EUR/USD
The pair couldn't hit SMA 100 and started to show a slight bearish tendency as seen on the provided daily graph. Meanwhile, trading continued above the pivotal support of 1.3230 and also above SMA 50. The bearish picture will not come back into focus unless we witness a daily closing below the aforesaid level. The contrarian between the above mentioned factors forces us to stay aside over intraday basis until an actionable setup presents itself to pinpoint the upcoming big move.
The trading range for today is among key support at 1.3045 and key resistance at 1.3455.
The general trend over short term basis is to the downside, targeting 1.1865 as far as areas of1.3550 areas remain intact.
Support 1.3230 1.3190 1.3140 1.3110 1.3070
Resistance 1.3295 1.3315 1.3375 1.3390 1.3415
Recommendation Based on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.
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GBP/USD
The pair continued its decline where it stabilized with consecutive four-hour closings below 61.8% Fibonacci retracement of the IM wave from 1.6165 to 1.5230 suggest a start of the huge third wave of our caught Elliott count as seen on our provided chart. In fact, breaching through the important support of 1.5730 will add further negative pressure and may confirm the bearish "harmonic overview". Accordingly, we will watch out the price behaviors until it clears the aforementioned level.
The trading range for today is among key support at 1.5515 and key resistance at 1.6075.
The general trend over short term basis is to the downside, targeting 1.4225 as far as areas of1.6875 areas remain intact.
Support 1.5730 1.5680 1.5630 1.5585 1.5555
Resistance 1.5820 1.5880 1.5935 1.6000 1.6025
Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.5730 targeting 1.5515 and stop loss above 1.5900 might be appropriate.
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USD/JPY
The pair continued moving aggressively upwards forming a long white candlestick pattern as seen on the provided daily chart. Furthermore, yesterday's closing was achieved comfortably above 77.55 zones-50% Fibonacci of the entire upside wave from 75.50 zones to 79.50 zones- while momentum indicators continues giving off bullish signs. Vortex also becomes very positive designating that the bullish recovery is strong enough; particularly after breaching SMA 50-red- thus, the bullishness may continue over intraday basis. Of note, a break above 78.00 zones will weaken the initial resistance areas between 78.30 and 78.60.
The trading range for today is among key support at 76.10 and key resistance now at 78.90.
The general trend over short term basis is to the upside, targeting 87.45 as far as areas of 75.20remain intact.
Support 77.30 76.95 76.70 76.40 76.10
Resistance 77.90 78.30 78.45 78.90 79.15
Recommendation Based on the charts and explanations above our opinion is, buying the pair around 77.30 targeting 79.00 and stop loss below 76.10 might be appropriate.
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USD/CHF
Despite forming a "Doji" candlestick pattern yesterday- candle of indecision- but the closing was achieved above the key support level of 0.9105 as seen on the provided daily chart. Stochastic on its way to overlap positively; whilst RVI 14 remains positive; thus, the pair may move higher over intraday basis. But, penetrating 0.9175 zones is required in order to assist bulls to support their positions towards 0.9310 zones followed by 0.9400 areas. Conversely, areas of 0.9030 should hold to protect the scenario.
The trading range for today is among key support at 0.8965 and key resistance at 0.9310.
The general trend over short term basis is to the upside, targeting 0.9950 as far as areas of 0.8850areas remain intact.
Support 0.9105 0.9080 0.9030 0.9000 0.8985
Resistance 0.9175 0.9210 0.9260 0.9285 0.9310
Recommendation Based on the charts and explanations above our opinion is, buying the pair above 0.9175 targeting 0.9400 and stop loss below 0.9030 might be appropriate.
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USD/CAD
Price touched the main support at 0.9930 before rebounding once more, currently testing the 50 exponential moving average and approaching the top of this short term –shaded- range bound at 0.9990. This sideways trading pushed the pair out of the short term descending channel, accordingly; we will wait for a breach of this range, and above 0.9990 to expect further bullishness.
The trading range for today is expected among the major support at 0.9890 and the major resistance at 1.0075.
The short term trend is to the upside targeting 1.0650 with steady daily closing above 0.9900.
Support 0.9930 0.9890 0.9860 0.9830 0.9800
Resistance 0.9990 1.0015 1.0050 1.0075 1.0100
Recommendation Based on the charts and explanations above, we recommend buying the pair with hourly closing above 0.9990 targeting 1.0050 and 1.0075 stop loss with hourly closing below 0.9950 OR selling the pair with hourly closing below 0.9928 targeting 0.9890 and 0.9850, with stop loss with hourly closing above 0.9960.
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AUD/USD
The pair latest bullish attempt was halted at 1.0823, where price reversed to breach the short term ascending trend-line(dashed line) currently attempting to test the critical horizontal support among 1.0670-1.0690. Below this support resides the main ascending support of the inclining channel that carried price since December. Momentum indicators are unloading the negativity that was seen lately; as a result, we look for an upside rebound from the aforementioned potential support areas.
The trading range for today is expected among the major support at 1.0670 and the major resistance at 1.0900.
The short-term trend is to the upside targeting 1.1079 so long as 1.0130 remains intact.
Support 1.0670 1.0625 1.0570 1.0530 1.0500
Resistance 1.0735 1.0780 1.0820 1.0850 1.0900
Recommendation Based on the charts and explanations above, we recommend buying the pair around 1.0670 targeting 1.0735 and 1.0840 with stop loss below 1.0600.
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NZD/USD
The pair is correcting some of the latest gains, after topping at 0.8400 price reversed where it’s currently retesting the important support at 0.8280, a breach below this support could lead to the short term ascending trend-line around 0.8240, while RSI is heading towards oversold areas, accordingly, we expect a rebound today for another bullish attempt towards the latest highs.
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The trading range for today is expected among the major support at 0.8280 and the major resistance at 0.8450.
The short-term trend is to the upside, targeting 0.8840 as long 0.7600 remain intact.
Support 0.8285 0.8240 0.8210 0.8175 0.8150
Resistance 0.8320 0.8350 0.8380 0.8400 0.8425
Recommendation Based on the charts and explanations above, we recommend buying the pair around 0.8285 targeting 0.8350 and 0.8400, stop loss below 0.8225.
The pair couldn't hit SMA 100 and started to show a slight bearish tendency as seen on the provided daily graph. Meanwhile, trading continued above the pivotal support of 1.3230 and also above SMA 50. The bearish picture will not come back into focus unless we witness a daily closing below the aforesaid level. The contrarian between the above mentioned factors forces us to stay aside over intraday basis until an actionable setup presents itself to pinpoint the upcoming big move.
The trading range for today is among key support at 1.3045 and key resistance at 1.3455.
The general trend over short term basis is to the downside, targeting 1.1865 as far as areas of1.3550 areas remain intact.
Support 1.3230 1.3190 1.3140 1.3110 1.3070
Resistance 1.3295 1.3315 1.3375 1.3390 1.3415
Recommendation Based on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.
________________________________________
GBP/USD
The pair continued its decline where it stabilized with consecutive four-hour closings below 61.8% Fibonacci retracement of the IM wave from 1.6165 to 1.5230 suggest a start of the huge third wave of our caught Elliott count as seen on our provided chart. In fact, breaching through the important support of 1.5730 will add further negative pressure and may confirm the bearish "harmonic overview". Accordingly, we will watch out the price behaviors until it clears the aforementioned level.
The trading range for today is among key support at 1.5515 and key resistance at 1.6075.
The general trend over short term basis is to the downside, targeting 1.4225 as far as areas of1.6875 areas remain intact.
Support 1.5730 1.5680 1.5630 1.5585 1.5555
Resistance 1.5820 1.5880 1.5935 1.6000 1.6025
Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.5730 targeting 1.5515 and stop loss above 1.5900 might be appropriate.
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USD/JPY
The pair continued moving aggressively upwards forming a long white candlestick pattern as seen on the provided daily chart. Furthermore, yesterday's closing was achieved comfortably above 77.55 zones-50% Fibonacci of the entire upside wave from 75.50 zones to 79.50 zones- while momentum indicators continues giving off bullish signs. Vortex also becomes very positive designating that the bullish recovery is strong enough; particularly after breaching SMA 50-red- thus, the bullishness may continue over intraday basis. Of note, a break above 78.00 zones will weaken the initial resistance areas between 78.30 and 78.60.
The trading range for today is among key support at 76.10 and key resistance now at 78.90.
The general trend over short term basis is to the upside, targeting 87.45 as far as areas of 75.20remain intact.
Support 77.30 76.95 76.70 76.40 76.10
Resistance 77.90 78.30 78.45 78.90 79.15
Recommendation Based on the charts and explanations above our opinion is, buying the pair around 77.30 targeting 79.00 and stop loss below 76.10 might be appropriate.
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USD/CHF
Despite forming a "Doji" candlestick pattern yesterday- candle of indecision- but the closing was achieved above the key support level of 0.9105 as seen on the provided daily chart. Stochastic on its way to overlap positively; whilst RVI 14 remains positive; thus, the pair may move higher over intraday basis. But, penetrating 0.9175 zones is required in order to assist bulls to support their positions towards 0.9310 zones followed by 0.9400 areas. Conversely, areas of 0.9030 should hold to protect the scenario.
The trading range for today is among key support at 0.8965 and key resistance at 0.9310.
The general trend over short term basis is to the upside, targeting 0.9950 as far as areas of 0.8850areas remain intact.
Support 0.9105 0.9080 0.9030 0.9000 0.8985
Resistance 0.9175 0.9210 0.9260 0.9285 0.9310
Recommendation Based on the charts and explanations above our opinion is, buying the pair above 0.9175 targeting 0.9400 and stop loss below 0.9030 might be appropriate.
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USD/CAD
Price touched the main support at 0.9930 before rebounding once more, currently testing the 50 exponential moving average and approaching the top of this short term –shaded- range bound at 0.9990. This sideways trading pushed the pair out of the short term descending channel, accordingly; we will wait for a breach of this range, and above 0.9990 to expect further bullishness.
The trading range for today is expected among the major support at 0.9890 and the major resistance at 1.0075.
The short term trend is to the upside targeting 1.0650 with steady daily closing above 0.9900.
Support 0.9930 0.9890 0.9860 0.9830 0.9800
Resistance 0.9990 1.0015 1.0050 1.0075 1.0100
Recommendation Based on the charts and explanations above, we recommend buying the pair with hourly closing above 0.9990 targeting 1.0050 and 1.0075 stop loss with hourly closing below 0.9950 OR selling the pair with hourly closing below 0.9928 targeting 0.9890 and 0.9850, with stop loss with hourly closing above 0.9960.
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AUD/USD
The pair latest bullish attempt was halted at 1.0823, where price reversed to breach the short term ascending trend-line(dashed line) currently attempting to test the critical horizontal support among 1.0670-1.0690. Below this support resides the main ascending support of the inclining channel that carried price since December. Momentum indicators are unloading the negativity that was seen lately; as a result, we look for an upside rebound from the aforementioned potential support areas.
The trading range for today is expected among the major support at 1.0670 and the major resistance at 1.0900.
The short-term trend is to the upside targeting 1.1079 so long as 1.0130 remains intact.
Support 1.0670 1.0625 1.0570 1.0530 1.0500
Resistance 1.0735 1.0780 1.0820 1.0850 1.0900
Recommendation Based on the charts and explanations above, we recommend buying the pair around 1.0670 targeting 1.0735 and 1.0840 with stop loss below 1.0600.
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NZD/USD
The pair is correcting some of the latest gains, after topping at 0.8400 price reversed where it’s currently retesting the important support at 0.8280, a breach below this support could lead to the short term ascending trend-line around 0.8240, while RSI is heading towards oversold areas, accordingly, we expect a rebound today for another bullish attempt towards the latest highs.
.
The trading range for today is expected among the major support at 0.8280 and the major resistance at 0.8450.
The short-term trend is to the upside, targeting 0.8840 as long 0.7600 remain intact.
Support 0.8285 0.8240 0.8210 0.8175 0.8150
Resistance 0.8320 0.8350 0.8380 0.8400 0.8425
Recommendation Based on the charts and explanations above, we recommend buying the pair around 0.8285 targeting 0.8350 and 0.8400, stop loss below 0.8225.
