The Analytical Overview of the Main Currency Pairs on 2018.04.13

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.23661
  • Open: 1.23256
  • % chg. over the last day: -0.30
  • Day's range: 1.23239 – 1.23284
  • 52 wk range: 1.0571 – 1.2557

There are sales on the EUR/USD currency pair. Quotes fell by more than 90 points. Yesterday, the minutes of the ECB last meeting were published. The regulator expressed fears that world economic growth could slow down due to a possible trade war. Also, officials of the ECB noted that inflation was unstable. At the moment, the trading instrument is moving in flat. Local support and resistance levels are 1.23100 and 1.23400, respectively. We recommend opening positions from these marks.

The news feed on 2018.04.13:
  • - JOLTs job openings at 17:00 (GMT+3:00);
  • - Michigan consumer sentiment and expectations at 17:00 (GMT+3:00).
EUR/USD

The signals of the indicators are ambiguous. The price has fixed between 50 MA and 200 MA, which are dynamic support and resistance levels.

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

Trading recommendations
  • Support levels: 1.23100, 1.22800, 1.22400
  • Resistance levels: 1.23400, 1.23700, 1.24000

If the price fixes above the local resistance of 1.23400, the EUR/USD currency pair is expected to grow. The target movement level is 1.23700-1.24000.

Alternative option. If the price fixes below 1.23100, it is necessary to consider sales of EUR/USD. The movement is tending potentially to 1.22800-1.22400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.41733
  • Open: 1.42264
  • % chg. over the last day: +0.42
  • Day's range: 1.42264 – 1.42351
  • 52 wk range: 1.2361– 1.4345

Yesterday, the bullish sentiment was observed on the GBP/USD currency pair. The growth of quotes exceeded 70 points. The further growth of the trading instrument is not excluded. At the moment, the key trading range is 1.42200-1.42800. The positions must be opened from these marks.

The publication of important economic reports from the UK is not planned today.

GBP/USD

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

The MACD histogram is in the positive zone, above the signal line, which gives a strong signal to buy 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: 1.42200, 1.41700, 1.41200
  • Resistance levels: 1.42800, 1.43200

If the price fixes above the resistance of 1.42800, further growth of the GBP/USD currency pair is expected. The movement is tending potentially to 1.43200-1.43400.

An alternative may be the decrease of the GBP/USD currency pair to 1.42200-1.41700.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.25660
  • Open: 1.25889
  • % chg. over the last day: +0.06
  • Day's range: 1.25601 – 1.25786
  • 52 wk range: 1.2059 – 1.3795

The USD/CAD currency pair is still in a sideways trend. Investors closely follow the events in Syria and the actions of the United States. Local support and resistance levels are 1.25500 and 1.26100. In the near future, a technical correction is not ruled out. We recommend opening positions from the key levels.

The news feed on Canada's economy is calm.

USD/CAD

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 gives a signal to sell USD/CAD.

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

Trading recommendations
  • Support levels: 1.25500, 1.25000
  • Resistance levels: 1.26100, 1.26600, 1.27200

If the price fixes below 1.25500, the USD/CAD quotes are expected to decline. The movement is tending potentially to the round level of 1.25000.

Alternative option. If the price fixes above the resistance of 1.26100, it is necessary to consider purchases of USD/CAD. The target movement level is 1.26600-1.26800.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.783
  • Open: 107.303
  • % chg. over the last day: +0.42
  • Day's range: 107.556 – 107.675
  • 52 wk range: 104.56 – 114.74

The US dollar is strengthening relative to the Japanese yen against the growth of the 10-year US government bonds yield. During yesterday's and today's trading quotes rose by almost 90 points. At the moment, the key support and resistance levels are 107.450 and 107.750, respectively. Financial market participants expect additional drivers. We recommend opening positions from the key levels.

The news feed on Japan's economy is calm.

USD/JPY

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, above the signal line, which gives a strong signal to buy USD/JPY.

Stochastic Oscillator is in the overbought zone, the %K line is above the %D line, which also gives a weak signal to buy USD/JPY.

Trading recommendations
  • Support levels: 107.450, 107.100, 106.700
  • Resistance levels: 107.750, 108.000

If the price fixes above 107.750, the USD/JPY growth is expected. The movement is tending potentially to 108.000-108.250.

Alternative option. If the price fixes below 107.450, correction of the USD/JPY quotes is expected. The target movement level is 107.100-106.700.

by JustForex, 2018.04.13

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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