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EUR/USD
The pair continued to consolidate above the previous broken upper line of the descending channel as seen on the provided daily chart. A break above 1.2430-1.2440 zone will activate the possible bullish pattern hinted earlier; whilst Stochastic remains positive and that may weaken the resistance areas later.
The trading range for today is among key support at 1.2170 and key resistance at 1.2550.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2360 1.2315 1.2280 1.2255 1.2220
Resistance 1.2425 1.2460 1.2500 1.2525 1.2550
Recommendation Based on the charts and explanations above our opinion is, buying the pair above 1.2440 targeting 1.2700 and stop loss below 1.2250 might be appropriate.
GBP/USD
The pair has found some kind of support around the pivotal point of 1.5585 which pushed it mildly higher during the previous session supported by Stochastic. However, MACD remains neutral and we also will be neutral until an actionable setup above or below the edges of the sideways range presents itself over upcoming hours.
The trading range for today is among key support at 1.5360 and key resistance at 1.5820.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.5600 1.5580 1.5555 1.5510 1.5490
Resistance 1.5630 1.5680 1.5730 1.5780 1.5820
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 didn’t show any considerable price action since morning and thus, we will not add anything new in our midday report. We recommend reviewing the morning report for more details about the technical factors that may support bulls over intraday basis.
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 77.30 77.00 76.80
Resistance 78.50 78.80 79.00 79.25 79.55
Recommendation Our morning expectations remain valid.
USD/CHF
The negative bias is ongoing and this is ideal amid trading below the main ascending support and the continued effect of different negative patterns shown above. Therefore, we hold onto our morning expectations and note that the breach of 0.9655 is required to extend the downside move.
The trading range for today is among key support at 0.9460 and key resistance at 0.9850.
The general trend over short term basis is to the upside targeting 1.0420 as far as areas of 0.9400 remains intact.
Support 0.9655 0.9610 0.9570 0.9550 0.9520
Resistance 0.9700 0.9720 0.9775 0.9800 0.9835
Recommendation Our morning expectations remain valid.
USD/CAD
The pair is declining gradually and approaching the main support for the downside wave and 78.6% correction. There are no confirmations that the mentioned level will be able to halt the downside move as momentum indicators are biased negatively. We prefer to stay aside for today awaiting more confirmations.
The trading range for today is among key support at 0.9825 and key resistance at 1.0150.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Support 0.9970 0.9935 0.9900 0.9870 0.9825
Resistance 1.0010 1.0045 1.0095 1.0125 1.0150
Recommendation Based on the charts and explanations above, we remain neutral for the week awaiting more confirmations for the next move.
AUD/USD
We finally have a four-hour closing above 1.0585 and that increases the possibility for the upside wave to extend. Stability above this level makes us hold onto our morning expectations taking into consideration that stability of 1.0475 supports our positive outlook.
The trading range for today is expected among the key support at 1.0440 and resistance at 1.0710.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0585 1.0560 1.0510 1.0475 1.0440
Resistance 1.0615 1.0655 1.0710 1.0765 1.0865
Recommendation Based on the charts and explanations above, our opinion is buying the pair around 1.0585 targeting 1.0655 and 1.0710 stop loss with four-hour closing below 1.0510 might be appropriate.
NZD/USD
The positive bias remains evident with trading above the main ascending support shown above. This makes us hold onto our positive expectations . The Linear Regression Indicators are positive and protecting the pair from the overbought signs on momentum indicators.
The trading range for today is expected among the key support at 0.8015 and resistance at 0.8400.
The short term trend is to the upside targeting 0.8400 with steady daily closing above 0.7930.
Support 0.8200 0.8170 0.8135 0.8100 0.8080
Resistance 0.8220 0.8255 0.8265 0.8320 0.8355
Recommendation Our morning expectations remain valid.
The pair continued to consolidate above the previous broken upper line of the descending channel as seen on the provided daily chart. A break above 1.2430-1.2440 zone will activate the possible bullish pattern hinted earlier; whilst Stochastic remains positive and that may weaken the resistance areas later.
The trading range for today is among key support at 1.2170 and key resistance at 1.2550.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2360 1.2315 1.2280 1.2255 1.2220
Resistance 1.2425 1.2460 1.2500 1.2525 1.2550
Recommendation Based on the charts and explanations above our opinion is, buying the pair above 1.2440 targeting 1.2700 and stop loss below 1.2250 might be appropriate.
GBP/USD
The pair has found some kind of support around the pivotal point of 1.5585 which pushed it mildly higher during the previous session supported by Stochastic. However, MACD remains neutral and we also will be neutral until an actionable setup above or below the edges of the sideways range presents itself over upcoming hours.
The trading range for today is among key support at 1.5360 and key resistance at 1.5820.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.5600 1.5580 1.5555 1.5510 1.5490
Resistance 1.5630 1.5680 1.5730 1.5780 1.5820
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 didn’t show any considerable price action since morning and thus, we will not add anything new in our midday report. We recommend reviewing the morning report for more details about the technical factors that may support bulls over intraday basis.
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 77.30 77.00 76.80
Resistance 78.50 78.80 79.00 79.25 79.55
Recommendation Our morning expectations remain valid.
USD/CHF
The negative bias is ongoing and this is ideal amid trading below the main ascending support and the continued effect of different negative patterns shown above. Therefore, we hold onto our morning expectations and note that the breach of 0.9655 is required to extend the downside move.
The trading range for today is among key support at 0.9460 and key resistance at 0.9850.
The general trend over short term basis is to the upside targeting 1.0420 as far as areas of 0.9400 remains intact.
Support 0.9655 0.9610 0.9570 0.9550 0.9520
Resistance 0.9700 0.9720 0.9775 0.9800 0.9835
Recommendation Our morning expectations remain valid.
USD/CAD
The pair is declining gradually and approaching the main support for the downside wave and 78.6% correction. There are no confirmations that the mentioned level will be able to halt the downside move as momentum indicators are biased negatively. We prefer to stay aside for today awaiting more confirmations.
The trading range for today is among key support at 0.9825 and key resistance at 1.0150.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Support 0.9970 0.9935 0.9900 0.9870 0.9825
Resistance 1.0010 1.0045 1.0095 1.0125 1.0150
Recommendation Based on the charts and explanations above, we remain neutral for the week awaiting more confirmations for the next move.
AUD/USD
We finally have a four-hour closing above 1.0585 and that increases the possibility for the upside wave to extend. Stability above this level makes us hold onto our morning expectations taking into consideration that stability of 1.0475 supports our positive outlook.
The trading range for today is expected among the key support at 1.0440 and resistance at 1.0710.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0585 1.0560 1.0510 1.0475 1.0440
Resistance 1.0615 1.0655 1.0710 1.0765 1.0865
Recommendation Based on the charts and explanations above, our opinion is buying the pair around 1.0585 targeting 1.0655 and 1.0710 stop loss with four-hour closing below 1.0510 might be appropriate.
NZD/USD
The positive bias remains evident with trading above the main ascending support shown above. This makes us hold onto our positive expectations . The Linear Regression Indicators are positive and protecting the pair from the overbought signs on momentum indicators.
The trading range for today is expected among the key support at 0.8015 and resistance at 0.8400.
The short term trend is to the upside targeting 0.8400 with steady daily closing above 0.7930.
Support 0.8200 0.8170 0.8135 0.8100 0.8080
Resistance 0.8220 0.8255 0.8265 0.8320 0.8355
Recommendation Our morning expectations remain valid.
