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EUR/USD
The pair has been trading narrowly since the opening of this week below the neckline of the suggested head and shoulders pattern. All what we need is a sustained breakout below the support zones of 1.2550 to make sure that the recent recovery is already limited. On the upside, breaching through 1.2750 will give us a rational technical reason for pause.
The trading range for today is among key support at 1.2420 and key resistance at 1.2815.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2600 1.2575 1.2550 1.2520 1.2460
Resistance 1.2650 1.2685 1.2700 1.2730 1.2790
Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.2550 targeting 1.2290 and stop loss above 1.2750 might be appropriate this week
GPB/USD
The pair remains trapped between SMA 50 and the pivotal support zones of 38.2% Fibonacci as seen on the provided daily chart. Meanwhile, Stochastic continues to offer a positive sign and that contradicts with the negativity on trend indicators. In result, we remain neutral for the rest of the day. Carefully note that a breakout below 1.5510 will be a very negative indication.
The trading range for today is among key support at 1.5490 and key resistance at 1.5820.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.5650 1.5630 1.5600 1.5585 1.5555
Resistance 1.5700 1.5730 1.5780 1.5820 1.5880
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/JPY
Over daily basis, we notice how the pair has recently drawn a secondary ascending channel supporting the classical pattern on the four-hour interval and we recommend reviewing the weekly report for more details about the pattern. A break above 79.80 will confirm the intraday bullish overview; whilst a breakout above 80.30 will be a very positive indication for short term traders.
The trading range for today is among key support at 78.20 and 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 79.55 79.25 79.00 78.80 78.60
Resistance 79.80 80.00 80.10 80.30 80.50
Recommendation Our weekly expectations remain valid.
USD/CHF
The pair attempted to breach 38.2% correction around 0.9490 but rebounded to the upside once again. The negativity on the Linear Regression Indicators in addition to stability below 23.6% correction at 0.9600 makes us hold onto our negative weekly outlook where stability below 0.9490 will be further confirmation to our expectations.
The trading range for this week is among key support at 0.9320 and key resistance at 0.9770.
The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 remains intact.
Support 0.9520 0.9490 0.9460 0.9405 0.9365
Resistance 0.9550 0.9600 0.9635 0.9700 0.9770
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9550 targeting 0.9490, 0.9405 then 0.9320 and stop loss above 0.9680 might be appropriate this week
USD/CAD
Stability below 1.0200 keeps the negative outlook intact as we said that the pair is forming the CD leg of the suggested harmonic Bat Pattern. The Linear Regression Indicators are negative and RSI is trading freely below 50 points and even as Stochastic trades in oversold areas no reversal signals are seen and accordingly we hold onto our bearish weekly expectations.
The trading range for this week is among key support at 0.9870 and key resistance at 1.0365.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Support 1.0160 1.0120 1.0045 1.0000 0.9970
Resistance 1.0200 1.0290 1.0310 1.0365 1.0420
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 1.0200 targeting 1.0120 then 1.0045 and stop loss above 1.0290 might be appropriate this week
AUD/USD
Over daily basis, we can see the pair rebounded from areas around 1.0220 support which resides near the Linear Regression Indicator 34. This supports our expectations for the upside move to extend this week . The overbought signs on Stochastic will not restrict the upside move as far as areas of 1.0125 remain intact.
The trading range for this week is expected among the key support at 0.9825 and resistance at 1.0480.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0240.
Support 1.0220 1.0185 1.0125 1.0095 1.0025
Resistance 1.0255 1.0310 1.0370 1.0415 1.0480
Recommendation Our weekly expectations remain valid
NZD/USD
On the secondary image we can see the serious attempts at breaching the main harmonic resistance connecting tops A and C of the bullish Bat Pattern. We need confirmation for the breach of this level before defining the intraday direction although we favor the possibility of a confirmed breach and the resumption of the upside move, but for now we prefer to stay aside awaiting the confirmations.
The trading range for this week is expected among the key support at 0.7785 and resistance at 0.8320.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.8015 0.7985 0.7920 0.7885 0.7850
Resistance 0.8080 0.8135 0.8220 0.8265 0.8320
Recommendation Based on the charts and explanations above, we recommend staying aside awaiting further confirmations
The pair has been trading narrowly since the opening of this week below the neckline of the suggested head and shoulders pattern. All what we need is a sustained breakout below the support zones of 1.2550 to make sure that the recent recovery is already limited. On the upside, breaching through 1.2750 will give us a rational technical reason for pause.
The trading range for today is among key support at 1.2420 and key resistance at 1.2815.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2600 1.2575 1.2550 1.2520 1.2460
Resistance 1.2650 1.2685 1.2700 1.2730 1.2790
Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.2550 targeting 1.2290 and stop loss above 1.2750 might be appropriate this week
GPB/USD
The pair remains trapped between SMA 50 and the pivotal support zones of 38.2% Fibonacci as seen on the provided daily chart. Meanwhile, Stochastic continues to offer a positive sign and that contradicts with the negativity on trend indicators. In result, we remain neutral for the rest of the day. Carefully note that a breakout below 1.5510 will be a very negative indication.
The trading range for today is among key support at 1.5490 and key resistance at 1.5820.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.5650 1.5630 1.5600 1.5585 1.5555
Resistance 1.5700 1.5730 1.5780 1.5820 1.5880
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/JPY
Over daily basis, we notice how the pair has recently drawn a secondary ascending channel supporting the classical pattern on the four-hour interval and we recommend reviewing the weekly report for more details about the pattern. A break above 79.80 will confirm the intraday bullish overview; whilst a breakout above 80.30 will be a very positive indication for short term traders.
The trading range for today is among key support at 78.20 and 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 79.55 79.25 79.00 78.80 78.60
Resistance 79.80 80.00 80.10 80.30 80.50
Recommendation Our weekly expectations remain valid.
USD/CHF
The pair attempted to breach 38.2% correction around 0.9490 but rebounded to the upside once again. The negativity on the Linear Regression Indicators in addition to stability below 23.6% correction at 0.9600 makes us hold onto our negative weekly outlook where stability below 0.9490 will be further confirmation to our expectations.
The trading range for this week is among key support at 0.9320 and key resistance at 0.9770.
The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 remains intact.
Support 0.9520 0.9490 0.9460 0.9405 0.9365
Resistance 0.9550 0.9600 0.9635 0.9700 0.9770
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9550 targeting 0.9490, 0.9405 then 0.9320 and stop loss above 0.9680 might be appropriate this week
USD/CAD
Stability below 1.0200 keeps the negative outlook intact as we said that the pair is forming the CD leg of the suggested harmonic Bat Pattern. The Linear Regression Indicators are negative and RSI is trading freely below 50 points and even as Stochastic trades in oversold areas no reversal signals are seen and accordingly we hold onto our bearish weekly expectations.
The trading range for this week is among key support at 0.9870 and key resistance at 1.0365.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Support 1.0160 1.0120 1.0045 1.0000 0.9970
Resistance 1.0200 1.0290 1.0310 1.0365 1.0420
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 1.0200 targeting 1.0120 then 1.0045 and stop loss above 1.0290 might be appropriate this week
AUD/USD
Over daily basis, we can see the pair rebounded from areas around 1.0220 support which resides near the Linear Regression Indicator 34. This supports our expectations for the upside move to extend this week . The overbought signs on Stochastic will not restrict the upside move as far as areas of 1.0125 remain intact.
The trading range for this week is expected among the key support at 0.9825 and resistance at 1.0480.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0240.
Support 1.0220 1.0185 1.0125 1.0095 1.0025
Resistance 1.0255 1.0310 1.0370 1.0415 1.0480
Recommendation Our weekly expectations remain valid
NZD/USD
On the secondary image we can see the serious attempts at breaching the main harmonic resistance connecting tops A and C of the bullish Bat Pattern. We need confirmation for the breach of this level before defining the intraday direction although we favor the possibility of a confirmed breach and the resumption of the upside move, but for now we prefer to stay aside awaiting the confirmations.
The trading range for this week is expected among the key support at 0.7785 and resistance at 0.8320.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.8015 0.7985 0.7920 0.7885 0.7850
Resistance 0.8080 0.8135 0.8220 0.8265 0.8320
Recommendation Based on the charts and explanations above, we recommend staying aside awaiting further confirmations
