EURUSD
The euro versus the dollar was able to breach the pivotal support at 1.3860, while the four hour closing remained below it and therefore supporting our expectations. From here, we hold onto our morning expectations as is that require trading to remain below 1.4000.
The trading range for today is among the key support at 1.3735 and the key resistance at 1.4055.
The general trend is to the upside as far as 1.3480 remains intact with targets at 1.6000.
Support 1.3800 1.3770 1.3735 1.3670 1.3645
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Resistance 1.3860 1.3925 1.3970 1.4000 1.4055
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Recommendation Our morning expectations remain valid
GBPUSD
Cable continues its bearish pressure and stabilized around the pivotal support at 1.5845. Momentum indicators are showing bullish signs that might force the pair to complete a minor ascend before continuing the bearish intraday trend; according to the suggested scenario this morning. We hold onto our morning expectations as far as 1.6075 is not breached.
The trading range for today is among the key support at 1.5700 and the key resistance at 1.6075.
The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7200.
Support 1.5800 1.5735 1.5700 1.5615 1.5555
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Resistance 1.5910 1.5975 1.6010 1.6075 1.6125
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Recommendation Based on the charts and explanations above our opinion is selling the pair from 1.5915 targeting 1.5800 and stop loss above 1.6010, might be appropriate.
USDJPY
The dollar versus yen managed to breach the support for the rising wedge at 90.80, which will activate the expected bearish intraday direction. Therefore, our morning expectations remain intact, as we await main targets around 89.10. The 200 MA is so far impeding the pair's awaited descend.
The trading range for today is among the key support at 89.10 and the key resistance at 91.90.
The general trend is to the downside as far as 102.60 remains intact with targets at 82.60.
Support 90.20 89.90 89.10 88.45 88.00
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Resistance 90.80 91.30 91.65 92.20 92.50
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Recommendation Our morning expectations remain valid
USDCHF
The dollar versus swissy is gradual ascending which is accompanied by bullish support for the ascending short term wave, which is currently at 1.0585. We still hold onto our morning expectations, keeping in mind the possibility of witnessing some fluctuation due to the negative signs from momentum indicators.
The trading range for today is among the key support at 1.0465 and the key resistance at 1.0700.
The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.
Support 1.0585 1.0500 1.0465 1.0395 1.0360
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Resistance 1.0645 1.0700 1.0775 1.0850 1.0935
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Recommendation Based on the charts and explanations above our opinion is buying the pair from 1.0585 targeting 1.0700 and stop loss below 1.0465, might be appropriate.
USDCAD
The pair is attacking the neckline for the bullish technical pattern, shown in our morning report, at 1.0630 in an attempt to confirm the breach. The 50 MA supports the expected bullish intraday trend. Therefore, we hold onto our suggested scenario since this morning that requires the four hour closing above 1.0510 to insure its validity.
The trading range for today is among the key support at 1.0460 and the key resistance at 1.0780.
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0000.
Support 1.0605 1.0555 1.0510 1.0465 1.0415
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Resistance 1.0630 1.0675 1.0700 1.0780 1.0870
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Recommendation Our morning expectations remain valid.
