EURUSD
The pair breached the pivotal support at 1.2770 and stabilized below it, paving the way for a possible bearish reversal supported by trading below the 50 MA. Momentum indicators remain positive, thus we await for the daily closing around 1.2730 – 1.2770 to insure the upcoming short term direction.
The trading range for today is among the key support at 1.2715 and the key resistance at 1.3000.
The short term trend is to the downside as far as 1.3770 remains intact with targets at 1.1700.
Support 1.2730 1.2675 1.2625 1.2600 1.2570
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Resistance 1.2770 1.2830 1.2900 1.2950 1.3000
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Recommendation Our morning expectation remains valid.
GBPUSD
The pair found good support around 1.5345, which is awaited to be breached with a rebound to the upside due to the positive effect from Stochastic. We still hold onto our morning expectations, where a clear breach of 1.5460 was not witnessed.
The trading range for today is among the key support at 1.5180 and the key resistance at 1.5460.
The short term trend is to the downside as far as 1.6070 remains intact with targets at 1.3800.
Support 1.5345 1.5295 1.5230 1.5180 1.5125
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Resistance 1.5415 1.5460 1.5500 1.5555 1.5585
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Recommendation Based on the charts and explanations above our opinion is selling the pair with the breach of 1.5345 targeting 1.5180 and stop loss above 1.5460, might be appropriate.
USDJPY
The pair is still moving within a narrow range, while building a base below the 50 MA ; therefore, our expectations will prevail as long as stability is below 85.05.
The trading range for today is among the key support at 82.55 and the key resistance at 85.05.
The short term trend is to the downside as far as 91.55 remains intact with targets at 79.60.
Support 83.85 83.30 82.65 82.00 81.60
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Resistance 84.85 85.05 85.90 86.35 86.90
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Recommendation Based on the charts and explanations above our opinion is selling the pair around 84.45 targeting 83.30 and stop loss above 85.05, might be appropriate.
USDCHF
The pair succeeded in breaching the resistance for the falling wedge, activating the morning scenario; our scenario remains valid as long as a base is built above 1.0070.
The trading range for today is among the key support at 0.9915 and the key resistance at 1.0250.
The short term trend is to the upside as far as 0.9990 remains intact with targets at 1.1120.
Support 1.0105 1.0070 1.0010 0.9960 0.9915
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Resistance 1.0115 1.0155 1.0190 1.0250 1.0305
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Recommendation Our morning expectation remains valid.
USDCAD
The pair inched closer to the awaited retest level at 1.0440, accompanied by Stochastic entering overbought areas and thereby supports our morning expectations. We expect a bearish direction for today, while reminding of the importance of trading below 1.0440 to maintain these expectations.
The trading range for today is among the key support at 1.0245 and the key resistance at 1.0440.
The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.
Support 1.0345 1.0315 1.0245 1.0190 1.0135
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Resistance 1.0405 1.0440 1.0505 1.0565 1.0595
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Recommendation Based on the charts and explanations above our opinion is selling the pair around 1.0440 targeting 1.0315 and stop loss above 1.0510, might be appropriate.
