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EUR/USD
he pair has showed bearish tendencies during the previous session approaching the previous week’s recorded low as seen on the provided graph. We hold onto our bearish classical scenario; noting that a break below 1.2150 will trigger a panic sell-off action over intraday basis.
The trading range for today is among key support at 1.2040 and key resistance at 1.2360.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2170 1.2150 1.2100 1.2080 1.2040
Resistance 1.2200 1.2225 1.2295 1.2330 1.2360
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.2220 targeting 1.2000 and stop loss above 1.2390 might be appropriate this week
GBP/USD
The pair remains trapped between the pivotal resistance areas of 1.5580 and the key support zones of 23.6% 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 1.5390 and key resistance at 1.5730.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.5510 1.5460 1.5420 1.5390 1.5360
Resistance 1.5580 1.5600 1.5630 1.5680 1.5730
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 this week.
USD/JPY
The pair has been trapped within a very tight range since the beginning of the week attempting to stabilize below 79.00 levels as seen on the provided chart. Meanwhile, RSI 14 continued to show bearish tendency below the value of 50.00 suggesting further losses over intraday basis. Eyes should be now on the wide support zones between 78.20 and 77.95.
The trading range for today is among key support at 77.95 and key resistance now at 80.30.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 78.80 78.50 78.20 77.95 77.60
Resistance 79.25 79.55 79.80 80.00 80.10
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 79.25 targeting 78.20 and stop loss above 80.10 might be appropriate this week.
USD/CHF
The pair is trading slightly higher and still close to the critical resistance level at 0.9875. RSI is trading near overbought areas and that might cause the downside reversal as far as the mentioned resistance area remains intact. Therefore, we hold onto our weekly expectations supported by the breach of the main support of the technical formation that is close to a Rising Wedge.
The trading range for this week is among key support at 0.9620 and key resistance at 1.0070.
The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 remains intact.
Support 0.9835 0.9775 0.9750 0.9715 0.9670
Resistance 0.9870 0.9900 0.9960 0.9995 1.0030
Recommendation Our weekly expectations remain valid
USD/CAD
The pair is trading in a very tight trading range above 1.0125 and stability above this level supports new attempts to the upside. Stochastic is still trading with an upside bias that supports our positive expectations while noting that stability above 1.0125 is important for our expectations to remain valid.
The trading range for this week is among key support at 0.9935 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 1.0125 1.0045 1.0000 0.9970 0.9935
Resistance 1.0160 1.0180 1.0200 1.0290 1.0310
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.0125 targeting 1.0200, 1.0265 then 1.0310 and stop loss with four-hour closing below 1.0100 might be appropriate this week
AUD/USD
Trading is biased to the downside yet the Linear Regression Indicators are not affected by that and are still biased positively. The pair is also trading above the ascending support at 1.0120-30 and accordingly we hold onto our weekly expectations awaiting the pair to reach 1.0155 areas to test the strength to this level and its capacity to support the upside momentum.
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 1.0185 1.0135 1.0095 1.0025 1.0000
Resistance 1.0225 1.0255 1.0310 1.0370 1.0415
Recommendation Based on the charts and explanations above, our opinion is buying the pair around 1.0155 targeting 1.0200, 1.0280 then 1.0310 and stop loss below 1.0095 might be appropriate
NZD/USD
The pair is attempting to return within the descending channel but still did not provide confirmations at the time the pair managed to cover the opening gap. The conflict between stability above the main resistance for the downside wave and the downside bias on Stochastic force us to stay aside for the rest of the day awaiting new confirmations.
The trading range for this week is expected among the key support at 0.7765 and resistance at 0.8220.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.7930 0.7885 0.7850 0.7800 0.7765
Resistance 0.7985 0.8035 0.8040 0.8080 0.8135
Recommendation Based on the charts and explanations above, we recommend staying aside awaiting further confirmations
he pair has showed bearish tendencies during the previous session approaching the previous week’s recorded low as seen on the provided graph. We hold onto our bearish classical scenario; noting that a break below 1.2150 will trigger a panic sell-off action over intraday basis.
The trading range for today is among key support at 1.2040 and key resistance at 1.2360.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2170 1.2150 1.2100 1.2080 1.2040
Resistance 1.2200 1.2225 1.2295 1.2330 1.2360
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.2220 targeting 1.2000 and stop loss above 1.2390 might be appropriate this week
GBP/USD
The pair remains trapped between the pivotal resistance areas of 1.5580 and the key support zones of 23.6% 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 1.5390 and key resistance at 1.5730.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.5510 1.5460 1.5420 1.5390 1.5360
Resistance 1.5580 1.5600 1.5630 1.5680 1.5730
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 this week.
USD/JPY
The pair has been trapped within a very tight range since the beginning of the week attempting to stabilize below 79.00 levels as seen on the provided chart. Meanwhile, RSI 14 continued to show bearish tendency below the value of 50.00 suggesting further losses over intraday basis. Eyes should be now on the wide support zones between 78.20 and 77.95.
The trading range for today is among key support at 77.95 and key resistance now at 80.30.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 78.80 78.50 78.20 77.95 77.60
Resistance 79.25 79.55 79.80 80.00 80.10
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 79.25 targeting 78.20 and stop loss above 80.10 might be appropriate this week.
USD/CHF
The pair is trading slightly higher and still close to the critical resistance level at 0.9875. RSI is trading near overbought areas and that might cause the downside reversal as far as the mentioned resistance area remains intact. Therefore, we hold onto our weekly expectations supported by the breach of the main support of the technical formation that is close to a Rising Wedge.
The trading range for this week is among key support at 0.9620 and key resistance at 1.0070.
The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 remains intact.
Support 0.9835 0.9775 0.9750 0.9715 0.9670
Resistance 0.9870 0.9900 0.9960 0.9995 1.0030
Recommendation Our weekly expectations remain valid
USD/CAD
The pair is trading in a very tight trading range above 1.0125 and stability above this level supports new attempts to the upside. Stochastic is still trading with an upside bias that supports our positive expectations while noting that stability above 1.0125 is important for our expectations to remain valid.
The trading range for this week is among key support at 0.9935 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 1.0125 1.0045 1.0000 0.9970 0.9935
Resistance 1.0160 1.0180 1.0200 1.0290 1.0310
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.0125 targeting 1.0200, 1.0265 then 1.0310 and stop loss with four-hour closing below 1.0100 might be appropriate this week
AUD/USD
Trading is biased to the downside yet the Linear Regression Indicators are not affected by that and are still biased positively. The pair is also trading above the ascending support at 1.0120-30 and accordingly we hold onto our weekly expectations awaiting the pair to reach 1.0155 areas to test the strength to this level and its capacity to support the upside momentum.
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 1.0185 1.0135 1.0095 1.0025 1.0000
Resistance 1.0225 1.0255 1.0310 1.0370 1.0415
Recommendation Based on the charts and explanations above, our opinion is buying the pair around 1.0155 targeting 1.0200, 1.0280 then 1.0310 and stop loss below 1.0095 might be appropriate
NZD/USD
The pair is attempting to return within the descending channel but still did not provide confirmations at the time the pair managed to cover the opening gap. The conflict between stability above the main resistance for the downside wave and the downside bias on Stochastic force us to stay aside for the rest of the day awaiting new confirmations.
The trading range for this week is expected among the key support at 0.7765 and resistance at 0.8220.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.7930 0.7885 0.7850 0.7800 0.7765
Resistance 0.7985 0.8035 0.8040 0.8080 0.8135
Recommendation Based on the charts and explanations above, we recommend staying aside awaiting further confirmations
