The Analytical Overview of the Main Currency Pairs on 2018.09.10

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16212
  • Open: 1.15490
  • % chg. over the last day: -0.59
  • Day's range: 1.15259 – 1.15641
  • 52 wk range: 1.0571 – 1.2557

On Friday, the US dollar strengthened against currency majors. A positive report on the US labor market for August supported the US currency. The EUR/USD currency pair decreased by more than 70 points. At the moment, the quotes are consolidating in the range of 1.15300-1.15650. We recommend opening positions from these marks. The trading instrument has the potential for further reduce.

Today, the publication of important economic reports from the US and the Eurozone is not planned. We recommend monitoring current information regarding the trade conflict between the US and China.

EUR/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, but above the signal line, which gives a weak signal to sell EUR/USD.

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

Trading recommendations
  • Support levels: 1.15300, 1.15000
  • Resistance levels: 1.15650, 1.16000, 1.16500

If the price fixes below the local support of 1.15300, the EUR/USD quotes are expected to fall further. The movement is tending to 1.15000-1.14750.

Alternative option. If the price fixes above 1.15650, it is necessary to consider purchases of EUR/USD. The movement is tending to 1.16000-1.16250.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29254
  • Open: 1.29205
  • % chg. over the last day: -0.06
  • Day's range: 1.28968 – 1.29317
  • 52 wk range: 1.2361 – 1.4345

On Friday, trading on the GBP/USD currency pair was very active. At the same time, a unidirectional trend was not observed. At the moment, GBP/USD quotes are consolidating. The technical pattern is ambiguous. Local support and resistance levels are 1.29000 and 1.29350, respectively. Investors expect important economic reports from the UK. We recommend opening positions from the key levels.

The news feed on the UK economy on 2018.09.10:
  • - GDP data at 11:30 (GMT+3:00);
  • - Manufacturing production at 11:30 (GMT+3:00).
GBP/USD

Indicators do not send accurate signals: 50 MA has crossed 200 MA.

The MACD histogram has moved into the negative zone, which signals the power of sellers.

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

Trading recommendations
  • Support levels: 1.29000, 1.28700, 1.28250
  • Resistance levels: 1.29350, 1.29700, 1.30000

If the price fixes below the round level of 1.29000, it is necessary to consider sales of GBP/USD. The movement is tending to 1.28700-1.28400.

Alternative option. If the price fixes above the local resistance of 1.29350, we recommend considering purchases of GBP/USD. The movement is tending to 1.29700-1.30000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31369
  • Open: 1.31566
  • % chg. over the last day: +0.12
  • Day's range: 1.31566 – 1.31978
  • 52 wk range: 1.2059 – 1.3795

The technical pattern on the USD/CAD currency pair is ambiguous. The trading instrument is moving in flat. A unidirectional trend is not observed. On Friday, September 7, Canada published a weak labor statistics. At the moment, the key support and resistance levels are 1.31600 and 1.32000, respectively. We recommend opening positions from these marks.

Today, the news feed on the economy of Canada is calm.

USD/CAD

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

The MACD histogram is in the positive zone and above the signal line, which indicates the bullish sentiment.

Stochastic Oscillator has started moving out the overbought zone, the %K line is below the %D line, which gives a signal to sell USD/CAD.

Trading recommendations
  • Support levels: 1.31600, 1.31150, 1.30700
  • Resistance levels: 1.32000, 1.32500

If the price fixes above the round level of 1.32000, further growth of the USD/CAD currency pair is expected. The movement is tending to 1.32250-1.32500.

Alternative option. If the price fixes below 1.31600, it is necessary to consider sales of USD/CAD. The target level for profit-taking is 1.31200-1.31000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.740
  • Open: 111.042
  • % chg. over the last day: +0.30
  • Day's range: 110.849 – 111.085
  • 52 wk range: 104.56 – 114.74

The USD/JPY currency pair is consolidating. The technical pattern is ambiguous. The trading instrument is testing local support and resistance levels: 110.900 and 111.100, respectively. The positions should be opened from these marks. We recommend paying attention to the US government bonds yield.

Positive data on GDP of Japan have been published during the Asian trading session.

USD/JPY

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 has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 110.900, 110.750, 110.500
  • Resistance levels: 111.100, 111.300, 111.500

If the price fixes below the support level of 110.900, the USD/JPY quotes are expected to fall. The movement is tending potential to 110.700-110.500.

Alternative option. If the price fixes above 111.100, it is necessary to consider purchases of USD/JPY. The movement is tending to 111.300-111.500.

by JustForex, 2018.09.10

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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