EUR/USD
The euro versus the dollar rushed to the upside before building its base on the support mentioned this morning at 1.4890. The breach of the pivotal support at 1.4960 points to obvious momentum to achieve the expected bullish direction; thus, we await more expected bullish movement throughout today's trading session, with chances of some minor bearish correction that will retest breached resistance levels. As long as 1.4855 remains intact, the expected bullish direction will prevail.
The trading range for today is among the key support at 1.4800 and the key resistance at 1.5100.
The general trend is to the upside as far as 1.4135 remains intact with targets at 1.6000.
Support 1.4960 1.4890 1.4855 1.4800 1.4755
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Resistance 1.5000 1.5050 1.5100 1.5140 1.5200
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Recommendation Based on the charts and explanations above our opinion is buying the pair from 1.4960 targeting 1.5100 and stop loss below 1.4890, might be appropriate
GBP/USD
Cable managed to ascend and breach the resistance level for the minor bearish channel at 1.6580; meanwhile, 1.6630 is standing as an impediment in front of witnessing more upside movement. We still hold onto our morning expectations, where we await a bearish intraday movement for the remainder of trading today supported by negative signs on Stochastic.
The trading range for today is among the key support at 1.6350 and the key resistance at 1.6735.
The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7200.
Support 1.6580 1.6525 1.6495 1.6460 1.6405
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Resistance 1.6665 1.6740 1.6790 1.6850 1.6875
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Recommendation Our morning expectations remain valid
USD/JPY
The dollar versus yen maintained its attempts to trade on the side and attempt to breach once and move to the downside since this morning. From here our morning expectations remain intact, where we await a base to be built on the minor resistance 89.15 and then achieve a possible bearish intraday direction for today which targets 87.15 and requires 89.75 to remain intact.
The trading range for today is among the key support at 87.15 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 88.75 88.00 87.15 86.65 86.20
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Resistance 89.15 89.75 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 89.15 target 88.00 and stop loss above 89.75, might be appropriate.
USD/CHF
The dollar versus swissy reached support levels for the ascending channel, shown this morning, at 1.0085; representing the next pivotal short term direction for the pair. We currently expect a bullish direction over intraday basis, where its first target is at 1.0240, taking into consideration that the breach of the mentioned support will take the short term intraday direction towards the downside, and the failure of the expected bullish direction's scenario.
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 1.0085 1.0030 1.0000 0.9950 0.9900
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Resistance 1.0120 1.0185 1.0240 1.0265 1.0310
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Recommendation Our morning expectations remain valid
USD/CAD
The dollar versus loonie succeeded in strongly breaching pivotal support, mentioned this morning, at 1.0625 and near the awaited primary target at 1.0520. Our morning's expectations remain as is, where we await more bearish movement for the remainder of trading today; keeping in mind chances of achieving some minor bullish correction and retest the breached level due to pressure by momentum indicators. The next target is bearish and exists at 1.0425.
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 1.0520 1.0475 1.0425 1.0360 1.0325
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Resistance 1.0625 1.0700 1.0760 1.0835 1.0870
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Recommendation Our morning expectations remain valid
