The Analytical Overview of the Main Currency Pairs on 2017.11.27

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.18474
  • Open: 1.19257
  • % chg. over the last day: +0.67
  • Day's range: 1.19119 – 1.19477
  • 52 wk range: 1.0341 – 1.2069

Last week, the US dollar appreciably weakened against the major currencies. The Fed's officials are concerned about low inflation. The growth of the EUR/USD quotations exceeded 150 points. The trading instrument has overcome and fixed above the key mark of 1.19000. At the moment, the price is testing the local resistance of 1.19450. The further growth of the EUR/USD currency pair is possible. We recommend paying attention to the US government bonds yield.

The news feed on 2017.11.27:

At 17:00 (GMT+2:00) the data on the sales of new housing in the US.

EUR/USD

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

The MACD histogram is located in the positive zone and continues to rise, indicating a bullish sentiment on EUR/USD.

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: 1.19100, 1.18500, 1.18000
  • Resistance levels: 1.19450, 1.20000

If the price fixes above the local resistance of 1.19450, we recommend considering buying EUR/USD. The movement is tending to the round level of 1.20000.

Alternative option. If the price fixes below the local support of 1.19100, you need to look for entry points to the market to open short positions. The target movement level is 1.18750-1.18500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33015
  • Open: 1.33210
  • % chg. over the last day: +0.20
  • Day's range: 1.33103 – 1.33396
  • 52 wk range: 1.1450 – 1.3618

On the GBP/USD currency pair, the bullish sentiment still prevails. At the moment, the trading instrument is consolidating. The key support and resistance levels are: 1.33100 and 1.33500. We do not exclude the further growth of GBP/USD. We recommend paying attention to the news feed on the US economy.

The publication of important economic reports from the UK is not planned.

GBP/USD

The indicators point to the power of buyers. The price has fixed above 50 MA and 200 MA.

The MACD histogram has moved to the positive zone and continues to rise, which signals an increase in the GBP/USD currency pair.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which also signals the purchase of GBP/USD.

Trading recommendations
  • Support levels: 1.33100, 1.32800, 1.32200
  • Resistance levels: 1.33500, 1.34000

If the price fixes above the resistance level of 1.33500, we recommend considering buying GBP/USD. The movement is tending to the round level of 1.34000.

Alternative option. If the price fixes below 1.33100, we expect a correction of GBP/USD. The target level of movement is 1.32800-1.32500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27073
  • Open: 1.27026
  • % chg. over the last day: -0.02
  • Day's range: 1.26904 – 1.27227
  • 52 wk range: 1.2059 – 1.3795

At the moment, the bearish sentiment prevails on USD/CAD. The trading tool is testing the local support of 1.26850. The mark 1.27150 is already a "mirror" resistance. The positions must be opened from these marks. Support for the Canadian dollar has a positive dynamics in the market of "black gold". We recommend you to pay attention to statistics on the US economy.

The news background on Canada's economy is calm today.

USD/CAD

The USD/CAD quotes have fixed below 50 MA and 200 MA, which signals the power of sellers.

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

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: 1.26850, 1.26500
  • Resistance levels: 1.27150, 1.27450

If the price fixes below the local support of 1.26850, you need to look for entry points to the market to open short positions. The movement is tending to 1.26500-1.26250.

Alternative option. If the price fixes above the "mirror" resistance level of 1.27150, we recommend considering buying USD/CAD. The movement is tending to 1.27450-1.27600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.194
  • Open: 111.522
  • % chg. over the last day: +0.30
  • Day's range: 111.156 – 111.692
  • 52 wk range: 99.53 – 118.67

At the moment, the USD/JPY currency pair is in a sideways trend. The key levels of support and resistance are still 111.150 and 111.550 respectively. The US dollar remains under pressure. In the near future, we do not exclude the continuation of a downward trend. Nevertheless, it is recommended to open positions from the key levels.

The news feed on Japan's economy is calm.

USD/JPY

The price tests 50 MA, which currently acts as a dynamic resistance.

The MACD histogram has begun to decline and moved to the negative zone, which signals a fall in USD/JPY.

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: 111.150, 111.000
  • Resistance levels: 111.550, 112.000, 112.600

If the price fixes below the level of 111.150, it is necessary to consider sales of USD/JPY. The movement is tending to 110.750-110.500.

Alternative option. If the price fixes above the resistance level of 111.550, we expect a correction of the USD/JPY currency pair. The movement is tending to the round level of 112.000.

by JustForex, 2017.11.27

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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