The Analytical Overview of the Main Currency Pairs on 2018.02.13

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22449
  • Open: 1.22889
  • % chg. over the last day: +0.40
  • Day's range: 1.23099 – 1.23174
  • 52 wk range: 1.0492 – 1.2537

During yesterday's and today's trading, the euro strengthened against the US dollar, as a result the EUR/USD quotes rose by almost 100 points. At the moment, the trading instrument is consolidating in the range of 1.22900-1.23300. Investors expect additional drivers. We recommend you to open positions from the key levels.

The news feed on the US economy and the Eurozone is calm.

EUR/USD

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

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

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

Trading recommendations
  • Support levels: 1.22900, 1.22500, 1.22100
  • Resistance levels: 1.23300, 1.23800, 1.24200

If the currency pair fixes below the already "mirror" support of 1.22900, we recommend considering sales. The movement is tending potentially to 1.22500-1.22100.

Alternative option. If the EUR/USD quotes fix above 1.23300, we recommend looking for entry points to the market to open long positions. The movement is tending potentially to the round level of 1.24000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.38050
  • Open: 1.38355
  • % chg. over the last day: +0.18
  • Day's range: 1.38387 – 1.38643
  • 52 wk range: 1.2106 – 1.4345

At the moment, the technical pattern is ambiguous on the GBP/USD currency pair. The trading instrument is being traded in flat. Investors took a cautious position before the publication of the report on inflation in the UK. It is expected that in January, the consumer price index will fall by 0.1% to 2.9% (year on year). The key trading range is 1.38500-1.39000. The positions must be opened from these marks.

The news feed on 2018.02.13:

  • - The consumer price index in the UK at 11:30 (GMT+2).
GBP/USD

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

The MACD histogram is near the 0 mark. There are no signals.

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: 1.38500, 1.38000, 1.37600
  • Resistance levels: 1.39000, 1.39700, 1.40400

If the price fixes below the "mirror" support of 1.38500, we recommend considering sales of GBP/USD. The movement is tending potentially to 1.38000-1.37600.

Alternative option. If the price fixes above the round level of 1.39000, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.39500-1.39700.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.25718
  • Open: 1.25728
  • % chg. over the last day: -0.06
  • Day's range: 1.25712 – 1.25899
  • 52 wk range: 1.2059 – 1.3795

At the moment, the technical pattern on the USD/CAD currency pair is ambiguous. The trading instrument is in a sideways trend. The key support and resistance levels are 1.25600 and 1.26000, respectively. Investors expect additional drivers. We recommend paying attention to the dynamics of oil quotes. Positions must be opened from the key levels.

The news feed on the economy of the US and Canada is calm.

USD/CAD

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

The MACD histogram is near the 0 mark. There are no signals.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which gives a strong signal to buy USD/CAD.

Trading recommendations
  • Support levels: 1.25600, 1.25000, 1.24600
  • Resistance levels: 1.26000, 1.26400, 1.26800

If the USD/CAD quotes fix below the local support of 1.25600, we recommend looking for entry points to the market to open short positions. The movement is tending potentially to the round level of 1.25000.

Alternative option. If the price fixes above the round level of 1.26000, the quotes are expected to rise to 1.26400-1.26800.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.858
  • Open: 108.638
  • % chg. over the last day: -0.08
  • Day's range: 107.533 – 107.808
  • 52 wk range: 107.33 – 115.51

At the moment, there is a downward trend on the USD/JPY currency pair. As a rule, the demand for yen rises with instability in the markets. Yesterday, it became known that Haruhiko Kuroda would be reassigned to the post of the head of the Bank of Japan and, most likely, would adhere to a soft monetary policy. The key support and resistance levels are 107.600 and 108.000, respectively. Positions must be opened from these marks. We recommend you to pay attention to the 10-year US government bonds yield.

The news feed on Japan's economy is calm.

USD/JPY

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

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

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

Trading recommendations
  • Support levels: 107.600, 107.000
  • Resistance levels: 108.000, 108.400, 109.000

If the price continues to fall and fixes below the support level of 107.600, it is necessary to consider sales of USD/JPY. The movement is tending potentially to the round level of 107.000.

Alternative option. If the price fixes above the round level of 108.000, the correction of the USD/JPY quotes is expected. The target movement level is 108.400-108.700.

by JustForex, 2018.02.13

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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