The Analytical Overview of the Main Currency Pairs on 2017.11.28

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.19257
  • Open: 1.18919
  • % chg. over the last day: -0.20
  • Day's range: 1.18853 – 1.19109
  • 52 wk range: 1.0341 – 1.2069

Yesterday, the US currency recouped some of the losses. Support was provided by positive data on the real estate market in the United States. In the near future, further correction of the EUR/USD quotes is possible. At the moment, the trading instrument is consolidating in the range of 1.18850-1.19100. Participants of the financial markets are waiting for the speeches of the Fed's officials. We recommend opening positions from the key levels.

Economic reports from the USA:
  • - The balance of foreign trade in goods at 15:30 (GMT+2:00);
  • - The consumer confidence index at 17:00 (GMT+2:00).
EUR/USD

Indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA, which are strong dynamic levels of support and resistance.

The MACD histogram has moved to the negative zone and continues to decline, which indicates a drop in EUR/USD.

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

Trading recommendations
  • Support levels: 1.18850, 1.18500, 1.18000
  • Resistance levels: 1.19100, 1.19450

If the price fixes below 1.18850, the correction of the EUR/USD currency pair is expected. The movement is tending to 1.18500-1.18250.

Alternative option. If the price fixes above the local resistance of 1.19100, it is necessary to consider buying EUR/USD. The movement is potentially tending to the local offer zone of 1.19450-1.19600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33210
  • Open: 1.33075
  • % chg. over the last day: -0.02
  • Day's range: 1.33075 – 1.33577
  • 52 wk range: 1.1450 – 1.3618

At the moment, there is a mixed technical pattern on the GBP/USD currency pair. The trading instrument is in a sideways trend. The key levels of support and resistance are still 1.33100 and 1.33500, respectively. Positions should be opened if the price fixes above/below these markers. We expect economic reports from the USA.

We recommend you to pay attention to the report on financial stability from the Bank of England.

GBP/USD

The indicators do not send accurate signals. The price has crossed 50 MA.

The MACD histogram is near 0 mark.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which sends a signal to sell 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 looking for entry points to the market to open long positions. The movement is tending to 1.33800-1.34000.

Alternative option. If the price fixes below 1.33100, it is necessary to consider sales of GBP/USD. The movement is tending to 1.32800-1.32500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27026
  • Open: 1.27697
  • % chg. over the last day: +0.34
  • Day's range: 1.27542 – 1.27765
  • 52 wk range: 1.2059 – 1.3795

Yesterday, the USD/CAD currency pair kept the support level of 1.26850, which triggered aggressive purchases. The Canadian dollar weakened against the US dollar by more than 75 points. The trading instrument found resistance at 1.27750. The mark 1.27450 is already a "mirror" support. The USD/CAD currency pair has the potential for further growth. Investors expect the speech of the Bank of Canada head Poloz.

We recommend paying attention to the news feed on the US economy.

USD/CAD

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

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

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: 1.27450, 1.27150, 1.26850
  • Resistance levels: 1.27750, 1.28150

If the price fixes above the local resistance of 1.27750, further growth of the USD/CAD quotes is expected. The movement is tending to 1.28150-1.28350.

Alternative option. If the price fixes below the "mirror" support level of 1.27450, we recommend considering selling USD/CAD. The movement is tending to 1.27150-1.27000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.522
  • Open: 111.247
  • % chg. over the last day: -0.47
  • Day's range: 110.931 – 111.325
  • 52 wk range: 99.53 – 118.67

Yesterday the USD/JPY currency pair held a round level of 111.000. At the moment, the price is testing local resistance at 111.350. In the near future, a technical correction is possible after a significant decline in the past two weeks. We recommend paying attention to the government bonds yield and statistics on the US economy.

The news feed on Japan's economy is calm.

USD/JPY

The signals of the indicators are ambiguous. The price has crossed 50 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 gives a signal to buy USD/JPY.

Trading recommendations
  • Support levels: 111.000, 110.500
  • Resistance levels: 111.350, 111.650, 112.000

If the price fixes above the local resistance of 111.350, we expect a corrective movement. The target level is 111.650-112.000.

Alternative option. If the price fixes below the round level of 111.000, it is necessary to consider sales of USD/JPY. The movement is tending to 110.500.

by JustForex, 2017.11.28

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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