The Analytical Overview of the Main Currency Pairs on 2018.01.22

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22365
  • Open: 1.22701
  • % chg. over the last day: +0.28
  • Day's range: 1.22157 - 1.22429
  • 52 wk range: 1.0492 – 1.2296

On Friday, there was no unidirectional trend on the EUR/USD currency pair. At the moment, the EUR/USD quotes are in a sideways trend. The key trading range is 1.22050-1.22650. Positions should be opened if the price fixes above/below these marks. We recommend paying attention to the government bonds yield and up-to-date information on financing the US government work.

Today, the news feed is rather calm. The publication of important economic reports is not planned.

EUR/USD

The signals of the indicators are different. The price has fixed between 50 MA and 200 MA, which are dynamic support and resistance levels.

The MACD histogram has begun to decline, which gives a signal to sell EUR/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which signals the purchases of EUR/USD.

Trading recommendations
  • Support levels: 1.22050, 1.21300, 1.20450
  • Resistance levels: 1.22650, 1.23050

If the price fixes below the support level of 1.22050, we recommend considering sales of the EUR/USD currency pair. The movement is tending potentially to 1.21600-1.21400.

Alternative option. If the price fixes above 1.22650, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.23000-1.23250.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.38931
  • Open: 1.38902
  • % chg. over the last day: -0.30
  • Day's range: 1.38764 – 1.38958
  • 52 wk range: 1.2014 – 1.3820

On Friday, the British pound fell against the US dollar due to a weak report on retail sales in the UK. At the moment, the technical pattern on the GBP/USD currency pair is ambiguous. The price is testing round level of 1.39000. The nearest support is at the level of 1.38500. We recommend opening positions from these marks.

Today, the publication of important economic reports from the UK is not planned.

GBP/USD

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

The MACD histogram is near the 0 mark.

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

Trading recommendations
  • Support levels: 1.38500, 1.37850, 1.37300
  • Resistance levels: 1.39000, 1.39400

If the price fixes below the support level of 1.38500, we recommend considering sales of GBP/USD. The movement is tending potentially to 1.38100-1.37900.

An alternative may be the growth of the GBP/USD currency pair to 1.39400-1.39700.

When tracking positions, one should use a trailing stop.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.24172
  • Open: 1.24712
  • % chg. over the last day: +0.57
  • Day's range: 1.24641 - 1.24755
  • 52 wk range: 1.2059 – 1.3795

On Friday, the bullish sentiment was observed on the USD/CAD currency pair. The USD/CAD quotes increased by 80 points. At the moment, the technical pattern is ambiguous. The trading instrument is consolidating in the range of 1.24500-1.24900. We recommend opening positions from the key support and resistance levels.

The news feed on 2018.01.22:

  • - The volume of wholesales in Canada at 15:30 (GMT+2:00).
USD/CAD

The signals of the indicators are different. The price has fixed above 50 MA and 200 MA, which indicates bullish sentiment.

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

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

Trading recommendations
  • Support levels: 1.24500, 1.24000, 1.23700
  • Resistance levels: 1.24900, 1.25200, 1.25500

If the price fixes below the local support level of 1.24500, we recommend considering sales of USD/CAD. The movement is tending potentially to 1.24000-1.23800.

Alternative option. If the USD/CAD quotes overcome the mark of 1.24900, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.25300-1.25500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.011
  • Open: 110.524
  • % chg. over the last day: -0.22
  • Day's range: 110.743 – 110.815
  • 52 wk range: 107.33 – 115.62

On Friday, a variety of trends was observed on the USD/JPY currency pair. At the moment, quotes are being traded in a flat. The key support and resistance levels are 110.500 and 110.900, respectively. In the near future, a technical correction is not excluded. The positions must be opened from these marks.

The news feed on economy of Japan is calm. Investors took a wait-and-see attitude before the meeting of the Bank of Japan.

USD/JPY

The price has fixed below 50 MA and 200 MA, which indicates a bearish sentiment.

The MACD histogram is near the 0 mark. There are no signals at the moment.

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

Trading recommendations
  • Support levels: 110.500, 110.000
  • Resistance levels: 110.900, 111.450, 111.850

If the price continues to decline and fixes below the local support of 110.500, we recommend considering sales of USD/JPY. The movement is tending potentially to the round level of 110.000.

An alternative may be the growth of the USD/JPY quotes to the level of 111.300-111.500.

by JustForex, 2018.01.22

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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