The Analytical Overview of the Main Currency Pairs on 2018.02.14

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22889
  • Open: 1.23539
  • % chg. over the last day: +0.50
  • Day's range: 1.23517 – 1.23619
  • 52 wk range: 1.0492 – 1.2537

During yesterday's trading, the EUR/USD currency pair continued to grow against the US dollar weakening. At the moment, the technical pattern is ambiguous. Investors expect important statistics from the US. The key support and resistance levels are: 1.23500 and 1.23900, respectively. We recommend you to open positions from these marks.

The news feed on 2018.02.14:

  • - Eurozone GDP statistics at 12:00 (GMT+2:00);
    - Inflation and retail sales reports in the US at 15:30 (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, 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 is below the %D line, which signals to sell EUR/USD.

Trading recommendations
  • Support levels: 1.23500, 1.23000, 1.22600
  • Resistance levels: 1.23900, 1.24300, 1.24700

If the currency pair fixes above the resistance level of 1.23900, we recommend considering purchases. The movement is tending potentially to 1.24300-1.24700.

Alternative option. If the EUR/USD quotes fix below 1.23500, we recommend looking for entry points to the market to open short positions. The movement is tending potentially to the round level of 1.23000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.38355
  • Open: 1.38879
  • % chg. over the last day: +0.33
  • Day's range: 1.38790 – 1.39060
  • 52 wk range: 1.2106 – 1.4345

Yesterday, an inflation report in the UK was published. It showed that inflation remained at the same level. Consumer prices rose by 3.0% year on year. Investors expected the growth of this indicator by 2.9%. However, the market did not particularly react to this. At the moment, there is flat on GBP/USD. The key support and resistance levels are: 1.38700 and 1.39200, respectively. We recommend you to open positions above/below these marks.

Today, the publication of important economic reports from the UK is not planned.

GBP/USD

The signals of the indicators are different. The price has fixed between 50 MA and 200 MA, which are strong dynamic support and resistance levels.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy GBP/USD.

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

Trading recommendations
  • Support levels: 1.38700, 1.38000, 1.37600
  • Resistance levels: 1.39200, 1.39800, 1.40400

If the price fixes below the support level of 1.38700, we recommend considering sales of GBP/USD. The movement is tending potentially to the round level of 1.38000.

Alternative option. If the price fixes above the resistance level of 1.39200, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.39800-1.40000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.25728
  • Open: 1.25884
  • % chg. over the last day: +0.11
  • Day's range: 1.25711 – 1.25844
  • 52 wk range: 1.2059 – 1.3795

The USD/CAD currency pair has been in a sideways trend for a long time. The technical pattern is still ambiguous. At the moment, the trading instrument is consolidating in the range of 1.25600-1.26000. Investors expect additional drivers. We recommend paying attention to the statistics of oil quotes dynamics from the US. Positions should be opened from the key levels.

The news feed on Canada's economy is calm.

USD/CAD

Indicators don’t show accurate signals. The price has crossed 50 MA.

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

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

Trading recommendations
  • Support levels: 1.25600, 1.25000, 1.24600
  • Resistance levels: 1.26000, 1.26400, 1.26800

If the USD/CAD quotes fix below the local support level of 1.25600, we recommend looking for entry points to the market to open short positions. The movement is tending potentially to the round level of 1.25000.

Alternative option. If the price fixes above the round level of 1.26000, the quotes are expected to rise to 1.26400-1.26800.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.638
  • Open: 107.843
  • % chg. over the last day: -0.82
  • Day's range: 107.278 – 107.489
  • 52 wk range: 107.33 – 115.51

During yesterday's and today's trading, the yen strengthened against the US dollar. USD/JPY fell by more than 150 points. At the moment, the USD/JPY quotes are consolidating in the range of 107.300-107.600. Positions should be opened from these marks. In the near future, there may be a technical correction. We recommend paying attention to the 10-year US government bonds yield statistics.

During the Asian trading session, the ambiguous data on Japan's GDP were published.

USD/JPY

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

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

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line that signals to buy USD/JPY.

Trading recommendations
  • Support levels: 107.300, 106.850
  • Resistance levels: 107.600, 108.000, 108.700

If the quotes fix above the "mirror" resistance level of 107.600, it is necessary to consider purchases of USD/JPY. The movement is tending potentially to 108.000-108.200.

Alternative option. If the price fixes below the support level of 107.300, it is expected a further fall in the USD/JPY quotes. The target movement level is 106.850-106.600.

by JustForex, 2018.02.14

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