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EUR/USD
The pair continued to move lower during the previous session following the retest process which we discussed this morning. We should be patient until the pair clears the pivotal support of 1.2170 seen on the provided chart to make sure that the main descending channel is still accurate. In result, the neutrality remains favored.
The trading range for today is among key support at 1.2080 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 1.2330 1.2360 1.2400 1.2425 1.2500
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.
GBP/USD
The previous hinted solid support of 1.5740 continued to send the pair to the downside during the previous session as seen on the provided daily graph. The contrarian between the coverage from moving averages and the bullish sign on Stochastic forces us to hold onto our neutrality over intraday basis; noting that a break below 1.5660 may change the direction of the recent recovery that started at 1.5460.
The trading range for today is among key support at 1.5470 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 1.5660 1.5630 1.5585 1.5510 1.5420
Resistance 1.5780 1.5820 1.5880 1.5905.00 1.5975
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 moved mildly towards the suggested entry point at 78.20 as seen on the provided daily graph. Hence, ourweekly scenario was activated and a break above 78.50 will confirm and accelerate the awaited upside wave. On the downside, the risk limit between 77.60 and 77.40 should protect bulls.
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 76.80 76.50
Resistance 78.50 78.80 79.00 79.25 79.55
Recommendation Our weekly expectations remain valid.
USD/CHF
The pair is moving to the upside and trading above 38.2% correction of CD leg of the bearish butterfly pattern. The pair is facing 0.9850-60 areas and they might force the pair to return to the downside. Therefore, we hold onto our weekly expectations as they are.
The trading range for this week is among key support at 0.9570 and key resistance at 1.0070.
The general trend over short term basis is to the upside targeting 1.0420 as far as areas of 0.9400 remains intact.
Support 0.9780 0.9750 0.9715 0.9670 0.9620
Resistance 0.9835 0.9850 0.9900 0.9950 0.9995
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9835 targeting 0.9715, 0.9655 then 0.9570 and stop loss with daily closing above 1.0030 might be appropriate this week
USD/CAD
The pair is still trading in critical areas between the main support of the descending channel from below and 1.0045 from above. Stochastic is trading in overbought areas and that is supportive of the weekly overview. Our weekly expectations require support by stability above 61.8% correction shown above.
The trading range for this week is among key support at 0.9800 and key resistance at 1.0200.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Weekly Report
Support 1.0000 0.9970 0.9935 0.9870 0.9800
Resistance 1.0045 1.0095 1.0125 1.0160 1.0180
Recommendation Our weekly expectations remain valid
AUD/USD
The pair rushed to the upside and that supported the Linear Regression Indicator 34 which is approaching the minor resistance shown above in pink. The Ascending channel is helping carry the pair to the upside and in the coming period trading above 1.0380 will keep the upside wave valid.
The trading range for this week is expected among the key support at 1.0185 and resistance at 1.0585.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0415 1.0380 1.0310 1.0255 1.0220
Resistance 1.0480 1.0530 1.0585 1.0615 1.0660
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.0380 targeting 1.0515 then 1.0585 and stop loss below 1.0255 might be appropriate this week
NZD/USD
The upside momentum is ongoing and that is seen as the Linear Regression Indicator 34 is approaching the pair to form a closer support. The positivity continues on MACD and the breach of the formation shown in pink above supports the extension of the upside move. Stability above 0.7930 is required for our positive expectations to remain valid.
The trading range for this week is expected among the key support at 0.7885 and resistance at 0.8430.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.8080 0.8040 0.7985 0.7930 0.7885
Resistance 0.8135 0.8160 0.8220 0.8320 0.8430
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.8040 targeting 0.8135 then 0.8220 and stop loss with four-hour closing below 0.7930 might be appropriate this week
The pair continued to move lower during the previous session following the retest process which we discussed this morning. We should be patient until the pair clears the pivotal support of 1.2170 seen on the provided chart to make sure that the main descending channel is still accurate. In result, the neutrality remains favored.
The trading range for today is among key support at 1.2080 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 1.2330 1.2360 1.2400 1.2425 1.2500
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.
GBP/USD
The previous hinted solid support of 1.5740 continued to send the pair to the downside during the previous session as seen on the provided daily graph. The contrarian between the coverage from moving averages and the bullish sign on Stochastic forces us to hold onto our neutrality over intraday basis; noting that a break below 1.5660 may change the direction of the recent recovery that started at 1.5460.
The trading range for today is among key support at 1.5470 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 1.5660 1.5630 1.5585 1.5510 1.5420
Resistance 1.5780 1.5820 1.5880 1.5905.00 1.5975
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 moved mildly towards the suggested entry point at 78.20 as seen on the provided daily graph. Hence, ourweekly scenario was activated and a break above 78.50 will confirm and accelerate the awaited upside wave. On the downside, the risk limit between 77.60 and 77.40 should protect bulls.
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 76.80 76.50
Resistance 78.50 78.80 79.00 79.25 79.55
Recommendation Our weekly expectations remain valid.
USD/CHF
The pair is moving to the upside and trading above 38.2% correction of CD leg of the bearish butterfly pattern. The pair is facing 0.9850-60 areas and they might force the pair to return to the downside. Therefore, we hold onto our weekly expectations as they are.
The trading range for this week is among key support at 0.9570 and key resistance at 1.0070.
The general trend over short term basis is to the upside targeting 1.0420 as far as areas of 0.9400 remains intact.
Support 0.9780 0.9750 0.9715 0.9670 0.9620
Resistance 0.9835 0.9850 0.9900 0.9950 0.9995
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9835 targeting 0.9715, 0.9655 then 0.9570 and stop loss with daily closing above 1.0030 might be appropriate this week
USD/CAD
The pair is still trading in critical areas between the main support of the descending channel from below and 1.0045 from above. Stochastic is trading in overbought areas and that is supportive of the weekly overview. Our weekly expectations require support by stability above 61.8% correction shown above.
The trading range for this week is among key support at 0.9800 and key resistance at 1.0200.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Weekly Report
Support 1.0000 0.9970 0.9935 0.9870 0.9800
Resistance 1.0045 1.0095 1.0125 1.0160 1.0180
Recommendation Our weekly expectations remain valid
AUD/USD
The pair rushed to the upside and that supported the Linear Regression Indicator 34 which is approaching the minor resistance shown above in pink. The Ascending channel is helping carry the pair to the upside and in the coming period trading above 1.0380 will keep the upside wave valid.
The trading range for this week is expected among the key support at 1.0185 and resistance at 1.0585.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0415 1.0380 1.0310 1.0255 1.0220
Resistance 1.0480 1.0530 1.0585 1.0615 1.0660
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.0380 targeting 1.0515 then 1.0585 and stop loss below 1.0255 might be appropriate this week
NZD/USD
The upside momentum is ongoing and that is seen as the Linear Regression Indicator 34 is approaching the pair to form a closer support. The positivity continues on MACD and the breach of the formation shown in pink above supports the extension of the upside move. Stability above 0.7930 is required for our positive expectations to remain valid.
The trading range for this week is expected among the key support at 0.7885 and resistance at 0.8430.
The short term trend is to the downside targeting 0.7365 with steady daily closing below 0.8100.
Support 0.8080 0.8040 0.7985 0.7930 0.7885
Resistance 0.8135 0.8160 0.8220 0.8320 0.8430
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.8040 targeting 0.8135 then 0.8220 and stop loss with four-hour closing below 0.7930 might be appropriate this week
