The Analytical Overview of the Main Currency Pairs on 2017.12.26

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.18727
  • Open: 1.18609
  • % chg. over the last day: +0.10
  • Day's range: 1.18550 – 1.18755
  • 52 wk range: 1.0341 – 1.2069

Last week the US dollar weakened slightly relative to the majors. At the moment, trading activity declined due to the holidays. Investors fix their positions before the end of the year. The key trading range on the EUR/USD currency pair is 1.18550-1.1800. It is recommended to open positions if the price fixes above/below these marks. We are waiting for statistics from the USA.

At 17:00 (GMT+2:00) the index of consumer confidence will be published.

EUR/USD

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

The MACD histogram is in the positive zone and above the signal line, which signals a bullish sentiment on EUR/USD.

Stochastic Oscillator is located in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.18550, 1.18200, 1.17800
  • Resistance levels: 1.18800, 1.19000

If the price fixes above the 1.18800 mark, we recommend considering buying EUR/USD. The movement is tending to 1.19000-1.19250.

Alternative option. If the price fixes below the support level of 1.18550, you need to look for entry points to the market to open short positions. The movement is tending to 1.18200-1.18000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33832
  • Open: 1.33530
  • % chg. over the last day: -0.11
  • Day's range: 1.33530 – 1.33788
  • 52 wk range: 1.1450 – 1.3618

The GBP/USD currency pair has been moving in a sideways trend for quite some time. The technical pattern is still ambiguous. Investors expect additional drivers. The key support and resistance levels are 1.33550 and 1.33850 respectively. The positions must be opened from these marks. We are waiting for statistics from the USA.

The news feed on the UK economy is calm today.

GBP/USD

Indicators do not send accurate signals. The price has crossed 50 MA and 200 MA.

The MACD histogram is located near the 0 mark.

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: 1.33550, 1.33100
  • Resistance levels: 1.33850, 1.34100, 1.34550

If the statistic from the US is positive, we recommend considering selling GBP/USD. The movement is tending to 1.33500-1.33250.

An alternative may be the growth of GBP/USD to 1.34000-1.34200.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27389
  • Open: 1.26997
  • % chg. over the last day: -0.11
  • Day's range: 1.26906 – 1.27340
  • 52 wk range: 1.2059 – 1.3795

Last week, the Canadian dollar strengthened significantly against the US dollar. The fall in the USD/CAD quotations exceeded 150 points. At the moment, the trading instrument is consolidating in the range of 1.27000-1.27250. In the near future, a technical correction is not ruled out. Positions must be opened from the key levels. We expect economic reports from the USA.

The news feed on Canada's economy is calm.

USD/CAD

The price has fixed below 50 MA and 200 MA, which signals the power of sellers.

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

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

Trading recommendations
  • Support levels: 1.27000, 1.26500
  • Resistance levels: 1.27250, 1.27500, 1.28000

If the price fixes below the round level of 1.27000, it is necessary to consider sales of USD/CAD. The movement is tending to 1.26500.

Alternative option. If the price fixes above the level of 1.27250, the correction of the USD/CAD currency pair is expected. The movement is tending to 1.27500-1.27750.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.324
  • Open: 113.073
  • % chg. over the last day: -0.03
  • Day's range: 113.073 – 113.353
  • 52 wk range: 99.53 – 118.67

On the USD/JPY currency pair there was an ambiguous technical pattern. The trading instrument is consolidating. The key levels are support - 113.250; resistance - 113.500. The positions must be opened from these marks. We are waiting for statistics on the US economy. We recommend paying attention to the dynamics of the US government bonds yield.

In the Asian trading session, Japan published quite optimistic economic reports.

USD/JPY

The price has fixed between 50 MA and 200 MA, which are strong dynamic levels of support and resistance.

The MACD histogram does not provide accurate signals. The indicator is located near the 0 mark.

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

Trading recommendations
  • Support levels: 113.250, 112.800, 112.500
  • Resistance levels: 113.500, 113.700, 114.000

If the statistics from the US is optimistic, the bullish sentiment may prevail on the USD/JPY currency pair. The movement is tending to 113.500-113.700.

Alternatively, USD/JPY may drop to the level of 113.000-112.800.

by JustForex, 2017.12.26

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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