The Analytical Overview of the Main Currency Pairs on 2018.09.17

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16891
  • Open: 1.16224
  • % chg. over the last day: -0.51
  • Day's range: 1.16179 – 1.16366
  • 52 wk range: 1.0571 – 1.2557

On Friday, the bearish sentiment was observed on the EUR/USD currency pair. The decrease in quotes was almost 100 points. Federal Reserve officials said about the need for further tightening of monetary policy after the meeting in September, which increased demand for the American currency. At the moment, the trading instrument has been growing. The key support and resistance levels are 1.16300 and 1.16600, respectively. We recommend opening positions from these marks.

At 12:00 (GMT+3:00), the consumer price index will be published in the Eurozone.

EUR/USD

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

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

Stochastic Oscillator is located near the overbought zone, the %K line has crossed the %D line. There are no signals.

Trading recommendations
  • Support levels: 1.16300, 1.15900, 1.15500
  • Resistance levels: 1.16600, 1.17000, 1.17300

If the price fixes below 1.16300, further decline in the EUR/USD quotes is expected. The movement is tending to 1.15900-1.15700.

An alternative may be the growth of the EUR/USD currency pair to the level of 1.17000-1.17300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31061
  • Open: 1.30660
  • % chg. over the last day: -0.30
  • Day's range: 1.30729 – 1.30845
  • 52 wk range: 1.2361 – 1.4345

On Friday, the bearish sentiment was observed on the GBP/USD currency pair. The British pound weakened against contradictory news on Brexit. At the moment, the technical pattern is ambiguous. The key support and resistance levels are: 1.30600 and 1.31000, respectively. Positions should be opened from the key levels. In the near future, a technical correction is not ruled out.

The news feed on the UK economy is calm.

GBP/USD

Indicators do not send accurate signals: the price has crossed 50 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 indicates a decrease in quotes.

Trading recommendations
  • Support levels: 1.30600, 1.30100, 1.29500
  • Resistance levels: 1.31000, 1.31400

If the price fixes above the round level of 1.31000, the GBP/USD quotes are expected to rise. The movement is tending to 1.31400-1.31600.

An alternative may be the decrease of the GBP/USD currency pair to 1.30200-1.30400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29937
  • Open: 1.30292
  • % chg. over the last day: +0.27
  • Day's range: 1.30297 – 1.30324
  • 52 wk range: 1.2059 – 1.3795

On Friday, the bullish sentiment was observed on the USD/CAD currency pair. At the moment, the technical pattern is ambiguous. The trading instrument is consolidating. Financial market participants expect additional drivers. Local support and resistance levels are: 1.30200 and 1.30500, respectively. We recommend monitoring current information regarding NAFTA negotiations.

The news feed on the economy of Canada 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, but below the signal line, which gives a weak signal to buy USD/CAD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.

Trading recommendations
  • Support levels: 1.30200, 1.29850
  • Resistance levels: 1.30500, 1.30800, 1.31200

If the price fixes below the already "mirror" support of 1.30200, the USD/CAD quotes are expected to fall. The movement is tending to 1.29850-1.29500.

Alternative option. If the price fixes above 1.30500, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.30800-1.31000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.921
  • Open: 112.005
  • % chg. over the last day: +0.13
  • Day's range: 111.855 – 111.914
  • 52 wk range: 104.56 – 114.74

On Friday, there was a variety of trends on the USD/JPY currency pair. At the moment, the trading instrument is moving in flat. Local support and resistance levels are: 111.800 and 112.100, respectively. The positions should be opened from these marks. The trading instrument has the potential for further growth. We recommend paying attention to the US government bonds yield.

The financial markets of Japan are closed due to the holiday.

USD/JPY

Indicators do not send accurate signals: the price is testing 50 MA.

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

Stochastic Oscillator has started to move out the oversold zone, the %K line is above the %D line, which gives a signal to buy USD/JPY.

Trading recommendations
  • Support levels: 111.800, 111.550, 111.250
  • Resistance levels: 112.100, 112.500

If the price fixes above the resistance level of 112.100, the USD/JPY quotes growth is expected. The movement is tending to 112.500-112.750.

Alternative option. If the price fixes below the level of 111.800, we recommend looking for entry points to the market to open short positions. The target movement level is 111.550-111.250.

by JustForex, 2018.09.17

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.

Dapatkan Analisis Gratis

* bidang wajib diisi