The Analytical Overview of the Main Currency Pairs on 2018.02.26

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23288
  • Open: 1.22941
  • % chg. over the last day: -0.31
  • Day's range: 1.23154 – 1.23348
  • 52 wk range: 1.0492 – 1.2537

During Friday trading, EUR/USD moved in flat. At the moment, the technical pattern is ambiguous. The key support and resistance levels are: 1.23000 and 1.23400, respectively. Investors expect additional drivers. We recommend you to open positions from these marks. The key event in the current trading week will be a report on the labor market in the United States.

The news feed on 2018.02.26:

- New home sales in the US at 17:00 (GMT+2:00).

We also recommend paying attention to the speech of the ECB head Draghi.

EUR/USD

Indicators don’t show accurate signals. The price has fixed between 50 MA and 200 MA, which are strong dynamic support and resistance levels.

The MACD histogram began to rise and moved to the positive zone, which signals a bullish sentiment.

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

Trading recommendations
  • Support levels: 1.23000, 1.22600, 1.22200
  • Resistance levels: 1.23400, 1.23800, 1.24200

If the price fixes below the round level of 1.23000, the EUR/USD quotes are expected to decline. The movement is tending potentially to 1.22600-1.22200.

Alternative option. If the price fixes above 1.23400, it is necessary to look for entry points to the market to open long positions. The movement is tending potentially to 1.23800-1.24200.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.39514
  • Open: 1.39871
  • % chg. over the last day: +0.08
  • Day's range: 1.39644 – 1.39881
  • 52 wk range: 1.2106 – 1.4345

During today's trading, GBP/USD is strengthening. The British pound is supported by the forecasts about the interest rate increase by the Bank of England in the near future. There may be a further growth of the GBP/USD currency pair. The key support and resistance levels are: 1.40200 and 1.40600, respectively. We recommend opening positions above/below these marks.

The news feed on the UK economy is calm today.

GBP/USD

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

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

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

Trading recommendations
  • Support levels: 1.40200, 1.39600, 1.39000
  • Resistance levels: 1.40600, 1.41000, 1.41400

If the price fixes above 1.40600, the GBP/USD currency pair is expected to grow. The movement is tending potentially to 1.41000-1.41400.

Alternative option. If the price fixes below the support level of 1.40200, it is necessary to consider sales of GBP/USD. The movement is tending potentially to 1.39600-1.39400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27039
  • Open: 1.26304
  • % chg. over the last day: -0.59
  • Day's range: 1.26232 – 1.26325
  • 52 wk range: 1.2059 – 1.3795

On Friday, bearish sentiment prevailed on the USD/CAD currency pair. The quotes decreased by almost 100 points. The Canadian dollar strengthened against the US dollar after the publication of data that the inflation rate in Canada was higher than the forecasted values. At the moment, the technical pattern is ambiguous. The key support and resistance levels are: 1.26100 and 1.26400. We recommend opening positions from these marks.

Today, the news feed on Canada's economy is calm.

USD/CAD

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

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

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which signals to buy USD/CAD.

Trading recommendations
  • Support levels: 1.26100, 1.25800, 1.25300
  • Resistance levels: 1.26400, 1.26800, 1.27200

If the price fixes below 1.26100, the further decrease in the USD/CAD currency pair is expected. The movement is tending potentially to 1.25800-1.25300.

An alternative may be the correction of the USD/CAD quotes to the level of 1.26800-1.27200.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.746
  • Open: 107.113
  • % chg. over the last day: +0.13
  • Day's range: 106.995 – 107.142
  • 52 wk range: 107.33 – 115.51

There is a variety of trends on the USD/JPY currency pair. The technical pattern is ambiguous. At the moment, the USD/JPY quotes are consolidating in a rather narrow range of 106.450-106.700. Investors expect additional drivers. We recommend paying attention to the news feed and the US government bonds dynamics. Positions should be opened from the key levels.

Today, the news feed on the Japanese economy is calm.

USD/JPY

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

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

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which signals to buy USD/JPY.

Trading recommendations
  • Support levels: 106.450, 106.000, 105.700
  • Resistance levels: 106.700, 107.100, 107.550

If the price fixes below the support level of 106.450, USD/JPY is expected to fall. The movement is tending potentially to the round level of 106.000.

Alternative option. If the price fixes above the resistance level of 106.700, it is necessary to consider purchases of USD/JPY. The target movement level is 107.100-107.550.

by JustForex, 2018.02.26

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.

Dapatkan Analisis Percuma

* ruang yang diperlukan