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EUR/USD
After touching our determined technical entry point around 1.2280 zones, the pair has slipped again adopting a favorable reaction to the negativity appearing on Stochastic over daily basis and we recommend reviewing the morning report. Now, bears should await for a breakout below 1.2190 to support their short positions as the negative pressure remains very strong within the weekly downside channel.
The trading range for today is among key support at 1.2040 and key resistance at 1.2500.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2220 1.2170 1.2150 1.2100 1.2080
Resistance 1.2270 1.2300 1.2330 1.2400 1.2425
Recommendation Our morning expectations remain valid.
GBP/USD
The overbought sign we caught this morning continued to prevent the pair from resuming the upside recovery; whilst SMA 200 continued to act as a solid ceiling. Hence, we will be neutral today due to the conflict between the above mentioned technical factors and stability seen above 38.2% Fibonacci level.
Note : Risk versus reward ratio is too high today!
The trading range for today is among key support at 1.5460 and key resistance at 1.5905.
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 1.5555 1.5510
Resistance 1.5730 1.5780 1.5820 1.5880 1.5905
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
The pair proved the bearish tendency during the week’s trading since the beginning until now. Meanwhile, RSI 14 also has moved gradually towards the value of 30.00 warning of a reversal. Thereby, we believe that avoid trading is the best choice ahead of the weekly closing.
The trading range for today is among key support at 77.00 and key resistance now at 80.10.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 78.20 77.95 77.60 77.25 77.00
Resistance 78.80 79.00 79.25 79.80 80.00
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/CHF
Despite the strong upside move, the pair did not confirm the failure of the harmonic Butterfly Pattern. As we can see on the chart above, the resistance level around 0.9825 and trading below 0.9880 keeps the pattern intact. At the same time, we need trading to return below 0.9775 to support the downside wave and therefore we remain neutral for the rest of the day.
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 0.9815 0.9775 0.9750 0.9715 0.9680
Resistance 0.9825 0.9880 0.9900 0.9960 0.9995
Recommendation Based on the charts and explanations above, we recommend staying aside awaiting further confirmations
USD/CAD
The pair is attempting to hold above the Linear Regression Indicator 55 after it settled above the Linear Regression 34; this proves that the pair is preparing for a new upside wave. Therefore, we hold onto our morning expectations as far as trading is above 61.8% correction shown above at 1.0045.
The trading range for today is among key support at 0.9870 and key resistance at 1.0240.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Support 1.0045 1.0000 0.9970 0.9935 0.9870
Resistance 1.0095 1.0125 1.0150 1.0180 1.0200
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.0045 targeting 1.0125 then 1.0200 and stop loss with four-hour closing below 0.9935 might be appropriate
AUD/USD
The pair fluctuated within a tight range above the 61.8% correction shown above at 1.0365. Trading is above the Linear Regression Indicator 34 and 55 which are trading positively. Therefore, we hold onto our morning expectations which require stability above the mentioned level so that momentum indicators do not restrict the upside move.
The trading range for today is expected among the key support at 1.0225 and resistance at 1.0615.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0365 1.0330 1.0285 1.0240 1.0225
Resistance 1.0420 1.0480 1.0530 1.0585 1.0615
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.0365 targeting 1.430 then 1.0530 and stop loss with four-hour closing below 1.0285 might be appropriate
NZD/USD
The Linear Regression Indicator 55 restricted the downside move, and accordingly the return to the upside remains valid. We do not rule out heavy volatility as Stochastic remains biased to the downside. The downside wave remains valid as far as we do not see a breach and stability above 0.7930.
The trading range for today is expected among the key support at 0.7840 and resistance at 0.8160.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.8015 0.7985 0.7930 0.7900 0.7885
Resistance 0.8040 0.8080 0.8135 0.8160 0.8200
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.7985 targeting 0.8040 then 0.8080 and stop loss with four-hour closing below 0.7930 might be appropriate
After touching our determined technical entry point around 1.2280 zones, the pair has slipped again adopting a favorable reaction to the negativity appearing on Stochastic over daily basis and we recommend reviewing the morning report. Now, bears should await for a breakout below 1.2190 to support their short positions as the negative pressure remains very strong within the weekly downside channel.
The trading range for today is among key support at 1.2040 and key resistance at 1.2500.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2220 1.2170 1.2150 1.2100 1.2080
Resistance 1.2270 1.2300 1.2330 1.2400 1.2425
Recommendation Our morning expectations remain valid.
GBP/USD
The overbought sign we caught this morning continued to prevent the pair from resuming the upside recovery; whilst SMA 200 continued to act as a solid ceiling. Hence, we will be neutral today due to the conflict between the above mentioned technical factors and stability seen above 38.2% Fibonacci level.
Note : Risk versus reward ratio is too high today!
The trading range for today is among key support at 1.5460 and key resistance at 1.5905.
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 1.5555 1.5510
Resistance 1.5730 1.5780 1.5820 1.5880 1.5905
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
The pair proved the bearish tendency during the week’s trading since the beginning until now. Meanwhile, RSI 14 also has moved gradually towards the value of 30.00 warning of a reversal. Thereby, we believe that avoid trading is the best choice ahead of the weekly closing.
The trading range for today is among key support at 77.00 and key resistance now at 80.10.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 78.20 77.95 77.60 77.25 77.00
Resistance 78.80 79.00 79.25 79.80 80.00
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/CHF
Despite the strong upside move, the pair did not confirm the failure of the harmonic Butterfly Pattern. As we can see on the chart above, the resistance level around 0.9825 and trading below 0.9880 keeps the pattern intact. At the same time, we need trading to return below 0.9775 to support the downside wave and therefore we remain neutral for the rest of the day.
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 0.9815 0.9775 0.9750 0.9715 0.9680
Resistance 0.9825 0.9880 0.9900 0.9960 0.9995
Recommendation Based on the charts and explanations above, we recommend staying aside awaiting further confirmations
USD/CAD
The pair is attempting to hold above the Linear Regression Indicator 55 after it settled above the Linear Regression 34; this proves that the pair is preparing for a new upside wave. Therefore, we hold onto our morning expectations as far as trading is above 61.8% correction shown above at 1.0045.
The trading range for today is among key support at 0.9870 and key resistance at 1.0240.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Support 1.0045 1.0000 0.9970 0.9935 0.9870
Resistance 1.0095 1.0125 1.0150 1.0180 1.0200
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.0045 targeting 1.0125 then 1.0200 and stop loss with four-hour closing below 0.9935 might be appropriate
AUD/USD
The pair fluctuated within a tight range above the 61.8% correction shown above at 1.0365. Trading is above the Linear Regression Indicator 34 and 55 which are trading positively. Therefore, we hold onto our morning expectations which require stability above the mentioned level so that momentum indicators do not restrict the upside move.
The trading range for today is expected among the key support at 1.0225 and resistance at 1.0615.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0365 1.0330 1.0285 1.0240 1.0225
Resistance 1.0420 1.0480 1.0530 1.0585 1.0615
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.0365 targeting 1.430 then 1.0530 and stop loss with four-hour closing below 1.0285 might be appropriate
NZD/USD
The Linear Regression Indicator 55 restricted the downside move, and accordingly the return to the upside remains valid. We do not rule out heavy volatility as Stochastic remains biased to the downside. The downside wave remains valid as far as we do not see a breach and stability above 0.7930.
The trading range for today is expected among the key support at 0.7840 and resistance at 0.8160.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.8015 0.7985 0.7930 0.7900 0.7885
Resistance 0.8040 0.8080 0.8135 0.8160 0.8200
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.7985 targeting 0.8040 then 0.8080 and stop loss with four-hour closing below 0.7930 might be appropriate
