The Analytical Overview of the Main Currency Pairs on 2018.08.14

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13721
  • Open: 1.14099
  • % chg. over the last day: +0.05
  • Day's range: 1.13949 – 1.14248
  • 52 wk range: 1.0571 – 1.2557

The single currency recovered slightly after a sharp decline last week. Political tension between the US and Turkey is still in the spotlight. At the moment the EUR/USD quotations are consolidating. Local support and resistance levels are 1.14000 and 1.14300, respectively. We recommend opening positions from these marks. In the near future, we do not exclude the technical correction of the EUR/USD currency pair.

The news feed 14.08.2018:
  • - Preliminary data on the GDP of the Eurozone at 12:00 (GMT+3:00);
  • - ZEW economic sentiment index in Germany at 12:00 (GMT+3:00);
  • - Export and import price indices in the USA at 15:30 (GMT+3:00).
EUR/USD

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

The MACD histogram is located near the 0 mark.

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: 1.14000, 1.13650
  • Resistance levels: 1.14300, 1.14700, 1.15350

If the price fixes above the resistance level of 1.14300, the correction of the EUR/USD currency pair is expected. The movement is tending to 1.14700-1.15000

Alternative option. If the price fixes below the round level of 1.14000, you need to look for entry points to the market to open short positions. The movement is tending to 1.13700-1.13500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27406
  • Open: 1.27577
  • % chg. over the last day: +0.03
  • Day's range: 1.27469 – 1.27988
  • 52 wk range: 1.2361 – 1.4345

The GBP/USD currency pair is still consolidating. At the moment, the key support and resistance levels are: 1.27350 and 1.27900, respectively. In the near future, a technical correction is not ruled out. Participants in financial markets expect important statistics from the UK. Positions must be opened from the key levels.

At 11:30 (GMT+3:00) a report on the UK labor market will be published.

GBP/USD

Indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA.

The MACD histogram has begun to rise, indicating the power of the buyers.

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

Trading recommendations
  • Support levels: 1.27350, 1.27000
  • Resistance levels: 1.27900, 1.28500, 1.29000

If the price fixes above the 1.27900 mark, corrective movement is expected. The target level for profit taking is 1.28400-1.28500.

An alternative may be a decrease of GBP/USD to the level of 1.27400-1.27250.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31601
  • Open: 1.31259
  • % chg. over the last day: -0.14
  • Day's range: 1.30905 – 1.31364
  • 52 wk range: 1.2059 – 1.3795

At the moment, sales are prevailing on the USD/CAD currency pair. Quotations are testing the local demand zone of 1.30750-1.30900. The mark 1.31200 is already a "mirror" resistance. Participants in financial markets expect additional drivers. The trading instrument is tending to reduce. We recommend opening positions from key levels.

Today, the news feed on Canada's economy is calm.

USD/CAD

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

The MACD histogram has moved to the negative zone and continues to decline, which signals the bearish sentiment.

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

Trading recommendations
  • Support levels: 1.30900, 1.30300, 1.30000
  • Resistance levels: 1.31200, 1.31650, 1.32000

If the price fixes below 1.30900, the USD/CAD quotes are expected to fall. The movement is tending to 1.30500-1.30300.

Alternative option. If the price fixes above 1.31350, it is necessary to consider buying USD/CAD. The movement is tending to 1.31600-1.31900.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.429
  • Open: 110.640
  • % chg. over the last day: +0.06
  • Day`s range: 110.586 – 111.152
  • 52 wk range: 104.56 – 114.74

Since the beginning of this week, the bullish sentiment have been prevailing on the USD/JPY currency pair. At the moment, quotes are testing the key resistance of 111.150. The 110.800 mark is already a "mirror" support. The trading instrument is tending to grow. Positions must be opened from the key levels. We recommend you to pay attention to the dynamics of the US government bond yield.

In the Asian trading session weak data on the volume of industrial production in Japan has been published.

USD/JPY

Indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA.

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

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

Trading recommendations
  • Support levels: 110.800, 110.600, 110.200
  • Resistance levels: 111.150, 111.450, 111.700

If the price fixes above the resistance level of 111.150, further growth of the USD/JPY currency pair is expected. The movement is tending to 111.450-111.700.

Alternative option. If the price fixes below 110.800, sales of USD/JPY should be considered. The movement is tending to 110.400-110.200.

by JustForex, 2018.08.14

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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