EUR/USD
The pair was not able to achieve a daily closing below 1.3485, where it currently trades within a sideway range between 61.8% Fibonacci correction and 38.2%. We expect more possible bearish intraday direction that initially targets 1.3445 and requires trading to remain below 1.3655, where the bearish direction can be accelerated once a breakout occurs below 1.3485 zones.
The trading range for today is among the key support at 1.3400 and the key resistance at 1.3655.
The general trend is to the upside if we do not witness a daily close below 1.3485 with targets at 1.6000.
Support 1.3525 1.3485 1.3445 1.3360 1.3315
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Resistance 1.3575 1.3655 1.3670 1.3720 1.3800
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Recommendation Based on the charts and explanations above our opinion is selling the pair from 1.3575 targeting 1.3485 and stop loss above 1.3655, might be appropriate.
GBP/USD
The pair is trading around the previously breached key 61.8% Fibonacci correction yesterday, in an attempt to build a base that would support resuming the bearish direction.Stochastic is showing negative sign that makes us expect more possible bearish intraday direction; targeting 1.4785 initially and essentially requiring trading to remain below 1.5060.
The trading range for today is among the key support at 1.4785 and the key resistance at 1.5060.
The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7200.
Support 1.4850 1.4785 1.4730 1.4685 1.4640
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Resistance 1.4945 1.4985 1.5060 1.5085 1.5150
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Recommendation Based on the charts and explanations above our opinion is selling the pair from 1.4945 targeting 1.4785 and stop loss above 1.5060, might be appropriate.
USD/JPY
The pair is trading in a sideway manner,attempting to touch the pivotal resistance 89.70 in order to re-test it. Therefore, our previous expectations will prevail as we await for the bearish intraday direction; primary targets reside around 88.20. The short term wave requires the four-hour closing to remain below 90.25.
The trading range for today is among the key support at 88.20 and the key resistance at 90.25.
The general trend is to the downside as far as 102.60 remains intact with targets at 82.60.
Support 89.00 88.50 88.20 87.75 86.90
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Resistance 89.70 90.00 90.25 90.85 91.40
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Recommendation Based on the charts and explanations above our opinion is selling the pair from 89.70 target 88.20 and stop loss above 90.25, might be appropriate.
USD/CHF
The pair is still attempting to return within the ascending channel through breaching pivotal resistance 1.0825. We see that the pair holds enough bullish momentum that would be enough to help it achieving the breakout to pave the way towards achieving a possible bullish trend over an intraday basis; targets start at 1.0895 then 1.0945. Keep in mind that the breach of 1.0780 will weaken chances of achieving these expectations.
The trading range for today is among the key support at 1.0715 and the key resistance at 1.1000.
The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.
Support 1.0780 1.0715 1.0645 1.0605 1.0560
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Resistance 1.0825 1.0895 1.0945 1.1000 1.1050
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Recommendation Based on the charts and explanations above our opinion is buying the pair with the breach of 1.0825 targeting 1.0895 and stop loss below 1.0780, might be appropriate.
USD/CAD
The pair managed to achieve a sharp descend to breach 61.8% Fibonacci correction; whereas support appearing through the image above is protecting chances of a bullish direction. Momentum indicators are showing oversold signs that encourage us to expect a bullish intraday trend, where its main targets start from 1.0500 then 1.0565. These expectations require the four- hour candlestick closing to remain above 1.0395.
The trading range for today is among the key support at 1.0305 and the key resistance at 1.0645.
The general trend is to the downside as far as 1.1295 remains intact with targets at 1.0000.
Support 1.0395 1.0355 1.0305 1.0270 1.0190
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Resistance 1.0435 1.0500 1.0565 1.0645 1.0700
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Recommendation Based on the charts and explanations above our opinion is buying the pair from 1.0395 targeting 1.0500 and stop loss below 1.0305, might be appropriate.
