EURUSD
A strong upside move pushed the pair above 1.2690 yet still remains steady below 1.2775 which preserves our morning expectations intact for the rest of the day. Returning below 1.2690 is required to cancel the positive crossover on Stochastic.
The trading range for today is among the major support at 1.2520 and the major resistance at 1.2775.
The short term trend is to the downside as far as 1.3770 is intact with targets at 1.1700.
Support 1.2690 1.2625 1.2600 1.2570 1.2520
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Resistance 1.2775 1.2830 1.2875 1.2900 1.2935
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Recommendation Our morning expectations remain valid
GBPUSD
The pair remains above the main resistance for the downside wave which preserves our expectation intact. We support our expectations with the positive crossover on Stochastic and its breach of the 50 areas to the upside.
The trading range for today is among the major support at 1.5300 and the major resistance at 1.5620.
The short term trend is to the downside as far as 1.6070 is intact with targets at 1.3800.
Support 1.5385 1.5300 1.5230 1.5180 1.5125
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Resistance 1.5465 1.5500 1.5555 1.5585 1.5650
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Recommendation Our morning expectations remain valid
USDJPY
From the areas around 84.05 suggested in our morning report the pair fell under negative pressure and attempting now to breach 83.85 once again targeting the next support at 83.30. The descending channel is supporting us to preserve our morning expectations for the rest of the day.
The trading range for today is among the major support at 81.60 and the major resistance at 85.00.
The short term trend is to the downside as far as 91.55 is intact with targets at 79.60.
Support 83.85 83.30 83.00 82.40 82.00
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Resistance 84.05 84.75 85.00 85.90 86.35
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Recommendation Our morning expectations remain valid
USDCHF
The pair rushed to the upside breaching the resistance for the downside wave and currently suffering from the buying saturation on momentum indicators. We remain neutral for the rest of the day awaiting confirmations for the breach of the resistance or returning to trade below it due to the negative momentum.
The trading range for today is among the major support at 0.9935 and the major resistance at 1.0245.
The short term trend is to the upside with steady daily closing above 0.9935 targeting 1.1120.
Support 1.0185 1.0125 1.0060 1.0010 0.9935
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Resistance 1.0265 1.0305 1.0365 1.0420 1.0485
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Recommendation Based on the charts and explanations above our opinion is awaiting more confirmations for the upcoming trend
USDCAD
From areas of 1.0345 the pair declined and currently trying to confirm the breach of 1.0315 targeting 1.0245 and accordingly our expectations remain valid.
The trading range for today is among the major support at 1.0135 and the major resistance at 1.0425.
The short term trend is to the upside as far as 0.9925 is intact with targets at 1.1485.
Support 1.0285 1.0245 1.0190 1.0135 1.0105
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Resistance 1.0345 1.0405 1.0465 1.0505 1.0565
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Recommendation Our morning expectations remain valid
