The Analytical Overview of the Main Currency Pairs on 2018.06.06

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16989
  • Open: 1.17191
  • % chg. over the last day: +0.23
  • Day's range: 1.16832 – 1.17034
  • 52 wk range: 1.0571 – 1.2557

There is bullish sentiment on the EUR/USD currency pair. The key support and resistance levels are 1.17200 and 1.17600, respectively. The euro is strengthening against the US currency due to the introduction of duties on import by the US. The further growth of quotes is not excluded. We recommend opening positions from the key levels.

The news feed on 2018.06.06:
  • - Statistics on the US trade balance at 15:30 (GMT+3:00).
EUR/USD

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 above the signal line, which gives a strong signal to buy EUR/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also indicates the EUR/USD quotes growth.

Trading recommendations
  • Support levels: 1.17200, 1.16700, 1.16300
  • Resistance levels: 1.17600, 1.18000

If the price fixes above the resistance level of 1.17600, it is necessary to look for entry points to the market to open long positions. The movement is tending potentially to 1.18000-1.18200.

Alternative option. If the price fixes below the support level of 1.17200, the EUR/USD quotes are expected to decline. The target movement level is 1.16700-1.16500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33123
  • Open: 1.33802
  • % chg. over the last day: +0.71
  • Day's range: 1.33970 – 1.34261
  • 52 wk range: 1.2361– 1.4345

During yesterday's trading session, there were aggressive purchases on the GBP/USD currency pair. The growth of quotes exceeded 100 points. The trading instrument updated monthly highs after a publication of the index of economic activity in the services sector, which counted to 54.0 instead of the forecasted value of 52.9. The further growth of the GBP/USD currency pair is not ruled out. At the moment, the key support and resistance levels are 1.34000 and 1.34300. Positions should be opened from these marks.

The publication of important economic news from the UK is not expected.

GBP/USD

Indicator signals 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 gives a signal to buy GBP/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates the GBP/USD quotes growth.

Trading recommendations
  • Support levels: 1.34000, 1.33600, 1.33200
  • Resistance levels: 1.34300, 1.34800

If the price fixes above the resistance level of 1.34300, further growth of the GBP/USD quotes is expected. The movement is tending potentially to 1.34800-1.35000.

An alternative may be a correction of the currency pair to 1.33600-1.33300.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29266
  • Open: 1.29661
  • % chg. over the last day: +0.10
  • Day's range: 1.29616 – 1.29731
  • 52 wk range: 1.2059 – 1.3795

Yesterday, there was a variety of trends on the USD/CAD currency pair. At the moment, the technical pattern is ambiguous: the trading instrument is in a sideways trend. Investors expect additional drivers. The USD/CAD quotes are trading in the range of 1.29200-1.29600. Positions should be opened from the key support and resistance levels.

At 17:00 (GMT+3:00) Ivey purchasing managers index in Canada will be published.

USD/CAD

Indicators do not send accurate signals: the price crossed 50 MA and 200 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 signals to buy USD/CAD.

Trading recommendations
  • Support levels: 1.29200, 1.28800, 1.28400
  • Resistance levels: 1.29600, 1.30000, 1.30400

If the price fixes below 1.29200, the USD/CAD quotes are expected to decline. The movement is tending potentially to 1.28800-1.28600.

Alternative option. If the price fixes above the local resistance of 1.29600, we recommend looking for entry points to the market to open long positions. The movement is tending potentially to 1.30000-1.30200.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.799
  • Open: 109.778
  • % chg. over the last day: +0.07
  • Day's range: 109.776 – 109.836
  • 52 wk range: 104.56 – 114.74

The USD/JPY currency pair continues to show positive dynamics. At the moment, local support and resistance levels are 109.800 and 110.150, respectively. In the near future, further growth of the USD/JPY quotes is not excluded. Positions should be opened from the key levels. We recommend paying attention to the US government bonds yield.

The news feed on the economy of Japan is calm.

USD/JPY

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

The MACD histogram is in the positive zone, above the signal line, which gives a strong signal to buy USD/JPY.

Stochastic Oscillator is located in the neutral zone, the %K line is crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 109.800, 109.400, 109.000
  • Resistance levels: 110.150, 110.500

If the price fixes above the local resistance of 110.150, further growth of the USD/JPY currency pair is expected. The movement is tending potentially to 110.500-110.700.

Alternative option. If the price fixes below the support of 109.800, it is necessary to consider sales of USD/JPY. The movement is tending potentially to 109.400-109.200.

by JustForex, 2018.06.06

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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