The Analytical Overview of the Main Currency Pairs on 2017.12.29

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.18950
  • Open: 1.19418
  • % chg. over the last day: +0.07
  • Day's range: 1.19460 – 1.19586
  • 52 wk range: 1.0341 – 1.2069

Demand for the US dollar is still at a low level. There is the bullish sentiment on the EUR/USD currency pair. We do not exclude the further growth of the EUR/USD quotes. The key support and resistance levels are 1.19400 and 1.19650, respectively. We recommend opening positions if the price fixes above/below these levels.

The news feed on 2017.12.29:

  • - The consumer price index in Germany at 15:00 (GMT+2:00).
EUR/USD

The signals of the indicators are different. 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 EUR/USD.

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: 1.19400, 1.18850, 1.18350
  • Resistance levels: 1.19650

If the price fixes above 1.19650, we recommend considering purchases of EUR/USD. The target movement level is 1.20100-1.20300.

If the price starts to fall and fixes below the support level of 1.19400, you need to look for entry points to open short positions. The movement is tending potentially to 1.19000-1.18800.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33960
  • Open: 1.34285
  • % chg. over the last day: +0.26
  • Day's range: 1.34688 – 1.34758
  • 52 wk range: 1.1450 – 1.3618

There is an uptrend on the GBP/USD currency pair. The key trading range on the currency pair is 1.34350-1.34800. Investors expect additional drivers.

The news background on the UK economy is calm.

GBP/USD

The signals of the indicators are ambiguous. The price has fixed above 50 MA and 200 MA, which indicates bullish sentiment on the GBP/USD currency pair.

The MACD histogram is in the positive zone and above the signal line, which signals the purchases of GBP/USD.

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: 1.34350, 1.33750, 1.33500
  • Resistance levels: 1.34800

If the GBP/USD currency pair fixes above the resistance level of 1.34800, we recommend considering purchases of GBP/USD. The movement is tending potentially to 1.35200-1.35400.

Alternative option. If the price fixes below the local support of 1.34350, we recommend looking for entry points to the market to open short positions. The movement is tending potentially to 1.33850.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26531
  • Open: 1.25657
  • % chg. over the last day: -0.20
  • Day's range: 1.25414 – 1.25548
  • 52 wk range: 1.2059 – 1.3795

Since the beginning of December, the Canadian dollar has increased by 2.5% due to the rise in oil prices. Today, USD/CAD continues to fall. In the near future, a technical correction is possible. At the moment, the support and resistance levels are 1.25350 and 1.26250. We recommend opening positions from key levels.

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

USD/CAD

Indicators do not send accurate signals. 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 USD/CAD.

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

Trading recommendations
  • Support levels: 1.25350
  • Resistance levels: 1.26250, 1.27250, 1.27750

If the USD/CAD quotes continue to fall and fix below the support level of 1.25350, it is necessary to consider sales. The movement is tending potentially to 1.24900-1.24700.

An alternative may be the correction of the USD/CAD currency pair to the level of 1.26650-1.26850.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.160
  • Open: 112.849
  • % chg. over the last day: -0.29
  • Day's range: 112.565 – 112.679
  • 52 wk range: 99.53 – 118.67

During the yesterday's trading session, the USD/JPY quotes fell slightly. At the moment, the technical pattern is ambiguous. The currency pair is being traded in the range of 112.550-112.900. It is recommended to open positions if the price fixes above/below these marks.

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

USD/JPY

Indicators do not send accurate signals. The USD/JPY quotes have fixed below 50 MA and 200 MA, which indicates the power of sellers.

The MACD histogram is in the negative zone and below the signal line, which gives a signal to sell USD/JPY.

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

Trading recommendations
  • Support levels: 112.550
  • Resistance levels: 112.900, 113.300, 113.550

If the price fixes below 112.550, it is necessary to consider sales of USD/JPY. The movement is tending potentially to 112.100-111.900.

Alternative option. If the price fixes above the support level of 112.900, we expect an increase in the USD/JPY currency pair. The target movement level is 113.300-113.500.

by JustForex, 2017.12.29

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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