The Analytical Overview of the Main Currency Pairs on 2018.03.01

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22326
  • Open: 1.21930
  • % chg. over the last day: -0.34
  • Day's range: 1.21836 – 1.22130
  • 52 wk range: 1.0492 – 1.2537

At the moment, the EUR/USD quotes are consolidating after a significant decline in the last few trading sessions. The following key support and resistance levels can be identified: 1.21850 and 1.22250, respectively. There is a demand for the American currency after the speech of the Fed`s chairman. Investors expect important economic reports from the United States. We recommend opening positions from the key levels.

The news feed on 2018.03.01:

- Statistics on the manufacturing PMI in Germany and the Eurozone at 10:55 (GMT+2:00), 11:00 (GMT+2:00), respectively;
- Data on personal income and spending in the US at 15:30 (GMT+2:00);
- The index of business activity in the manufacturing sector in the US from ISM at 17:00 (GMT+2:00).

We recommend you to pay attention to the speeches of the FOMC representatives.

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 signals a correction of the EUR/USD currency pair.

Trading recommendations
  • Support levels: 1.21850, 1.21500, 1.21000
  • Resistance levels: 1.22250, 1.22700, 1.23000

If the price fixes below the support level of 1.21850, the EUR/USD quotes are expected to fall. The movement is tending potentially to 1.21500-1.21250.

Alternative option. If the price fixes above 1.22250, it is necessary to look for entry points to the market to open long positions. The movement is tending potentially to 1.22700-1.23000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.39078
  • Open: 1.37584
  • % chg. over the last day: -1.11
  • Day's range: 1.37426 – 1.37706
  • 52 wk range: 1.2106 – 1.4345

Yesterday, there were aggressive sales on the GBP/USD currency pair. The drop in quotes exceeded 1%. The trading instrument found the support at the level of 1.37450. The 1.37900 mark is a local resistance. The pound was under pressure due to new disagreements in the Brexit process. The further decline of the GBP/USD currency pair is not excluded. We expect important economic reports.

At 11:30 (GMT+2:00), the index of business activity in the manufacturing sector in the UK will be published.

GBP/USD

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

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 below the %D line, which signals a bearish sentiment on GBP/USD.

Trading recommendations
  • Support levels: 1.37450, 1.37000
  • Resistance levels: 1.37900, 1.38300, 1.38750

If the price fixes below 1.37450, it is necessary to consider sales of GBP/USD. The movement is tending potentially to the round level of 1.37000.

Alternative option. If the price fixes above the local resistance of 1.37900, correction of the GBP/USD currency pair is expected. The movement is tending potentially to 1.38300-1.38500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27759
  • Open: 1.28295
  • % chg. over the last day: +0.46
  • Day's range: 1.28276 – 1.28482
  • 52 wk range: 1.2059 – 1.3795

The USD/CAD currency pair continues to show a pronounced upward trend. During yesterday's trading, the Canadian dollar weakened against the US dollar by more than 70 points. At the moment, the price is testing local resistance of 1.28450. The round level of 1.28000 is the nearest support. The Canadian currency is under pressure due to the drop in oil quotes. We expect economic reports from the US.

The news feed on Canada's economy is calm.

USD/CAD

The price has fixed above 50 MA and 200 MA, which indicates 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 crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.28000, 1.27650, 1.27350
  • Resistance levels: 1.28450, 1.29000

If the price fixes above the resistance level of 1.28450, further growth of the USD/CAD currency pair is expected. The movement is tending potentially to 1.28750-1.29000.

An alternative may be the correction of the USD/CAD quotes to the level of 1.28000-1.27650.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 107.328
  • Open: 106.656
  • % chg. over the last day: -0.65
  • Day's range: 106.544 – 106.896
  • 52 wk range: 107.33 – 115.51

Yesterday, there were sales on the USD/JPY currency pair. At the moment, the technical pattern is ambiguous. The trading instrument is consolidating. The key support and resistance levels are: 106.600 and 107.000, respectively. Investors expect publication of important statistics on the US economy. We recommend you to open positions from the key levels.

The news feed on Japan's economy is calm.

USD/JPY

Indicators do not send accurate signals: 50 MA crossed 200 MA.

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

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a drop in the USD/JPY quotes.

Trading recommendations
  • Support levels: 106.600, 106.150, 105.750
  • Resistance levels: 107.000, 107.400, 107.800

If the price fixes below the support level of 106.600, the USD/JPY quotes are expected to fall. The movement is tending potentially to 106.150-105.750.

Alternative option. If the price fixes above the round level of 107.000, it is necessary to consider purchases of USD/JPY. The target movement level is 107.400-107.800.

by JustForex, 2018.03.01

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.

مفت تجزیات حاصل کریں

* در کار معلومات