The Analytical Overview of the Main Currency Pairs on 2018.09.04

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.15958
  • Open: 1.16173
  • % chg. over the last day: +0.14
  • Day's range: 1.15742 – 1.16192
  • 52 wk range: 1.0571 – 1.2557

Yesterday, trading on the EUR/USD currency pair was calm. The US financial markets were closed due to the holiday. Today, the EUR/USD quotes has been declining. At the moment, the trading instrument is testing the 1.15750 mark. The level of 1.15900 is already a "mirror" resistance. The EUR/USD currency pair has the potential for further decrease. Positions should be opened from the key levels.

The news feed on 2018.09.04:
  • - The index of economic activity in the US manufacturing sector from ISM at 17:00 (GMT+3:00).
EUR/USD

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

The MACD histogram is located in the negative zone and continues to decline, which indicates the bearish sentiment.

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

Trading recommendations
  • Support levels: 1.15750, 1.15550, 1.15300
  • Resistance levels: 1.15900, 1.16300, 1.16600

If the price fixes below the local support of 1.15750, the EUR/USD quotes are expected to fall. The movement is tending to 1.15550-1.15300.

Alternative option. If the price fixes above 1.16100, we recommend considering purchases of EUR/USD. The movement is tending to 1.16400-1.16600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29131
  • Open: 1.28639
  • % chg. over the last day: -0.41
  • Day's range: 1.28408 – 1.28756
  • 52 wk range: 1.2361 – 1.4345

The GBP/USD currency pair continues to show negative dynamics. The pound is under pressure due to uncertainty in the Brexit process and weak economic reports. In August, the index of economic activity in the UK manufacturing sector reached a two-year minimum. The indicator counted to 52.8, which is below market expectations at the level of 53.9. At the moment, the GBP/USD quotes are consolidating in the range of 1.28400-1.28700. The positions should be opened from these marks.

Important economic reports on 2018.09.04:
  • - The index of economic activity in the UK construction sector at 11:30 (GMT+3:00).
GBP/USD

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

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

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

Trading recommendations
  • Support levels: 1.28400, 1.28000
  • Resistance levels: 1.28700, 1.29000, 1.29350

If the price fixes below the local support of 1.28400, further fall of the GBP/USD currency pair is expected. The movement is tending to the round level of 1.28000.

Alternative option. If the price fixes above the level of 1.28700, we recommend considering purchases of GBP/USD. The target movement level is 1.29000-1.29350.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30722
  • Open: 1.30915
  • % chg. over the last day: +0.24
  • Day's range: 1.30892 – 1.31251
  • 52 wk range: 1.2059 – 1.3795

The bullish sentiment continues to prevail on the USD/CAD currency pair. At the moment, quotes are testing the local resistance of 1.31250. The 1.30850 mark is already a "mirror" support. The trading instrument is tending to grow. We recommend paying attention to the news feed on the US economy. Positions should be opened from the key levels.

The publication of important economic reports from Canada is not planned.

USD/CAD

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

The MACD histogram is in the positive zone and continues to rise, which signals to buy USD/CAD.

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

Trading recommendations
  • Support levels: 1.30850, 1.30500, 1.30200
  • Resistance levels: 1.31250, 1.31500

If the price fixes above the resistance level of 1.31250, the USD/CAD quotes are expected to grow. The movement is tending to 1.31500-1.31750.

Alternative option. If the price fixes below the "mirror" support of 1.30850, it is necessary to consider sales of USD/CAD. The movement is tending to 1.30500-1.30300.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.051
  • Open: 110.986
  • % chg. over the last day: -0.04
  • Day's range: 110.901 – 111.463
  • 52 wk range: 104.56 – 114.74

The USD/JPY currency pair is growing. During today's trading session, the growth of quotes has exceeded 45 points. The trading instrument approached the key resistance of 111.500. The 111.200 mark is already a "mirror" support. We do not exclude the further growth of the USD/JPY currency pair. We recommend opening positions from the key levels.

Today, the news feed on the economy of Japan is calm.

USD/JPY

Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.

The MACD histogram has moved to the positive zone and continues to rise, which indicates the bullish sentiment.

Stochastic Oscillator is located in the overbought zone, the %K line is above the %D line, which gives a weak signal to buy USD/JPY.

Trading recommendations
  • Support levels: 111.200, 111.000, 110.750
  • Resistance levels: 111.500, 111.800

If the price fixes above the resistance level of 111.500, further growth of the USD/JPY quotes is expected. The movement is tending to 111.800-112.000.

An alternative may be decrease of the USD/JPY currency pair to the round level of 111.000.

by JustForex, 2018.09.04

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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