EUR/USD
The pivotal resistance at 1.4930 held against pair's attempts to ascend, thus pushing the pair to move downwards and breach the main support at 1.4875; setting a four-hour closing below it. These factors are causing a downside reversal, supported by the bearish technical pattern that was formed, where it neckline is at 1.4880. The next bearish target is around 1.4800. This possible bearish reversal requires the four-hour closing below 1.4880.
The trading range for today is among the key support at 1.4650 and the key resistance at 1.5140.
The general trend is to the upside as far as 1.4135 remains intact with targets at 1.6000.
Support 1.4800 1.4755 1.4700 1.4615 1.4575
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Resistance 1.4880 1.4935 1.4995 1.5050 1.5100
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Recommendation Based on the charts and explanations above our opinion is selling the pair from 1.4880 targeting 1.4800 and stop loss above 1.4935, might be appropriate
GBP/USD
Sterling declined sharply against the dollar this morning to breach main support levels, where the last one was 1.6535 and is vital in determining the pair's short term direction. The constant negative pressure points to a possible short term intraday bearish reversal that will be insured if this daily and weekly closings as set. Meanwhile, the expected new bearish direction will prevail if the four-hour closing is set below 1.6535.
The trading range for today is among the key support at 1.6400 and the key resistance at 1.6730.
The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7200.
Support 1.6515 1.6460 1.6400 1.6310 1.6245
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Resistance 1.6535 1.6600 1.6655 1.6740 1.6790
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Recommendation Based on the charts and explanations above our opinion is to avoid trading while waiting for new signs to appear to insure the pair's direction might be appropriate
USD/JPY
Yesterday's scenario is reoccuring; where we find narrow trading and weak attempts to achieve a strong start for the awaited bearish wave. We still hold onto our morning expectations for a possible bearish intraday move for the remainder of trading today; it requires trading to constantly remain below 89.85. Stochastic has started to show negative signs that support our expectations.
The trading range for today is among the key support at 87.25 and the key resistance at 90.60.
The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60.
Support 88.40 88.00 87.25 86.65 86.20
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Resistance 89.05 89.85 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 89.05 target 88.00 and stop loss above 89.85, might be appropriate
USD/CHF
The dollar versus swissy continued its attempts at ascending ignoring the main resistance at 1.0135; where we noticed a bullish push that helped the bullish technical pattern this morning. The bearish direction shown this morning will prevail unless the daily closing was above 1.0135. From here we hold onto our morning expectations while keeping an eye on trading, especially when the pair reaches 1.0185.
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 1.0135 1.0085 1.0030 1.0000 0.9950
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Resistance 1.0185 1.0235 1.0265 1.0310 1.0335
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Recommendation Our morning expectations remain valid
USD/CAD
The dollar continues to hold grounds today, where its influence reached the Canadian currency; through the bullish technical pattern – shown in the side image -, pushing the pair to the upside to provide additional strength to insure the short term intraday direction reversal to the upside. From here we expect a bullish direction for the remainder of trading today, with chances for high volatility. The next target for the bullish move is around 1.0760.
The trading range for today is among the key support at 1.0425 and the key resistance at 1.0760.
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0000.
Support 1.0610 1.0535 1.0425 1.0360 1.0325
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Resistance 1.0695 1.0715 1.0760 1.0835 1.0870
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Recommendation Based on the charts and explanations above our opinion is buying the pair from 1.0665 targeting 1.0760 and stop loss below 1.0610, might be appropriate
