The Analytical Overview of the Main Currency Pairs on 2018.04.20

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23731
  • Open: 1.23447
  • % chg. over the last day: -0.23
  • Day's range: 1.23441 – 1.23480
  • 52 wk range: 1.0571 – 1.2557

Yesterday, the bearish sentiment was observed on the EUR/USD currency pair. A strong report from the Federal Reserve Bank of Philadelphia supported the US dollar. At the moment, the trading instrument is moving in flat. Investors expect additional drivers. Local support and resistance levels are: 1.23350 and 1.23650, respectively. Positions must be opened from these marks.

Important economic reports are not expected to be published today.

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 crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.23350, 1.23000, 1.22700
  • Resistance levels: 1.23650, 1.24000, 1.24300

If the price fixes below the support level of 1.23350, the EUR/USD currency pair is expected to decline. The movement is tending potentially to 1.23000-1.22700.

Alternative option. If the price fixes above the "mirror" resistance of 1.23650, it is necessary to consider purchases of EUR/USD. The target movement level is 1.24000-1.24300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.41991
  • Open: 1.40833
  • % chg. over the last day: -0.84
  • Day's range: 1.40353 – 1.40665
  • 52 wk range: 1.2361– 1.4345

Yesterday, the British pound fell significantly after the publication of the report on the retail sales in the UK. The drop in quotes exceeded 100 points. As it became known, the indicator fell to -1.2%, instead of the forecasted value of -0.5%. In the previous month, the volume of retail sales counted to 0.8%. At the moment, the key trading range is 1.40300-1.40800. The positions must be opened from these marks.

The news feed on the UK economy is calm.

GBP/USD

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

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 located in the neutral zone, the %K line is crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.40300, 1.40000, 1.39700
  • Resistance levels: 1.40800, 1.41400, 1.42000

If the price fixes below the support level of 1.40300, further drop in the GBP/USD quotes is expected. The movement is tending potentially to 1.40000-1.39700.

Alternative option. If the price fixes above 1.40800, it is necessary to consider purchases of GBP/USD. The movement is tending potentially to 1.41400-1.41600.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26279
  • Open: 1.26723
  • % chg. over the last day: +0.29
  • Day's range: 1.26568 – 1.26723
  • 52 wk range: 1.2059 – 1.3795

Yesterday, there was a variety of trends on the USD/CAD currency pair. At the moment, the trading instrument is in a sideways trend. Investors expect additional drivers. The key support and resistance levels are 1.26600 and 1.26850, respectively. We recommend opening positions from these marks.

The news feed on Canada's economy:
  • – Core consumer price index in Canada at 15:30 (GMT+3:00);
  • – Core retail sales in Canada at 15:30 (GMT+3:00).
USD/CAD

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

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

Trading recommendations
  • Support levels: 1.26600, 1.26200, 1.25800
  • Resistance levels: 1.26850, 1.27200, 1.27600

If the price fixes above the level of 1.26850, the USD/CAD currency pair growth is expected. The movement is tending potentially to 1.27200-1.27600.

Alternative option. If the price fixes below the level of 1.26600, it is necessary to consider sales of USD/CAD. The movement is tending potentially to 1.26200-1.25800.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.227
  • Open: 107.366
  • % chg. over the last day: +0.21
  • Day's range: 107.554 – 107.602
  • 52 wk range: 104.56 – 114.74

Today, during the Asian trading session, the US dollar strengthened against the Japanese yen. The increase in the 10-year government bonds yield supports the demand for the US currency. At the moment, the key support and resistance levels are: 107.500 and 107.700, respectively. We recommend opening positions from these marks.

The news feed on Japan's economy is calm.

USD/JPY

The price has fixed above 50 MA and 200 MA, which indicates the 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/JPY.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a decrease in the USD/JPY quotes.

Trading recommendations
  • Support levels: 107.500, 107.200, 106.900
  • Resistance levels: 107.700, 108.000

If the price fixes above the resistance level of 107.700, it is necessary to consider purchases of USD/JPY. The movement is tending potentially to 108.000-108.300.

Alternative option. If the price fixes below the support level of 107.500, the USD/JPY quotes are expected to fall. The movement is tending potentially to 107.200-106.900.

by JustForex, 2018.04.20

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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