The analytical overview of the main currency pairs on 2017.11.13

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16385
  • Open: 1.16578
  • % chg over the last day: +0.20
  • Days range: 1.16374 – 1.16648
  • 52 wk range: 1.0341 – 1.2069

Last week, trading on the major currency pairs was quite calm. The euro strengthened slightly against the US dollar. Nevertheless, demand for the US currency remains. At the moment EUR/USD is in a sideways trend. The technical pattern is ambiguous. The key support and resistance levels are 1.16300 and 1.16600, respectively. It is recommended to open positions if the price fixes above/below these marks.

Today, the publication of important economic reports is not planned.

EUR/USD

Indicators do not send accurate signals. The price crossed 50 MA and 200 MA.

The MACD histogram is located near the 0 mark.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which signals the sale of EUR/USD.

Trading recommendations
  • Support levels: 1.16300, 1.16000, 1.15800
  • Resistance levels: 1.16600, 1.16850

If the price fixes below the mark of 1.16300, we recommend considering sales of EUR/USD. The movement is tending potentially to 1.16000-1.15800.

Alternative option. If the EUR/USD quotes overcome local resistance of 1.16600, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.16850-1.17000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31454
  • Open: 1.31665
  • % chg over the last day: +0.20
  • Days range: 1.30805 – 1.31800
  • 52 wk range: 1.1450 – 1.3618

At the moment, sales prevail on the GBP/USD currency pair. The growth of political risks in the UK puts pressure on the pound. There was information that some officials were in favor of the beforehand dismission of the British Prime Minister Theresa May. The price is testing the local support of 1.30850. The trading instrument has the potential to further reduce.

Today, there are no important economic reports from the UK.

GBP/USD

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

The MACD histogram is in the negative zone and continues to decline, which signals a bearish sentiment on the GBP/USD currency pair.

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

Trading recommendations
  • Support levels: 1.30850, 1.30400
  • Resistance levels: 1.31250, 1.31750, 1.32200

If the price fixes below the local support of 1.30850, we recommend considering sales of GBP/USD. The immediate goal for profit taking is 1.30400. When tracking a position, one should use a trailing stop.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26816
  • Open: 1.26867
  • % chg over the last day: +0.01
  • Days range: 1.26750 – 1.27050
  • 52 wk range: 1.2059 – 1.3795

The current technical pattern on USD/CAD indicates the development of an upward trend. The price kept the local support of 1.26700. At the moment, USD/CAD is testing a round level of 1.27000. The trading instrument has the potential to grow. The US dollar is supported by the positive dynamics of the US government bonds yield.

Today, the news background on Canada's economy is calm.

USD/CAD

The price has fixed above 50 MA, which is currently quite strong dynamic support.

The MACD histogram has begun to rise and moved to the positive zone, which signals "bullish" sentiment on USD/CAD.

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

Trading recommendations
  • Support levels: 1.26700, 1.26000
  • Resistance levels: 1.27000, 1.27350, 1.27750

If the USD/CAD quotes fix above the round level of 1.27000, we recommend looking for entry points to the market to open long positions. The movement is tending potentially to 1.27350-1.27750.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.462
  • Open: 113.493
  • % chg over the last day: +0.05
  • Days range: 113.251 – 113.751
  • 52 wk range: 99.53 – 118.67

The USD/JPY currency pair is being traded for a long time in a sideways trend. The technical pattern is still ambiguous. At the moment, the key support and resistance levels are 113.400 and 113.750, respectively. Investors expect additional drivers. We recommend you to open positions from key levels.

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

USD/JPY

Indicators do not send accurate signals. The price crossed 50 MA.

The MACD histogram is near 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: 113.400, 113.000
  • Resistance levels: 113.750, 114.000, 114.250

If the price fixes below the level of 113.400, we recommend looking for entry points to the market to open short positions. The movement is tending potentially to the round level of 113.000.

Alternative option. If the price fixes above the level of 113.750, it is necessary to consider purchases of USD/JPY. The target movement level 114.000-114.250.

by JustForex, 2017.11.13

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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.