The Analytical Overview of the Main Currency Pairs on 2018.06.21

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.15872
  • Open: 1.15705
  • % chg. over the last day: -0.10
  • Day's range: 1.15691 – 1.15606
  • 52 wk range: 1.0571 – 1.2557

Last sessions, the EUR/USD currency pair has been in a sideways trend. The technical pattern is ambiguous. Demand for the US dollar is at a fairly high level. At the moment, the key support and resistance levels are still 1.15300 and 1.15800, respectively. We recommend opening positions from these marks. In the near future, technical correction is not ruled out.

The news feed on 2018.06.21:
  • - Philadelphia Fed manufacturing index at 15:30 (GMT+3:00).
EUR/USD

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 the bearish sentiment.

Stochastic Oscillator is near the oversold zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.15300, 1.14800
  • Resistance levels: 1.15800, 1.16300, 1.17000

If the price fixes below 1.15300, the EUR/USD currency pair is expected to decline. The movement is tending to 1.14800-1.14600.

Alternative option. If the price fixes above 1.15800, we recommend looking for entry points to the market to open long positions. The target movement level is 1.16300-1.16600.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31729
  • Open: 1.31676
  • % chg. over the last day: -0.06
  • Day's range: 1.31765 – 1.31767
  • 52 wk range: 1.2361 – 1.4345

Sales are observed on the GBP/USD currency pair before the Bank of England meeting. Today, the regulator will announce a decision on the key interest rate. Investors expect that the interest rate will remain unchanged at 0.50%. At the moment, the trading instrument is moving in the range of 1.31200-1.31600. Positions should be opened from the key support and resistance levels.

The news feed on 2018.06.21:
  • - Bank of England interest rate decision at 14:00 (GMT+3:00).

We also recommend paying attention to the speech by the Bank of England Governor.

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

Stochastic Oscillator is located in the oversold zone, the %K line is crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.31200, 1.30800
  • Resistance levels: 1.31600, 1.32100, 1.32600

If the price fixes below 1.31200, further decline in the GBP/USD quotes is expected. The movement is tending to 1.30800-1.30600.

Alternative option. If the price fixes above the resistance of 1.31600, the GBP/USD currency pair correction to 1.32100-1.32300 is expected.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32777
  • Open: 1.33029
  • % chg. over the last day: +0.18
  • Day's range: 1.33174 – 1.33254
  • 52 wk range: 1.2059 – 1.3795

During yesterday's trading session, the USD/CAD currency pair continued to grow. Nevertheless, technical correction is not ruled out in the near future. At the moment, the trading instrument is moving in flat. The key trading range is 1.33000-1.33400. Positions should be opened from the key support and resistance levels.

Today, the publication of important news from Canada is not expected.

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 located in the overbought zone, the %K line crossed the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.33000, 1.32500, 1.32000
  • Resistance levels: 1.33400, 1.33800

If the price fixes below the round level of 1.33000, the USD/CAD currency pair is expected to correct. The movement is tending to the round level of 1.32500-1.32300.

Alternative option. If the price fixes above the 1.33400 mark, we recommend considering purchases of USD/CAD. The target movement level is 1.33750-1.34000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.066
  • Open: 110.352
  • % chg. over the last day: +0.29
  • Day's range: 110.570 – 110.647
  • 52 wk range: 104.56 – 114.74

Yesterday, the bullish sentiment was observed on the USD/JPY currency pair. The US dollar began to recover against the Japanese yen. The growth of quotes exceeded 60 points. At the moment, 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.

The news feed on the economy of Japan 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 in the positive zone and above the signal line, which gives a strong signal to buy USD/JPY.

Stochastic Oscillator has left the overbought zone, the %K line is below the %D line, which indicates a decrease in the USD/JPY quotes.

Trading recommendations
  • Support levels: 110.400, 110.100, 109.800
  • Resistance levels: 110.700, 111.000

If the price fixes above the 110.700 mark, further growth of the USD/JPY currency pair is expected. The movement is tending to 111.000-111.250.

Alternative option. If the price fixes below the support of 110.400, we recommend considering sales of USD/JPY. The target movement level is 110.100-109.800.

by JustForex, 2018.06.21

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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