The Analytical Overview of the Main Currency Pairs on 2018.02.27

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22941
  • Open: 1.23164
  • % chg. over the last day: +0.18
  • Day's range: 1.23125 – 1.23176
  • 52 wk range: 1.0492 – 1.2537

At the moment, there is an ambiguous technical pattern on the EUR/USD currency pair. Investors took a wait-and-see attitude before the speech of the new Federal Reserve chairman, Jerome Powell. Financial markets participants hope to get any clues relative to the acceleration of the interest rate growth. The EUR/USD quotes are consolidating in the range of 1.23000-1.23400. We recommend you to open positions above/below these marks.

Economic reports from the US for 2018.02.27:

The press conference of the head of the Federal Reserve Bank of Germany Jerome Powell is in the focus of attention.

EUR/USD

Indicators do not send accurate signals. 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, which signals a bullish sentiment.

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

Trading recommendations
  • Support levels: 1.23000, 1.22600, 1.22200
  • Resistance levels: 1.23400, 1.23800, 1.24200

If the price fixes below the round level of 1.23000, the EUR/USD quotes are expected to decline. The target movement level is 1.22600-1.22200.

An alternative is the growth the EUR/USD quotes to 1.23800-1.24200.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.39871
  • Open: 1.39666
  • % chg. over the last day: -0.02
  • Day's range: 1.39610 – 1.39688
  • 52 wk range: 1.2106 – 1.4345

Yesterday, the GBP/USD currency pair held the key offer zone of 1.40500-1.40750, which caused aggressive sales. This movement was mostly caused by technical factors. At the moment, the support and resistance levels are: 1.39600 and 1.40000 respectively. We recommend you to open positions above/below these marks.

The news feed on the UK economy is calm today.

GBP/USD

The price is testing 50 MA and 200 MA.

The MACD histogram is close to 0. There are no signals.

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

Trading recommendations
  • Support levels: 1.39600, 1.39200, 1.38800
  • Resistance levels: 1.40000, 1.40400, 1.40800

If the price fixes above the round level of 1.40000, the GBP/USD currency pair is expected to grow. The movement is tending potentially to 1.40400-1.40800.

Alternative option. If the price fixes below the support level of 1.39600, it is necessary to consider sales of GBP/USD. The movement is tending potentially to 1.39200-1.38800.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26304
  • Open: 1.26801
  • % chg. over the last day: +0.44
  • Day's range: 1.26778 – 1.26866
  • 52 wk range: 1.2059 – 1.3795

Yesterday, there were purchases on the USD/CAD currency pair. The growth of quotes was almost 80 points. At the moment, the technical pattern is ambiguous. The trading instrument is in a sideways trend. The key support and resistance levels are: 1.26700 and 1.27000. The positions must be opened from these marks. We recommend you to pay attention to the economic reports from the United States, as well as to the speech of the new Federal Reserve chairman.

Today, the news feed on Canada's economy is calm.

USD/CAD

The price has fixed above 50 MA and 200 MA, which indicates a bullish sentiment.

The MACD histogram is located 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 crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.26700, 1.26300, 1.26000
  • Resistance levels: 1.27000, 1.27400, 1.27700

If the price fixes below 1.26700, the USD/CAD currency pair is expected to decline. The movement is tending potentially to the round level of 1.26000.

An alternative may be the growth of the USD/CAD quotes to the level of 1.27400-1.27700.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.113
  • Open: 106.903
  • % chg. over the last day: +0.17
  • Day's range: 106.899 – 107.010
  • 52 wk range: 107.33 – 115.51

Yesterday, a variety of trends was observed on the USD/JPY currency pair. At the moment, the USD/JPY quotes are being traded in the range of 106.850-107.150. Investors expect additional drivers. We recommend you to pay attention to the news feed and the dynamics of the US government bonds. Positions need to be opened from the key support and resistance levels.

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

USD/JPY

Indicators indicate the power of buyers. The price has fixed above 50 MA and 200 MA.

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

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which signals to buy USD/JPY.

Trading recommendations
  • Support levels: 106.850, 106.600, 106.200
  • Resistance levels: 107.150, 107.500, 107.800

If the price fixes below the support level of 106.850, the USD/JPY quotes are expected to fall. The movement is tending potentially to the level of 106.400-106.200.

Alternative option. If the price fixes above the resistance level of 107.150, it is necessary to consider purchases of USD/JPY. The target movement level is 107.500-107.800.

by JustForex, 2018.02.27

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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