The Analytical Overview of the Main Currency Pairs on 2017.09.13

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.19510
  • Open: 1.19659
  • % chg. over the last day: +0.15
  • Day's range: 1.19607 – 1.19930
  • 52 wk range: 1.0341 – 1.2069

At the moment, the EUR/USD currency pair is consolidating. The technical pattern is ambiguous. The key support and resistance levels are 1.19600 and 1.20000, respectively. Participants of the financial markets expect additional drivers. We recommend opening positions from key levels.

The news background on 2017.09.13:

  • - The volume of industrial production in the Eurozone at 12:00 (GMT+3:00)
  • The producer price index in the US at 15:30 (GMT+3:00).
EUR/USD

The price is close to 50 MA, which is currently quite strong dynamic support.

The MACD histogram has begun to rise and moved to the positive zone, which indicates the power of buyers.

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

Trading recommendations
  • Support levels: 1.19600, 1.19000
  • Resistance levels: 1.20000, 1.20500

If the price fixes below 1.19600, we recommend considering sales of EUR/USD. The target movement level is 1.19100-1.19000.

Alternative option. If the EUR/USD quotes overcome the round level of 1.20000, it is necessary to search for entry points to the market to open long positions. The movement is tending to the local resistance of 1.20500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31606
  • Open: 1.32815
  • % chg. over the last day: +0.96
  • Day's range: 1.32751 – 1.33287
  • 52 wk range: 1.1450 – 1.3447

Yesterday aggressive purchases were observed on GBP/USD. The growth of quotations exceeded 150 points. Statistics on inflation in the UK supported the pound. In August, consumer prices in the country increased by 2.9%, which is higher than the market expectations of 2.8%. At the same time, some experts believe that a significant acceleration of inflation can lead to a decline in living standards in the UK. At the moment, the key trading range is 1.32700-1.33250.

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

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 continues to rise, which signals the purchase of GBP/USD.

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

Trading recommendations
  • Support levels: 1.32700, 1.32150
  • Resistance levels: 1.33250

If the report on the UK labor market is optimistic, further growth of the GBP/USD quotes is possible. The movement is tending to 1.33750-1.34000.

An alternative may be the correction of the GBP/USD currency pair to 1.32700-1.32150. When tracking the position, we recommend using a trailing stop.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.21119
  • Open: 1.21850
  • % chg. over the last day: +0.55
  • Day's range: 1.21530 – 1.21855
  • 52 wk range: 1.2414 – 1.3795

Yesterday the USD/CAD currency pair held the key demand zone of 1.20650-1.21000, which caused a correction movement. The Canadian dollar weakened against the US dollar by more than 75 points. At the moment, the currency is testing the "mirror" support of 1.21600. We are waiting for statistics from the USA.

The publication of important economic reports from Canada today is not planned.

USD/CAD

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

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 has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.21600, 1.21000
  • Resistance levels: 1.22350, 1.23000

If the statistics from the US turns out to be positive, the correction of the USD/CAD currency pair may continue. The target movement level is 1.22350-1.23000.

Alternatively, USD/CAD may drop to 1.21000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.383
  • Open: 110.126
  • % chg. over the last day: +0.75
  • Day's range: 109.905 – 110.291
  • 52 wk range: 99.53 – 118.67

Yesterday, the "safe haven" currency continued to lose ground against the US dollar. The growth of the USD/JPY quotations exceeded 90 points. The currency found resistance at 110.250. The nearest support is at around 109.800. Currently, USD/JPY is consolidating. We recommend opening positions from key levels.

It is necessary to pay attention to the news background from the USA.

USD/JPY

Indicators do not send accurate signals. The price has fixed above 50 MA and 200 MA, which signals the power of buyers.

The MACD histogram has begun to decline and is below the signal line, which indicates the bearish sentiment on USD/JPY.

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

Trading recommendations
  • Support levels: 109.800, 109.250
  • Resistance levels: 110.250, 110.600

If the statistics from the US turns out to be positive, the growth of the USD/JPY currency pair may continue. The movement is tending to 110.600-110.750.

Alternatively, USD/JPY may drop to 109.500-109.250.

by JustForex, 2017.09.13

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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.