The Analytical Overview of the Main Currency Pairs on 2018.09.21

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16720
  • Open: 1.17764
  • % chg. over the last day: +0.88
  • Day's range: 1.17726 – 1.18027
  • 52 wk range: 1.0571 – 1.2557

Yesterday, the US dollar weakened against the basket of major currencies. The escalation of the trade conflict between the US and China slowed, which led to an increase in demand for risky assets. The EUR/USD quotations increased by more than 100 points. At the moment, the trading instrument is consolidating in the range of 1.17700-1.18000. The EUR/USD currency pair is tending to growth. Positions must be opened from the key levels.

The news feed on 2018.09.21:
  • - A number of indices on economic activity in Germany and the Eurozone at 10:30 (GMT+3:00) and 11:00 (GMT+3:00).
EUR/USD

Indicators point to the power of buyers: the price has fixed above 50 MA and 200 MA.

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

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: 1.17700, 1.17400, 1.17100
  • Resistance levels: 1.18000, 1.18500

If the price fixes above the round level of 1.18000, further growth of the EUR/USD quotes is expected. The movement is tending to 1.18400-1.18600.

An alternative may be the reduction of the EUR/USD currency pair to 1.17400-1.17100.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31061
  • Open: 1.32500
  • % chg. over the last day: +0.96
  • Day's range: 1.32121 – 1.32764
  • 52 wk range: 1.2361 – 1.4345

Yesterday aggressive purchases of GBP/USD were observed. The growth of quotations exceeded 140 points. Additional support for the pound was provided by the positive statistics on retail sales in the UK. At the moment, the GBP/USD quotations went down. The key trading range is 1.32100-1.32750. The positions must be opened from these marks.

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

GBP/USD

The price has fixed above 50 MA and 200 MA, which signals 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 GBP/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: 1.32100, 1.31700, 1.31250
  • Resistance levels: 1.32750, 1.33000

If the price falls below the local support of 1.32100, further correction of the GBP/USD currency pair is expected. The movement is tending to 1.31700-1.31500.

An alternative may be the GBP/USD growth to the offer zone of 1.32750-1.33000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29160
  • Open: 1.29042
  • % chg. over the last day: -0.04
  • Day's range: 1.28969 – 1.29140
  • 52 wk range: 1.2059 – 1.3795

The USD/CAD quotes are consolidating after a significant decline in the past two weeks. A unidirectional trend is not observed. Local support and resistance levels are: 1.28900 and 1.29300, respectively. The trading instrument is tending to reduce. Investors expect important statistical data from Canada.

At 15:30 (GMT+3:00) reports on inflation and retail sales in Canada will be published.

USD/CAD

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 USD/CAD.

Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.28900, 1.28500
  • Resistance levels: 1.29300, 1.29800, 1.30150

If the price fixes below the local support of 1.28900, the USD/CAD quotes are expected to fall further. The movement is tending to 1.28500-1.28300.

Alternative option. If the price fixes above the level of 1.29300, you need to look for entry points to the market to open long positions. The target level of movement is tending to 1.29700-1.29900.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.254
  • Open: 112.440
  • % chg. over the last day: +0.19
  • Day's range: 112.429 – 112.874
  • 52 wk range: 104.56 – 114.74

The bullish sentiment is prevailing on the USD/JPY currency pair. At the moment, the quotes are consolidating. The local support and resistance levels are 112.550 and 112.850. The trading instrument is tending to growth. We recommend paying attention to the yield of US government bonds. Positions must be opened from key levels.

The news feed on the economy of Japan is calm today.

USD/JPY

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

The MACD histogram is located in the positive zone and above the signal line, which gives a strong signal to buy USD/JPY.

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

Trading recommendations
  • Support levels: 112.550, 112.400, 112.100
  • Resistance levels: 112.850, 113.000

If the price fixes above the resistance level of 112.850, further growth of the USD/JPY quotes is expected. The movement ie tending to 113.000-113.300.

Alternative option. If the price fixes below 112.550, we recommend you to look for entry points to the market to open short positions. The target movement level is 112.300-112.100.

by JustForex, 2018.09.21

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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