The Analytical Overview of the Main Currency Pairs on 2018.08.03

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16591
  • Open: 1.15835
  • % chg. over the last day: -0.64
  • Day's range: 1.15769 – 1.15950
  • 52 wk range: 1.0571 – 1.2557

Yesterday, the euro continued to lose ground against the US dollar. The drop in quotes exceeded 75 points. At the moment, the EUR/USD currency pair is consolidating. Demand for the US dollar is at a fairly high level. Investors expect statistics on the labor market in the US. The key trading range is 1.15750-1.16000. We recommend opening positions from these marks.

The news feed on 2018.08.03:

At 15:30 (GMT+3:00) a report on the US labor market will be published.

EUR/USD

Indicators point to the power of sellers. 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 EUR/USD.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.

Trading recommendations
  • Support levels: 1.15750, 1.15400, 1.15000
  • Resistance levels: 1.16000, 1.16250, 1.16550

If the price fixes below the support level of 1.15750, the EUR/USD quotes are expected to fall further. The movement is tending to 1.15400-1.15000.

Alternative option. If the price fixes above the round level of 1.16000, it is necessary to consider purchases of EUR/USD. The movement is tending to 1.16500-1.16750.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31158
  • Open: 1.30115
  • % chg. over the last day: -0.84
  • Day's range: 1.30028 – 1.30273
  • 52 wk range: 1.2361 – 1.4345

Yesterday's trading on the GBP/USD currency pair was very active. The Bank of England, as expected, raised the key interest rate by 25 basis points to 0.75%. The regulator expressed concern about Brexit. At the moment, the GBP/USD quotes are consolidating in the range of 1.30000-1.30300. The positions should be opened from these marks. We recommend paying attention to the report on the labor market in the US.

The news feed on the UK economy:

At 11:30 (GMT+3:00) the index of economic activity in the UK services sector will be published.

GBP/USD

Indicators point the power of sellers. The price has fixed below 50 MA and 200 MA.

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

Stochastic Oscillator is located in the neutral zone, the %K line below the %D line, which indicates the bearish sentiment.

Trading recommendations
  • Support levels: 1.30000, 1.29500
  • Resistance levels: 1.30300, 1.30550, 1.30700

If the price fixes below the round level of 1.30000, it is necessary to look for entry points to the market to open short positions. The movement is tending to 1.29500-1.29250.

Alternative option. If the price fixes above 1.30300, the GBP/USD quotes are expected to rise. The movement is tending to 1.30500-1.30700.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29988
  • Open: 1.30187
  • % chg. over the last day: +0.15
  • Day's range: 1.30092 – 1.30303
  • 52 wk range: 1.2059 – 1.3795

The technical pattern on the USD/CAD currency pair is still ambiguous. The trading instrument is in a sideways trend. At the moment, local support and resistance levels are 1.30000 and 1.30300, respectively. We recommend opening positions from these marks. Investors expect statistics on the labor market in the US.

At 15:30 (GMT+3:00) data on the trade balance of Canada will be published.

USD/CAD

Indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA.

The MACD histogram is near 0 mark.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, there are no signals at the moment.

Trading recommendations
  • Support levels: 1.30000, 1.29800, 1.29500
  • Resistance levels: 1.30300, 1.30750, 1.31200

If the price fixes above the resistance level of 1.30300, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.30700-1.31000.

Alternative option. If the price fixes below the round level of 1.30000, the USD/CAD quotes are expected to fall. The movement is tending to 1.29750-1.29500.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.709
  • Open: 111.634
  • % chg. over the last day: -0.02
  • Day`s range: 111.608 – 111.783
  • 52 wk range: 104.56 – 114.74

At the moment, the USD/JPY quotes are consolidating. The technical pattern is ambiguous. Financial market participants expect a report on the labor market in the US. Local support and resistance levels are 111.550 and 111.750, respectively. The positions should be opened from these marks.

The news feed on the economy of Japan 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 located in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 111.550, 111.350, 111.000
  • Resistance levels: 111.750, 112.000, 112.150

If the price fixes below 111.550, the USD/JPY quotes are expected to fall. The movement is tending to the round level of 111.000.

Alternative option. If the price fixes above the "mirror" resistance of 111.750, it is necessary to consider purchases of USD/JPY. The movement is tending to 112.000-112.250.

by JustForex, 2018.08.03

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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