The Analytical Overview of the Main Currency Pairs on 2017.11.09

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.15859
  • Open: 1.15939
  • % chg. over the last day: +0.08
  • Day's range: 1.15856 – 1.16156
  • 52 wk range: 1.0341 – 1.2069

The EUR/USD currency pair is still in the flat. Participants of the financial markets expect additional drivers. The key levels of support and resistance are still: 1.15800 and 1.16200 respectively. Today, the publication of important statistics on the economy of the Eurozone is not planned. We recommend you to pay attention to the government bonds yield and monitor the current information on the tax reform in the US.

At 15:30 (GMT+2:00) the data on the number of initial jobless claims in the US will be released.

EUR/USD

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

The MACD histogram is near the 0 mark.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, that the signal to sell EUR/USD.

Trading recommendations
  • Support levels: 1.15800, 1.15500
  • Resistance levels: 1.16200, 1.16600, 1.17000

If the price fixes below the support level of 1.15800, we recommend you to look for entry points to the market to open short positions. The movement is tending to 1.15500-1.15250.

Alternative option. If the EUR/USD quotes overcome the level of 1.16200, it is necessary to consider purchases. The target movement level is 1.16600-1.16850.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31663
  • Open: 1.31145
  • % chg. over the last day: -0.40
  • Day's range: 1.31053 – 1.31529
  • 52 wk range: 1.1450 – 1.3618

Yesterday, sales prevailed on GBP/USD. Nevertheless, the trading instrument held a round level of 1.31000, which caused a correction movement. At the moment, the technical pattern is ambiguous. The following key support and resistance levels can be identified: 1.31250 and 1.31750, respectively. The positions must be opened from these marks.

The news background on the UK economy is calm today.

GBP/USD

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

The MACD histogram is located near the 0 mark.

Stochastic Oscillator has begun to exit the overbought zone, the %K line is below the %D line, which gives a signal to sell GBP/USD.

Trading recommendations
  • Support levels: 1.31250, 1.30750, 1.30400
  • Resistance levels: 1.31750, 1.32400

If the price fixes below the support level of 1.31250, we recommend you to look for entry points to the market to open short positions. The movement is tending to 1.30750-1.30400.

Alternative option. If the price fixes above 1.31750, it is necessary to consider buying GBP/USD. The target movement level is 1.32000-1.32400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.27762
  • Open: 1.27207
  • % chg. over the last day: -0.36
  • Day's range: 1.27120 – 1.27404
  • 52 wk range: 1.2059 – 1.3795

At the moment, the bearish sentiment prevails on the USD/CAD currency pair. Yesterday, support for the Canadian dollar was provided by positive statistics on the real estate market. The price is testing the key demand zone of 1.27000-1.27200. The trading instrument has the potential to further reduce. We recommend paying attention to the news on the US economy and the dynamics of oil quotations.

At 15:30 (GMT+2:00) the price index for new housing in Canada will be published.

USD/CAD

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 and continues to decline, which signals a downward trend in 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: 1.27200, 1.27000
  • Resistance levels: 1.27500, 1.27750, 1.28000

If the price fixes below the level of 1.27200, we recommend considering selling USD/CAD. The movement is tending to 1.27000-1.26750. When following a position, one should use a trailing stop.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.988
  • Open: 113.807
  • % chg. over the last day: -0.09
  • Day's range: 113.419 – 114.070
  • 52 wk range: 99.53 – 118.67

Last session trades on USD/JPY are pretty active. At the same time, a unidirectional trend is not observed. The trading instrument is in a sideways trend. At the moment, the key support and resistance levels are 113.400 and 113.750, respectively. The positions must be opened from these marks.

We recommend paying attention to the news background on the US economy.

USD/JPY

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

The MACD histogram is in the negative zone and continues to decline, which signals a bearish sentiment on USD/JPY.

Stochastic Oscillator has reached the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 113.400, 113.000
  • Resistance levels: 113.750, 114.000, 114.250

If the price fixes below the level of 113.400, we recommend considering selling USD/JPY. The movement is tending to the round level of 113.000.

Alternative option. If the price fixes above the level of 113.750, it is necessary to consider buying USD/JPY. The target movement level is 114.000-114.250.

by JustForex, 2017.11.09

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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.