The Analytical Overview of the Main Currency Pairs on 2018.06.11

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.17983
  • Open: 1.17737
  • % chg. over the last day: +0.14
  • Day's range: 1.18047 – 1.18204
  • 52 wk range: 1.0571 – 1.2557

The EUR/USD quotes have been moderately rising during the Asian trading session. The US currency is weakening after the ambiguous conclusion of the G7 summit. At the moment, the key support and resistance levels are 1.17900 and 1.18300, respectively. We recommend opening positions from these marks. The EUR/USD currency pair has the potential for further growth.

The news feed on the economy of the Eurozone and the US is calm.

EUR/USD

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

The MACD histogram has moved to the positive zone and continues to rise, which signals to buy EUR/USD.

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

Trading recommendations
  • Support levels: 1.17900, 1.17400, 1.16800
  • Resistance levels: 1.18300, 1.18800

If the price fixes above the resistance level of 1.18300, the EUR/USD quotes are expected to rise. The movement is tending potentially to 1.18800-1.19000.

Alternative option. If the price fixes below the support of 1.17900, we recommend looking for entry points to the market to open short positions. The target movement level is 1.17400-1.17200.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.34212
  • Open: 1.34059
  • % chg. over the last day: +0.01
  • Day's range: 1.34039 – 1.34066
  • 52 wk range: 1.2361– 1.4345

On Friday, the technical pattern on the GBP/USD currency pair was ambiguous. At the moment, quotes are rising. Today, important economic statistics from the UK will be published. Local support and resistance levels are 1.34100 and 1.34400. The positions should be opened from these marks. The trading instrument has the potential for further correction.

The economic calendar on 2018.06.11:
  • - Manufacturing production in the UK at 11:30 (GMT+3:00).
GBP/USD

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

The MACD histogram is rising, which signals to buy GBP/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which also indicates the GBP/USD quotes growth.

Trading recommendations
  • Support levels: 1.34100, 1.33700, 1.33300
  • Resistance levels: 1.34400, 1.34700, 1.35000

If the price fixes above the resistance level of 1.34400, the GBP/USD quotes are expected to rise. The movement is tending potentially to 1.34700-1.35000.

Alternative option. If the price fixes below 1.34100, we recommend considering sales of GBP/USD. The movement is tending potentially to 1.33700-1.33500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29773
  • Open: 1.29113
  • % chg. over the last day: +0.33
  • Day's range: 1.29764 – 1.29967
  • 52 wk range: 1.2059 – 1.3795

During Friday's trading session, the US currency weakened against the Canadian dollar. In the second half of the day aggressive sales of USD/CAD were observed. At the moment, the technical pattern is ambiguous. The key support and resistance levels are 1.29500 and 1.29900, respectively. The positions should be opened from these marks.

The news feed on the economy of Canada is calm.

USD/CAD

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 accurate signals.

Trading recommendations
  • Support levels: 1.29500, 1.29100, 1.28700
  • Resistance levels: 1.29900, 1.30300, 1.30700

If the price fixes above 1.29900, further growth of the USD/CAD quotes is expected. The movement is tending potentially to 1.30300-1.30700.

Alternative option. If the price fixes below the support of 1.29500, we recommend looking for entry points to the market to open short positions. The movement is tending potentially to 1.29100-1.28900.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.673
  • Open: 109.300
  • % chg. over the last day: -0.08
  • Day's range: 109.948 – 110.103
  • 52 wk range: 104.56 – 114.74

At the moment, there are aggressive purchases of USD/JPY. During the Asian trading session, the yen lost in price more than 75 points. Local support and resistance levels are 109.800 and 110.150, respectively. The positions should be opened from these marks. Investors expect additional drivers.

Today, the news feed on the economy of Japan is calm.

USD/JPY

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

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

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: 109.800, 109.450, 109.100
  • Resistance levels: 110.150, 110.450

If the price fixes below 109.800, the USD/JPY currency pair is expected to decline. The target movement level is 109.450-109.100.

Alternative option. If the price fixes above the resistance of 110.150, it is necessary to look for entry points to the market to open long positions. The movement is tending potentially to 110.500-110.750.

by JustForex, 2018.06.11

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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