The Analytical Overview of the Main Currency Pairs on 2018.05.30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16237
  • Open: 1.15366
  • % chg. over the last day: -0.73
  • Day’s range: 1.15356 – 1.15470
  • 52 wk range: 1.0571 – 1.2557

Euro is still under pressure due to political uncertainty in Italy. During yesterday's trading session, the EUR/USD currency pair fell by almost 100 points. In the near future, technical correction is not ruled out. At the moment, the trading instrument is moving in the range of 1.15400-1.15900. We recommend opening positions from the key support and resistance levels.

The news feed on 2018.05.30:
  • – Report on the labor market in Germany at 10:55 (GMT+3:00);
  • – ADP nonfarm employment change at 15:15 (GMT+3:00);
  • – GDP data in the US at 15:30 (GMT+3:00);
  • – Fed's "Beige Book" at 21:00 (GMT+3:00).
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 near the overbought zone, the %K line is above the %D line, which gives a weak signal to buy EUR/USD.

Trading recommendations
  • Support levels: 1.15400, 1.15000
  • Resistance levels: 1.15900, 1.16300, 1.17000

If the price fixes below the support level of 1.15400, the EUR/USD currency pair is expected to decline. The target movement level is 1.15000-1.14800.

An alternative may be the EUR/USD quotes correction to 1.16300-1.16500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33061
  • Open: 1.32524
  • % chg. over the last day: -0.44
  • Day’s range: 1.32547 – 1.32756
  • 52 wk range: 1.2361 – 1.4345

Yesterday, the GBP/USD quotes fell by more than 70 points. At the moment, the technical pattern is ambiguous. The GBP/USD quotes are moving in flat. Investors expect additional drivers. In the near future, technical correction is not ruled out. At the moment, the key support and resistance levels are 1.32400 and 1.32900, respectively. We recommend opening positions from these marks.

The news feed on the UK economy is calm.

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 signals to buy GBP/USD.

Trading recommendations
  • Support levels: 1.32400, 1.32000
  • Resistance levels: 1.32900, 1.33400, 1.34000

If the price fixes below the support level of 1.32400, further decline in the GBP/USD quotes is expected. The movement is tending potentially to 1.32000-1.31800.

Alternative option. If the price fixes above the resistance level of 1.32900, it is necessary to consider purchases of GBP/USD. The target movement level is 1.33400-1.33600.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29910
  • Open: 1.30183
  • % chg. over the last day: +0.29
  • Day’s range: 1.30146 – 1.30308
  • 52 wk range: 1.2059 – 1.3795

The technical pattern on the USD/CAD currency pair is ambiguous. During yesterday's trading session, the USD/CAD quotes slightly strengthened. At the moment, the trading instrument is moving in flat. Today, the Bank of Canada will announce its decision on monetary policy. It is expected that the regulator will leave the interest rate unchanged at 1.25%. The key support and resistance levels are 1.30000 and 1.30400, respectively. The positions should be opened from these marks.

The news feed on 2018.05.30:
  • – Bank of Canada interest rate decision at 17:00 (GMT+3:00).
USD/CAD

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 USD/CAD.

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

Trading recommendations
  • Support levels: 1.30000, 1.29500, 1.29000
  • Resistance levels: 1.30400, 1.30800

If the price fixes above the resistance level of 1.30400, the USD/CAD quotes are expected to rise. The movement is tending potentially to 1.30800-1.31000.

Alternative option. If the price fixes below the round level of 1.30000, we recommend considering sales of USD/CAD. The movement is tending potentially to 1.29500-1.29300.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.401
  • Open: 108.729
  • % chg. over the last day: -0.92
  • Day’s range: 108.768 – 108.873
  • 52 wk range: 104.56 – 114.74

During yesterday's trading session, the USD/JPY quotes declined by almost 100 points. The demand for safe assets has grown significantly. We recommend paying attention to the US news feed. At the moment, the key support and resistance levels are 108.500 and 109.000, respectively. The positions should be opened from these marks.

The news feed on the economy of Japan is calm.

USD/JPY

Indicators point to 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 USD/JPY.

Stochastic Oscillator is located near the overbought zone, the %K line is above the %D line, which gives a weak signal to buy USD/JPY.

Trading recommendations
  • Support levels: 108.500, 108.100
  • Resistance levels: 109.000, 109.500, 110.000

If the price fixes below the support level of 108.500, we recommend looking for entry points to the market to open short positions. The movement is tending potentially to 108.100-107.800.

Alternative option. If the price fixes above the round level of 109.000, it is necessary to consider purchases of USD/JPY. The movement is tending potentially to 109.500-109.800.

by JustForex, 2018.05.30

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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