The Analytical Overview of the Main Currency Pairs on 2018.03.27

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23492
  • Open: 1.24492
  • % chg. over the last day: +0.83
  • Day's range: 1.24448 – 1.24501
  • 52 wk range: 1.0492 – 1.2537

Yesterday, there were aggressive purchases on the EUR/USD currency pair. The growth of quotes exceeded 100 points. The reason for this was the US dollar weakening against the possible beginning of the trade war. Also, the president of the Deutsche Bundesbank, Jens Weidmann, said that the forecasts of the financial market participants about the interest rate increase in the middle of the next year could be confirmed. At the moment, the EUR/USD currency pair is consolidating. The trading instrument is testing local support and resistance levels: 1.24400 and 1.24700, respectively. Positions must be opened above/below these marks.

The news feed on 2018.03.27:
  • - CB consumer confidence at 17:00 (GMT+3).
EUR/USD

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

The MACD histogram is located in the positive zone, but below the signal line, which gives a weak signal to buy EUR/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which signals to buy EUR/USD.

Trading recommendations
  • Support levels: 1.24400, 1.24000, 1.23600
  • Resistance levels: 1.24700, 1.25000, 1.25400

If the price fixes above 1.24700, the EUR/USD currency pair is expected to grow. The movement is tending potentially to 1.25000-1.25400.

Alternative option. If the price fixes below the support level of 1.24400, we recommend considering sales of EUR/USD. The movement is tending potentially to 1.24000-1.23600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.41327
  • Open: 1.42253
  • % chg. over the last day: +0.64
  • Day's range: 1.42175 – 1.42436
  • 52 wk range: 1.2106 – 1.4345

Yesterday, an upward trend prevailed on the GBP/USD currency pair. The pound grew against the US dollar by more than 70 points. At the moment, the technical pattern is ambiguous. Investors expect additional drivers. Correction is not excluded in the near future. The key trading range is 1.42000-1.42450. We recommend you to open positions from the key levels.

The news feed on the UK economy is calm.

GBP/USD

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

The MACD histogram is located in the positive zone, but below the signal line, which gives a weak signal to buy GBP/USD.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which signals to sell GBP/USD.

Trading recommendations
  • Support levels: 1.42000, 1.41400, 1.41000
  • Resistance levels: 1.42450, 1.42700

If the price fixes above 1.42450, it is necessary to consider purchases of GBP/USD. The movement is tending potentially to 1.42700-1.43000.

Alternative option. If the price fixes below the round level of 1.42000, the correction of the GBP/USD quotes is expected. The movement is tending potentially to 1.41500-1.41200.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28836
  • Open: 1.28434
  • % chg. over the last day: -0.34
  • Day's range: 1.28434 – 1.28549
  • 52 wk range: 1.2059 – 1.3795

At the moment, the technical pattern is ambiguous on the USD/CAD currency pair. Investors expect additional drivers. The key trading range is 1.28200-1.28500. The positions must be opened from these marks. The Canadian dollar is supported by a positive dynamics in the "black gold" market.

The news feed on Canada's economy is calm.

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 below the signal line, which gives a signal to sell USD/CAD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the correction of the USD/CAD quotes.

Trading recommendations
  • Support levels: 1.28200, 1.27800, 1.27400
  • Resistance levels: 1.28500, 1.29000, 1.29400

If the price fixes below 1.28200, the USD/CAD currency pair is expected to decline. The movement is tending potentially to 1.27800-1.27400.

Alternative option. If the price fixes above 1.28500, it is necessary to consider purchases of USD/CAD. The target movement level is the round level of 1.29000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 104.655
  • Open: 105.405
  • % chg. over the last day: +0.67
  • Day's range: 105.497 – 105.683
  • 52 wk range: 107.33 – 115.51

Yesterday, there were purchases on the USD/JPY currency pair. The growth of quotes exceeded 70 points. The yen weakened due to the scandal concerning the Japanese prime minister. Today a hearing will be held on this issue in the Japanese Parliament. At the moment, the trading instrument is testing local support and resistance levels: 105.400 and 105.650. The positions must be opened from these marks.

The news feed on Japan's economy is calm.

USD/JPY

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

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.

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

Trading recommendations
  • Support levels: 105.400, 105.000, 104.750
  • Resistance levels: 105.650, 106.000, 106.300

If the price fixes above the level of 105.650, the USD/JPY currency pair is expected to grow. The target movement level is 106.000-106.300.

Alternative option. If the price fixes below the support level of 105.400, it is necessary to consider sales of USD/JPY. The movement is tending potentially to 105.000-104.750.

by JustForex, 2018.03.27

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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