EUR/USD
The pair was not able to maintain its stance above the previously breached horizontal resistance at 1.3655 to return to trade within the previous sideway range. Today, there seems to be mixed trading that are mainly caused by the await for the US jobs report as of 13:30 GMT, where it makes us pay attention to trading. On the over all, we expect a bullish intraday direction where its main targets are at 1.3800, where they are supported by positive signs that appear on momentum indicators.
The trading range for today is among the key support at 1.3430 and the key resistance at 1.3800.
The general trend is to the upside if we do not witness a daily close below 1.3485 with targets at 1.5150.
Support 1.3585 1.3525 1.3485 1.3445 1.3360
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Resistance 1.3605 1.3655 1.3720 1.3800 1.3890
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Recommendation Based on the charts and explanations above our opinion is buying the pair with the breach of 1.3655 targeting 1.3800 and stop loss below 1.3585, might be appropriate
GBP/USD
The pair faced strong resistance at the first target achieved yesterday – 1.5130 – where some bearish correction will make positive momentum to appear currently through momentum indicators. Signs of a bullish technical pattern are forming, where its neckline is at 1.5130, where we expect a breach of this level to pave the way to reach the possible bullish direction for today; upcoming targets are around 1.5270. The main factor in achieving this ascend is represented in trading remaining above 1.4940.
The trading range for today is among the key support at 1.4850 and the key resistance at 1.5270.
The general trend is to the upside as far as 1.4850 remains intact with targets at 1.7000.
Support 1.5005 1.4940 1.4900 1.4850 1.4785
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Resistance 1.5065 1.5130 1.5190 1.5230 1.5270
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Recommendation Based on the charts and explanations above our opinion is buying the pair from 1.5005 targeting 1.5130 and stop loss below 1.4940, might be appropriate.
USD/JPY
The pair pushed upwards hitting into pivotal resistance at 89.35 and forming the suggested neckline for the bullish pattern, where we expect a bullish trend over an intraday basis that will start targeting 89.35 then head towards 90.60 mainly. The possible fluctuation could be between 89.35 and 89.70 to insure the strength of these levels. The breach of 88.60 will weaken chances of achieving these expectations.
The trading range for today is among the key support at 87.75 and the key resistance at 90.60.
The general trend is to the downside as far as 101.65 remains intact with targets at 82.60.
Support 88.60 88.20 87.75 86.90 86.40
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Resistance 89.35 89.70 90.10 90.60 91.40
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Recommendation Based on the charts and explanations above our opinion is buying the pair with the breach of 89.35 target 90.60 and stop loss below 88.60, might be appropriate.
USD/CHF
The pair cancelled out the previously suggested bearish technical pattern but the top achieved yesterday is at 1.0795, stopped the pair's ascend to appear as a bearish technical pattern, where its neckline is at 1.0645. Momentum indicators support the expected bearish intraday direction that targets 1.0645 then 1.0515. It is vital that trading below 1.0825 to maintain chances of achieving these expectations.
The trading range for today is among the key support at 1.0560 and the key resistance at 1.0895.
The general trend is to the downside as far as 1.1095 remains intact with targets at 0.9910.
Support 1.0755 1.0695 1.0645 1.0605 1.0560
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Resistance 1.0825 1.0850 1.0895 1.0945 1.1000
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Recommendation Based on the charts and explanations above our opinion is selling the pair with the breach of 1.0755 targeting 1.0645 and stop loss above 1.0825, might be appropriate.
USD/CAD
Narrow trading is dominating the pair since yesterday in an attempt to gain enough bearish momentum to support previous expectations of an expected bearish intraday trend. These expectations require the breach of 1.0305 that will pave the way towards 1.0220 then 1.0150. It is vital the importance of trading remaining below 1.0405 to insure achieving these expectations.
The trading range for today is among the key support at 1.0150 and the key resistance at 1.0470.
The general trend is to the downside as far as 1.0780 remains intact with targets at 1.0000.
Support 1.0305 1.0270 1.0220 1.0190 1.0150
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Resistance 1.0355 1.0405 1.0475 1.0500 1.0565
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Recommendation Based on the charts and explanations above our opinion is selling the pair the breach of 1.0305 targeting 1.0220 and stop loss above 1.0355, might be appropriate.
