The Analytical Overview of the Main Currency Pairs on 2017.11.30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.18369
  • Open: 1.18462
  • % chg. over the last day: +0.09
  • Day's range: 1.18458 – 1.18758
  • 52 wk range: 1.0341 – 1.2069

On the EUR/USD currency pair there was an ambiguous technical pattern. At the moment, quotes are consolidating. The key levels of support and resistance are still 1.18500 and 1.18850 respectively. Support for the US currency is provided by positive economic reports. Participants of the financial markets are waiting for relevant information on the tax reform in the United States. We recommend paying attention to the US government bonds yield.

The news feed on 2017.11.30:
  • - A report on the German labor market at 10:55 (GMT+2:00);
  • - Preliminary data on inflation in the Eurozone at 12:00 (GMT+2:00);
  • - Statistics on personal income and spending in the US at 15:30 (GMT+2:00);
  • - The number of initial jobless claims in the US at 15:30 (GMT+2:00).
EUR/USD

The 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 signals the sale of EUR/USD.

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

If the price fixes below the support level of 1.18500, we recommend considering sales of EUR/USD. The movement is tending to the round level of 1.18000.

Alternative option. If the EUR/USD quotes overcome the level of 1.18850, it is necessary to search for entry points to open long positions. The target level of movement is 1.19450-1.19600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33344
  • Open: 1.34067
  • % chg. over the last day: +0.59
  • Day's range: 1.34067 – 1.34799
  • 52 wk range: 1.1450 – 1.3618

Yesterday, the UK currency rally continued. The growth of the GBP/USD quotations exceeded 70 points. The trading instrument formed a local resistance level of 1.34750. The mark 1.34350 is already a "mirror" support. In the near future, we do not rule out a technical correction. We recommend opening positions from the key levels. We expect economic reports from the USA.

Today, the news feed on the UK economy is calm.

GBP/USD

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

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

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which indicates a fall in GBP/USD.

Trading recommendations
  • Support levels: 1.34350, 1.33800, 1.33100
  • Resistance levels: 1.34750, 1.35000

If the price fixes below the level of 1.34350, we expect a correction of the GBP/USD currency pair. The movement is tending to 1.33800-1.33500.

Alternative option. If the price fixes above the local resistance of 1.34750, it is necessary to consider buying GBP/USD. The target level of movement is 1.35000-1.35250.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28163
  • Open: 1.28612
  • % chg. over the last day: +0.42
  • Day's range: 1.28840 – 1.28562
  • 52 wk range: 1.2059 – 1.3795

Since the beginning of the current week, a pronounced upward trend has been observed on the USD/CAD currency pair. Yesterday, the Canadian dollar weakened against the US dollar by more than 50 points. The trading instrument has the potential for further growth. At the moment the price is testing the local resistance of 1.28800. The 1.28350 level is already a "mirror" support. The attention is focused on the reports from the United States.

The news feed on the economy of Canada is quite calm.

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 an increase in the USD/CAD currency pair.

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: 1.28350, 1.28000, 1.27500
  • Resistance levels: 1.28800, 1.29000

If the USD/CAD quotes overcome the local resistance level of 1.28800, we recommend considering buying. The movement is tending to 1.29000-1.29400. When tracking positions, one should use a trailing stop.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.399
  • Open: 111.908
  • % chg. over the last day: +0.48
  • Day's range: 111.859 – 112.403
  • 52 wk range: 99.53 – 118.67

At the moment there are aggressive purchases of USD/JPY. The trading instrument worked out well for the classical figure of technical analysis "Triangle". The further growth of the USD/JPY currency pair is not excluded. The local resistance is 112.450. The round level of 112.000 is already a "mirror" support. We recommend you to pay attention to the economic reports and the US government bonds yield.

The news feed on the economy of Japan is rather calm.

USD/JPY

The 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 and continues to rise, which indicates a bullish sentiment on USD/JPY.

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

Trading recommendations
  • Support levels: 112.000, 111.650
  • Resistance levels: 112.450, 112.700, 113.000

If the price fixes above the local resistance of 112.450, we recommend considering buying USD/JPY. The movement is tending to 112.700-113.000.

by JustForex, 2017.11.30

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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