The Analytical Overview of the Main Currency Pairs on 2017.06.30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13776
  • Open: 1.14390
  • % chg. over the last day: +0.54
  • Day' range: 1.14171 – 1.14455
  • 52 wk range: 1.0366 – 1.1616

During yesterday's trading, the US dollar continued to lose ground relative to the major world currencies. The growth of the EUR/USD quotations exceeded 0.50%. The currency formed a local resistance of 1.14450. The closest support is the mark of 1.13850. Comments of the head of the ECB still support the demand for the euro. We expect important economic reports from the EU and the US.

The economic calendar on 2017.06.30:

  • - A report on the labor market in Germany at 10:55 (GMT+3:00);
  • - The consumer price index in the Eurozone at 12:00 (GMT+3:00);
  • - Statistics on individuals' spendings in the US at 15:30 (GMT+3:00).
EUR/USD

At the moment, the signals of the indicators are ambiguous. The EUR/USD quotes have fixed above 50 MA and 200 MA, which indicates the strength of buyers.

The MACD histogram has begun to decline and is below the signal line, which signals a corrective movement on EUR/USD.

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

Trading recommendations
  • Support levels: 1.13850, 1.13350
  • Resistance levels: 1.14450

If the statistics from the EU is positive, the growth of the EUR/USD currency pair may continue. The movement is tending potentially to 1.14750-1.15000.

An alternative may be the correction EUR/USD to the level of 1.13500-1.13350.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29198
  • Open: 1.29955
  • % chg. over the last day: +0.64
  • Day's range: 1.29874 – 1.30295
  • 52 wk range: 1.1986 – 1.5020

Yesterday, the growth of GBP/USD continued. The UK currency strengthened against the US dollar by more than 90 points. At the moment, the key trading range is 1.29600-1.30400. The financial markets participants expect statistics on the UK GDP.

At 11:30 (GMT+3:00), the report on the country's GDP will be published.

GBP/USD

The price is above 50 MA and 200 MA, which indicates the power of buyers.

The MACD histogram has fixed in the positive area, 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 sends a signal to sell GBP/USD.

Trading recommendations
  • Support levels: 1.29600, 1.29000
  • Resistance levels: 1.30400

If the statistics from the UK is positive, further growth of the GBP/USD quotations is possible. The movement is tending potentially to 1.30750.

An alternative may be the correction on the GBP/USD currency pair to the round level of 1.29000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30261
  • Open: 1.29941
  • % chg. over the last day: -0.36
  • Day's range: 1.29708 – 1.30090
  • 52 wk range: 1.2458 – 1.4692

On the USD/CAD currency pair, the bearish sentiment continues to prevail. The Canadian dollar is still supported by the opportunity of tightening the monetary policy of the Central Bank and the oil price recovering. At the moment, the key trading range is 1.29700-1.30350. We expect economic reports from Canada.

At 15:30 (GMT+3:00) the data on Canada's GDP will be released.

USD/CAD

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

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

Stochastic Oscillator is located near the overbought zone, the %K line has crossed the %D line. The are no signals at the moment.

Trading recommendations
  • Support levels: 1.29700
  • Resistance levels: 1.30350, 1.31300

If the statistics from Canada is upbeat, the downward trend in USD/CAD may continue. The target level of movement is 1.29400-1.29250.

An alternative may be the correction on the USD/CAD currency pair to 1.30500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.282
  • Open: 112.137
  • % chg. over the last day: -0.27
  • Day's range: 111.726 – 112.160
  • 52 wk range: 99.08 – 123.69

Yesterday the USD/JPY currency pair held 112.850 resistance level, which triggered aggressive sales in the second half of the day. Today in the Asian session, the trading was calm. At the moment, the technical pattern is ambiguous. The following key levels of support and resistance can be identified: 111.800 and 112.150, respectively. It is better to open positions from these marks.

We recommend paying attention to the news background on the US economy.

USD/JPY

The price is between 50 MA and 200 MA, which act as strong dynamic levels of support and resistance.

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

Stochastic Oscillator is located near the overbought zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 111.800, 111.400
  • Resistance levels: 112.150, 112.850

If the price consolidates below the local support of 111.800, the correction on USD/JPY may continue. The immediate goal for profit-taking is 111.400.

Alternative option. If the USD/JPY quotes overcome the level of 112.150, we recommend considering buying. The movement is tending potentially to 112.450-112.850.

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.