EUR/USD
The negative pressure continues on the pair, where it fluctuated around MA 50. The bearish technical pattern's neckline at 1.3525, which encourages us to expect a possible bearish trend for today that will mainly be activated after the breach of 1.3525 to target 1.3430. The bearish short term wave will remain intact as long as trading remains below 1.3705.
The trading range for today is among the key support at 1.3430 and the key resistance at 1.3705.
The general trend is to the upside if we do not witness a daily close below 1.3485 with targets at 1.5150.
Support 1.3605 1.3585 1.3525 1.3485 1.3430
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Resistance 1.3655 1.3705 1.3690 1.3705 1.3735
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Recommendation Based on the charts and explanations above our opinion is selling the pair with the breach of 1.3605 targeting 1.3525 and stop loss above 1.3655, might be appropriate.
GBP/USD
The pair managed to achieve the breach of bearish pattern's support (rising wedge) at 1.5075 to find horizontal support 1.4990 that forms the neckline for the bearish technical pattern (double top), accompanied by oversold signs appearing through momentum indicators that adds additional strength to the current support. The possible fluctuation expected around 1.4990 followed by a breach that will pave the way to achieve the possible bearish intraday trend; targeting 1.4855 then 1.4795. It is vital that the pair remain above 1.5075 that will weaken chances of achieving these expectations.
The trading range for today is among the key support at 1.4795 and the key resistance at 1.5195.
The general trend is to the upside as far as 1.4850 remains intact with targets at 1.7000.
Support 1.4990 1.4940 1.4900 1.4850 1.4795
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Resistance 1.5075 1.5145 1.5195 1.5230 1.5270
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Recommendation Based on the charts and explanations above our opinion is selling the pair from 1.5075 targeting 1.4990 and stop loss above 1.5145, might be appropriate.
USD/JPY
After achieving the bullish technical pattern's targets shown in our previous reports, the pair's trading reversed to descend below MA 200; therefore making us expect a bearish intraday trend that will target first 89.35 then 88.70. It is vital to remain intact 90.60 to maintain chances of achieving these expectations.
The trading range for today is among the key support at 88.70 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 89.65 89.35 88.70 88.20 87.75
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Resistance 90.15 90.60 91.40 92.15 92.40
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Recommendation Based on the charts and explanations above our opinion is selling the pair from 90.15 target 89.35 and stop loss above 90.60, might be appropriate.
USD/CHF
The pair is fluctuating around MA 50 in an attempt to stabilize above it, with signs of a bullish pattern appearing as a falling wedge; targeting the breach of its resistance at 1.0765 that paves the way for achieving the possible bullish intraday direction that starts its main targets at 1.0895 that requires trading to remain above 1.0645 to insure it prevailing.
The trading range for today is among the key support at 1.0605 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 1.0715 1.0645 1.0605 1.0560 1.0515
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Resistance 1.0765 1.0825 1.0850 1.0895 1.0945
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Recommendation Based on the charts and explanations above our opinion is buying the pair with the breach of 1.0765 targeting 1.0895 and stop loss below 1.0645, might be appropriate.
USD/CAD
The pair found strong support around 1.0250 and trading is stuck within the bullish technical pattern that is represented by the falling wedge, where its resistance is at 1.0295. We expect the breach of this level that will lead to a direct ascend that will retest its previously breached main support at 1.0365 that meets with MA 50. The stochastic is nearing overbought signs. These factors make us expect a minor intraday bullish trend towards retesting the mentioned levels, followed by a bearish reversal where the overall expected direction is bearish over an intraday and short term basis. The breach of 1.0245 will speed up the overall bearish direction below the need of an expected retest process.
The trading range for today is among the key support at 1.0150 and the key resistance at 1.0365.
The general trend is to the downside as far as 1.0780 remains intact with targets at 1.0000.
Support 1.0245 1.0190 1.0150 1.0080 1.0000
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Resistance 1.0295 1.0365 1.0405 1.0475 1.0500
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Recommendation Based on the charts and explanations above our opinion is buying the pair from 1.0295 targeting 1.0365 and stop loss below 1.0245, might be appropriate.
