The Analytical Overview of the Main Currency Pairs on 2018.04.11

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23189
  • Open: 1.23551
  • % chg. over the last day: +0.34
  • Day's range: 1.23501 – 1.23756
  • 52 wk range: 1.0571 – 1.2557

Yesterday the bullish sentiment prevailed on the EUR/USD currency pair. The growth of quotations exceeded 50 points. At the moment, the trading instrument is testing the local resistance of 1.23750. The nearest support is at the level of 1.23550. Participants in financial markets expect important statistics on the US economy. We recommend opening positions from the key levels.

The news feed on the US economy on 2018.04.11:
  • - Inflation report at 15:30 (GMT+3:00);
  • - Publication of the FOMC protocols at 21:00 (GMT+3:00).
EUR/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 and continues to rise, which signals an increase in EUR/USD.

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

Trading recommendations
  • Support levels: 1.23550, 1.23350, 1.23000
  • Resistance levels: 1.23750, 1.24000

If the price fixes above the local resistance of 1.23750, further growth of the EUR/USD currency pair is expected. The movement is tending to 1.24250-1.24500.

Alternative option. If the price fixes below 1.23550, you need to look for entry points to the market to open short positions. The movement is tending to the round level of 1.23000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.41282
  • Open: 1.41749
  • % chg. over the last day: +0.36
  • Day's range: 1.41708 – 1.42150
  • 52 wk range: 1.2361– 1.4345

The GBP/USD currency pair still shows positive dynamics. Since the beginning of this week, the growth of quotations has exceeded 120 points. Yesterday, the support of the pound was provided by Bank of England representative Ian McCafferty. The official said that the Central Bank needs to raise interest rates in the near future. Investors expect important statistics from the US and the UK. The key trading range is 1.41750-1.42150. Positions should be opened from these marks.

At 11:30 (GMT+3:00) data on the production volume in the manufacturing industry in the UK will appear.

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 and continues to rise, which indicates further growth of GBP/USD.

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

Trading recommendations
  • Support levels: 1.41750, 1.41250, 1.40700
  • Resistance levels: 1.42150, 1.42500

If the price fixes above 1.42150, further growth of the GBP/USD currency pair is expected. The movement is tending to 1.42500-1.42750.

An alternative may be the correction of the GBP/USD currency pair to 1.41750-1.41500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.26971
  • Open: 1.25986
  • % chg. over the last day: -0.81
  • Day's range: 1.25906 – 1.26138
  • 52 wk range: 1.2059 – 1.3795

Yesterday, the US dollar continued to lose ground against the Canadian dollar. The fall in the USD/CAD quotations exceeded 100 points. At the moment, the trading instrument is consolidating in the range of 1.25900-1.26300. In the near future, a technical correction is not ruled out. Investors expect economic reports from the United States. We recommend opening positions from the key levels.

The news feed on Canada's economy is calm.

USD/CAD

The signals of the indicators are different. The price has fixed below 50 MA and 200 MA.

The MACD histogram is located in the negative zone, but above the signal line, which gives a weak signal to sell USD/CAD.

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

Trading recommendations
  • Support levels: 1.25900, 1.25500
  • Resistance levels: 1.26300, 1.26750, 1.27150

If the price fixes above the level of 1.26300, the correction of USD/CAD quotes is expected. The movement is tending to 1.26750-1.27000.

Alternative option. If the price fixes below the local resistance of 1.25900, it is necessary to consider sales of USD/CAD. The target level of movement is 1.25500-1.25250.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.758
  • Open: 107.192
  • % chg. over the last day: +0.34
  • Day's range: 106.968 – 107.251
  • 52 wk range: 104.56 – 114.74

The technical pattern on the USD/JPY currency pair is still ambiguous. The trading instrument is still in a flat. The quotes are testing local support and resistance levels: 106.900 and 107.200, respectively. Participants in financial markets expect additional drivers. Today, attention is focused on economic reports from the United States. We recommend opening positions from the key levels.

The news feed on Japan's economy is calm.

USD/JPY

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: 106.900, 106.600, 106.100
  • Resistance levels: 107.200, 107.500

If the price fixes above the 107.200 mark, one should consider buying USD/JPY. The movement is tending to 107.500-107.750.

Alternative option. If the price fixes below the 106.900 level, USD/JPY is expected to fall. The target level of movement is 106.600-106.100.

by JustForex, 2018.04.11

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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