.24383
  • Open: 1.24172
  • % chg. over the last day: -0.19
  • Day's range: 1.24238 - 1.24357
  • 52 wk range: 1.2059 – 1.3795

Yesterday, bearish sentiment was observed on the USD/CAD currency pair. At the moment, the technical pattern is ambiguous. The USD/CAD quotes are in a sideways trend. The support and resistance levels are still 1.24100 and 1.24600, respectively. Investors expect additional drivers. We recommend you to open positions from the key levels.

The news feed on 2018.01.19:

  • - Manufacturing Sales in Canada at 15:30 (GMT+2:00).
USD/CAD

The signals of the indicators are different. The price has fixed below 50 MA and 200 MA, which indicates a bearish sentiment.

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

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which signals to buy USD/CAD.

Trading recommendations
  • Support levels: 1.24100, 1.23750
  • Resistance levels: 1.24600, 1.25000, 1.25500

If the USD/CAD quotes fix below the local support level of 1.24100, we recommend you to look for entry points to the market to open short positions. The movement is tending potentially to the level of 1.23750-1.23500.

Alternatively, there may be the growth of the USD/CAD currency pair to the level of 1.25000-1.25250.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.295
  • Open: 111.011
  • % chg. over the last day: -0.22
  • Day's range: 110.578 – 110.756
  • 52 wk range: 107.33 – 115.62

Yesterday, a multidirectional dynamics was observed on the USD/JPY currency pair. At the moment, the price is decreasing. The trading instrument has the potential for further fall. The key support and resistance levels are 110.550 and 110.900. The positions should be opened above/below these marks.

The news feed on economy of Japan is calm.

USD/JPY

The indicators give signals to sell USD/JPY. The price has fixed below 50 MA and 200 MA, which indicates a bearish sentiment.

The MACD histogram is in the negative zone, 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, which gives a weak signal to sell USD/JPY.

Trading recommendations
  • Support levels: 110.550, 110.300, 110.000
  • Resistance levels: 110.900, 111.400, 111.850

If the price continues to decline and fixes below the local support level of 110.550, we recommend considering sales of USD/JPY. The target movement level is 110.300-110.000.

An alternative may be the growth of the USD/JPY quotes to the level of 111.300-111.500.

by JustForex, 2018.01.19

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.

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