The Analytical Overview of the Main Currency Pairs on 2018.07.17

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16905
  • Open: 1.17101
  • % chg. over the last day: +0.26
  • Day's range: 1.17096 – 1.17151
  • 52 wk range: 1.0571 – 1.2557

During yesterday's trading session the bullish sentiment was observed on the EUR/USD currency pair. Yesterday, a report on the volume of retail sales in the US for June was published, which met the expectations of investors and amounted to 0.5%. At the moment, EUR/USD is still rising. The key levels of support and resistance are 1.17100 and 1.17400 respectively. We recommend opening positions from these marks. The trading instrument is tending potentially to grow.

The news feed on 2018.07.17:
  • - The average wage level in the UK at 11:30 (GMT+3:00).

We also recommend paying attention to the speech by the Fed's head.

EUR/USD

Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.

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

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

Trading recommendations
  • Support levels: 1.17100, 1.16800, 1.16400
  • Resistance levels: 1.17400, 1.17800

If the price fixes below the already "mirror" support of 1.17100, a technical correction of the EUR/USD quotes is expected. The movement is tending to 1.16800-1.16600.

Alternative option. If the price fixes above 1.17400, we recommend you opening long positions. The target level of movement is 1.17800-1.18000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32166
  • Open: 1.32330
  • % chg. over the last day: +0.07
  • Day's range: 1.32343 – 1.32567
  • 52 wk range: 1.2361 – 1.4345

Yesterday, a variety of trends was observed on the GBP/USD currency pair. At the moment, the technical pattern is ambiguous: the trading instrument is in a sideways trend. Investors expect additional drivers. The local support and resistance levels are 1.32300 and 1.32700, respectively. We recommend opening positions from these marks.

Today, the news feed on the UK economy is calm. We recommend you to pay attention to the speech by the Bank of England head Mark Carney.

GBP/USD

The price is being traded 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 sends a signal to buy 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: 1.32300, 1.31800, 1.31300
  • Resistance levels: 1.32700, 1.33100, 1.33500

If the price fixes above 1.32700, GBP/USD is expected to rise. The movement is tending to 1.33100-1.33500.

Alternative option. If the price fixes below the support level of 1.32300, it is necessary to consider sales of GBP/USD. The movement is tending to 1.31800-1.31600.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31523
  • Open: 1.31367
  • % chg. over the last day: -0.15
  • Day's range: 1.31135 – 1.31281
  • 52 wk range: 1.2059 – 1.3795

There is a downward trend on the USD/CAD currency pair. Currently, the local levels of support and resistance are 1.31100 and 1.31350, respectively. Positions should be opened from these marks. The trading instrument is tending potentiallty to reduce.

The news feed on the economy of Canada is calm.

USD/CAD

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 and below the signal line, which gives a strong signal to sell USD/CAD.

Stochastic Oscillator is moving out from the oversold zone, the %K line is above the %D line, which gives a weak signal to buy USD/CAD.

Trading recommendations
  • Support levels: 1.31100, 1.30800
  • Resistance levels: 1.31350, 1.31600, 1.31900

If the price fixes below the support level of 1.31100, further decrease of the USD/CAD currency pair is expected. The movement is tending to 1.30800-1.30500.

Alternative option. If the price fixes above the already "mirror" resistance level of 1.31350, the correction of the USD/CAD quotes is expected. The target level of movement is 1.31600-1.31900.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.203
  • Open: 112.269
  • % chg. over the last day: -0.02
  • Day's range: 112.344 – 112.375
  • 52 wk range: 104.56 – 114.74

There is an ambiguous technical pattern on the USD/JPY currency pair. The quotes are in a sideways trend. Investors expect additional drivers. The price is testing the key support level of 112.250. The resistance level is still 112.600. Positions must be opened from these marks.

The news feed on the economy of Japan is calm.

USD/JPY

Indicators do not send accurate signals: the price is being traded between 50 MA and 200 MA.

The MACD histogram is near the 0 MArk.

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

Trading recommendations
  • Support levels: 112.250, 111.900, 111.500
  • Resistance levels: 112.600, 112.900

If the price fixes below the 112.250 level, the USD/JPY currency pair is expected to decline. The movement is tending to 111.900-111.700.

Alternative option. If the price fixes above the resistance of 112.600, we recommend opening long positions. The target level of movement is 112.900-113.100.

by JustForex, 2018.07.17

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