The Analytical Overview of the Main Currency Pairs on 2018.03.28

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.24492
  • Open: 1.24016
  • % chg. over the last day: -0.27
  • Day's range: 1.23834 – 1.24216
  • 52 wk range: 1.0492 – 1.2537

Yesterday, the EUR/USD currency pair kept the local offer zone of 1.24600-1.24750, which caused the bearish sentiment. Demand for the US dollar has begun to recover. At the moment, the trading instrument is in a sideways trend. The key support and resistance levels are 1.23750 and 1.24200 respectively. Today, the attention is focused on economic reports from the United States. Positions must be opened from the key levels.

The news feed on the US economy on 2018.03.28:
  • - The GDP data at 15:30 (GMT+3:00);
  • - The index of pending sales in the real estate market at 17:00 (GMT+3:00).
EUR/USD

Indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA.

The MACD histogram has moved to the negative zone, which indicates a correction of the EUR/USD currency pair.

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: 1.23750, 1.23300, 1.23000
  • Resistance levels: 1.24200, 1.24600

If the price fixes below the support level of 1.23750, further correction of the EUR/USD quotes is expected. The movement is tending to 1.23300-1.23000.

Alternative option. If the price fixes above 1.24200, you need to look for entry points to the market to open long positions. The movement is tending to 1.24600-1.24750.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.42253
  • Open: 1.41518
  • % chg. over the last day: -0.36
  • Day's range: 1.41518 – 1.42004
  • 52 wk range: 1.2106 – 1.4345

Yesterday the aggressive sales of GBP/USD were observed. The drop in quotations exceeded 140 points. During the American and Asian trading sessions, the pound recouped most of the losses. At the moment, the GBP/USD quotes are consolidating in the range of 1.41500-1.41900. Investors expect statistics from the US. The trading instrument is tending to reduce. We recommend opening positions from the key levels.

The news feed on the UK economy is calm.

GBP/USD

Indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA.

The MACD histogram is near the 0 mark.

Осциллятор стохастик расположен в нейтральной зоне, линия %К ниже линии %D, что сигнализирует о медвежьих настроениях на GBP/USD.Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which signals the bearish sentiment for GBP/USD.

Trading recommendations
  • Support levels: 1.41500, 1.41000
  • Resistance levels: 1.41900, 1.42400

If the price fixes below 1.41500, it is necessary to consider sales of GBP/USD. The movement is tending potentially to 1.41000-1.40650.

Alternative option. If the price fixes above the "mirror" resistance of 1.41900, the growth of the GBP/USD currency pair is expected. The movement is tending to 1.42300-1.42500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28434
  • Open: 1.28853
  • % chg. over the last day: +0.31
  • Day's range: 1.28693 – 1.29067
  • 52 wk range: 1.2059 – 1.3795

The USD/CAD currency pair has been moving in a sideways trend for a long time. At the moment, the trading instrument is testing the round level of 1.29000. The local support is the mark of 1.28650. In the near future, the bullish sentiment may prevail on the USD/CAD currency pair. We expect statistical data from the USA. Positions must be opened from the key levels.

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 levels of support and resistance.

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

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

Trading recommendations
  • Support levels: 1.28650, 1.28350, 1.28000
  • Resistance levels: 1.29000, 1.29400, 1.29800

If the price fixes above the round level of 1.29000, the growth of the USD/CAD currency pair is expected. The movement is tending to 1.29400-1.29800.

An alternative may be the correction of the USD/CAD quotations to the level of 1.28350-1.28150.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 105.470
  • Open: 105.328
  • % chg. over the last day: -0.07
  • Day's range: 105.325 – 105.730
  • 52 wk range: 107.33 – 115.51

At the moment, the USD/JPY currency pair is being traded in the flat. Quotations are testing local support and resistance levels: 105.350 and 105.750, respectively. Positions must be opened above/below these markers. Participants of the financial markets expect economic reports from the United States. We recommend you to pay attention to the profitability of the US government bonds.

The news feed on Japan's economy is calm.

USD/JPY

Indicators do not send accurate signals. The price has 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 has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 105.350, 105.000, 104.700
  • Resistance levels: 105.750, 106.150, 106.550

If the price fixes above the resistance level of 105.750, USD/JPY is expected to rise. The movement is tending to 106.150-106.550.

Alternative option. If the price fixes below the 105.350 mark, it is necessary to consider selling USD/JPY. The target movement level is 105.000-104.700.

by JustForex, 2018.03.28

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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