The Analytical Overview of the Main Currency Pairs on 2018.06.14

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.17439
  • Open: 1.17911
  • % chg. over the last day: +0.49
  • Day's range: 1.17301 – 1.17511
  • 52 wk range: 1.0571 – 1.2557

There is an upward trend on the EUR/USD currency pair. During yesterday's and today's trading sessions, the growth of quotes have exceeded 70 points. Yesterday, the Fed raised the interest rate by 25 basis points to 1.75%-2.00%. Today, investors took a wait-and-see attitude before the ECB meeting. At the moment, the key support and resistance levels are 1.18000 and 1.18300, respectively. We recommend opening positions from these marks.

The news feed on 2018.06.14:
  • - ECB interest rate decision at 14:45 (GMT+3:00);
  • - Statistics on retail sales in the US at 15:30 (GMT+3:00).
EUR/USD

Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.

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

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

Trading recommendations
  • Support levels: 1.18000, 1.17600, 1.17200
  • Resistance levels: 1.18300, 1.18800

If the price fixes above the resistance of 1.18300, the EUR/USD quotes are expected to grow. The movement is tending to 1.18800-1.19000.

Alternative option. If the price fixes below the round level of 1.18000, we recommend considering sales. The target movement level is 1.17600-1.17400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33711
  • Open: 1.33704
  • % chg. over the last day: +0.07
  • Day's range: 1.33920 – 1.34109
  • 52 wk range: 1.2361 – 1.4345

Yesterday, there was a variety of trends on the GBP/USD currency pair. In May, the consumer price index in the UK remained at the same level of 2.4% (year-on-year), as experts expected. The indicator retains the annual low. At the moment, the key support and resistance levels are 1.33800 and 1.34200. The positions should be opened from these marks.

The economic calendar on 2018.06.14:
  • - Report on retail sales in the UK at 11:30 (GMT+3:00).
GBP/USD

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

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

Stochastic Oscillator is located in the overbought zone, the %K line crossed the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.33800, 1.33400, 1.33100
  • Resistance levels: 1.34200, 1.34600

If the price fixes above 1.34200, the GBP/USD quotes are expected to rise. The movement is tending to 1.34600-1.34800.

Alternative option. If the price fixes below the "mirror" support of 1.33800, we recommend considering sales of GBP/USD. The movement is tending to 1.33400-1.33100.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30139
  • Open: 1.29796
  • % chg. over the last day: -0.31
  • Day's range: 1.29736 – 1.29840
  • 52 wk range: 1.2059 – 1.3795

Yesterday, there was a variety of trends on the USD/CAD currency pair. At the moment, the USD/CAD quotes are in a sideways trend. Investors expect additional drivers. We recommend paying attention to the news feed from the US and the movement of oil quotes. The trading instrument is moving in the range of 1.29600-1.29900. Positions should be opened from the key support and resistance levels.

The news feed on the economy of Canada is calm.

USD/CAD

The price has fixed between 50 MA and 200 MA, which are strong dynamic support and resistance levels.

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 located in the neutral zone, the %K line is crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.29600, 1.29200, 1.28800
  • Resistance levels: 1.29900, 1.30200, 1.30600

If the price fixes above 1.29900, we recommend looking for entry points to the market to open long positions. The movement is tending to 1.30200-1.30600.

Alternative option. If the price fixes below the support level of 1.29600, the USD/CAD quotes are expected to decline. The target movement level is 1.29200-1.29000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.323
  • Open: 110.318
  • % chg. over the last day: -0.13
  • Day's range: 109.930 – 110.083
  • 52 wk range: 104.56 – 114.74

There is a downward trend on the USD/JPY currency pair. During yesterday's and today's trading sessions, the decline in quotes have exceeded 70 points. At the moment, the key support and resistance levels are 109.800 and 110.100, respectively. The positions should be opened from these marks. The trading instrument is tending potentially to fall.

The news feed on the economy of Japan is calm.

USD/JPY

Indicators do not send accurate signals: the price has crossed 200 MA.

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

Stochastic Oscillator is in the oversold zone, the %K line is below the %D line, which gives a weak signal to sell USD/JPY.

Trading recommendations
  • Support levels: 109.800, 109.500, 109.200
  • Resistance levels: 110.100, 110.400, 110.700

If the price fixes below the support of 109.800, further decrease of the USD/JPY currency pair is expected. The target movement level is 109.500-109.200.

Alternative option. If the price fixes above 110.100, it is necessary to look for entry points to the market to open long positions. The movement is tending to 110.400-110.700.

by JustForex, 2018.06.14

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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