EUR/USD
Through the side image, we find that the pair managed to breach the pivotal resistance at 1.3715; whereas the minor bearish pattern's formation returned the pair below this level. We still hold onto our morning expectations; keeping in mind the negative signs on Stochastic.
The trading range for today is among the key support at 1.3550 and the key resistance at 1.3840.
The general trend is to the upside as far as 1.3480 remains intact with targets at 1.6000.
Support 1.3650 1.3615 1.3550 1.3480 1.3420
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Resistance 1.3715 1.3740 1.3800 1.3840 1.3925
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Recommendation Our morning expectations remain valid
GBP/USD
The pair was not able to breach the previously mentioned resistance at 1.5660 and continues to trade sideways, as seen through the image above. Momentum indicators are nearing oversold areas, thus supporting our morning expectations for a possible bullish intraday direction; targeting 1.5745 – 1.5845. It is vital that the four hour closing remains above 1.5570 for the expectations to prevail.
The trading range for today is among the key support at 1.5465 and the key resistance at 1.5845.
The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7200.
Support 1.5570 1.5525 1.5500 1.5465 1.5375
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Resistance 1.5660 1.5745 1.5785 1.5845 1.5900
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Recommendation Based on the charts and explanations above our opinion is buying the pair with the breach of 1.5660 targeting 1.5785 and stop loss below 1.5570, might be appropriate
USD/JPY
The dollar versus the yen managed to breach the major resistance at 89.50; and currently attempting to return to the descending channel, pressured by negative signs from Stochastic. Our morning expectations remain intact as far as no clear breach is seen for 90.40.
The trading range for today is among the key support at 87.75 and the key resistance at 90.45.
The general trend is to the downside as far as 102.60 remains intact with targets at 82.60.
Support 89.50 88.90 88.50 87.75 87.35
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Resistance 89.90 90.40 91.30 91.80 92.50
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Recommendation Our morning expectations remain valid
USD/CHF
The descended gradually since this morning, in an attempt to insure the breach of the awaited support at 1.0690. From here, we hold onto our morning suggested scenario, while keeping in mind that current trading could take a form of a falling wedge pattern; thereby postponing the expected bearish correction if the pair does not initially breach 1.0720.
The trading range for today is among the key support at 1.0500 and the key resistance at 1.0890.
The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.
Support 1.0690 1.0615 1.0555 1.0490 1.0400
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Resistance 1.0750 1.0815 1.0835 1.0890 1.0935
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Recommendation Our morning expectations remain valid
USD/CAD
The pair continues its sideway trading, as seen on the four hour chart, while noting how the pair rebounded to the upside after nearing the pivotal support at 1.0650. We still see the possibility for a bearish intraday direction, which remains valid as far as 1.0780 is intact.
The trading range for today is among the key support at 1.0520 and the key resistance at 1.0845.
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0000.
Support 1.0650 1.0565 1.0520 1.0450 1.0400
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Resistance 1.0720 1.0780 1.0865 1.0900 1.0960
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Recommendation Based on the charts and explanations above our opinion is selling the pair with the breach of 1.0640 targeting 1.0520 and stop loss above 1.0720, might be appropriate.
