EUR/USD
The euro versus the dollar managed to quickly descend and halt the move at the 100 MA at 1.4890 and returned to ascend once again, in an attempt to attack scattered resistance levels between 1.4950 – 1.4985. Our morning expectations remain intact while we await a bullish intraday direction, which will prevail after a clear breach of 1.4985 that also requires 1.4855 to remain intact.
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 1.4890 1.4855 1.4800 1.4755 1.4700
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Resistance 1.4950 1.4985 1.5050 1.5100 1.5140
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Recommendation Based on the charts and explanations above our opinion is buying the pair with the breach of 1.4985 targeting 1.5100 and stop loss below 1.4890, might be appropriate
GBP/USD
The cable continued the negative pressure upon the main support at 1.6555; where the breach took the pair towards 1.6495 to test 61.8% Fibonacci correction's strength once again. However, if this level remains intact, the expected bullish direction will prevail if stability is achieved above 1.6555. The possible bullish direction for today will prevail if 1.6495 remains intact.
The trading range for today is among the key support at 1.6350 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 1.6495 1.6455 1.6405 1.6310 1.6245
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Resistance 1.6555 1.6645 1.6735 1.6790 1.6850
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Recommendation Our morning expectations remain valid
USD/JPY
The dollar versus the yen attempted to breach minor support, mentioned this morning, at 89.60; while completing the bearish technical pattern's formation over an intraday short term basis, which supports the expected bearish direction for today. From here our morning expectations will remain intact if 89.70 is not breached.
The trading range for today is among the key support at 87.10 and the key resistance at 90.40.
The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60.
Support 88.60 88.00 87.10 86.65 86.20
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Resistance 89.25 89.60 90.40 91.30 91.70
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Recommendation Our morning expectations remain valid
USD/CHF
The dollar versus swissy was able to breach the awaited minor support level at 1.0120; however, the 38.2% Fibonacci correction was able to halt the pair's push to return to levels near the minor support for the ascending channel around 1.0090, due to pressure from the negative signs appearing on Stochastic. The predicted bullish direction is still intact, where we could witness some fluctuations to unload the mentioned negative momentum and then continue the expected bullish intraday direction; requires the four hour closing to remain above 1.0090.
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 1.0090 1.0030 1.0000 0.9950 0.9900
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Resistance 1.0145 1.0185 1.0240 1.0265 1.0310
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Recommendation Our morning expectations remain valid
USD/CAD
The dollar versus loonie touched the resistance, shown this morning, at 1.0610 while moving to the upside to complete the bearish technical pattern formation, shown in the side image, which represents the pair's movement through the provided line charts; while bearish signs are appearing on Stochastic. These factors support the expected bearish direction which initially targets 1.0495 and essentially requires 1.0700 to remain intact.
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 1.0595 1.0520 1.0495 1.0425 1.0360
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Resistance 1.0610 1.0700 1.0760 1.0835 1.0870
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Recommendation Our morning expectations remain valid
