The Analytical Overview of the Main Currency Pairs on 2017.10.03

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.17915
  • Open: 1.17304
  • % chg. over the last day: -0.64
  • Day's range: 1.16964 – 1.17401
  • 52 wk range: 1.0341 – 1.2069

Demand for the American currency remains at a high level. Yesterday, the US dollar again strengthened against the majors. The dollar index (#DX) updated the local highs. The US currency was supported by positive data on the index of business activity in the manufacturing sector of the US from ISM. In September, the indicator increased from 58.8 to 60.8 and reached a record high in the last few years. On the EUR/USD currency pair, there were aggressive sales. The euro reached a round level of 1.17000. The nearest resistance is at 1.17600.

The publication of important economic reports from the US and the Eurozone is not planned today.

EUR/USD

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

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 above the %D line, which indicates the correction of the EUR/USD quotes.

Trading recommendations
  • Support levels: 1.17000, 1.16500
  • Resistance levels: 1.17600, 1.18300

Today, we recommend opening positions from the key levels.

If the price fixes below the round level of 1.17000, it is necessary to consider sales of EUR/USD. The movement is tending to 1.16500.

Alternative option. If the EUR/USD quotes overcome the level of 1.17600, we expect a corrective movement. The target movement level is 1.18000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33720
  • Open: 1.32712
  • % chg. over the last day: -0.90
  • Day's range: 1.32292 – 1.32870
  • 52 wk range: 1.1450 – 1.3618

Yesterday, the bearish sentiment prevailed on GBP/USD. The pound weakened against the US dollar by more than 100 points. In September, business activity in the UK manufacturing sector fell by 1.4% to 55.9. The currency found support at 1.32400. The round level of 1.33000 is the nearest resistance. At the moment there is a correction of the GBP/USD quotes. We are waiting for statistics from the UK.

At 11:30 (GMT+3:00) the index of business activity in the construction sector of the UK will be published.

GBP/USD

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

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 above the %D line, which indicates the growth of GBP/USD.

Trading recommendations
  • Support levels: 1.32400, 1.32000
  • Resistance levels: 1.33000, 1.33650

If the statistics from the UK turns out to be weak, we expect a further drop in GBP/USD. The movement is tending to 1.32400-1.32000.

An alternative may be the growth of the GBP/USD currency pair to 1.33300-1.33650.

When following a position, it is better use a trailing stop.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.24863
  • Open: 1.25081
  • % chg. over the last day: +0.36
  • Day's range: 1.25037 – 1.25385
  • 52 wk range: 1.2059 – 1.3795

Yesterday, purchases prevailed on USD/CAD again. At the moment, the key support and resistance levels are 1.24850 and 1.25250, respectively. In the near future, a technical correction is possible. The positions must be opened from these marks. We recommend paying attention to the dynamics of the oil quotations.

The news background on Canada's economy is calm today.

USD/CAD

The price has fixed above 50 MA and 200 MA, which signals 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/CAD.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the USD/CAD price drop.

Trading recommendations
  • Support levels: 1.24850, 1.24200
  • Resistance levels: 1.25250

If the price fixes above 1.25250, we expect further growth of the USD/CAD currency pair. The target movement level is 1.25750.

Alternative option. If the USD/CAD rate overcomes the 1.24850 mark, it is necessary to look for entry points to the market to open short positions. The movement is tending potentially to 1.24500-1.24200.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.543
  • Open: 112.757
  • % chg. over the last day: +0.11
  • Day's range: 112.588 – 113.195
  • 52 wk range: 99.53 – 118.67

Yesterday's trading on USD/JPY was quite active. At the same time, a unidirectional trend was not observed. At the moment, the bullish sentiment prevails on USD/JPY. The price is testing a key resistance of 113.250. The nearest support is at 112.850. We recommend paying attention to the US government bonds yield.

There are no important economic reports from Japan today.

USD/JPY

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

The MACD histogram is located in the positive zone and above the signal line, which indicates the growth of the USD/JPY currency pair.

Stochastic Oscillator has left the overbought zone, the %K line is below the %D line, which gives a signal to sell USD/JPY.

Trading recommendations
  • Support levels: 112.850, 112.250
  • Resistance levels: 113.250

If the price fixes above the resistance level of 113.250, we recommend looking for entry points to the market to open long positions. The movement is tending to 113.500-113.750.

Alternative option. If the price fixes below 112.850, it is necessary to consider selling USD/JPY. The target movement level is 112.500-112.250.

When tracking the position, we recommend using a trailing stop.

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The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.17915
  • Open: 1.17304
  • % chg. over the last day: -0.64
  • Day's range: 1.16964 – 1.17401
  • 52 wk range: 1.0341 – 1.2069

Demand for the American currency remains at a high level. Yesterday, the US dollar again strengthened against the majors. The dollar index (#DX) updated the local highs. The US currency was supported by positive data on the index of business activity in the manufacturing sector of the US from ISM. In September, the indicator increased from 58.8 to 60.8 and reached a record high in the last few years. On the EUR/USD currency pair, there were aggressive sales. The euro reached a round level of 1.17000. The nearest resistance is at 1.17600.

The publication of important economic reports from the US and the Eurozone is not planned today.

EUR/USD

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

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 above the %D line, which indicates the correction of the EUR/USD quotes.

Trading recommendations
  • Support levels: 1.17000, 1.16500
  • Resistance levels: 1.17600, 1.18300

Today, we recommend opening positions from the key levels.

If the price fixes below the round level of 1.17000, it is necessary to consider sales of EUR/USD. The movement is tending to 1.16500.

Alternative option. If the EUR/USD quotes overcome the level of 1.17600, we expect a corrective movement. The target movement level is 1.18000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33720
  • Open: 1.32712
  • % chg. over the last day: -0.90
  • Day's range: 1.32292 – 1.32870
  • 52 wk range: 1.1450 – 1.3618

Yesterday, the bearish sentiment prevailed on GBP/USD. The pound weakened against the US dollar by more than 100 points. In September, business activity in the UK manufacturing sector fell by 1.4% to 55.9. The currency found support at 1.32400. The round level of 1.33000 is the nearest resistance. At the moment there is a correction of the GBP/USD quotes. We are waiting for statistics from the UK.

At 11:30 (GMT+3:00) the index of business activity in the construction sector of the UK will be published.

GBP/USD

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

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 above the %D line, which indicates the growth of GBP/USD.

Trading recommendations
  • Support levels: 1.32400, 1.32000
  • Resistance levels: 1.33000, 1.33650

If the statistics from the UK turns out to be weak, we expect a further drop in GBP/USD. The movement is tending to 1.32400-1.32000.

An alternative may be the growth of the GBP/USD currency pair to 1.33300-1.33650.

When following a position, it is better use a trailing stop.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.24863
  • Open: 1.25081
  • % chg. over the last day: +0.36
  • Day's range: 1.25037 – 1.25385
  • 52 wk range: 1.2059 – 1.3795

Yesterday, purchases prevailed on USD/CAD again. At the moment, the key support and resistance levels are 1.24850 and 1.25250, respectively. In the near future, a technical correction is possible. The positions must be opened from these marks. We recommend paying attention to the dynamics of the oil quotations.

The news background on Canada's economy is calm today.

USD/CAD

The price has fixed above 50 MA and 200 MA, which signals 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/CAD.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the USD/CAD price drop.

Trading recommendations
  • Support levels: 1.24850, 1.24200
  • Resistance levels: 1.25250

If the price fixes above 1.25250, we expect further growth of the USD/CAD currency pair. The target movement level is 1.25750.

Alternative option. If the USD/CAD rate overcomes the 1.24850 mark, it is necessary to look for entry points to the market to open short positions. The movement is tending potentially to 1.24500-1.24200.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.543
  • Open: 112.757
  • % chg. over the last day: +0.11
  • Day's range: 112.588 – 113.195
  • 52 wk range: 99.53 – 118.67

Yesterday's trading on USD/JPY was quite active. At the same time, a unidirectional trend was not observed. At the moment, the bullish sentiment prevails on USD/JPY. The price is testing a key resistance of 113.250. The nearest support is at 112.850. We recommend paying attention to the US government bonds yield.

There are no important economic reports from Japan today.

USD/JPY

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

The MACD histogram is located in the positive zone and above the signal line, which indicates the growth of the USD/JPY currency pair.

Stochastic Oscillator has left the overbought zone, the %K line is below the %D line, which gives a signal to sell USD/JPY.

Trading recommendations
  • Support levels: 112.850, 112.250
  • Resistance levels: 113.250

If the price fixes above the resistance level of 113.250, we recommend looking for entry points to the market to open long positions. The movement is tending to 113.500-113.750.

Alternative option. If the price fixes below 112.850, it is necessary to consider selling USD/JPY. The target movement level is 112.500-112.250.

When tracking the position, we recommend using a trailing stop.

by JustForex, 2017.10.03

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.

JustForex, 2017.10.03

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.