The Analytical Overview of the Main Currency Pairs on 2017.05.30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11702
  • Open: 1.11631
  • % chg. for the last day: -0.10
  • Day's range: 1.11095 – 1.11681
  • 52 wk range: 1.0366 – 1.1616

Today there are aggressive sales on EUR/USD. During the Asian trading session, the euro weakened against the US dollar by more than 50 points. The currency formed local support at the level of 1.11150. The mark 1.11600 is already a "mirror" resistance. We are waiting for data on inflation in Germany.

Today we recommend you to pay attention to the following events:
  • – Germany's consumer price index (15:00 GMT+3:00);
  • – the data on individuals' expenditures in the United States (15:30 GMT+3:00);
  • – the consumer confidence index in the US (17:00 GMT+3:00).
Прогноз по валютной паре EUR/USD

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

The MACD histogram is located in the negative zone and below the signal line, which also indicates a bearish sentiment on EUR/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which signals an increase in EUR/USD.

Торговые рекомендации
  • Support levels: 1.11150, 1.10800
  • Resistance levels: 1.11600, 1.12000

We expect the further decline in EUR/USD. If the price fixes below the local support 1.11150, we recommend considering sales. The immediate goal for taking profit is 1.10800-1.10700. When tracking a position, you must use a trailing stop.

Alternative option. If the statistics from Germany is positive, an upward trend towards 1.11600-1.11850 may develop on the EUR/USD currency pair.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28040
  • Open: 1.28391
  • % chg. for the last day: +0.21
  • Day's range': 1.27934 – 1.28409
  • 52 wk range: 1.1986 – 1.5020

The pound is under pressure due to rising political risks before the elections on the June 8. The latest opinion polls showed that the Conservative Party margin reduced to 6%. At the moment, the key trading range is 1.28000-1.28500.

The publication of important economic reports from the UK is not planned today.

Прогноз по валютной паре GBP/USD

The signals of the indicators are ambiguous. The price crossed 50 MA.

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

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

Trading recommendations
  • Support levels: 1.28000
  • Resistance levels: 1.28500, 1.28850, 1.29300

We still expect a downward trend on EUR/USD. If the price consolidates below the round level of 1.28000, we recommend looking for entry points to the market in order to open short positions. The movement is tending potentially to 1.27500.

Alternative option. If the EUR/USD quotes fix above resistance level 1.28500, it is necessary to consider purchases. The target movement level is 1.28850-1.29300.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.34465
  • Open: 1.34449
  • % chg. for the last day: +0.01
  • Dya's range: 1.34406 – 1.34800
  • 52 wk range: 1.2458 – 1.4692

The Canadian dollar is still in a sideway movement. The key levels of support and resistance are 1.34400 and 1.34900 respectively. At the moment, the technical pattern is ambiguous. The Canadian dollar is supported by the recovery of oil prices. At the same time, demand for the US dollar is at a fairly high level.

News background on Canada's economy:

  • – current account balance (15:30 GMT+3:00);
  • – Raw Materials Price Index (RMPI) (15:30 GMT+3:00).
Прогноз по валютной паре USD/CAD

Indicators do not send. The price is between 50 MA and 200 MA, which are strong dynamic levels of support and resistance.

The MACD histogram has fixed in the positive zone and above the signal line, which indicates the growth of the USD/CAD quotes.

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

Trading recommendations
  • Support levels: 1.34400, 1.33900
  • Resistance levels: 1.34900, 1.35400

Positions must be opened from key levels.

If the price consolidates below the 1.34400 mark, the bearish sentiment may prevail on the USD/CAD currency pair. The immediate goal for profit taking is 1.34000-1.33900.

Alternative option. If the USD/CAD quotes overcome the resistance level of 1.34900, it is necessary to consider purchases to the 1.35400 level.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.208
  • Open: 111.240
  • % chg. for the last day: +0.01
  • Day's range': 110.772 – 111.315
  • 52 wk range: 99.08 – 123.69

Trading was calm during the Asian session. There was no significant change in the USD/JPY exchange rate. At the moment, the currency is testing the round level of 111.000. The nearest resistance is at the level of 111.500. The market is waiting for additional drivers.

We recommend you to pay attention to statistics from the USA.

Прогноз по валютной паре USD/JPY

The USD/JPY quotations have fixed below 50 MA and 200 MA, which indicates the bearish sentiment.

The MACD histogram is in the negative zone and below the signal line, which signals a downward trend on USD/JPY.

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

Trading recommendations
  • Support levels: 110.900, 110.300
  • Resistance levels: 111.500, 112.000

If economic reports from the US are weak, sales on the USD/JPY currency pair may prevail. The movement is tending potentially to 110.300.

An alternative may be the growth of the USD/JPY quotations to the level of 111.500-111.750.

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.