The Analytical Overview of the Main Currency Pairs on 2018.03.12

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23099
  • Open: 1.23105
  • % chg. over the last day: -0.04
  • Day's range: 1.23164 – 1.23408
  • 52 wk range: 1.0492 – 1.2537

On Thursday, the EUR/USD currency pair weakened after the ECB President Mario Draghi statements that the basic inflation of the Eurozone remains weak. The quotes fell by more than 100 points. At the moment, the trading instrument is in a flat. Investors expect additional drivers. The key support and resistance levels are: 1.23150 and 1.23450, respectively. The positions should be opened from these marks.

Today, no important news is expected.

EUR/USD

Indicators don’t show accurate signals. The price crossed 50 MA and 200 MA.

The MACD histogram is near the 0 mark. There are no signals at the moment.

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

Trading recommendations
  • Support levels: 1.23150, 1.22800, 1.22400
  • Resistance levels: 1.23450, 1.23800, 1.24200

If the price fixes below 1.23150, EUR/USD is expected to decline. The movement is tending potentially to 1.22800-1.22400.

Alternative option. If the price fixes above resistance 1.23450, it is necessary to look for entry points to the market to open long positions. The movement is tending potentially to 1.23800-1.24200.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.38060
  • Open: 1.38515
  • % chg. over the last day: +0.27
  • Day's range: 1.38674 – 1.38704
  • 52 wk range: 1.2106 – 1.4345

On Friday, there were purchases on the GBP/USD pair. At the moment, the technical pattern is ambiguous. The financial markets participants expect additional drivers. The key support and resistance levels are: 1.38500 and 1.38800, respectively. The positions should be opened from these marks.

The news feed on the UK economy is calm.

GBP/USD

The price has fixed above 50 MA and 200 MA, which indicates a bullish sentiment.

The MACD histogram is in the positive zone, above the signal line, which signals to buy GBP/USD.

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

Trading recommendations
  • Support levels: 1.38500, 1.38200, 1.37800
  • Resistance levels: 1.38800, 1.39100, 1.39400

If the price fixes above the resistance level of 1.38800, the GBP/USD currency pair is expected to grow. The movement is tending potentially to 1.39100-1.39400.

Alternative option. If the price fixes below 1.38500, it is necessary to consider sales of GBP/USD. The movement is tending potentially to 1.38200-1.37800.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29030
  • Open: 1.28075
  • % chg. over the last day: -0.65
  • Day's range: 1.28105 – 1.28232
  • 52 wk range: 1.2059 – 1.3795

On Friday, there was a bearish sentiment on the USD/CAD. On Thursday, Donald Trump signed a soft version of the decree on the introduction of imports duties on steel and aluminum in the US, after which the sentiment in the markets improved.The import duties on steel and aluminum were introduced at the level of 25% and 10%, respectively, but the president made an exception for Canada and Mexico. This caused the Canadian dollar strengthening. At the moment, the key support and resistance levels are: 1.28000 and 1.28400, respectively. We recommend you to open positions above/below these marks.

The news feed on Canada's economy is calm.

USD/CAD

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

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

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

Trading recommendations
  • Support levels: 1.28000, 1.27700, 1.27400
  • Resistance levels: 1.28400, 1.28800, 1.29200

If the price fixes below the round level of 1.28000, the USD/CAD currency pair is expected to decline. The movement is tending potentially to 1.27700-1.27400.

An alternative may be the growth of the USD/CAD quotes to the level of 1.28800-1.29200.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.234
  • Open: 106.762
  • % chg. over the last day: +0.56
  • Day's range: 105.459 – 105.598
  • 52 wk range: 107.33 – 115.51

There is a variety of trends on the USD/JPY currency pair. On Friday, the Bank of Japan, as expected, kept the monetary policy unchanged. The regulator said that inflation remained below the target level, because of which the financial incentives would continue. At the moment, the technical pattern is ambiguous. The key support and resistance levels are: 106.400 and 106.700, respectively. We recommend you to open positions from these levels.

The news feed on Japan's economy is calm.

USD/JPY

Indicators don’t show accurate signals. The price crossed 50 MA.

The MACD histogram is located near 0 zone.

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

Trading recommendations
  • Support levels: 106.400, 106.000, 105.700
  • Resistance levels: 106.700, 107.000, 107.300

If the price fixes below the support level of 106.400, the USD/JPY quotes are expected to decline. The movement is tending potentially to 106.000-105.700.

Alternative option. If the price fixes above the 106.700 mark, it is necessary to consider purchases of USD/JPY. The target movement level is 107.000-107.300.

by JustForex, 2018.03.12

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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