The Analytical Overview of the Main Currency Pairs on 2018.06.20

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16225
  • Open: 1.15872
  • % chg. over the last day: -0.30
  • Day's range: 1.15895 – 1.15872
  • 52 wk range: 1.0571 – 1.2557

The technical pattern on the EUR/USD currency is ambiguous. The trading instrument is moving in flat. Investors expect additional drivers. The EUR/USD quotes have the potential for further decline. The key support and resistance levels are still: 1.15500 and 1.16000, respectively. We recommend opening positions from these marks.

The news feed on 2018.06.20:
  • - Existing home sales in the US at 17:00 (GMT+3:00).

We also recommend paying attention to the speeches by the ECB and the Fed heads.

EUR/USD

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, which signals the bearish sentiment.

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

Trading recommendations
  • Support levels: 1.15500, 1.15000
  • Resistance levels: 1.16000, 1.16600, 1.17200

If the price fixes below 1.15500, we recommend considering sales of EUR/USD. The movement is tending to 1.15100-1.15000.

Alternative option. If the price fixes above the round level of 1.16000, we recommend looking for entry points to the market to open long positions. The target movement level is 1.16400-1.16600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32440
  • Open: 1.31729
  • % chg. over the last day: -0.54
  • Day's range: 1.31694 – 1.31781
  • 52 wk range: 1.2361 – 1.4345

During yesterday's trading session, a downward trend was observed on the GBP/USD currency pair. Quotes fell more than 100 points. At the moment, the technical pattern is ambiguous. Investors expect additional drivers. The trading instrument is moving in the range of 1.31400-1.31900. Positions should be opened from the key support and resistance levels. In the near future, a technical correction is not ruled out.

Today, 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 above the %D line, which indicates a correction movement.

Trading recommendations
  • Support levels: 1.31400, 1.31000
  • Resistance levels: 1.31900, 1.32400, 1.32800

If the price fixes below 1.31400, further decline in the GBP/USD quotes is expected. The movement is tending to 1.31000-1.30800.

An alternative may be the GBP/USD currency pair correction to the level of 1.32400-1.32600.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32010
  • Open: 1.32777
  • % chg. over the last day: +0.59
  • Day's range: 1.32761 – 1.32876
  • 52 wk range: 1.2059 – 1.3795

The USD/CAD currency pair continues to show positive dynamics. Yesterday, the growth of quotes exceeded 80 points. Nevertheless, technical correction is not ruled out in the near future. At the moment, the trading instrument is in a sideways trend. The key support and resistance levels are 1.32600 and 1.33000, respectively. The positions should be opened from these marks.

Today, the publication of important news from Canada is not expected.

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 crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.32600, 1.32000, 1.31400
  • Resistance levels: 1.33000, 1.33500

If the price fixes below the support of 1.32600, correction of the USD/CAD currency pair is expected. The movement is tending to the round level of 1.32000.

Alternative option. If the price fixes above the 1.33000 mark, we recommend considering buying USD/CAD. The target movement level is 1.33400-1.33600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.539
  • Open: 110.066
  • % chg. over the last day: -0.42
  • Day's range: 110.112 – 110.227
  • 52 wk range: 104.56 – 114.74

Yesterday, there was a variety of trends on the USD/JPY currency pair. Quotes began to recover after a significant decline. At the moment, the technical pattern is ambiguous. Investors expect additional drivers. The key support and resistance levels are 110.000 and 110.300, respectively. The positions should be opened from these marks.

The news feed on the economy of Japan is calm.

USD/JPY

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

The MACD histogram is rising, which signals to buy USD/JPY.

Stochastic Oscillator is located near the overbought zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 110.000, 109.700, 109.400
  • Resistance levels: 110.300, 110.600, 110.900

If the price fixes above the level of 110.300, the USD/JPY currency pair is expected to grow. The movement is tending to 110.600-110.900.

Alternative option. If the price fixes below the round level of 110.000, we recommend considering sales USD/JPY. The target movement level is 109.700-109.400.

by JustForex, 2018.06.20

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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