The Analytical Overview of the Main Currency Pairs on 2017.06.26

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.11460
  • Open: 1.11967
  • % chg. over the last day: +0.37
  • Day's range: 1.11841 – 1.12079
  • 52 wk range: 1.0366 – 1.1616

Currently, the bullish sentiment prevails on the EUR/USD currency pair. The US dollar is under pressure amid growing uncertainty regarding further Fed's interest rate increase. The key trading range is 1.11750-1.12100. We expect statistics from Germany and the United States.

The news background on 2017.06.26:
  • – IFO business climate index at 11:00 (GMT+3:00);
  • – The report on orders for durable goods in the US at 15:30 (GMT+3:00).

Also at 20:30 (GMT+3:00), the head of the ECB Draghi will give a speech.

EUR/USD

Indicators point to the power of buyers. The price is above 50 MA and 200 MA.

The MACD histogram is located in the positive area and continues to rise, which indicates an increase in the EUR/USD currency pair.

Stochastic Oscillator has fixed in the neutral zone, the %K line is above the %D line, which also gives a signal to buy EUR/USD.

Trading recommendations
  • Support levels: 1.11750, 1.11400
  • Resistance levels: 1.12100, 1.12600

If the price fixes above the local resistance of 1.12100, we recommend considering buying EUR/USD. The movement is tending potentially to 1.12600.

Alternative option. If the EUR/USD quotes overcome the level of 1.11750, it is necessary to search for entry points to the market in order to open short positions. The immediate goal for profit taking is 1.11400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26786
  • Open: 1.27332
  • % chg. over the last day: +0.28
  • Day's range: 1.27296 – 1.27598
  • 52 wk range: 1.1986 – 1.5020

Currently, purchases prevail on GBP/USD, despite the tense political situation in the UK. The currency tests the local resistance level of 1.27600. The nearest support is at around 1.27100. We recommend opening positions from the key levels.

The news background on the UK economy is calm today.

GBP/USD

The GBP/USD quotes have fixed above 50 MA and 200 MA, which indicates the strength of buyers.

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

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: 1.27100, 1.26600
  • Resistance levels: 1.27600, 1.28000

If the price fixes above the local resistance of 1.27600, we recommend you to look for entry points to the market in order to open long positions. The movement is tending potentially to the round level of 1.28000.

Alternative option. If the GBP/USD quotes fix below the support level of 1.27100, sales should be considered. The target movement level is 1.26600.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32328
  • Open: 1.32594
  • % chg. over the last day: +0.25
  • Day's range: 1.32397 – 1.32694
  • 52 wk range: 1.2458 – 1.4692

On Friday, there was a high trading activity on USD/CAD. In the second half of the day, the Canadian dollar weakened sharply against the US currency. This is due to the release of weak inflation data in Canada. At the same time, at the moment the technical pattern is ambiguous. The key support and resistance levels are 1.32350 and 1.32700, respectively. Support for the Canadian dollar is provided by the recovery of the "black gold" prices.

We recommend paying attention to the news line from the USA.

USD/CAD

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

The MACD histogram is near 0 mark.

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

Trading recommendations
  • Support levels: 1.32350, 1.31900
  • Resistance levels: 1.32700, 1.33100

If the price fixes above the 1.32700 mark, we recommend considering buying USD/CAD. The immediate goal for profit-taking is 1.33000-1.33100.

Alternative option. If the USD/CAD rate overcomes the local support of 1.32350, it is necessary to look for entry points to the market in order to open short positions. The target movement level is 1.31900.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.305
  • Open: 111.122
  • % chg. over the last day: -0.04
  • Day's range: 111.107 – 111.678
  • 52 wk range: 99.08 – 123.69

At the moment, aggressive purchases are being observed on USD/JPY. Since the opening of the trading session, the growth of quotations has exceeded 50 points. The currency has reached a key resistance of 111.700. The technical pattern indicates further growth of USD/JPY. We recommend paying attention to the US government bonds yield.

There are no important economic reports from Japan today.

USD/JPY

Indicators indicate the "bullish" sentiment. The price is above 50 MA and 200 MA.

The MACD histogram has begun to rise and moved to the positive zone, which signals the further growth of the USD/JPY currency pair.

Stochastic Oscillator is in the overbought zone, the %K line is above the %D line, which gives a weak signal to buy USD/JPY.

Trading recommendations
  • Support levels: 111.000, 110.700
  • Resistance levels: 111.700

We believe that the growth of the USD/JPY currency pair may continue. If the price fixes above the key resistance of 111.700, we recommend considering buying. The movement is tending potentially to 112.250. When tracking a position, one should use a trailing stop.

by JustForex, 2017.06.26

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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