The Analytical Overview of the Main Currency Pairs on 2018.07.05

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16552
  • Open: 1.16561
  • % chg. over the last day: +0.03
  • Day's range: 1.16935 – 1.17054
  • 52 wk range: 1.0571 – 1.2557

During today's trading session, the bullish sentiment has been observed on the EUR/USD currency pair. The US dollar is declining before the publication of the FOMC protocols. At the moment, the key support and resistance levels are 1.16800 and 1.17100, respectively. We recommend opening positions from the key levels. The trading instrument has the potential for further growth.

The news feed on 2018.07.05:
  • - The ADP nonfarm employment change in the US at 15:15 (GMT+3:00);
  • - The ISM non-manufacturing purchasing managers index in the US at 17:00 (GMT+3:00);
  • - Publication of the FOMC protocols at 21:00 (GMT+3:00).
EUR/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 EUR/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the EUR/USD quotes growth.

Trading recommendations
  • Support levels: 1.16800, 1.16500, 1.16100
  • Resistance levels: 1.17100, 1.17500

If the price fixes above the resistance level of 1.17100, further growth of the EUR/USD currency pair is expected. The movement is tending to 1.17500-1.17700.

Alternative option. If the price fixes below the already "mirror" support of 1.16800, we recommend looking for entry points to the market to open short positions. The target movement level is 1.16500-1.16100.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31891
  • Open: 1.32395
  • % chg. over the last day: +0.27
  • Day's range: 1.32376 – 1.32516
  • 52 wk range: 1.2361– 1.4345

The bullish sentiment is still observed on the GBP/USD currency pair. The pound is supported by positive statistics from the UK. Yesterday, the index of economic activity in the services sector in June was published, which counted to 55.1 and was higher than the forecasted value of 53.9. At the moment, the key support and resistance levels are 1.32200 and 1.32550, respectively. We recommend opening positions from these marks. The trading instrument has the potential for further growth.

The news feed on the UK economy is calm.

GBP/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, but below the signal line, which gives a weak signal to buy GBP/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates the growth of the trading instrument.

Trading recommendations
  • Support levels: 1.32200, 1.31800, 1.31400
  • Resistance levels: 1.32550, 1.32900, 1.33200

If the price fixes above the resistance of 1.32550, the GBP/USD quotes are expected to grow. The movement is tending to 1.32900-1.33200.

Alternative option. If the price fixes below 1.32200, it is necessary to consider sales of GBP/USD. The movement is tending to 1.31800-1.31600.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31381
  • Open: 1.31394
  • % chg. over the last day: +0.01
  • Day's range: 1.31367 – 1.31467
  • 52 wk range: 1.2059 – 1.3795

The technical pattern on the USD/CAD currency pair is ambiguous. Quotes are in a sideways trend. Investors took a wait-and-see attitude before the publication of the FOMC protocols. Local support and resistance levels are 1.31250 and 1.31650, respectively. We recommend opening positions from these marks.

Today, the publication of important news from Canada is not expected. We recommend paying attention to the US news feed.

USD/CAD

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

The MACD histogram is near the 0 mark.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a decrease in the USD/CAD quotes.

Trading recommendations
  • Support levels: 1.31250, 1.30800
  • Resistance levels: 1.31650, 1.32000, 1.32500

If the price fixes below the support of 1.31250, it is necessary to consider sales of USD/CAD. The movement is tending to 1.30800-1.30600.

Alternative option. If the price fixes above 1.31650, the USD/CAD quotes are expected to rise. The target movement level is 1.32000-1.32200.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.555
  • Open: 110.613
  • % chg. over the last day: -0.08
  • Day's range: 110.604 – 110.689
  • 52 wk range: 104.56 – 114.74

During today's trading session, the USD/JPY currency pair has been increasing. We expect important economic statistics from the United States. At the moment, the key support and resistance levels are 110.500 and 111.750, respectively. Positions should be opened from the key levels. The further growth of the trading instrument is not excluded.

The news feed on the economy of Japan is calm.

USD/JPY

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

The MACD histogram is near the 0 mark. There are no signals at the moment.

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

Trading recommendations
  • Support levels: 110.500, 110.200, 109.900
  • Resistance levels: 110.750, 111.000

If the price fixes below the support level of 110.500, we recommend considering sales of USD/JPY. The movement is tending to 110.200-109.900.

Alternative option. If the price fixes above the 110.750 mark, it is necessary to look for entry points to the market to open long positions. The target movement levels is 111.000-111.300.

by JustForex, 2018.07.05

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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