The Analytical Overview of the Main Currency Pairs on 2018.08.27

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.15367
  • Open: 1.16160
  • % chg. over the last day: +0.73
  • Day's range: 1.15963 – 1.16111
  • 52 wk range: 1.0571 – 1.2557

On Friday, the bullish sentiment was observed on the EUR/USD currency pair. The growth of quotes was almost 100 points. Investors assess the comments by the Federal Reserve chairman at a symposium in Jackson Hole. The trade conflict between the US and China is still in the focus of attention. At the moment, local support and resistance levels are 1.15850 and 1.16300, respectively. We recommend opening positions from these marks. In the near future, technical correction is not ruled out.

The news feed on 2018.08.27:
  • - IFO business climate index in Germany at 11:00 (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 located in the positive zone, but below the signal line, which gives a weak signal to buy EUR/USD.

Stochastic Oscillator is in the oversold zone, the %K line crossed the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.15850, 1.15400, 1.15000
  • Resistance levels: 1.16300, 1.16700

If the price fixes above the resistance level of 1.16300, further growth of the EUR/USD currency pair is expected. The movement is tending to 1.16700-1.17000.

Alternative option. If the price fixes below the support level of 1.15850, we recommend considering sales of EUR/USD. The movement is tending to 1.15400-1.15000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28097
  • Open: 1.28370
  • % chg. over the last day: +0.36
  • Day's range: 1.28345 – 1.28517
  • 52 wk range: 1.2361 – 1.4345

On Friday, the GBP/USD quotes slightly strengthened. At the moment, the technical pattern is ambiguous. Investors expect additional drivers. Local support and resistance levels are 1.28200 and 1.28600, respectively. The positions should be opened from these marks. A trading instrument is tending to grow.

The financial markets of the UK are closed due to the holiday.

GBP/USD

Indicators do not send accurate signals: the price has crossed 50 MA.

The MACD histogram is near the 0 mark.

Stochastic Oscillator is located near the oversold zone, the %K line is below the %D line, which gives a weak signal to sell GBP/USD.

Trading recommendations
  • Support levels: 1.28200, 1.27800, 1.27400
  • Resistance levels: 1.28600, 1.29000, 1.29400

If the price fixes above 1.28600, the GBP/USD currency pair is expected to grow. The target movement level is 1.29000-1.29400.

Alternative option. If the price fixes below 1.28200, we recommend considering sales of GBP/USD. The target movement level is 1.27800-1.27400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30788
  • Open: 1.30135
  • % chg. over the last day: -0.41
  • Day's range: 1.30122 – 1.30245
  • 52 wk range: 1.2059 – 1.3795

On Friday, aggressive sales of USD/CAD were observed. The decrease in quotes was almost 100 points. At the moment, the trading instrument is recovering. Local support and resistance levels are 1.30100 and 1.30400, respectively. We recommend opening positions from these marks. The trading instrument has the potential for further fall.

The news feed on the economy of Canada is calm.

USD/CAD

The price has fixed below 50 MA and 200 MA, which indicates 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 reached the overbought zone, the %K line is above the %D line, which gives a weak signal to buy USD/CAD.

Trading recommendations
  • Support levels: 1.30100, 1.29850
  • Resistance levels: 1.30400, 1.30800, 1.31200

If the price fixes below 1.30100, further decrease of the USD/CAD quotes is expected. The movement is tending to 1.29850-1.29500.

Alternative option. If the price fixes above the resistance of 1.30400, it is necessary to consider purchases of USD/CAD. The movement is tending to 1.30700-1.30900.

The USD/JPY currency pair:

Technical indicators of the currency pair:
  • Prev Open: 111.229
  • Open: 111.314
  • % chg. over the last day: -0.06
  • Day's range: 111.117 – 111.156
  • 52 wk range: 104.56 – 114.74

On Friday, a variety of trends was observed on the USD/JPY currency pair. At the moment, the technical pattern is ambiguous. Investors expect additional drivers. The key support and resistance levels are 111.000 and 111.250, respectively. The positions should be opened from these marks. In the near future, a technical correction is not ruled out.

The news feed on the economy of Japan is calm.

USD/JPY

Indicators do not send accurate signals: the price is between 50 MA and 200 MA.

The MACD histogram has moved into the negative zone, which signals the power of sellers.

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

Trading recommendations
  • Support levels: 111.000, 110.700, 110.400
  • Resistance levels: 111.250, 111.500

If the price fixes above the resistance level of 111.250, it is necessary to consider purchases of USD/JPY. The movement is tending to 111.500-111.700.

Alternative option. If the price fixes below 111.000, the correction of the USD/JPY currency pair is expected. The movement is tending to 110.700-110.500.

by JustForex, 2018.08.27

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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