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EUR/USD
The pair is printing new lows, heading towards 1.2150 next target. In general, the bearish bias is strong and expected to remain dominant, thus we hold onto our bearish scenario.
The trading range for today is expected among key support at 1.2150 and key resistance at 1.2400.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2175 1.2140 1.2100 1.2070 1.2040
Resistance 1.2225 1.2250 1.2295 1.2330 1.2365
Recommendation Based on the charts and explanations above, we recommend selling the pair around 1.2230 targeting 1.2150 and 1.2100. Stop loss above 1.2300
GBP/USD
The pair is attempting to break the neckline of the bearish double top pattern one more time, a daily closing below this level at 1.5480 will confirm the awaited breakout. Thus we hold onto our bearish expectations.
The trading range for today is expected among key support at 1.5400 and key resistance at 1.5625.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.5450 1.5400 1.5330 1.5300 1.5250
Resistance 1.5480 1.5550 1.5575 1.5620 1.5650
Recommendation Based on the charts and explanations above, we recommend selling the pair around 1.5500 targeting 1.5400 and 1.5330. Stop loss above 1.5575
USD/JPY
The pair continues to push to the downside approaching the bottom of the range above 79.10, we may see an extension of the downside wave as strong bearish momentum is seen. Thus, we prefer to monitor price action at 79.00 area for now and negate our morning suggestion.
The trading range for today is expected among key support at 78.50 and key resistance now at 80.60.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 79.10 78.65 78.50 78.00 77.65
Resistance 79.80 80.10 80.60 81.00 81.25
Recommendation Based on the charts and explanations above, we recommend staying aside awaiting further confirmations
USD/CHF
Despite the upside bias seen for the pair, we can see that it is starting to weaken, and we can see the pair forming a Rising Wedge which is a negative pattern. The Linear Regression Indicator 34 crossed over negatively with 55 and RSI is trading in overbought areas and we believe the pair is preparing to start a downside correctional wave. The downside correction is likely with stability below 0.9780 with four-hour closing.
The trading range for today is among key support at 0.9600 and key resistance at 0.9960.
The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 remains intact.
Support 0.9800 0.9780 0.9750 0.9730 0.9700
Resistance 0.9835 0.9870 0.9900 0.9960 0.9995
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9835 targeting 0.9770 then 0.9730 and stop loss with four-hour closing above 0.9870 might be appropriate
USD/CAD
The pair moved to the upside reaching 1.0240 areas which failed the downside correction expectations mentioned in the previous report. This pushed the Linear Regression Indicator 34 to positive again. Momentum indicators turned higher again and that might extend the upside move for the rest of the day. The risk to reward ratio is now high and according we prefer to stay aside for the rest of the session.
The trading range for today is among key support at 0.9935 and key resistance at 1.0290.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Support 1.0200 1.0180 1.0125 1.0100 1.0045
Resistance 1.0240 1.0290 1.0310 1.0350 1.0375
Recommendation After the pair hit the stop-loss we prefer to stay aside
AUD/USD
The pair declined and reached the first and second targets for today. Currently, we are waiting for the pair to reach 38.2% correction which is the third target at 1.0065. Stability below 1.0153 shown above formed a Double Top pattern and that might extend the downside move. The Linear Regression Indicators are negative and Momentum indicators are moving lower supporting our expectations.
The trading range for today is expected among the key support at 1.0025 and resistance at 1.0310.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0095 1.0065 1.0025 1.0000 0.9970
Resistance 1.0125 1.0150 1.0180 1.0200 1.0225
Recommendation Our morning expectations remain valid
NZD/USD
The pair is approaching the targets of the downside move which is likely to continue with stability below 23.6% correction shown above at 0.7930. The Linear Regression Indicators are negative and that supports our bearish expectations.
The trading range for today is expected among the key support at 0.7705 and resistance at 0.8135.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.7840 0.7800 0.7765 0.7705 0.7675
Resistance 0.7885 0.7900 0.7930 0.7985 0.8015
Recommendation Our morning expectations remain valid
The pair is printing new lows, heading towards 1.2150 next target. In general, the bearish bias is strong and expected to remain dominant, thus we hold onto our bearish scenario.
The trading range for today is expected among key support at 1.2150 and key resistance at 1.2400.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2175 1.2140 1.2100 1.2070 1.2040
Resistance 1.2225 1.2250 1.2295 1.2330 1.2365
Recommendation Based on the charts and explanations above, we recommend selling the pair around 1.2230 targeting 1.2150 and 1.2100. Stop loss above 1.2300
GBP/USD
The pair is attempting to break the neckline of the bearish double top pattern one more time, a daily closing below this level at 1.5480 will confirm the awaited breakout. Thus we hold onto our bearish expectations.
The trading range for today is expected among key support at 1.5400 and key resistance at 1.5625.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.5450 1.5400 1.5330 1.5300 1.5250
Resistance 1.5480 1.5550 1.5575 1.5620 1.5650
Recommendation Based on the charts and explanations above, we recommend selling the pair around 1.5500 targeting 1.5400 and 1.5330. Stop loss above 1.5575
USD/JPY
The pair continues to push to the downside approaching the bottom of the range above 79.10, we may see an extension of the downside wave as strong bearish momentum is seen. Thus, we prefer to monitor price action at 79.00 area for now and negate our morning suggestion.
The trading range for today is expected among key support at 78.50 and key resistance now at 80.60.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 79.10 78.65 78.50 78.00 77.65
Resistance 79.80 80.10 80.60 81.00 81.25
Recommendation Based on the charts and explanations above, we recommend staying aside awaiting further confirmations
USD/CHF
Despite the upside bias seen for the pair, we can see that it is starting to weaken, and we can see the pair forming a Rising Wedge which is a negative pattern. The Linear Regression Indicator 34 crossed over negatively with 55 and RSI is trading in overbought areas and we believe the pair is preparing to start a downside correctional wave. The downside correction is likely with stability below 0.9780 with four-hour closing.
The trading range for today is among key support at 0.9600 and key resistance at 0.9960.
The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 remains intact.
Support 0.9800 0.9780 0.9750 0.9730 0.9700
Resistance 0.9835 0.9870 0.9900 0.9960 0.9995
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9835 targeting 0.9770 then 0.9730 and stop loss with four-hour closing above 0.9870 might be appropriate
USD/CAD
The pair moved to the upside reaching 1.0240 areas which failed the downside correction expectations mentioned in the previous report. This pushed the Linear Regression Indicator 34 to positive again. Momentum indicators turned higher again and that might extend the upside move for the rest of the day. The risk to reward ratio is now high and according we prefer to stay aside for the rest of the session.
The trading range for today is among key support at 0.9935 and key resistance at 1.0290.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Support 1.0200 1.0180 1.0125 1.0100 1.0045
Resistance 1.0240 1.0290 1.0310 1.0350 1.0375
Recommendation After the pair hit the stop-loss we prefer to stay aside
AUD/USD
The pair declined and reached the first and second targets for today. Currently, we are waiting for the pair to reach 38.2% correction which is the third target at 1.0065. Stability below 1.0153 shown above formed a Double Top pattern and that might extend the downside move. The Linear Regression Indicators are negative and Momentum indicators are moving lower supporting our expectations.
The trading range for today is expected among the key support at 1.0025 and resistance at 1.0310.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0095 1.0065 1.0025 1.0000 0.9970
Resistance 1.0125 1.0150 1.0180 1.0200 1.0225
Recommendation Our morning expectations remain valid
NZD/USD
The pair is approaching the targets of the downside move which is likely to continue with stability below 23.6% correction shown above at 0.7930. The Linear Regression Indicators are negative and that supports our bearish expectations.
The trading range for today is expected among the key support at 0.7705 and resistance at 0.8135.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.7840 0.7800 0.7765 0.7705 0.7675
Resistance 0.7885 0.7900 0.7930 0.7985 0.8015
Recommendation Our morning expectations remain valid
