EUR/USD
This euro versus the dollar succeeded in breaching the neckline shown this morning at 1.4890; strongly moving to the upside and is near to touching its first target at 1.5000. Our morning expectations remain intact, where we await more expected bullish movement for the remainder of today's trading, which requires 1.4845 to remain intact.
The trading range for today is among the key support at 1.4650 and the key resistance at 1.5200.
The general trend is to the upside as far as 1.4135 remains intact with targets at 1.6000.
Support 1.4890 1.4845 1.4805 1.4755 1.4700
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Resistance 1.5000 1.5050 1.5100 1.5140 1.5200
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Recommendation Our morning expectations remain valid
GBP/USD
The support level for the ascending channel maintained its stance in front of numerous attempts by cable to breach it, also including the level that was a result of data released from the BoE today. For morning expectations to prevail, trading must remain above support 1.6810; pointing to an expected bullish direction over an intraday basis awaited to be witnessed today, which targets 1.6960 and then 1.7000. The bullish intraday direction requires the four-hour closing above 1.6810; whereas the bullish short term direction requires 1.6640 to remain intact.
The trading range for today is among the key support at 1.6560 and the key resistance at 1.7200.
The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7200.
Support 1.6810 1.6740 1.6695 1.6640 1.6600
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Resistance 1.6880 1.6960 1.7005 1.7035 1.7120
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Recommendation Our morning expectations remain valid
USD/JPY
The dollar versus the yen is facing calm trading within a narrow range since this morning, nearing the awaited resistance at 89.25. We still hold onto our morning expectations, while we await a possible bearish intraday direction for the remainder of trading today; initially targeting 87.55 and require 90.15 to remain intact.
The trading range for today is among the key support at 87.55 and the key resistance at 91.35.
The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60.
Support 88.80 88.40 87.55 87.15 86.65
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Resistance 89.25 90.15 90.60 91.30 91.80
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Recommendation Based on the charts and explanations above our opinion is selling the pair from 89.25 target 87.55 and stop loss above 90.15, might be appropriate
USD/CHF
The dollar versus swissy has started its awaited bearish wave for today; building a base on 1.0155 and nearing from pivotal support levels between 1.0045 – 1.0035. From here our expectations of a bearish direction for the pair still remain intact, where we await a strong activation of this direction through breaching 1.0045; thus, paving a way towards 0.9950 – 0.9900. It is vital that the daily close remain below 1.0160 to maintain the bearish direction's expected continuation.
The trading range for today is among the key support at 0.9950 and the key resistance at 1.0335.
The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.
Support 1.0045 1.0000 0.9950 0.9900 0.9840
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Resistance 1.0160 1.0220 1.0265 1.0310 1.0335
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Recommendation Based on the charts and explanations above our opinion is selling the pair with the breach of 1.0045 targeting 0.9900 and stop loss above 1.0160, might be appropriate
USD/CAD
The dollar versus loonie reached the main support 1.0460 and is attempting to clearly breach this level. From here the pair is moving according to our morning expectations and then we can expect more bearish movement for today; keeping in mind that the descending road will not be easily opened, according to the positive signs appearing on momentum indicators, also including strong support awaited at 1.0420.
The trading range for today is among the key support at 1.0275 and the key resistance at 1.0715.
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0000.
Support 1.0460 1.0420 1.0360 1.0325 1.0275
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Resistance 1.0535 1.0560 1.0645 1.0690 1.0715
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Recommendation Our morning expectations remain valid
