The Analytical Overview of the Main Currency Pairs on 2018.09.28

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.17362
  • Open: 1.16402
  • % chg. over the last day: -0.89
  • Day's range: 1.16231 – 1.16284
  • 52 wk range: 1.0571 – 1.2557

Aggressive sales are observed on the EUR/USD currency pair. Yesterday, the decline in quotes exceeded 150 points. The US currency is supported by an increase in the Fed interest rate, as well as data on the US GDP. At the moment, the key support and resistance levels are 1.16150 and 1.16500, respectively. We recommend opening positions from these marks. The EUR/USD currency pair has the potential for further decrease.

The news feed on 2018.09.28:
  • - German unemployment change at 10:55 (GMT+3:00);
  • - Consumer price index in the Eurozone at 12:00 (GMT+3:00);
EUR/USD

Indicators point to the power of sellers: the price has fixed below 50 MA and 200 MA.

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

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.

Trading recommendations
  • Support levels: 1.16150, 1.15800
  • Resistance levels: 1.16500, 1.16850, 1.17200

If the price fixes below the support level of 1.16150, the EUR/USD quotes are expected to fall. The movement is tending to 1.15800-1.15500.

An alternative may be the growth of the EUR/USD currency pair to the level of 1.16750-1.17000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31653
  • Open: 1.30730
  • % chg. over the last day: -0.71
  • Day's range: 1.30607 – 1.30745
  • 52 wk range: 1.2361 – 1.4345

Yesterday, the bearish sentiment was observed on the GBP/USD currency pair. The decrease in quotes exceeded 100 points. The current technical pattern signals a further fall in quotes. The key support and resistance levels are: 1.30550 and 1.30900, respectively. The positions should be opened from these marks.

At 11:30 (GMT+3:00) data on the UK GDP will be published.

GBP/USD

Indicators point to the power of sellers: the price has fixed below 50 MA and 200 MA.

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

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

Trading recommendations
  • Support levels: 1.30550, 1.30300
  • Resistance levels: 1.30900, 1.31300, 1.31650

If the price fixes below the support level of 1.30550, the GBP/USD quotes are expected to fall. The movement is tending to 1.30300-1.30000.

An alternative may be the growth of the GBP/USD currency pair to 1.31200-1.31400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30188
  • Open: 1.30409
  • % chg. over the last day: +0.13
  • Day's range: 1.30107 – 1.30299
  • 52 wk range: 1.2059 – 1.3795

There is a variety of trends on the USD/CAD currency pair. At the moment, quotes have been declining. We expect statistics on Canada GDP. The round level of 1.30000 is the key support. The 1.31300 mark is already a "mirror" resistance. We recommend looking for entry points to the market from these levels.

The news feed on 2018.09.28:
  • - Canada GDP data at 15:30 (GMT+3:00).
USD/CAD

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

The MACD histogram is near the 0 mark.

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

Trading recommendations
  • Support levels: 1.30000, 1.29700, 1.29300
  • Resistance levels: 1.30300, 1.30600. 1.30850

If the price fixes above the already "mirror" resistance level of 1.30300, the USD/CAD quotes are expected to grow. The movement is tending to 1.30600-1.30850.

Alternative option. If the price fixes below 1.30000, we recommend looking for entry points to the market to open short positions. The target level for profit-taking is 1.29700-1.29300.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.714
  • Open: 113.360
  • % chg. over the last day: +0.59
  • Day's range: 113.401 – 113.432
  • 52 wk range: 104.56 – 114.74

Yesterday, the bullish sentiment was observed on the USD/JPY currency pair. The growth of quotes was almost 100 points. At the moment, quotes are consolidating. Local support and resistance levels are: 113.250 and 113.550, respectively. The positions should be opened from these marks. The trading instrument has the potential for further growth.

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

USD/JPY

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

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

Trading recommendations
  • Support levels: 113.250, 112.900, 112.550
  • Resistance levels: 113.550, 114.000

If the price fixes below the local support of 113.250, correction movement is expected. The movement is tending to 112.900-112.700.

An alternative may be the USD/JPY quotes growth to the level of 113.800-114.000.

by JustForex, 2018.09.28

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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