The Analytical Overview of the Main Currency Pairs on 2018.05.29


The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16829
  • Open: 1.16237
  • % chg. over the last day:0.53
  • Day’s range: 1.158751.15986
  • 52 wk range: 1.05711.2557

The EUR/USD currency pair continues to decline. During yesterday’s and today’s trading sessions, quotes fell by more than 100 points. Euro is under pressure due to political uncertainty in Italy. At the moment, the key support and resistance levels are 1.15700 and 1.16300, respectively. We recommend opening positions from these marks. The trading instrument has the potential for further reduce.

The news feed on 2018.05.29:
  • CB consumer confidence index in the US at 17:00 (GMT+3:00).
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, below the signal line, which gives a strong signal to sell EUR/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which also indicates a decrease in the EUR/USD quotes.

Trading recommendations
  • Support levels: 1.15700, 1.15200
  • Resistance levels: 1.16300, 1.16800, 1.17300

If the price fixes below the support level of 1.15700, further decrease in the EUR/USD currency pair is expected. The target movement level is 1.152001.15000.

An alternative may be the EUR/USD quotes correction to the round level of 1.162501.16500.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33144
  • Open: 1.33061
  • % chg. over the last day: +0.03
  • Day’s range: 1.330351.33102
  • 52 wk range: 1.23611.4345

The bearish sentiment has been prevailing on the GBP/USD currency pair for quite a long time. Yesterday, the UK financial markets were closed due to the holiday, because of which the market movements were restrained. Nevertheless, demand for the American currency is still high. The trading instrument has the potential for further reduce. At the moment, the key support and resistance levels are 1.32700 and 1.33200, respectively. We recommend opening positions from these marks.

The news feed on the UK economy is calm.

GBP/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 and continues to decline, which signals to sell GBP/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which also indicates a decrease in the GBP/USD quotes.

Trading recommendations
  • Support levels: 1.32700, 1.32000
  • Resistance levels: 1.33200, 1.33700, 1.34200

If the price fixes below the support level of 1.32700, further decrease of the GBP/USD quotes is expected. The movement is tending potentially to 1.333001.32000.

Alternative option. If the price fixes above the resistance level of 1.33200, it is necessary to consider purchases of GBP/USD. The target movement level is 1.335001.33700.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29603
  • Open: 1.29910
  • % chg. over the last day: +0.12
  • Day’s range: 1.297791.29906
  • 52 wk range: 1.20591.3795

The technical pattern on the USD/CAD currency pair is ambiguous. The trading instrument is moving in flat. Investors expect additional drivers. We recommend paying attention to the dynamics of oil quotes. At the moment, the key trading range is 1.297001.30100. The positions should be opened from these marks. The USD/CAD quotes have the potential for further growth.

The news feed on the economy of Canada is calm.

USD/CAD

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

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

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: 1.29700, 1.29000, 1.28500
  • Resistance levels: 1.30100, 1.30500

If the price fixes above the resistance level of 1.30100, the USD/CAD quotes are expected to rise. The movement is tending potentially to 1.304001.30600.

Alternative option. If the price fixes below the support level of 1.29700, the USD/CAD currency pair is expected to decline. The movement is tending potentially to 1.293001.29000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 109.726
  • Open: 109.401
  • % chg. over the last day:0.19
  • Day’s range: 108.793108.955
  • 52 wk range: 104.56114.74

During today’s trading session, the USD/JPY quotes are declining against the fall in the 10year US government bonds yield. The indicator reached 2.87%. A further decline in the USD/JPY quotes is not excluded. At the moment, the key support and resistance levels are 108.750 and 109.200, respectively. The positions should be opened from these marks.

The news feed on the economy of Japan is calm.

USD/JPY

Indicators point to the power of sellers: the price has fixed below 50 MA and 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 located in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 108.750, 108.400
  • Resistance levels: 109.200, 109.650, 110.100

If the price fixes below the support level of 108.750, we recommend looking for entry points to the market to open short positions. The movement is tending potentially to 108.400108.200.

Alternative option. If the price fixes above the level of 109.200, it is necessary to consider purchases of USD/JPY. The movement is tending potentially to 109.500109.800.

by JustMarkets, 2018.05.29

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.