The Analytical Overview of the Main Currency Pairs on 2018.03.19

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23052
  • Open: 1.22876
  • % chg. over the last day: -0.13
  • Day's range: 1.22844 – 1.22919
  • 52 wk range: 1.0492 – 1.2537

On Friday, the bearish sentiment prevailed on the EUR/USD currency pair. At the moment, quotes are testing local support of 1.22600. The 1.22900 mark is already a "mirror" resistance. The trading instrument is tending to reduce. The Fed meeting will be the key event this week. Financial markets participants expect that the regulator will raise key interest rate by 25 basis points to 1.75%. We recommend opening positions from the key levels.

The news feed on 2018.03.19:
  • - The trade balance in the Eurozone at 12:00 (GMT+2:00).
EUR/USD

The price has fixed below 50 MA and 200 MA, which indicates the bearish sentiment.

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 above the %D line, which signals to buy EUR/USD.

Trading recommendations
  • Support levels: 1.22600, 1.22000
  • Resistance levels: 1.22900, 1.23300, 1.23500

If the price fixes below 1.22600, it is necessary to consider sales of EUR/USD. The movement is tending potentially to the round level of 1.22000.

An alternative is the growth of the EUR/USD currency pair to 1.23000-1.23300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.39388
  • Open: 1.39457
  • % chg. over the last day: +0.02
  • Day's range: 1.39218 – 1.39305
  • 52 wk range: 1.2106 – 1.4345

On Friday, there was a variety of trends on the GBP/USD currency pair. At the moment, the key support and resistance levels are: 1.39150 and 1.39450, respectively. We recommend you to open positions above/below these marks. A number of important statistics on the UK economy will be published this week. On Thursday, March 22, the Bank of England will decide on the key interest rate.

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

GBP/USD

The price has fixed between 50 MA and 200 MA, which are strong dynamic support and resistance levels.

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 neutral zone, the %K line is above the %D line, which signals to buy GBP/USD.

Trading recommendations
  • Support levels: 1.39150, 1.38800, 1.38500
  • Resistance levels: 1.39450, 1.39750, 1.40000

If the price fixes above 1.39450, the GBP/USD currency pair is expected to grow. The movement is tending potentially to the round level of 1.40000.

Alternative option. If the GBP/USD quotes fixes below the support level of 1.39150, we recommend looking for entry points to the market to open short positions. The target movement level is 1.38800-1.38500.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30530
  • Open: 1.30936
  • % chg. over the last day: +0.34
  • Day's range: 1.30912 – 1.30983
  • 52 wk range: 1.2059 – 1.3795

The bullish sentiment prevailed on the USD/CAD currency pair. Over the past week, the growth of quotes exceeded 300 points. In the near future, a technical correction is not excluded. On Friday, March 23, a number of important economic reports from Canada will be published. We also recommend paying attention to the two-day meeting of the Fed, which will begin on March 20. The key support and resistance levels are: 1.30900 and 1.31300, respectively. The positions must be opened from these marks.

Today, the news feed on Canada's economy is calm.

USD/CAD

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

The MACD histogram is located in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.

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

Trading recommendations
  • Support levels: 1.30900, 1.30500, 1.30000
  • Resistance levels: 1.31300, 1.31600

If the price fixes above 1.31300, the USD/CAD quotes are expected to grow. The movement is tending potentially to 1.31600-1.31800.

Alternative option. If the price fixes below the support level of 1.30900, it is necessary to consider sales. The movement is tending potentially to 1.30500-1.30200

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.325
  • Open: 105.969
  • % chg. over the last day: -0.30
  • Day's range: 105.816 – 105.937
  • 52 wk range: 107.33 – 115.51

On Friday, there was a variety of trends on the USD/JPY currency pair. Investors are closely following the scandal concerning Prime Minister Shinzo Abe. At the moment, the key support and resistance levels are: 105.700 and 106.000, respectively. We recommend you to open positions from these marks.

Today, mixed data on Japan's trade balance were published.

USD/JPY

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

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: 105.700, 105.500, 105.000
  • Resistance levels: 106.00, 106.300, 106.600

If the price fixes below the 105.700 mark, we recommend you looking for entry points to the market to open short positions. The movement is tending potentially to 105.500-105.250.

Alternative option. If the price fixes above the round level of 106.00, it is necessary to consider purchases of USD/JPY. The movement is tending potentially to 106.300-106.600.

by JustForex, 2018.03.19

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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