The Analytical Overview of the Main Currency Pairs on 2018.06.18

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.15664
  • Open: 1.15890
  • % chg. over the last day: +0.35
  • Day's range: 1.15680 – 1.15793
  • 52 wk range: 1.0571 – 1.2557

On Friday, a correction was observed on the EUR/USD currency pair. At the moment, the technical pattern is ambiguous. Investors expect additional drivers. The key support and resistance levels are 1.15500 and 1.16000, respectively. Demand for the American currency is at a fairly high level. The EUR/USD quotes have the potential for further decline. We recommend opening positions from these marks.

Important economic news is not expected to be published today. We recommend paying attention to the speech of the ECB President Mario Draghi.

EUR/USD

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

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

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which also indicates a decrease of EUR/USD.

Trading recommendations
  • Support levels: 1.15500, 1.15000
  • Resistance levels: 1.16000, 1.16600, 1.17200

If the price fixes above the round level of 1.16000, the EUR/USD quotes correction is expected. The movement is tending to 1.16400-1.16600.

Alternative option. If the price fixes below 1.15500, we recommend considering sales. The target movement level is 1.15000-1.14800.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32604
  • Open: 1.32662
  • % chg. over the last day: +0.17
  • Day's range: 1.32315 – 1.32483
  • 52 wk range: 1.2361 – 1.4345

The bearish sentiment is prevailing on the GBP/USD currency pair. Nevertheless, technical correction is not ruled out in the near future. Investors expect the Bank of England decision on the interest rate. At the moment, the key support and resistance levels are 1.32300 and 1.32700. The positions should be opened from these marks.

Today, publication of important economic data from the UK is not expected.

GBP/USD

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

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

Trading recommendations
  • Support levels: 1.32300, 1.31800
  • Resistance levels: 1.32700, 1.33100, 1.33600

If the price fixes below 1.32300, the GBP/USD quotes are expected to decline. The movement is tending to 1.31800-1.31600.

Alternative option. If the price fixes above the resistance of 1.32700, we recommend considering purchases of GBP/USD. The movement is tending to 1.33000-1.33300.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30937
  • Open: 1.31805
  • % chg. over the last day: +0.76
  • Day's range: 1.31771 – 1.31883
  • 52 wk range: 1.2059 – 1.3795

On Friday, the Canadian dollar continued to lose ground against the US dollar. The USD/CAD quotes growth exceeded 100 points. At the moment, the key support and resistance levels are 1.31600 and 1.32000, respectively. The positions should be opened from these marks. In the near future, technical correction is not ruled out.

The news feed on the economy of Canada is calm.

USD/CAD

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

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 moving out of the oversold zone, the %K line is above the %D line, which gives a strong signal to buy USD/CAD.

Trading recommendations
  • Support levels: 1.31600, 1.31100, 1.30600
  • Resistance levels: 1.32000, 1.32400

If the price fixes below the local support of 1.31600, the USD/CAD currency pair is expected to correct. The movement is tending to 1.31100-1.30800.

Alternative option. If the price fixes above the round level of 1.32000, further growth of the USD/CAD quotes is expected. The target movement level is 1.32400-1.32600.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.627
  • Open: 110.665
  • % chg. over the last day: +0.04
  • Day's range: 110.515 – 110.616
  • 52 wk range: 104.56 – 114.74

There is a variety of trends on the USD/JPY currency pair. The technical pattern is ambiguous. The key support and resistance levels are 110.400 and 110.700, respectively. The positions should be opened from these marks. We recommend paying attention to the US government bonds yield.

Today, the ambiguous statistics on trade balance of Japan have been published.

USD/JPY

Indicators do not send accurate signals: the price is testing 50 MA.

The MACD histogram is near the 0 mark.

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

Trading recommendations
  • Support levels: 110.400, 110.100, 109.800
  • Resistance levels: 110.700, 110.900

If the price fixes above 110.700, it is necessary to look for entry points to the market to open long positions. The movement is tending to 111.000-111.200.

Alternative option. If the price fixes below the support of 110.400, the USD/JPY currency pair is expected to decline. The target movement level is 110.100-109.800.

by JustForex, 2018.06.18

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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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