The Analytical Overview of the Main Currency Pairs on 2018.07.31

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16570
  • Open: 1.17033
  • % chg. over the last day: +0.41
  • Day's range: 1.17022 – 1.17074
  • 52 wk range: 1.0571 – 1.2557

During yesterday's trading session, the bullish sentiment was observed on the EUR/USD currency pair. The growth of quotes exceeded 60 points. At the moment, the technical pattern is ambiguous: a trading instrument is in a sideways trend. The key support and resistance levels are 1.17000 and 1.17300, respectively. We recommend opening positions from these marks.

The news feed on 2018.07.31:
  • - German unemployment change at 10:55 (GMT+3:00);
  • - Consumer price index in the Eurozone at 12:00 (GMT+3:00);
  • - CB consumer confidence index in the US at 17:00 (GMT+3:00).
EUR/USD

Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy EUR/USD.

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

Trading recommendations
  • Support levels: 1.17000, 1.16700, 1.16400
  • Resistance levels: 1.17300, 1.17600

If the price fixes below the round level of 1.17000, we recommend considering sales of EUR/USD. The movement is tending to 1.16700-1.16400.

Alternative option. If the price fixes above the resistance level of 1.17300, the EUR/USD quotes are expected to rise. The movement is tending to 1.17600-1.17800.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31090
  • Open: 1.31359
  • % chg. over the last day: +0.20
  • Day's range: 1.31343 – 1.31452
  • 52 wk range: 1.2361 – 1.4345

There is a variety of trends on the GBP/USD currency pair. At the moment, the local support and resistance levels are 1.31200 and 1.31550, respectively. The positions should be opened from these marks. Investors expect the Bank of England interest rate decision, which will be taken on Thursday, August 2.

Today, the publication of important news from the UK is not expected.

GBP/USD

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

The MACD histogram is near the 0 mark.

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

Trading recommendations
  • Support levels: 1.31200, 1.30750, 1.30300
  • Resistance levels: 1.31550, 1.32000

If the price fixes below 1.31200, we recommend considering sales of GBP/USD. The movement is tending to 1.30750-1.32300.

Alternative option. If the price fixes above the resistance of 1.31550, the GBP/USD currency pair is expected to grow. The movement is tending to the round level of 1.32000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30515
  • Open: 1.30315
  • % chg. over the last day: -0.28
  • Day's range: 1.30322 – 1.30449
  • 52 wk range: 1.2059 – 1.3795

There is a variety of trends on the USD/CAD currency pair. Investors took a wait-and-see attitude before the Fed meeting, which will be held tomorrow, August 1. At the moment, the key support and resistance levels are 1.30200 and 1.30600, respectively. The positions should be opened from these marks. We recommend paying attention to the dynamics of oil quotes.

At 15:30 (GMT+3:00) data on Canada GDP will be published.

USD/CAD

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

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

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

Trading recommendations
  • Support levels: 1.30200, 1.29800
  • Resistance levels: 1.30600, 1.31000, 1.31500

If the price fixes below the support level of 1.30200, we recommend considering sales of USD/CAD. The movement is tending to 1.29800-1.29600.

If the price fixes above 1.30600, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.31000-1.31200.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.936
  • Open: 112.120
  • % chg. over the last day: +0.05
  • Day`s range: 110.919 – 110.994
  • 52 wk range: 104.56 – 114.74

The technical pattern on the USD/JPY currency pair is ambiguous. Quotes are still in a sideways trend. Investors expect additional drivers. At the moment, the trading instrument is moving in the range of 110.900-111.350. Positions should be opened from the key support and resistance levels. We recommend paying attention to the 10-year US government bonds yield.

Today, during the Asian trading session, the Bank of Japan meeting has taken place.

USD/JPY

Indicators do not send accurate signals: the price is being traded between 50 MA and 200 MA.

The MACD histogram is near the 0 mark.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates the USD/JPY quotes growth.

Trading recommendations
  • Support levels: 110.900, 110.600
  • Resistance levels: 111.350, 111.800, 112.200

If the price fixes below the support of 110.900, we recommend considering sales of USD/JPY. The movement is tending to 110.600-110.300.

Alternative option. If the price fixes above the level of 111.350, the USD/JPY currency pair is expected to grow. The movement is tending to 111.800-112.000.

by JustForex, 2018.07.31

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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