The Analytical Overview of the Main Currency Pairs on 2018.04.05

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22683
  • Open: 1.22779
  • % chg. over the last day: +0.14
  • Day's range: 1.22585 – 1.22756
  • 52 wk range: 1.0571 – 1.2557

There is an ambiguous technical pattern on the EUR/USD currency pair. Yesterday, mixed economic reports from the USA were published. According to the ADP, the number of people employed in the non-agricultural sector counted to 241 thousand, while investors expected a value of 208 thousand. However, the index of business activity in the non-manufacturing sector dropped to 58.8 against the expected value of 59.0. Investors took a wait-and-see attitude before the publication of the report on the labor market in the US on Friday. The EUR/USD quotes are being traded in the range of 1.22550-1.22900. We recommend you to open positions above/below these marks.

The news feed on 2018.04.05:
  • - The index of business activity in the services sector in the Eurozone at 11:00 (GMT+3:00);
  • - The volume of retail sales in the Eurozone at 12:00 (GMT+3:00);
  • - The number of initial jobless claims in the US at 15:30 (GMT+3:00).
EUR/USD

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

The MACD histogram began to decline.

Stochastic Oscillator is located near the oversold zone, the %K line is below the %D line, which also gives a weak signal to sell EUR/USD.

Trading recommendations
  • Support levels: 1.22550, 1.22000
  • Resistance levels: 1.22900, 1.23300, 1.23700

If the price fixes below 1.22550, the EUR/USD quotes are expected to decline. The movement is tending potentially to the round level of 1.22000.

Alternative option. If the price fixes above 1.22900, it is necessary to look for entry points to the market to open long positions. The movement is tending potentially to 1.23300-1.23500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.40538
  • Open: 1.40777
  • % chg. over the last day: +0.21
  • Day's range: 1.40463 – 1.40545
  • 52 wk range: 1.2361– 1.4345

Yesterday, the index of business activity in the UK construction sector was published, which counted to 47.0, while investors expected the value of 50.9. At the moment, the GBP/USD quotes are decreasing. The key support and resistance levels are: 1.40400 and 1.40700, respectively. The positions must be opened from these marks.

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

GBP/USD

Indicators don’t show accurate signals. The price has fixed below 50 MA and 200 MA, which indicates the bearish sentiment.

The MACD histogram is near the 0 mark.

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

Trading recommendations
  • Support levels: 1.40400, 1.40100
  • Resistance levels: 1.40700, 1.41000, 1.41400

If the price fixes below 1.40400, it is necessary to consider sales of GBP/USD. The movement is tending potentially to 1.40100-1.39300.

Alternative option. If the price fixes above 1.40700, the GBP/USD quotes are expected to rise. The movement is tending potentially to 1.40100-1.39800.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28049
  • Open: 1.27702
  • % chg. over the last day: -0.41
  • Day's range: 1.27703 – 1.27786
  • 52 wk range: 1.2059 – 1.3795

Yesterday there was the bearish sentiment on the USD/CAD currency pair. The US dollar remains under pressure due to strained trade relations between the US and China. Additional support for the Canadian dollar is provided by the positive dynamics of oil quotes. At the moment, the USD/CAD currency pair is in a sideways trend. The key support and resistance levels are 1.27500-1.27800. We recommend you to open positions from these marks.

The news feed on Canada's economy is calm.

USD/CAD

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

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

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

Trading recommendations
  • Support levels: 1.27500, 1.27000
  • Resistance levels: 1.27800, 1.28200, 1.28600

If the price fixes below the support level of 1.27500, the USD/CAD quotes are expected to fall. The movement is tending potentially to the round level of 1.27000.

Alternative option. If the price fixes above 1.27800, the correction of the USD/CAD currency pair is expected. The target movement level is 1.28200-1.28600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.612
  • Open: 106.772
  • % chg. over the last day: +0.16
  • Day's range: 106.718 – 106.775
  • 52 wk range: 104.56 – 114.74

There is an upward trend on the USD/JPY currency pair. During yesterday's and today's trading quotes rose by almost 100 points. At the moment, the key support and resistance levels are: 106.800 and 107.200, respectively. Positions should be opened above/below these marks.

The news feed on Japan's economy is calm.

USD/JPY

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

The MACD histogram is located in the positive zone, above the signal line, which gives a strong signal to buy USD/JPY.

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: 106.800, 106.300, 106.000
  • Resistance levels: 107.200, 107.500

If the price fixes above 107.200, the USD/JPY quotes are expected to grow. The movement is tending potentially to 107.500-107.700.

Alternative option. If the price fixes below the 106.800 level, the correction of USD/JPY quotes is expected. The target movement level is 106.400-106.200.

by JustForex, 2018.04.05

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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