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EUR/USD
The pair rose and stabilized above 127.2% Fibonacci shown on the graph, and Linear Regression Indicators are trading positively. Therefore, trading above 1.3310 levels will be considered positive and a reason to extend the upside move over intraday basis. Stochastic offers overbought signals which might cause heavy volatility and possible downside corrections.
The trading range for this week is among the key support at 1.3105 and key resistance at 1.3685.
The general trend over short term basis is negative targeting 1.1865 as far as areas of 1.3550 remains intact.
Support 1.3335 1.3310 1.3280 1.3235 1.3190
Resistance 1.3405 1.3485 1.3500 1.3580 1.3620
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.3335 targeting 1.3385, 1.3485 then 1.3500 and stop-loss with four-hour closing below 1.3235 might be appropriate this week
GBP/USD
The pair is trading within diagonal support and resistance levels, the key support for this formation resides at 1.6020 levels and trading above might extend the upside move this week. Stochastic offers overbought signals and attempts to crossover negatively which might cause great volatility and perhaps bearish corrections. Trading above 1.6020 levels keeps the upside move likely.
The trading range for this week is among key support at 1.5830 and key resistance at 1.6310.
The general trend over short term basis is to the downside targeting 1.6875 as far as areas of 1.4225 remains intact.
Support 1.6125 1.6100 1.6065 1.6020 1.5975
Resistance 1.6145 1.6185 1.6215 1.6260 1.6310
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.6120 targeting 1.6185, 1.6260 then 1.6300 and stop-loss with four-hour closing below 1.6020 might be appropriate this week
USD/JPY
Despite overbought signals on momentum indicators, trading above 88.20 levels will be considered positive targeting areas of 91.70 levels passing by the psychological areas of 90.00. Linear Regression Indicators are positive and last week’s candle is also considered bullish after reaching 86.80 areas as shown on the graph, supporting the possible extension of the positive bias.
The trading range for this week is among key support at 88.20 and key resistance at 91.70.
The general trend over short term basis is to the upside targeting 91.70 as far as areas of 83.40 remain intact.
Support 89.30 88.80 88.50 88.20 87.85
Resistance 89.80 90.10 90.85 91.20 91.70
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 89.30 targeting 90.10, 91.20 then 91.70 and stop-loss with four-hour closing below 88.20 might be appropriate this week
USD/CHF
The pair dropped last week but couldn’t prove the end of the AB=CD bullish Harmonic Pattern`s effect, as the pair is still stable above 0.9080 levels. Despite that, we find that stabilizing below 23.6% correction at 0.9155 levels is considered negative and weakens the pattern’s affect. Therefore, we prefer to remain neutral for now waiting for confirmations.
The trading range for this week is among key support at 0.8945 and key resistance at 0.9350.
The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860.
Support 0.9100 0.9080 0.9060 0.9020 0.8945
Resistance 0.9135 0.9155 0.9200 0.9270 0.9320
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
USD /CAD
The pair is trading in a critical situation with the start of the week trading and couldn’t confirm breaking 0.9820 and 0.9800 support, and is consolidating below 0.9840 and 0.9855 resistance levels. This makes us prefer to remain neutral for now , whereas trading within those levels is very critical alongside trading around Linear Regression Indicators that aren`t offering any confirmation either.
The trading range for this week is between the key support at 0.9700 and the key resistance at 1.0040.
The general trend over short term basis is to the downside below levels 1.0125 targeting 0.9400.
Support 0.9820 0.9800 0.9780 0.9735 0.9700
Resistance 0.9840 0.9875 0.9895 0.9910 0.9965
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
AUD/USD
The bearish move last Friday was limited above 1.0495–80 levels which keeps the upside bias valid, and possible complete a harmonic formation. The formation is expected to be complete around 1.0650 levels as long as 1.0480 levels hold. Stochastic offers negative signals indicating great volatility, but Linear Regression Indicators are positive supporting the extension of the upside move.
The trading range for this week is among key support at 1.0340 and key resistance at 1.0735.
The general trend over short term basis is to the downside below levels 1.0710 targeting 0.9400.
Support 1.0530 1.0505 1.0480 1.0430 1.0410
Resistance 1.0585 1.0600 1.0615 1.0655 1.0685
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.0530 targeting 1.0585, 1.0615 then 1.0650 and stop-loss with four-hour closing below 1.0480 might be appropriate this week
NZD/USD
The pair stabilized above Linear Regression Indicators in addition to trading within the ascending channel offsetting the negativity on Stochastic. Trading above 0.8355 levels will force us to hold on to our positive expectations but without excluding heavy volatility and maybe bearish corrections from time to time due to the negative signal on Stochastic as mentioned.
The trading range for this week might be among key support at 0.8280 and key resistance at 0.8675.
The general trend over short term basis is to the upside with steady daily closing above 0.8130 targeting 0.8845.
Support 0.8400 0.8385 0.8355 0.8310 0.8280
Resistance 0.8470 0.8500 0.8515 0.8565 0.8610
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.8400 targeting 0.8470, 0.8515 then 0.8610 and stop-loss with four-hour closing below 0.8310 might be appropriate this week
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The pair rose and stabilized above 127.2% Fibonacci shown on the graph, and Linear Regression Indicators are trading positively. Therefore, trading above 1.3310 levels will be considered positive and a reason to extend the upside move over intraday basis. Stochastic offers overbought signals which might cause heavy volatility and possible downside corrections.
The trading range for this week is among the key support at 1.3105 and key resistance at 1.3685.
The general trend over short term basis is negative targeting 1.1865 as far as areas of 1.3550 remains intact.
Support 1.3335 1.3310 1.3280 1.3235 1.3190
Resistance 1.3405 1.3485 1.3500 1.3580 1.3620
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.3335 targeting 1.3385, 1.3485 then 1.3500 and stop-loss with four-hour closing below 1.3235 might be appropriate this week
GBP/USD
The pair is trading within diagonal support and resistance levels, the key support for this formation resides at 1.6020 levels and trading above might extend the upside move this week. Stochastic offers overbought signals and attempts to crossover negatively which might cause great volatility and perhaps bearish corrections. Trading above 1.6020 levels keeps the upside move likely.
The trading range for this week is among key support at 1.5830 and key resistance at 1.6310.
The general trend over short term basis is to the downside targeting 1.6875 as far as areas of 1.4225 remains intact.
Support 1.6125 1.6100 1.6065 1.6020 1.5975
Resistance 1.6145 1.6185 1.6215 1.6260 1.6310
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.6120 targeting 1.6185, 1.6260 then 1.6300 and stop-loss with four-hour closing below 1.6020 might be appropriate this week
USD/JPY
Despite overbought signals on momentum indicators, trading above 88.20 levels will be considered positive targeting areas of 91.70 levels passing by the psychological areas of 90.00. Linear Regression Indicators are positive and last week’s candle is also considered bullish after reaching 86.80 areas as shown on the graph, supporting the possible extension of the positive bias.
The trading range for this week is among key support at 88.20 and key resistance at 91.70.
The general trend over short term basis is to the upside targeting 91.70 as far as areas of 83.40 remain intact.
Support 89.30 88.80 88.50 88.20 87.85
Resistance 89.80 90.10 90.85 91.20 91.70
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 89.30 targeting 90.10, 91.20 then 91.70 and stop-loss with four-hour closing below 88.20 might be appropriate this week
USD/CHF
The pair dropped last week but couldn’t prove the end of the AB=CD bullish Harmonic Pattern`s effect, as the pair is still stable above 0.9080 levels. Despite that, we find that stabilizing below 23.6% correction at 0.9155 levels is considered negative and weakens the pattern’s affect. Therefore, we prefer to remain neutral for now waiting for confirmations.
The trading range for this week is among key support at 0.8945 and key resistance at 0.9350.
The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860.
Support 0.9100 0.9080 0.9060 0.9020 0.8945
Resistance 0.9135 0.9155 0.9200 0.9270 0.9320
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
USD /CAD
The pair is trading in a critical situation with the start of the week trading and couldn’t confirm breaking 0.9820 and 0.9800 support, and is consolidating below 0.9840 and 0.9855 resistance levels. This makes us prefer to remain neutral for now , whereas trading within those levels is very critical alongside trading around Linear Regression Indicators that aren`t offering any confirmation either.
The trading range for this week is between the key support at 0.9700 and the key resistance at 1.0040.
The general trend over short term basis is to the downside below levels 1.0125 targeting 0.9400.
Support 0.9820 0.9800 0.9780 0.9735 0.9700
Resistance 0.9840 0.9875 0.9895 0.9910 0.9965
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
AUD/USD
The bearish move last Friday was limited above 1.0495–80 levels which keeps the upside bias valid, and possible complete a harmonic formation. The formation is expected to be complete around 1.0650 levels as long as 1.0480 levels hold. Stochastic offers negative signals indicating great volatility, but Linear Regression Indicators are positive supporting the extension of the upside move.
The trading range for this week is among key support at 1.0340 and key resistance at 1.0735.
The general trend over short term basis is to the downside below levels 1.0710 targeting 0.9400.
Support 1.0530 1.0505 1.0480 1.0430 1.0410
Resistance 1.0585 1.0600 1.0615 1.0655 1.0685
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.0530 targeting 1.0585, 1.0615 then 1.0650 and stop-loss with four-hour closing below 1.0480 might be appropriate this week
NZD/USD
The pair stabilized above Linear Regression Indicators in addition to trading within the ascending channel offsetting the negativity on Stochastic. Trading above 0.8355 levels will force us to hold on to our positive expectations but without excluding heavy volatility and maybe bearish corrections from time to time due to the negative signal on Stochastic as mentioned.
The trading range for this week might be among key support at 0.8280 and key resistance at 0.8675.
The general trend over short term basis is to the upside with steady daily closing above 0.8130 targeting 0.8845.
Support 0.8400 0.8385 0.8355 0.8310 0.8280
Resistance 0.8470 0.8500 0.8515 0.8565 0.8610
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.8400 targeting 0.8470, 0.8515 then 0.8610 and stop-loss with four-hour closing below 0.8310 might be appropriate this week
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