The Analytical Overview of the Main Currency Pairs on 2018.04.25

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22078
  • Open: 1.22316
  • % chg. over the last day: +0.23
  • Day's range: 1.22015 – 1.22387
  • 52 wk range: 1.0571 – 1.2557

During yesterday's trading, the dollar index moved away from local highs. This movement was mostly caused by technical factors. Demand for the American currency remains. At the moment, the technical pattern on the EUR/USD currency pair is ambiguous. The key trading range is still 1.22000-1.22300. Investors took a wait-and-see attitude before the ECB meeting. We recommend opening positions from key levels.

Today, the publication of important economic reports is not planned.

EUR/USD

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

The MACD histogram has begun to decline and moved to the negative zone, which gives a strong signal to sell EUR/USD.

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

Trading recommendations
  • Support levels: 1.22000, 1.21500
  • Resistance levels: 1.22300, 1.22600, 1.23000

If the price fixes below the round level of 1.22000, the EUR/USD quotations are expected to fall. The movement is tending to 1.21500.

Alternative option. If the price fixes above the resistance level of 1.22300, it is necessary to consider buying EUR/USD. The target movement level is 1.22600-1.22800.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.39387
  • Open: 1.39727
  • % chg. over the last day: -0.38
  • Day's range: 1.39350 – 1.39970
  • 52 wk range: 1.2361– 1.4345

On the GBP/USD currency pair there is an ambiguous technical pattern. The trading instrument is testing the key support and resistance levels: 1.39250 and 1.40000, respectively. Participants in financial markets expect additional drivers. On Friday, April 27, reports on GDP of the United Kingdom and the United States will be published. This statistic may have a significant impact on the further alignment of forces on the GBP/USD currency pair. Positions must be opened from the key levels.

Today, the news feed on the UK economy is calm.

GBP/USD

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

The MACD histogram does not provide accurate signals. The indicator is near the 0 mark.

Stochastic Oscillator is located in the oversold zone,the %K line is below the %D line, which gives a weak signal to sell GBP/USD.

Trading recommendations
  • Support levels: 1.39250, 1.39000
  • Resistance levels: 1.40000, 1.40400, 1.41000

If the price fixes below the support level of 1.39250, further decline in the GBP/USD price is expected. The movement is tending to 1.39000-1.38500.

An alternative may be the correction of the GBP/USD currency pair to 1.39750-1.40000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28459
  • Open: 1.28279
  • % chg. over the last day: +0.60
  • Day's range: 1.28280 – 1.28279
  • 52 wk range: 1.2059 – 1.3795

At the moment, the USD/CAD quotes are in a sideways trend. The key support and resistance levels are: 1.28200 and 1.28600, respectively. In the near future, a technical correction is not ruled out. We recommend paying attention to the dynamics of oil quotations. Positions must be opened from the key levels.

Today, the news feed on Canada's economy is fairly calm. Investors will follow the speech of the Bank of Canada head.

USD/CAD

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

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

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

Trading recommendations
  • Support levels: 1.28200, 1.27700, 1.27300
  • Resistance levels: 1.28600, 1.29000

If the price fixes above 1.28600, further growth of the USD/CAD quotes is expected. The movement is tending to the round level of 1.29000.

Alternative option. If the price fixes below the local support of 1.28200, it is necessary to consider sales of USD/CAD. The movement is tending to 1.27700-1.27500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.707
  • Open: 108.813
  • % chg. over the last day: +0.08
  • Day's range: 108.787 – 109.267
  • 52 wk range: 104.56 – 114.74

USD/JPY continues to show positive dynamics. At the moment, quotes are testing the resistance level of 109.200. Local support is at the level of 108.900. The further growth of USD/JPY is not excluded. We recommend paying attention to the yield of US government bonds. At the moment, the indicator has reached 3%. Positions must be opened from the key levels.

The news feed on Japan's economy is calm.

USD/JPY

Indicators point to the power of buyers. The price has fixed above 50 MA and 200 MA.

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

Stochastic Oscillator is 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: 108.900, 108.600, 108.250
  • Resistance levels: 109.200, 109.500

If the price fixes above the level of 109.200, further growth of the USD/JPY currency pair is expected. The movement is tending to 109.500-109.750.

Alternative option. If the price fixes below the support level of 108.900, it is necessary to consider sales of USD/JPY. The movement is tending to 108.600-108.250.

by JustForex, 2018.04.25

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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.

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