The Analytical Overview of the Main Currency Pairs on 2018.03.05

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22621
  • Open: 1.23625
  • % chg. over the last day: +0.40
  • Day's range: 1.23251 – 1.23645
  • 52 wk range: 1.0492 – 1.2537

On Friday, there were purchases on the EUR/USD currency pair. The growth of quotes exceeded 80 points. The US dollar is under pressure due to the threat of beginning of the trading war. Let us recall, that Donald Trump plans to impose duties on the import of steel and aluminum in the US, which have caused dissatisfaction of other countries. At the moment, quotes are being traded in the range of 1.22800-1.23100. Positions must be opened from these levels.

The news feed on 2018.03.05:

- Statistics on business activity in the Eurozone at 11:00 (GMT+2:00);
- The volume of retail sales in the Eurozone at 12:00 (GMT+2:00);
- The index of business activity in the non-manufacturing sector in the US from ISM at 17:00 (GMT+2:00).

EUR/USD

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

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy EUR/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: 1.22800, 1.22500, 1.22200
  • Resistance levels: 1.23100, 1.23400, 1.23700

If the price fixes below the already "mirror" support of 1.22800, the EUR/USD quotes are expected to decrease. The movement is tending potentially to 1.22500-1.22200.

Alternative option. If the price fixes above 1.23100, it is necessary to look for entry points to the market to open long positions. The movement is tending potentially to 1.23400-1.23700.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.37719
  • Open: 1.37936
  • % chg. over the last day: +0.21
  • Day's range: 1.37664 – 1.37953
  • 52 wk range: 1.2106 – 1.4345

There is an ambiguous technical pattern on the GBP/USD currency pair. The trading instrument is in a sideways trend. Investors expect additional drivers. The key support and resistance levels are: 1.37600 and 1.38000, respectively. The positions must be opened from these marks.

At 11:30 (GMT+2:00), the index of business activity in the UK services sector will be published.

GBP/USD

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

The MACD histogram is near the 0 mark.

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

Trading recommendations
  • Support levels: 1.37600, 1.37100, 1.36800
  • Resistance levels: 1.38000, 1.38500, 1.39000

If the price fixes below 1.37600, it is necessary to consider sales of GBP/USD. The movement is tending potentially to 1.37100-1.36800.

Alternative option. If the price fixes above the round level of 1.38000, the GBP/USD currency pair is expected to grow. The movement is tending potentially to 1.38500-1.38700.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28337
  • Open: 1.28650
  • % chg. over the last day: +0.32
  • Day's range: 1.29011 – 1.29113
  • 52 wk range: 1.2059 – 1.3795

On Friday, data on Canada's GDP were published, according to which the rate slowed from 0.4% to 0.1%, as experts expected. As a result, USD/CAD quotes grew by almost 100 points. At the moment, the technical pattern is ambiguous. The trading instrument is in a sideways trend. The key support and resistance levels are: 1.29200 and 1.28900, respectively. We recommend you to open positions above/below these marks.

The news feed on Canada's economy is calm. We recommend following the situation in the USA.

USD/CAD

The price has fixed above 50 MA and 200 MA, which indicates a power of buyers.

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

Stochastic Oscillator is in the overbought zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.28900, 1.28500, 1.28000
  • Resistance levels: 1.29200, 1.29500

If the price fixes above the resistance level of 1.29200, further growth of the USD/CAD currency pair is expected. The movement is tending potentially to 1.29500-1.29700.

An alternative may be the correction of the USD/CAD quotes to the level of 1.28500-1.28300.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.213
  • Open: 105.487
  • % chg. over the last day: -0.46
  • Day's range: 105.375 – 105.629
  • 52 wk range: 107.33 – 115.51

On Friday, the USD/JPY currency pair continued to decline against the US dollar weakening. Quotes fell by almost 80 points. At the moment, the technical pattern is ambiguous. The trading instrument is in a flat. In the near future, a technical correction is not excluded. The key support and resistance levels are: 105.350 and 105.700, respectively. We recommend you to open positions from these levels.

The news feed on Japan's economy is calm. We recommend following the situation in the USA.

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 crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 105.350, 105.00
  • Resistance levels: 105.700, 106.000, 106.600

If the price fixes below the support level of 105.350, the USD/JPY quotes are expected to decline. The movement is tending potentially to 105.000-104.800.

Alternative option. If the price fixes above the 105.700 mark, it is necessary to consider purchases of USD/JPY. The target movement level is to 106.000-106.600.

by JustForex, 2018.03.05

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