The Analytical Overview of the Main Currency Pairs on 2018.07.10


The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.17537
  • Open: 1.17501
  • % chg. over the last day: +0.03
  • Day’s range: 1.176211.17792
  • 52 wk range: 1.05711.2557

During yesterday’s trading session, the EUR/USD currency pair kept its local highs. At the moment, the technical pattern is ambiguous: the EUR/USD quotes are moving in flat. Investors expect additional drivers. The key support and resistance levels are 1.17300 and 1.17700, respectively. We recommend opening positions from these marks.

The news feed on 2018.07.10:
  • ZEW economic sentiment index in Germany at 12:00 (GMT+3:00);
  • JOLTS job openings in the US at 17:00 (GMT+3:00).
EUR/USD

Indicators do not send accurate signals: the price crossed 50 MA.

The MACD histogram is near the 0 mark.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which signals to buy EUR/USD.

Trading recommendations
  • Support levels: 1.17300, 1.16900, 1.16500
  • Resistance levels: 1.17700, 1.18000

If the price fixes below 1.17300, we recommend considering sales of EUR/USD. The movement is tending to 1.169001.16700.

Alternative option. If the price fixes above the resistance level of 1.17700, the EUR/USD quotes are expected to rise. The target movement level is 1.180001.18300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.33181
  • Open: 1.32569
  • % chg. over the last day:0.31
  • Day’s range: 1.324821.32597
  • 52 wk range: 1.23611.4345

During yesterday’s trading session, there were aggressive sales on the GBP/USD currency pair. The British pound significantly weakened after two members of the UK Cabinet, Brexit Secretary David Davis and Foreign Secretary Boris Johnson, resigned. The decrease in quotes exceeded 120 points. At the moment, the technical pattern is ambiguous. The trading instrument is moving in the range of 1.323001.32800. We recommend opening positions from the key support and resistance levels.

The news feed on 2018.07.10:
  • Manufacturing production in the UK at 11:30 (GMT+3:00).
GBP/USD

Indicators do not send accurate signals: the price has fixed between 50 MA and 200 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates the GBP/USD quotes growth.

Trading recommendations
  • Support levels: 1.32300, 1.31850, 1.31400
  • Resistance levels: 1.32800, 1.33300, 1.33700

If the price fixes below the level of 1.32300, further decrease of the GBP/USD quotes is expected. The movement is tending to 1.318501.31600.

Alternative option. If the price fixes above the resistance of 1.32800, it is necessary to consider purchases of GBP/USD. The movement is tending to 1.333001.33700.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30844
  • Open: 1.31111
  • % chg. over the last day: +0.11
  • Day’s range: 1.310931.31306
  • 52 wk range: 1.2059 1.3795

The bullish sentiment prevails on the USD/CAD currency pair. Yesterday, quotes rose by 60 points. At the moment, the local support and resistance levels are 1.31000 and 1.31400, respectively. We recommend opening positions from these marks. The trading instrument has the potential for further growth. Tomorrow, the Bank of Canada will announce its decision on the key interest rate.

Today, the publication of important news from Canada is not expected.

USD/CAD

Indicators do not send accurate signals: the price is being traded between 50 MA and 200 MA.

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

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

Trading recommendations
  • Support levels: 1.31000, 1.30700
  • Resistance levels: 1.31400, 1.31800, 1.32200

If the price fixes below the “mirror” support of 1.31000, we recommend considering sales of USD/CAD. The movement is tending to 1.307001.30500.

Alternative option. If the price fixes above 1.31400, further growth of the USD/CAD quotes is expected. The target movement level is 1.318001.32000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.387
  • Open: 110.819
  • % chg. over the last day: +0.46
  • Day’s range: 110.759110.803
  • 52 wk range: 104.56114.74

Yesterday, aggressive purchases were observed on the USD/JPY currency pair. The growth of quotes exceeded 70 points. At the moment, the trading instrument is consolidating in the range of 111.000111.200. The positions should be opened from these marks. We recommend paying attention to the 10year US government bonds yield. In the near future, technical correction is not ruled out.

The news feed on the economy of Japan is calm.

USD/JPY

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 and above the signal line, which gives a strong signal to buy USD/JPY.

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

Trading recommendations
  • Support levels: 111.000, 110.750, 110.500
  • Resistance levels: 111.200, 111.500

If the price fixes below the round level of 111.000, we recommend looking for entry point to the market to open short positions. The movement is tending to 110.750110.500.

Alternative option. If the price fixes above the level of 111.200, the USD/JPY currency pair is expected to grow. The target movement level is 111.500111.700.

by JustMarkets, 2018.07.10

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.