The Analytical Overview of the Main Currency Pairs on 2017.06.15

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12077
  • Open: 1.12172
  • % chg. over the last day: +0.02
  • Day's range: 1.11801 – 1.12288
  • 52 wk range: 1.0366 – 1.1616

Yesterday's trading on EUR/USD was very active. In the European session, there was a sharp drop in the US dollar against the basket of world currencies. This is due to the publication of weak statistics on retail sales and consumer prices. At the same time, the US Fed raised the key interest rate to 1.00-1.25%. The Central Bank noted the stability of the country's economy. In the near future, the regulator intends to begin cutting assets on its balance sheet. In the US trading session, demand for the US dollar has grown significantly. At the moment the bearish sentiment prevails on EUR/USD. The closest support is the 1.11800 mark.

The economic calendar on 2017.06.15:

  • - The balance of visible trade in the Eurozone at 12:00 (GMT+3:00);
  • - The number of initial claims for unemployment benefits in the US at 15:30 (GMT+3:00);
  • - The index of production activity from the Federal Reserve Bank of Philadelphia at 15:30 (GMT+3:00).
EUR/USD

Indicators point to the power of sellers. The price has fixed below 50 MA and 200 MA.

The MACD histogram has begun to decline and moved to the negative zone, which indicates a bearish sentiment on EUR/USD.

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

Trading recommendations
  • Support levels: 1.11800
  • Resistance levels: 1.12250, 1.12500, 1.12800

We expect a downward trend in EUR/USD. If the price fixes below the support level of 1.11800, we recommend you to look for entry points to the market in order to open short positions. The movement is tending potentially to 1.11500-1.11250. When tracking positions, one should use a trailing stop.

Alternative option. If the EUR/USD quotes fix above the local resistance of 1.12250, it is necessary to consider purchases. The immediate goal for profit taking is 1.12500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27571
  • Open: 1.27436
  • % chg. over the last day: -0.01
  • Day's range: 1.27224 – 1.27599
  • 52 wk range: 1.1986 – 1.5020

Yesterday, the trading activity was high on GBP/USD. However, there was no unidirectional trend. The currency tested key support and resistance levels: 1.27250 and 1.28000, respectively. At the moment, the technical pattern is ambiguous. The attention of investors is directed to the meeting of the Bank of England.

Today, we expect many important economic reports from the UK:

  • - Statistics on retail sales at 11:30 (GMT+3:00);
  • - The decision on the interest rate of the Bank of England and the minutes of the Committee on Monetary Policy meeting at 14:00 (GMT+3:00).
GBP/USD

The price is near 50 MA, which acts as a rather strong dynamic resistance.

The MACD histogram has begun to decline and moved to the negative zone, indicating a fall in GBP/USD.

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

Trading recommendations
  • Support levels: 1.27250, 1.26500
  • Resistance levels: 1.28000, 1.28700

We recommend reducing risks when opening positions.

If economic reports from Britain turn out to be weak, sales may prevail on the GBP/USD currency pair. The closest target for profit taking is the support level of 1.26500.

The alternative may be the growth of GBP/USD to the level of 1.28000-1.28500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32357
  • Open: 1.32394
  • % chg. over the last day: +0.04
  • Day' range: 1.32247 – 1.32572
  • 52 wk range: 1.2458 – 1.4692

Yesterday, the USD/CAD currency pair held the local support at 1.31800, which triggered aggressive purchases in the second half of the day. At the moment, the technical pattern indicates a possible correction. The price is testing the local resistance level of 1.32450. The negative dynamics in the market of "black gold" put pressure on the Canadian dollar.

The news background on Canada's economy is quite calm today. At 15:30 (GMT+3:00) the data on the volume of sales in the manufacturing sector of the country will be published.

USD/CAD

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

The MACD histogram is located near the 0 mark.

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

Trading recommendations
  • Support levels: 1.31800
  • Resistance levels: 1.32450, 1.33000, 1.33500

We expect a corrective movement on USD/CAD. If the price fix above the level of 1.32450, we recommend considering buying. The closest goal for profit taking is the round level of 1.33000.

Alternative option. If the USD/CAD quotes overcome the local support of 1.31800, the downward trend may continue. The target level of movement is 1.31500-1.31250.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.041
  • Open: 109.550
  • % chg. over the last day: -0.45
  • Day's range: 109.258 – 109.805
  • 52 wk range: 99.08 – 123.69

During yesterday's trading, aggressive sales were observed on USD/JPY. At the same time, the decision of the Fed supported the US currency, which caused a correction of USD/JPY during the US session. At the moment, trading is calm. Investors are expecting a meeting of the Bank of Japan, which will be held on Friday, June 16. It is better to open positions from the key levels.

We recommend paying attention to the news line from the USA.

USD/JPY

The USD/JPY quotes have fixed below 50 MA and 200 MA, which indicate the power of sellers.

The MACD histogram has begun to rise and located above the signal line, which signals further correction of USD/JPY.

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: 109.150, 108.800
  • Resistance levels: 109.800, 110.250

If the price fix below the 109.500 mark, we recommend you to look for entry points to the market in order to open short positions. The target movement level is 109.150-108.800.

Alternative option. If the price fixes above the local resistance of 109.800, you need to consider buying. The immediate goal for profit taking is 110.250.

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.