The Analytical Overview of the Main Currency Pairs on 2018.03.26

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23071
  • Open: 1.23492
  • % chg. over the last day: +0.41
  • Day's range: 1.23491 – 1.23814
  • 52 wk range: 1.0492 – 1.2537

The US dollar remains under pressure due to the tense situation in the trade relations between the US and China. These events caused the sale of US assets. At the moment, the technical pattern on the EUR/USD currency pair is ambiguous. The trading instrument is consolidating. The EUR/USD quotes are testing the local support and resistance levels: 1.23500 and 1.23750 respectively. Positions must be opened above/below these markers.

The news feed on 2018.03.26:
  • Today, the publication of important economic reports from the US and the eurozone is not planned. We recommend you to pay attention to the speeches of the FOMC representatives.
EUR/USD

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 EUR/USD.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which signals the sale of EUR/USD.

Trading recommendations
  • Support levels: 1.23500, 1.23000, 1.22600
  • Resistance levels: 1.23750, 1.24000

If the price fixes above 1.23750, further growth of the EUR/USD currency pair is expected. The movement is tending to 1.24000-1.24250.

Alternative option. If the price fixes below the "mirror" support of 1.23500, we recommend looking for entry points to the market to open short positions. The movement is tending to the round level of 1.23000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.41026
  • Open: 1.41327
  • % chg. over the last day: +0.27
  • Day's range: 1.41300 – 1.41715
  • 52 wk range: 1.2106 – 1.4345

Last week aggressive purchases of GBP/USD were observed. The pound rose against the US dollar by more than 200 points. At the moment, the GBP/USD currency pair is consolidating. The key trading range is 1.41350-1.41750. In the near future, a technical correction is not ruled out. We recommend opening positions from the key levels.

The news feed on the UK economy is calm.

GBP/USD

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 GBP/USD.

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

Trading recommendations
  • Support levels: 1.41350, 1.40750, 1.40200
  • Resistance levels: 1.41750, 1.42150

If the price fixes above 1.41750, it is necessary to consider buying GBP/USD. The movement is tending to 1.42150-1.42250.

Alternative option. If the price fixes below the support level of 1.41350, the correction of GBP/USD is expected. The movement is tending to 41000-1.40750.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29339
  • Open: 1.28836
  • % chg. over the last day: +0.41
  • Day's range: 1.28483 – 1.28891
  • 52 wk range: 1.2059 – 1.3795

Currently, the USD/CAD pair is consolidating after a significant decline last week. The key trading range is 1.28350-1.28900. The Canadian dollar is supported by positive economic reports and rising "black gold" prices. The USD/CAD quotes are tending to further decline. Positions should be opened from the key levels of support and resistance.

The news feed on Canada's economy is calm.

USD/CAD

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

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

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates a correction of the USD/CAD currency pair.

Trading recommendations
  • Support levels: 1.28350, 1.28000
  • Resistance levels: 1.28900, 1.29400, 1.29700

If the price fixes below 1.28350, further fall of the USD/CAD currency pair is expected. The movement is tending to 1.28000-1.27750.

Alternative option. If the price fixes above 1.28900, it is necessary to consider buying USD/CAD. Target movement level is the offer zone of 1.29400-1.29700.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 105.303
  • Open: 104.655
  • % chg. over the last day: -0.51
  • Day's range: 104.629 – 105.104
  • 52 wk range: 107.33 – 115.51

USD/JPY is in a sideways trend. The trading instrument is testing the key support and resistance levels: 104.700 and 105.100. In the near future, a technical correction is not ruled out. We recommend you to keep track of the relevant information regarding trade relations between the US and China. Positions must be opened from the key levels.

The news feed on Japan's economy is calm.

USD/JPY

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

The MACD histogram has begun to rise and has fixed above the signal line, which signals correction of the USD/JPY currency pair.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which sends a signal to buy USD/JPY.

Trading recommendations
  • Support levels: 104.700, 104.250
  • Resistance levels: 105.100, 105.600

If the price fixes above the 105.100 mark, a correction of the USD/JPY currency pair is expected. The target movement level is 105.600-105.850.

Alternative option. If the price fixes below the support level of 104.700, it is necessary to consider selling USD/JPY. The movement is tending to 104.300-104.000.

by JustForex, 2018.03.26

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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