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EUR/USD
Classically speaking, the bearish channel drawn on the daily graph after bottoming out at 1.2285 is classified as a huge bearish flag pattern and we can see a series of negative closings below its lower line. Actually, yesterday’s closing below 23.6% Fibonacci level argues us to propose more downside actions over intraday basis. A break below 1.2440 will confirm and accelerate the decline.
The trading range for today is among key support at 1.2310 and key resistance at 1.2685.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2460 1.2420 1.2400 1.2360 1.2310
Resistance 1.2520 1.2550 1.2575 1.2630 1.2685
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.2520 targeting 1.2310 and stop loss above 1.2630 might be appropriate.
GPB/USD
The pair has achieved a new negative closing below the initial support zones between 1.5660 and 1.5585 as seen on the provided daily chart. In the interim, the combination of moving averages continued to cover the bearishness as well. Hence, we hold onto our bearish scenario over intraday basis supported by the negativity on Stochastic. Finally, a breakout below 1.5510 will confirm and accelerate the bearish wave.
The trading range for today is among key support at 1.5360 and key resistance at 1.5780.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.5555 1.5515 1.5460 1.5420 1.5400
Resistance 1.5630 1.5680 1.5700 1.5730 1.5750
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.5620 targeting 1.5400 and stop loss above 1.5750 might be appropriate.
USD/JPY
The pair continued to move bearishly entering the territories of retest for yesterday’s discussed head and shoulders bottom pattern as seen on the provided four-hour graph. The bearish sign on Vortex indicator in addition to the sensitivity of the current price levels over bigger time frames force us to be patient awaiting more confirmations to pinpoint the upcoming move. We may get the required confirmations if the pair stabilizes above 79.80 zones once more. To the downside, the last defensive level for the aforesaid reversal pattern resides at 78.60 areas.
The trading range for today is among key support at 78.20and key resistance now at 80.75.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 79.25 79.00 78.80 78.50 78.20
Resistance 79.80 80.10 80.30 80.50 80.75
Recommendation Based on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.
USD/CHF
Trading settled around 0.9600 areas which is the 23.6% correction shown above. The Linear Regression Indicators remain positive and that accompanies the formation of a Flag continuation pattern. Therefore, we expect the bullish move to extend today as far as 0.9490 remains intact.
The trading range for today is among key support at 0.9405 and key resistance at 0.9750.
The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 remains intact.
Support 0.9575 0.9520 0.9490 0.9450 0.9405
Resistance 0.9635 0.9680 0.9700 0.9750 0.9780
Recommendation Based on the charts and explanations above, our opinion is buying the pair around 0.9600 targeting 0.9700 then 0.9750 and stop loss below 0.9520 might be appropriate
USD/CAD
The positive trading continues for the pair supported by the Linear Regression Indicators; nevertheless, we can see 1.0290 areas holding against the current upside move. We need to see stability above the mentioned level for the upside move to continue. The general formation is affected by the continuation Falling Wedge (positive pattern) and therefore we expect the upside move to continue and stability above 1.0200 is required for our intraday positive expectations to remain valid.
The trading range for today is among key support at 1.0100 and key resistance at 1.0420.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Support 1.0260 1.0200 1.0180 1.0150 1.0120
Resistance 1.0290 1.0350 1.0375 1.0420 1.0440
Recommendation Based on the charts and explanations above, our opinion is buying the pair around 1.0260 targeting 1.0350 then 1.0420 and stop loss below 1.0150 might be appropriate
AUD/USD
After reaching 38.2% correction shown above, the pair returned to trade slightly higher accompanied by the positivity on RSI. The Linear Regression Indicators remain negative despite stability above 34 indicator and trading is outside the breached ascending channel and accordingly we might see the pair resume the intraday bearishness for today. Stability of 1.0070 areas is required to preserve our intraday expectations.
The trading range for today is expected among the key support at 0.9860 and resistance at 1.0130.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0240.
Support 1.0000 0.9980 0.9920 0.9900 0.9860
Resistance 1.0070 1.0095 1.0130 1.0180 1.0220
Recommendation Based on the charts and explanations above, our opinion is selling the pair around 1.0070 targeting 1.0000 then 0.9920 and stop loss above 1.0130 might be appropriate
NZD/USD
Despite the upside move seen, we can see the movement remains week and Stochastic is preparing for a negative crossover and RSI is unable to stabilize above 50 points and that supports further the negative Linear Regression Indicators. Breaching the ascending channel is the main reason behind the reversal in the overall trend to the downside and for today breaching 0.7840 will accelerate the move.
The trading range for today is expected among the key support at 0.7705 and resistance at 0.8015.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.7840 0.7810 0.7785 0.7745 0.7705
Resistance 0.7885 0.7905 0.7950 0.7990 0.8015
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.7885 targeting 0.7810 then 0.7705 and stop loss above 0.7990 might be appropriate
Classically speaking, the bearish channel drawn on the daily graph after bottoming out at 1.2285 is classified as a huge bearish flag pattern and we can see a series of negative closings below its lower line. Actually, yesterday’s closing below 23.6% Fibonacci level argues us to propose more downside actions over intraday basis. A break below 1.2440 will confirm and accelerate the decline.
The trading range for today is among key support at 1.2310 and key resistance at 1.2685.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2460 1.2420 1.2400 1.2360 1.2310
Resistance 1.2520 1.2550 1.2575 1.2630 1.2685
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.2520 targeting 1.2310 and stop loss above 1.2630 might be appropriate.
GPB/USD
The pair has achieved a new negative closing below the initial support zones between 1.5660 and 1.5585 as seen on the provided daily chart. In the interim, the combination of moving averages continued to cover the bearishness as well. Hence, we hold onto our bearish scenario over intraday basis supported by the negativity on Stochastic. Finally, a breakout below 1.5510 will confirm and accelerate the bearish wave.
The trading range for today is among key support at 1.5360 and key resistance at 1.5780.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.5555 1.5515 1.5460 1.5420 1.5400
Resistance 1.5630 1.5680 1.5700 1.5730 1.5750
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.5620 targeting 1.5400 and stop loss above 1.5750 might be appropriate.
USD/JPY
The pair continued to move bearishly entering the territories of retest for yesterday’s discussed head and shoulders bottom pattern as seen on the provided four-hour graph. The bearish sign on Vortex indicator in addition to the sensitivity of the current price levels over bigger time frames force us to be patient awaiting more confirmations to pinpoint the upcoming move. We may get the required confirmations if the pair stabilizes above 79.80 zones once more. To the downside, the last defensive level for the aforesaid reversal pattern resides at 78.60 areas.
The trading range for today is among key support at 78.20and key resistance now at 80.75.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 79.25 79.00 78.80 78.50 78.20
Resistance 79.80 80.10 80.30 80.50 80.75
Recommendation Based on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.
USD/CHF
Trading settled around 0.9600 areas which is the 23.6% correction shown above. The Linear Regression Indicators remain positive and that accompanies the formation of a Flag continuation pattern. Therefore, we expect the bullish move to extend today as far as 0.9490 remains intact.
The trading range for today is among key support at 0.9405 and key resistance at 0.9750.
The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 remains intact.
Support 0.9575 0.9520 0.9490 0.9450 0.9405
Resistance 0.9635 0.9680 0.9700 0.9750 0.9780
Recommendation Based on the charts and explanations above, our opinion is buying the pair around 0.9600 targeting 0.9700 then 0.9750 and stop loss below 0.9520 might be appropriate
USD/CAD
The positive trading continues for the pair supported by the Linear Regression Indicators; nevertheless, we can see 1.0290 areas holding against the current upside move. We need to see stability above the mentioned level for the upside move to continue. The general formation is affected by the continuation Falling Wedge (positive pattern) and therefore we expect the upside move to continue and stability above 1.0200 is required for our intraday positive expectations to remain valid.
The trading range for today is among key support at 1.0100 and key resistance at 1.0420.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Support 1.0260 1.0200 1.0180 1.0150 1.0120
Resistance 1.0290 1.0350 1.0375 1.0420 1.0440
Recommendation Based on the charts and explanations above, our opinion is buying the pair around 1.0260 targeting 1.0350 then 1.0420 and stop loss below 1.0150 might be appropriate
AUD/USD
After reaching 38.2% correction shown above, the pair returned to trade slightly higher accompanied by the positivity on RSI. The Linear Regression Indicators remain negative despite stability above 34 indicator and trading is outside the breached ascending channel and accordingly we might see the pair resume the intraday bearishness for today. Stability of 1.0070 areas is required to preserve our intraday expectations.
The trading range for today is expected among the key support at 0.9860 and resistance at 1.0130.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0240.
Support 1.0000 0.9980 0.9920 0.9900 0.9860
Resistance 1.0070 1.0095 1.0130 1.0180 1.0220
Recommendation Based on the charts and explanations above, our opinion is selling the pair around 1.0070 targeting 1.0000 then 0.9920 and stop loss above 1.0130 might be appropriate
NZD/USD
Despite the upside move seen, we can see the movement remains week and Stochastic is preparing for a negative crossover and RSI is unable to stabilize above 50 points and that supports further the negative Linear Regression Indicators. Breaching the ascending channel is the main reason behind the reversal in the overall trend to the downside and for today breaching 0.7840 will accelerate the move.
The trading range for today is expected among the key support at 0.7705 and resistance at 0.8015.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.7840 0.7810 0.7785 0.7745 0.7705
Resistance 0.7885 0.7905 0.7950 0.7990 0.8015
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.7885 targeting 0.7810 then 0.7705 and stop loss above 0.7990 might be appropriate
