The Analytical Overview of the Main Currency Pairs on 2018.07.19

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16596
  • Open: 1.16366
  • % chg. over the last day: -0.14
  • Day's range: 1.16255 – 1.16566
  • 52 wk range: 1.0571 – 1.2557

Yesterday's trading on the EUR/USD currency pair was very active. However, a unidirectional trend was not observed. At the moment, quotes are testing local support and resistance levels: 1.16250 and 1.16500, respectively. The trading instrument is tending to decline. We are waiting for statistics from the USA. We recommend opening positions from the key levels.

The news feed on 2018.07.19:

At 15:30 (GMT+3:00) the index of production activity from the Federal Reserve Bank of Philadelphia will be published.

EUR/USD

Indicators point to the power of sellers. The price has fixed below 50 MA and 200 MA.

The MACD histogram is located in the negative zone and continues to decline, which indicates a bearish sentiment on the EUR/USD currency pair.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which also gives a signal to sell EUR/USD.

Trading recommendations
  • Support levels: 1.16250, 1.16000, 1.15500
  • Resistance levels: 1.16500, 1.16750, 1.17000

If the price is fixed below 1.16250, further fall of the EUR/USD currency pair is expected. The movement is tending to 1.16000-1.15500.

Alternative option. If the price fixes above the resistance level of 1.16500, it is necessary to consider buying EUR/USD. The movement is tending to 1.16750-1.17000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31103
  • Open: 1.30659
  • % chg. over the last day: -0.29
  • Day's range: 1.30441 – 1.30832
  • 52 wk range: 1.2361 – 1.4345

Yesterday, GBP/USD continued to decline. Pressure on the pound was put by a weak inflation report in the UK. In June, the consumer price index counted to 2.4% (year on year), which is below the market expectations of 2.6%. At the moment, the GBP/USD is testing local support and resistance levels: 1.30400 and 1.30800, respectively. In the near future, a technical correction is not ruled out. Positions must be opened from the key levels.

At 11:30 (GMT+3:00) a report on retail sales in the UK will be published.

GBP/USD

Indicators point to the power sellers. The price has fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone and continues to decline, which signals a bearish sentiment.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which sends a signal to sell GBP/USD.

Trading recommendations
  • Support levels: 1.30400, 1.30100, 1.29750
  • Resistance levels: 1.30800, 1.31150, 1.31700

If the price falls below the support level of 1.30400, further drop in the GBP/USD price is expected. The closest target for fixing profits is the mark of 1.30100-1.30000.

Alternative option. If the price fixes above 1.30800, a correction movement is expected. The movement is tending to 1.31150-1.31400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31928
  • Open: 1.31654
  • % chg. over the last day: -0.16
  • Day's range: 1.31598 – 1.31936
  • 52 wk range: 1.2059 – 1.3795

During yesterday's trading the bearish sentiment prevailed on the USD/CAD currency pair. The Canadian dollar has recovered a significant part of the losses. At the moment the USD/CAD quotes are testing the "mirror" resistance of 1.31900. The key support is the mark 1.31600. We are waiting for statistics from the USA. We recommend opening positions from the key levels.

The news feed on economy of Canada is calm.

USD/CAD

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

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

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.

Trading recommendations
  • Support levels: 1.31600, 1.31250
  • Resistance levels: 1.31900, 1.32150, 1.32350

If the price fixes above the "mirror" resistance of 1.31900, it is necessary to consider buying USD/CAD. The movement is tending to 1.32150-1.32350.

Alternatively, USD/CAD may drop to 1.31600-1.31500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.858
  • Open: 112.829
  • % chg. over the last day: -0.06
  • Day's range: 112.652 – 112.966
  • 52 wk range: 104.56 – 114.74

On the USD/JPY currency pair there was an ambiguous technical pattern. The trading instrument is in a sideways trend. The USD/JPY quotes are testing monthly highs. The key levels of support and resistance are: 112.700 and 113.100 respectively. Correction is not ruled out in the near future. We recommend paying attention to the news feed on the US economy.

In the Asian trading session, mixed data on trade balance of Japan were published.

USD/JPY

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

The MACD histogram is located 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: 112.700, 112.500, 112.200
  • Resistance levels: 113.100, 113.500

If the price fixes above the 113.100 level, further growth of the USD/JPY currency pair is expected. The movement is tending to 113.500-113.750.

Alternative option. If the price fixes below the 112.700 level, a correction movement is expected. The target level of movement is 112.500-112.200.

by JustForex, 2018.07.19

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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