The Analytical Overview of the Main Currency Pairs on 2018.01.30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.24237
  • Open: 1.23811
  • % chg. over the last day: -0.40
  • Day's range: 1.23474 – 1.23705
  • 52 wk range: 1.0492 – 1.2537

The US currency has been recovering some of the losses, as a result the EUR/USD currency pair has begun to decline. At the moment, the technical pattern is ambiguous. The trading instrument is testing local support of 1.23400. The EUR/USD quotes have the potential for further correction. Investors took a wait-and-see position before the Fed meeting. Positions need to be opened from the key support and resistance levels.

The news feed on 2018.01.30:

  • - The GDP statistics in Eurozone at 12:00 (GMT+2:00);
    - Consumer confidence index in the US at 17:00 (GMT+2:00).
EUR/USD

The price has fixed between 50 MA and 200 MA, which are strong dynamic support and resistance levels.

The MACD histogram is in the negative zone, below the signal line, which gives a strong signal to sell EUR/USD.

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

Trading recommendations
  • Support levels: 1.23400, 1.23000, 1.22400
  • Resistance levels: 1.23900, 1.24500, 1.25000

If the price fixes below the local support level of 1.23400, the EUR/USD currency pair is expected to decline. The movement is tending potentially to the round level of 1.23000.

Alternative option. If the price fixes above 1.23900, it is necessary to look for entry points to the market to open long positions. The movement is tending potentially to 1.24300-1.24500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.41395
  • Open: 1.40734
  • % chg. over the last day: -0.54
  • Day's range: 1.39857 – 1.40270
  • 52 wk range: 1.2106 – 1.4345

The British pound came under pressure due to the concerns about Brexit. As a result, the GBP/USD currency pair fell by more than 100 points. At the moment, the price is testing the support level of 1.39900. The GBP/USD quotes have the potential for further correction. Positions need to be opened from the key support and resistance levels.

The news feed on the UK economy is calm today. We recommend paying attention to the speech of the Governor of the Bank of England Carney.

GBP/USD

The price has fixed below 50 MA and 200 MA, which indicates a bearish sentiment.

The MACD histogram is in the negative zone, below the signal line, which signals to sell GBP/USD.

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

Trading recommendations
  • Support levels: 1.39900, 1.39400, 1.38600
  • Resistance levels: 1.40400, 1.41000, 1.41600

If the price fixes below the support level of 1.39900, we recommend considering sales of GBP/USD. The movement is tending potentially to 1.39400-1.39200.

Alternative option. If the price fixes above 1.40400, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.41000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23098
  • Open: 1.23421
  • % chg. over the last day: +0.19
  • Day's range: 1.23098 – 1.23557
  • 52 wk range: 1.2059 – 1.3795

During the Asian session, the USD/CAD currency pair rose against the strengthening of the US dollar. The Canadian dollar was under pressure due to fall in the "black gold" prices. The further growth of the USD/CAD quotes is not excluded. At the moment, the key trading range is 1.23600-1.23900. It is recommended to open positions if the price fixes above/below these marks.

The news feed on Canada's economy is calm.

USD/CAD

The price has fixed between 50 MA and 200 MA, which are strong dynamic support and resistance levels.

The MACD histogram is in the positive zone and continues to rise, which indicates a correction of the USD/CAD currency pair.

Stochastic Oscillator is located in the overbought zone, the %K line is crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.23600, 1.23300, 1.23000
  • Resistance levels: 1.23900, 1.24300, 1.24750

If the price fixes above the resistance level of 1.23900, further growth of the USD/CAD currency pair is expected. The movement is tending potentially to 1.24300-1.24500.

An alternative is the quotes fall to 1.23200-1.23000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.685
  • Open: 108.937
  • % chg. over the last day: +0.30
  • Day's range: 108.930 – 109.004
  • 52 wk range: 107.33 – 115.51

At the moment, the USD/JPY currency pair is in a sideways trend. The key support and resistance levels are 108.600 and 109.100, respectively. Investors expect additional drivers. The US currency is supported by the growth of the US government bonds yield. We recommend you to open positions from the key levels.

The news feed on Japan's economy is calm.

USD/JPY

The price is located near 50 MA, which is as a strong dynamic resistance at the moment.

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

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

Trading recommendations
  • Support levels: 108.600, 108.300, 108.000
  • Resistance levels: 109.100, 109.500, 110.000

If the price fixes below the support level of 108.600, the USD/JPY quotes are expected to decline. The movement is tending potentially to 108.300-108.000.

An alternative may be the growth of the USD/JPY currency pair to 109.500-109.700.

by JustForex, 2018.01.30

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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