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EUR/USD
The pair has retraced from 50% Fibonacci of the entire upside wave from 1.2625 to the significant peak of 1.3485 but the closing was achieved negatively below SMA 100 and 38.2% level as seen on the provided daily chart. We hold onto our bearish predictions over intraday basis supported by the weakness on Stochastic and the solid resistance line of Pitchfork channel. A break below 1.3080 is needed to confirm and accelerate the move
.
The trading range for today is among key support at 1.2930 and key resistance at 1.3290.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 areas remain intact.
Support 1.3080 1.3055 1.3025 1.3005 1.2975
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Resistance 1.3140 1.3180 1.3200 1.3250 1.3290
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Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.3080 targeting 1.2975 and stop loss above 1.3235 might be appropriate.
GBP/USD
The pair has moved steadily upwards breaching through the upper line of the recently established descending channel as seen on the provided daily chart. The positive closing above the psychological level of 1.6000 and the bullishness on Stochastic and Parabolic SAR indicators are reasons that encourage us to suggest further gainstowards the high recorded in October, 2011 at 1.6165. On the downside, coming back below 1.5890 will negate and clear the path towards 1.5730 zones.
The trading range for today is among key support at 1.5840 and key resistance at 1.6165.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 areas remain intact.
Support 1.6000 1.5975 1.5950 1.5925 1.5890
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Resistance 1.6060 1.6075 1.6100 1.6125 1.6165
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Recommendation Based on the charts and explanations above our opinion is, buying the pair around 1.6000 targeting 1.6165 and stop loss below 1.5895 might be appropriate.
USD/JPY
The pair has achieved consecutive positive closings above 38.2% Fibonacci of the entire upside wave from 75.50 zones to the short term peak of 84.15 as seen on the provided four-hour chart. RSI 14 reflects increasing upside momentum and thus, the suggested Elliott sequence remains valid and should bring more buying interests. A breakout above 82.10 zones will be a very positive indication and will actuate bulls to retest the aforesaid top once more.
The trading range for today is among key support at 80.00 and key resistance now at 83.20.
The general trend over short term basis is to the upside, targeting 87.45 as far as areas of 75.20 remain intact.
Support 81.25 81.00 80.75 80.50 80.20
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Resistance 81.50 81.80 82.00 82.20 82.50
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Recommendation Based on the charts and explanations above our opinion is, buying the pair around 81.20 targeting 83.20 and stop loss below 79.80 might be appropriate.
USD/CHF
The bounce from the key resistance level of 0.9200 was limited above the support line from the suggested bottom of the internal second wave as seen on the main four-hour graph. Additionally, the daily closing was also achieved above Ribbons lines -EMA 10 to 80- as seen on the secondary image. Thereby, the bullishness based on the above seen Elliott sequence remains intact over intraday basis but we need another breakout above 0.9175 zones to confirm today’s proposed upside wave. Of note, coming below 0.9120 areas will force us to reconsider the internal count but will not damage the entire IM -impulsive- structure.
The trading range for today is among key support at 0.9000 and key resistance at 0.9335.
The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 areas remain intact.
Support 0.9145 0.9125 0.9105 0.9080 0.9030
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Resistance 0.9180 0.9200 0.9230 0.9260 0.9310
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Recommendation Based on the charts and explanations above our opinion is, buying the pair above 0.9180 targeting 0.9400 and stop loss below 0.9030 might be appropriate.
USD/CAD
The pair retests the breached support which turns into resistance now around 0.9900-0.9930. Stability below this area could push the pair further to the downside, as it may be heading to form a possible harmonic pattern that completes at 0.9840 or 0.9785. Steady trading below 1.000 is required for the negative expectations to remain valid.
The trading range for today is expected among the key support at 0.9730 and resistance at 1.0030.
The short term trend is to the upside targeting 1.0650 with steady weekly closing above 0.9900.
Support 0.9900 0.9865 0.9840 0.9815 0.9785
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Resistance 0.9930 0.9960 1.0000 1.0030 1.0070
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Recommendation Based on the charts and explanations above, our opinion is selling the pair around 0.9930 , and take profit in stages at (0.9840 and 0.9785) and stop loss above 1.0000 might be appropriate.
AUD/USD
The pair is trading without a clear bias over the short term basis, fluctuating around the 200-days SMA, and the previously breached ascending trend line for the whole uptrend and that what support the bearish scenario. A breach below the short term ascending support –dashed line- could confirm further downside movement.
The trading range for this day is expected among the key support at 1.0200 and the key resistance at 1.0465.
The short-term trend is to the upside targeting 1.1079 so long as 1.0130 remains intact.
Support 1.0350 1.0300 1.0275 1.0250 1.0200
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Resistance 1.0420 1.0450 1.0500 1.0560 1.0600
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Recommendation Based on the charts and explanations we recommend, selling the pair below 1.0400 targeting 1.0300 and 1.0225. Stop loss above 1.0465.
NZD/USD
Kiwi continues pushing to the downside approaching the first main support near 0.8130. The overall ranging stance remains intact, and thus we anticipate a bullish rebound from lower levels for a possible retest of areas near the top of the range bound among 0.8060-0.8280. While 0.8050 should hold for any possible bullishness to remain possible.
The trading range for this day is expected among the key support at 0.8050 and the key resistance at 0.8300.
The short-term trend is to the upside, targeting 0.8840 as long 0.7600 remain intact.
Support 0.8165 0.8130 0.8100 0.8060 0.8040
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Resistance 0.8190 0.8220 0.8250 0.8280 0.8325
________________________________________
Recommendation Based on the charts and explanations above, we recommend buying the pair around 0.8090 targeting 0.8185 and 0.8280, stop loss four-hour closing below 0.8050
The pair has retraced from 50% Fibonacci of the entire upside wave from 1.2625 to the significant peak of 1.3485 but the closing was achieved negatively below SMA 100 and 38.2% level as seen on the provided daily chart. We hold onto our bearish predictions over intraday basis supported by the weakness on Stochastic and the solid resistance line of Pitchfork channel. A break below 1.3080 is needed to confirm and accelerate the move
.
The trading range for today is among key support at 1.2930 and key resistance at 1.3290.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 areas remain intact.
Support 1.3080 1.3055 1.3025 1.3005 1.2975
________________________________________
Resistance 1.3140 1.3180 1.3200 1.3250 1.3290
________________________________________
Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.3080 targeting 1.2975 and stop loss above 1.3235 might be appropriate.
GBP/USD
The pair has moved steadily upwards breaching through the upper line of the recently established descending channel as seen on the provided daily chart. The positive closing above the psychological level of 1.6000 and the bullishness on Stochastic and Parabolic SAR indicators are reasons that encourage us to suggest further gainstowards the high recorded in October, 2011 at 1.6165. On the downside, coming back below 1.5890 will negate and clear the path towards 1.5730 zones.
The trading range for today is among key support at 1.5840 and key resistance at 1.6165.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 areas remain intact.
Support 1.6000 1.5975 1.5950 1.5925 1.5890
________________________________________
Resistance 1.6060 1.6075 1.6100 1.6125 1.6165
________________________________________
Recommendation Based on the charts and explanations above our opinion is, buying the pair around 1.6000 targeting 1.6165 and stop loss below 1.5895 might be appropriate.
USD/JPY
The pair has achieved consecutive positive closings above 38.2% Fibonacci of the entire upside wave from 75.50 zones to the short term peak of 84.15 as seen on the provided four-hour chart. RSI 14 reflects increasing upside momentum and thus, the suggested Elliott sequence remains valid and should bring more buying interests. A breakout above 82.10 zones will be a very positive indication and will actuate bulls to retest the aforesaid top once more.
The trading range for today is among key support at 80.00 and key resistance now at 83.20.
The general trend over short term basis is to the upside, targeting 87.45 as far as areas of 75.20 remain intact.
Support 81.25 81.00 80.75 80.50 80.20
________________________________________
Resistance 81.50 81.80 82.00 82.20 82.50
________________________________________
Recommendation Based on the charts and explanations above our opinion is, buying the pair around 81.20 targeting 83.20 and stop loss below 79.80 might be appropriate.
USD/CHF
The bounce from the key resistance level of 0.9200 was limited above the support line from the suggested bottom of the internal second wave as seen on the main four-hour graph. Additionally, the daily closing was also achieved above Ribbons lines -EMA 10 to 80- as seen on the secondary image. Thereby, the bullishness based on the above seen Elliott sequence remains intact over intraday basis but we need another breakout above 0.9175 zones to confirm today’s proposed upside wave. Of note, coming below 0.9120 areas will force us to reconsider the internal count but will not damage the entire IM -impulsive- structure.
The trading range for today is among key support at 0.9000 and key resistance at 0.9335.
The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 areas remain intact.
Support 0.9145 0.9125 0.9105 0.9080 0.9030
________________________________________
Resistance 0.9180 0.9200 0.9230 0.9260 0.9310
________________________________________
Recommendation Based on the charts and explanations above our opinion is, buying the pair above 0.9180 targeting 0.9400 and stop loss below 0.9030 might be appropriate.
USD/CAD
The pair retests the breached support which turns into resistance now around 0.9900-0.9930. Stability below this area could push the pair further to the downside, as it may be heading to form a possible harmonic pattern that completes at 0.9840 or 0.9785. Steady trading below 1.000 is required for the negative expectations to remain valid.
The trading range for today is expected among the key support at 0.9730 and resistance at 1.0030.
The short term trend is to the upside targeting 1.0650 with steady weekly closing above 0.9900.
Support 0.9900 0.9865 0.9840 0.9815 0.9785
________________________________________
Resistance 0.9930 0.9960 1.0000 1.0030 1.0070
________________________________________
Recommendation Based on the charts and explanations above, our opinion is selling the pair around 0.9930 , and take profit in stages at (0.9840 and 0.9785) and stop loss above 1.0000 might be appropriate.
AUD/USD
The pair is trading without a clear bias over the short term basis, fluctuating around the 200-days SMA, and the previously breached ascending trend line for the whole uptrend and that what support the bearish scenario. A breach below the short term ascending support –dashed line- could confirm further downside movement.
The trading range for this day is expected among the key support at 1.0200 and the key resistance at 1.0465.
The short-term trend is to the upside targeting 1.1079 so long as 1.0130 remains intact.
Support 1.0350 1.0300 1.0275 1.0250 1.0200
________________________________________
Resistance 1.0420 1.0450 1.0500 1.0560 1.0600
________________________________________
Recommendation Based on the charts and explanations we recommend, selling the pair below 1.0400 targeting 1.0300 and 1.0225. Stop loss above 1.0465.
NZD/USD
Kiwi continues pushing to the downside approaching the first main support near 0.8130. The overall ranging stance remains intact, and thus we anticipate a bullish rebound from lower levels for a possible retest of areas near the top of the range bound among 0.8060-0.8280. While 0.8050 should hold for any possible bullishness to remain possible.
The trading range for this day is expected among the key support at 0.8050 and the key resistance at 0.8300.
The short-term trend is to the upside, targeting 0.8840 as long 0.7600 remain intact.
Support 0.8165 0.8130 0.8100 0.8060 0.8040
________________________________________
Resistance 0.8190 0.8220 0.8250 0.8280 0.8325
________________________________________
Recommendation Based on the charts and explanations above, we recommend buying the pair around 0.8090 targeting 0.8185 and 0.8280, stop loss four-hour closing below 0.8050
