The Analytical Overview of the Main Currency Pairs on 2018.01.09

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.20245
  • Open: 1.19671
  • % chg. over the last day: -0.18
  • Day's range: 1.19452 – 1.1928
  • 52 wk range: 1.0341 – 1.2069

The EUR/USD quotes have begun to decline after a sharp increase last week. At the moment, bearish sentiments are observed on the EUR/USD currency pair. Local support and resistance levels are 1.19400 and 1.19750. We recommend opening positions from the key levels.

The news feed on 2018.01.09:

  • - Number of open jobs in the JOLTS labor market at 17:00 (GMT+2:00).

Also, we recommend you to pay attention to the speech of the FOMC member Kashkari.

EUR/USD

The signals of the indicators are ambiguous. The price has fixed below 50 MA and 200 MA, which indicates a bearish sentiment.

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

Stochastic Oscillator is in the oversold zone, the %K line is below the %D line. There are no accurate signals at the moment.

Trading recommendations
  • Support levels: 1.19400
  • Resistance levels: 1.19750, 1.20250, 1.20750

If the EUR/USD quotes continue to fall and fix below the support level of 1.19400, we recommend looking for entry points to the market to open short positions. The target movement level is 1.19000-1.18800.

An alternative may be the growth of the EUR/USD quotes to the level of 1.20100-1.20300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.35594
  • Open: 1.35656
  • % chg. over the last day: -0.34
  • Day's range: 1.35209 – 1.35479
  • 52 wk range: 1.1450 – 1.3618

At the moment, there is a mixed technical pattern on the GBP/USD currency pair. Quotes are in a sideways trend. Investors expect additional drivers. The key trading range is 1.35250-1.35750. Positions must be opened above/below these marks.

The news feed on the UK economy is calm today.

GBP/USD

The signals of the indicators are ambiguous. The price crossed 50 MA.

The MACD histogram is in the negative zone and below the signal line, which signals the sales of GBP/USD.

Stochastic Oscillator is in the oversold zone, the %K line is below the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 1.35250
  • Resistance levels: 1.35750

If the GBP/USD currency pair fixes below the support level of 1.35250, we recommend considering sales. The movement is tending potentially to 1.34850-1.34650.

Alternative option. If the quotes begin to rise and fix above the resistance level of 1.35750, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.36100-1.36300.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.24804
  • Open: 1.24203
  • % chg. over the last day: +0.12
  • Day's range: 1.24170 – 1.24391
  • 52 wk range: 1.2059 – 1.3795

On Friday, positive reports on the labor market of Canada were published, as a result the Canadian dollar strengthened against the US dollar, while the USD/CAD quotes fell. At the moment, the technical pattern on the USD/CAD currency pair is ambiguous. The USD/CAD quotes are being traded in flat. Local support and resistance levels are 1.23750 and 1.25050, respectively. It is necessary to open positions from the key levels.

The news feed on 2018.01.09:

  • - The volume of housing starts in Canada at 15:15 (GMT+2:00).
USD/CAD

Indicators do not send accurate signals. The price crossed 50 MA.

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 overbought zone, the %K line is above the %D line. There are no accurate signals at the moment.

Trading recommendations
  • Support levels: 1.23750
  • Resistance levels: 1.25050

If the price fixes below the local support of 1.23750, the further drop in the USD/CAD quotes is expected. The movement is tending potentially to 1.23450-1.23250.

An alternative may be the quotes growth to 1.24750-1.24950.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 113.132
  • Open: 113.103
  • % chg. over the last day: -0.16
  • Day's range: 112. 734 – 112.959
  • 52 wk range: 99.53 – 118.67

Today, during the Asian trading session, the USD/JPY quotes fell. At the moment, USD/JPY is consolidating. The following key support and resistance levels can be identified: 112.600 and 113.100, respectively. It is recommended to open positions if the price fixes above/below these marks.

The publication of important economic reports from Japan is not planned.

USD/JPY

The signals of the indicators are ambiguous. The price crossed 200 MA.

The MACD histogram is in the negative zone, below the signal line, which gives a strong signal to sell USD/JPY.

Stochastic Oscillator is in the overbought zone, the %K line is above the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 112.600, 112.250
  • Resistance levels: 113.100

If the price fixes above the resistance level of 113.100, we recommend considering purchases of USD/JPY. The movement is tending potentially to 113.500-113.700.

Alternative option. If the price fixes below the support level of 112.600, it is necessary to look for entry points to the market to open short positions. The target movement level is 112.200-112.000.

by JustForex, 2018.01.09

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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