The Analytical Overview of the Main Currency Pairs on 2018.03.30

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23073
  • Open: 1.22988
  • % chg. over the last day: -0.04
  • Day's range: 1.22869 – 1.23213
  • 52 wk range: 1.0571 – 1.2557

At the moment, the EUR/USD currency pair is consolidating. The technical pattern is ambiguous. The key levels of support and resistance are still 1.23000 and 1.23350 respectively. We recommend opening positions from these marks. Today we expect a weak trading activity due to Good Friday.

The publication of important economic reports is not planned.

EUR/USD

The signals of the indicators are different. The price has fixed below 50 MA and 200 MA.

The MACD histogram has begun to rise and is above the signal line, which indicates the growth of the EUR/USD quotes.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which sends a signal to sell EUR/USD.

Trading recommendations
  • Support levels: 1.23000, 1.22600
  • Resistance levels: 1.23350, 1.23750, 1.24200

If the price fixes below the round level of 1.23000, a further drop in EUR/USD is expected. The movement is tending to 1.22600-1.22400.

Alternative option. If the price fixes above 1.23350, you need to look for entry points in the market to open long positions. The movement is tending to 1.23750-1.24000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.40759
  • Open: 1.40173
  • % chg. over the last day: -0.37
  • Day's range: 1.40123 – 1.40498
  • 52 wk range: 1.2361– 1.4345

The National Statistical Office of Great Britain reported that in the fourth quarter the country's GDP growth was 1.4% (year-on-year), which met the market expectations. At the moment, the technical pattern is ambiguous. GBP/USD is consolidating in the range of 1.40150-1.40650. Today we expect weak trading activity. Positions must be opened from the key levels.

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 the sellers.

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 is crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.40150, 1.39850, 1.39500
  • Resistance levels: 1.40650, 1.41200

If the price fixes below 1.40150, it is necessary to consider sales of GBP/USD. The movement is tending to 1.39850-1.39500.

Alternative option. If the price fixes above 1.40650, GBP/USD is expected to rise. The movement is tending to 1.41000-1.41200.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29206
  • Open: 1.28816
  • % chg. over the last day: -0.26
  • Day's range: 1.28814 – 1.28940
  • 52 wk range: 1.2059 – 1.3795

Yesterday's report on Canada's GDP did not have a significant impact on the Canadian dollar rate. The USD/CAD quotes continue to consolidate. The technical pattern is still ambiguous. At the moment, USD/CAD is testing local support and resistance levels: 1.28650 and 1.29000, respectively. We recommend opening positions from these marks.

The news feed on Canada's economy is calm.

USD/CAD

The signals of the indicators are different. The price has fixed below 50 MA and 200 MA.

The MACD histogram is located in the negative zone and continues to decline, which gives a signal to sell USD/CAD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the growth of the USD/CAD quotes.

Trading recommendations
  • Support levels: 1.28650, 1.28250
  • Resistance levels: 1.29000, 1.29400, 1.29800

If the price fixes above the round level of 1.29000, the growth of the USD/CAD currency pair is expected. The movement is tending to 1.29400-1.29500.

An alternative may be the correction of the USD/CAD quotations to the level of 1.28400-1.28250.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.842
  • Open: 106.410
  • 5 chg. over the last day: -0.36
  • Day's range: 106.130 – 106.533
  • 52 wk range: 104.56 – 114.74

On the USD/JPY currency pair there is an ambiguous technical pattern. At the moment, the trading instrument is consolidating. The key range is 106.150-106.500. Further correction of the USD/JPY quotations is possible after a significant growth at the beginning of this week. We recommend opening positions from the key support and resistance levels.

In the Asian trading session, weak economic reports from Japan were published.

USD/JPY

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

The MACD histogram is located in the negative zone and continues to decline, which indicates a correction of the USD/JPY currency pair.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell USD/JPY.

Trading recommendations
  • Support levels: 106.150, 105.750
  • Resistance levels: 106.500, 106.750, 107.000

If the price fixes above the 106.500 mark, you should consider buying USD/JPY. The movement is tending to 106.750-107.000.

Alternative option. If the price fixes below the 106.150 level, further correction of the USD/JPY quotes is expected. The target movement level is 105.750.

by JustForex, 2018.03.30

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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