The Analytical Overview of the Main Currency Pairs on 2018.07.24

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.17261
  • Open: 1.16920
  • % chg. over the last day: -0.40
  • Day's range: 1.16831 – 1.16930
  • 52 wk range: 1.0571 – 1.2557

During yesterday's trading, the EUR/USD currency pair went down. Quotations fell by more than 80 points. At the moment, the correction of the trading instrument is observed. Local support and resistance levels are: 1.16600 and 1.17000, respectively. We recommend opening positions from these marks. The further growth of the currency pair is not excluded.

The news feed on 2018.07.24:
  • - The index of economic activity in the manufacturing sector of Germany at 10:30 (GMT+3:00).
EUR/USD

Indicators do not send accurate signals: the price has fixed between 50 MA and 200 MA.

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

Stochastic Oscillator is in the neutral zone,the %K line is above the %D line, which indicates the power of the buyers.

Trading recommendations
  • Support levels: 1.16600, 1.16200, 1.15900
  • Resistance: 1.17000, 1.17400

If the price fixes below 1.16600, further decline of the EUR/USD quotations are expected to decline further. The movement is tending to 1.16200-1.15900.

Alternative option. If the price fixes above the round level of 1.17000, it is necessary to consider buying EUR/USD. The movement is tending to 1.17400-1.17600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev opening: 1.31136
  • Discovery: 1.30944
  • Rev. % of the last day: -0.33
  • The daily range: 1.30965 – 1.31029
  • 52-week range: 1.2361 – 1.4345

Yesterday, the GBP/USD currency pair went down. Quotes fell by more than 60 points. At the moment, the technical pattern is ambiguous. Investors expect additional drivers. The trading instrument is moving in the range of 1.30700-1.31200. Positions need to be opened from key levels of support and resistance.

The news feed on the UK economy is calm.

GBP/USD

Indicators do not send accurate signals: the price is testing 50 MA.

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

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

Trading recommendations
  • Support levels: 1.30700, 1.30200, 1.29700
  • Resistance levels: 1.31200, 1.31700, 1.32300

If the price falls below the level of 1.30700, further decrease in the GBP/USD price is expected. The movement is tending to 1.30200-1.30000.

Alternative option. If the price fixes above the already "mirror" resistance of 1.31200, it is necessary to consider buying GBP/USD. The movement is tending to 1.31700-1.31900.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31273
  • Open: 1.31667
  • % chg. over the last day: +0.39
  • Day's range: 1.31759 – 1.31911
  • 52 wk range: 1.2059 – 1.3795

Yesterday, the bullish sentiment was observed on the USD/CAD currency pair. The growth of quotations exceeded 60 points. At the moment, the key support and resistance levels are: 1.31600 and 1.31900, respectively. The positions must be opened from these marks. The trading instrument is tending to grow. We recommend paying attention to the dynamics of oil quotations.

Publication of important news from Canada is not expected.

USD/CAD

Indicators do not send accurate signals: the price has fixed between 50 MA and 200 MA.

The MACD histogram is in the positive zone and above the signal line, which gives a strong signal to buy USD/CAD.

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

Trading recommendations
  • Support levels: 1.31600, 1.31300
  • Resistance levels: 1.31900, 1.32250, 1.32600

If the price fixes below the support level of 1.31600, a decline in the currency pair is expected. The movement is tending to 1.31300-1.31000.

If the price fixes above the level of 1.31900, you need to look for entry points to the market to open long positions. The target movement level is 1.32250-1.32600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.371
  • Open: 111.325
  • % chg. over the last day: +0.37
  • Day's range: 111.138 – 111.359
  • 52 wk range: 104.56 – 114.74

Yesterday, the USD/JPY currency pair went up. The trading instrument grew by more than 60 points. At the moment, the technical pattern is ambiguous: quotes are moving in flat. Local support and resistance levels are: 111.100 and 111.450, respectively. We recommend opening positions from these marks. It is also necessary to pay attention to the yield of US 10-year government bonds.

The news feed on Japan's economy is calm.

USD/JPY

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

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 has crossed the %D line. There are no exact signals.

Trading recommendations
  • Support levels: 111.100, 110.750
  • Resistance levels: 111.450, 111.900, 112.300

If the price fixes below the 111.100 level, the USD/JPY currency pair is expected to decline. The movement is tending to 110.750-110.500.

Alternative option. If the price fixes above the level of 111.450, it is necessary to consider buying USD/JPY. The movement is tending to 111.900-112.100.

by JustForex, 2018.07.24

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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