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EUR/USD
The pair has showed bearish tendencies during the previous session despite being trapped within a tight range. Anyway, we hold onto our bearish classical scenario; noting that a break below 1.2080 will trigger a panic sell-off action over intraday basis towards the psychological level of 1.2000 followed by 1.1935 while our major soft technical objective of the head and shoulders pattern resides at 1.1865.
The trading range for today is among key support at 1.1935 and key resistance at 1.2295.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2080 1.2040 1.2000 1.1975 1.1935
Resistance 1.2150 1.2170 1.2200 1.2220 1.2295
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.2155 targeting 1.1865 and stop loss above 1.2330 might be appropriate this week
GBP/USD
The pair has moved steadily to the downside approaching the key support level of 1.5510 while Stochastic remains negative. The strong bearish momentum seen on the graph may assist the pair to take the aforesaid support over intraday basis. On the upside, 1.5780 should be the ceiling for bears.
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 1.5555 1.5585 1.5630 1.5680 1.5730
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.5600 targeting 1.5360 and stop loss above 1.5785 might be appropriate.
USD/JPY
The pair continued to hover around the sensitive areas of 77.95 where 76.4% Fibonacci retracement of the upside wave from 76.00 to 84.15. Meanwhile, RSI 14 approaches oversold areas and thus, we remain neutral for the rest of the day.
The trading range for today is among key support at 77.30 and key resistance now at 79.25.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 77.95 77.60 77.25 77.00 76.80
Resistance 78.50 78.80 79.00 79.25 79.55
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
We can see trading still below 61.8% correction shown above and that confirms our intraday downside outlook for the start of the week . Stability below 0.9950 is a reason for us to see the downside correction and Stochastic over weekly basis is trading in overbought area that supports the correction.
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 1.0735 as far as areas of 0.9400 remains intact.
Support 0.9900 0.9870 0.9835 0.9800 0.9775
Resistance 0.9950 0.9995 1.0030 1.0070 1.0100
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9950 targeting 0.9870, 0.9835 then 0.9775 and stop loss with a daily closing above 1.0030 might be appropriate this week
USD/CAD
The pair hit the minor resistance shown above, accompanied by overbought signs on Stochastic and that is enough for a downside correction. At the same time, the Linear Regression Indicators are positive and the pair is stable above 1.0125 and therefore we hold onto our weekly expectations.
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 0.9930
Resistance 1.0180 1.0200 1.0290 1.0310 1.0365
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
The pair resumes the downside move as seen on the chart but remains stable above 1.0220 and Stochastic is trading in oversold areas and attempting to crossover positively. We hold onto our weekly expectations as far as the pair is stable above the mentioned level.
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 1.0710.
Support 1.0255 1.0220 1.0185 1.0135 1.0095
Resistance 1.0310 1.0370 1.0415 1.0480 1.0530
Recommendation Our weekly expectations remain valid
NZD/USD
Breaching 0.7930 and stability below it might extend the downside move in the coming period and drive the pair to test 0.7862 areas then 0.7840. The Linear Regression Indicators are negative and that supports our weekly expectations that remain valid.
The trading range for this week is expected among the key support at 0.7670 and resistance at 0.8220.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.7885 0.7840 0.7800 0.7765 0.7705
Resistance 0.7930 0.7985 0.8015 0.8035 0.8080
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.7930 targeting 0.7840 and 0.7765 and stop loss with four-hour closing above 0.8015 might be appropriate this week
The pair has showed bearish tendencies during the previous session despite being trapped within a tight range. Anyway, we hold onto our bearish classical scenario; noting that a break below 1.2080 will trigger a panic sell-off action over intraday basis towards the psychological level of 1.2000 followed by 1.1935 while our major soft technical objective of the head and shoulders pattern resides at 1.1865.
The trading range for today is among key support at 1.1935 and key resistance at 1.2295.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2080 1.2040 1.2000 1.1975 1.1935
Resistance 1.2150 1.2170 1.2200 1.2220 1.2295
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.2155 targeting 1.1865 and stop loss above 1.2330 might be appropriate this week
GBP/USD
The pair has moved steadily to the downside approaching the key support level of 1.5510 while Stochastic remains negative. The strong bearish momentum seen on the graph may assist the pair to take the aforesaid support over intraday basis. On the upside, 1.5780 should be the ceiling for bears.
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 1.5555 1.5585 1.5630 1.5680 1.5730
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.5600 targeting 1.5360 and stop loss above 1.5785 might be appropriate.
USD/JPY
The pair continued to hover around the sensitive areas of 77.95 where 76.4% Fibonacci retracement of the upside wave from 76.00 to 84.15. Meanwhile, RSI 14 approaches oversold areas and thus, we remain neutral for the rest of the day.
The trading range for today is among key support at 77.30 and key resistance now at 79.25.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 77.95 77.60 77.25 77.00 76.80
Resistance 78.50 78.80 79.00 79.25 79.55
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
We can see trading still below 61.8% correction shown above and that confirms our intraday downside outlook for the start of the week . Stability below 0.9950 is a reason for us to see the downside correction and Stochastic over weekly basis is trading in overbought area that supports the correction.
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 1.0735 as far as areas of 0.9400 remains intact.
Support 0.9900 0.9870 0.9835 0.9800 0.9775
Resistance 0.9950 0.9995 1.0030 1.0070 1.0100
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9950 targeting 0.9870, 0.9835 then 0.9775 and stop loss with a daily closing above 1.0030 might be appropriate this week
USD/CAD
The pair hit the minor resistance shown above, accompanied by overbought signs on Stochastic and that is enough for a downside correction. At the same time, the Linear Regression Indicators are positive and the pair is stable above 1.0125 and therefore we hold onto our weekly expectations.
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 0.9930
Resistance 1.0180 1.0200 1.0290 1.0310 1.0365
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
The pair resumes the downside move as seen on the chart but remains stable above 1.0220 and Stochastic is trading in oversold areas and attempting to crossover positively. We hold onto our weekly expectations as far as the pair is stable above the mentioned level.
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 1.0710.
Support 1.0255 1.0220 1.0185 1.0135 1.0095
Resistance 1.0310 1.0370 1.0415 1.0480 1.0530
Recommendation Our weekly expectations remain valid
NZD/USD
Breaching 0.7930 and stability below it might extend the downside move in the coming period and drive the pair to test 0.7862 areas then 0.7840. The Linear Regression Indicators are negative and that supports our weekly expectations that remain valid.
The trading range for this week is expected among the key support at 0.7670 and resistance at 0.8220.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.7885 0.7840 0.7800 0.7765 0.7705
Resistance 0.7930 0.7985 0.8015 0.8035 0.8080
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.7930 targeting 0.7840 and 0.7765 and stop loss with four-hour closing above 0.8015 might be appropriate this week
