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EUR/USD
The pair moved to the downside during the Asian session but it rebounded again to hover around SMA 20. Despite the negativity on MACD and Stochastic but we can’t suggest further bearishness until the pair breaches through 1.2180 as we discussed this morning. On the upside, penetrating 1.2360 may provide the pair with bullish momentum. To recap, we remain neutral for the rest of the day.
The trading range for today is among key support at 1.2080 and key resistance at 1.2460.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2240 1.2220 1.2200 1.2170 1.2100
Resistance 1.2315 1.2360 1.2400 1.2425 1.2460
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.
GBP/USD
Cable has bounced off SMA 50 as seen on the provided daily chart but Stochastic is still negative. We will continue relying on SMA 200 along with the wide resistance areas between 1.5740 and 1.5780 to suggest a bearish wave. Ultimately, a clear breakout below 1.5630 will assure the awaited direction.
The trading range for today is among key support at 1.5420 and key resistance at 1.5850.
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 1.5580 1.5555
Resistance 1.5730 1.5750 1.5780 1.5820 1.5845
Recommendation Our morning expectations remain valid.
USD/JPY
Following the continuous sharp inclines, the pair started to show signs of calmness and that was expected-check the morning report- actually, the positive signs on MACD and RSI 14 are strong enough to assist the pair to resume the upside wave. A sustained breakout above 79.55 followed by SMA 100 at 79.75 will confirm and accelerate the reversal started at 76.4% Fibonacci level.
The trading range for today is among key support at 78.20 and key resistance now at 80.50.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 79.00 78.80 78.50 78.20 78.00
Resistance 79.55 79.80 80.10 80.30 80.50
Recommendation Based on the charts and explanations above our opinion is, buying the pair around 79.00 targeting 80.50 and stop loss below 78.00 might be appropriate.
USD/CHF
Thin trading is seen, yet the pair is incapable of breaching the main descending resistance for the downside wave that started from 0.9971, and the pair failed in holding above the main ascending support shown in blue. Therefore, we hold onto our morning expectations as they are.
The trading range for today is among key support at 0.9570 and key resistance at 0.9950.
The general trend over short term basis is to the upside targeting 1.0420 as far as areas of 0.9400 remains intact.
Support 0.9720 0.9700 0.9655 0.9610 0.9570
Resistance 0.9775 0.9800 0.9835 0.9880 0.9900
Recommendation Our morning expectations remain valid
USD/CAD
The pair is gradually approaching the 88.6% correction shown above and that is accompanied by stability below the support of the main downside wave which keeps the bearishness likely. At the same time, we can’t confirm the extension of the downside move without breaching 0.9870 and therefore we prefer to remain neutral for the rest of the day.
The trading range for today is among key support at 0.9750 and key resistance at 1.0125.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Support 0.9870 0.9825 0.9800 0.9750 0.9715
Resistance 0.9935 0.9970 1.0000 1.0045 1.0095
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
AUD/USD
The pair is eying the resistance (previously breached support) at 1.0510 and the pair needs to hold above it to extend the upside move and rule out further downside correction. For the rest o the day, we expect that 1.0440 is a positive barrier and stability above it keeps our morning expectations valid.
The trading range for today is expected among the key support at 1.0380 and resistance at 1.0615.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0475 1.0440 1.0400 1.0380 1.0330
Resistance 1.0510 1.0560 1.0585 1.0615 1.0655
Recommendation Our morning expectations remain valid
NZD/USD
We can see that the upside bias is clearer today and Stochastic is trading in oversold areas and helping the pair trade positively. Nevertheless, the pair did not stabilize above 0.8080 and accordingly we remain neutral today until we have more confirmations.
The trading range for today is expected among the key support at 0.7960 and resistance at 0.8255.
The short term trend is to the upside targeting 0.8400 with steady daily closing above 0.7930.
Support 0.8040 0.8015 0.7985 0.7960 0.7930
Resistance 0.8080 0.8100 0.8135 0.8170 0.8200
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
The pair moved to the downside during the Asian session but it rebounded again to hover around SMA 20. Despite the negativity on MACD and Stochastic but we can’t suggest further bearishness until the pair breaches through 1.2180 as we discussed this morning. On the upside, penetrating 1.2360 may provide the pair with bullish momentum. To recap, we remain neutral for the rest of the day.
The trading range for today is among key support at 1.2080 and key resistance at 1.2460.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2240 1.2220 1.2200 1.2170 1.2100
Resistance 1.2315 1.2360 1.2400 1.2425 1.2460
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.
GBP/USD
Cable has bounced off SMA 50 as seen on the provided daily chart but Stochastic is still negative. We will continue relying on SMA 200 along with the wide resistance areas between 1.5740 and 1.5780 to suggest a bearish wave. Ultimately, a clear breakout below 1.5630 will assure the awaited direction.
The trading range for today is among key support at 1.5420 and key resistance at 1.5850.
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 1.5580 1.5555
Resistance 1.5730 1.5750 1.5780 1.5820 1.5845
Recommendation Our morning expectations remain valid.
USD/JPY
Following the continuous sharp inclines, the pair started to show signs of calmness and that was expected-check the morning report- actually, the positive signs on MACD and RSI 14 are strong enough to assist the pair to resume the upside wave. A sustained breakout above 79.55 followed by SMA 100 at 79.75 will confirm and accelerate the reversal started at 76.4% Fibonacci level.
The trading range for today is among key support at 78.20 and key resistance now at 80.50.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 79.00 78.80 78.50 78.20 78.00
Resistance 79.55 79.80 80.10 80.30 80.50
Recommendation Based on the charts and explanations above our opinion is, buying the pair around 79.00 targeting 80.50 and stop loss below 78.00 might be appropriate.
USD/CHF
Thin trading is seen, yet the pair is incapable of breaching the main descending resistance for the downside wave that started from 0.9971, and the pair failed in holding above the main ascending support shown in blue. Therefore, we hold onto our morning expectations as they are.
The trading range for today is among key support at 0.9570 and key resistance at 0.9950.
The general trend over short term basis is to the upside targeting 1.0420 as far as areas of 0.9400 remains intact.
Support 0.9720 0.9700 0.9655 0.9610 0.9570
Resistance 0.9775 0.9800 0.9835 0.9880 0.9900
Recommendation Our morning expectations remain valid
USD/CAD
The pair is gradually approaching the 88.6% correction shown above and that is accompanied by stability below the support of the main downside wave which keeps the bearishness likely. At the same time, we can’t confirm the extension of the downside move without breaching 0.9870 and therefore we prefer to remain neutral for the rest of the day.
The trading range for today is among key support at 0.9750 and key resistance at 1.0125.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
Support 0.9870 0.9825 0.9800 0.9750 0.9715
Resistance 0.9935 0.9970 1.0000 1.0045 1.0095
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
AUD/USD
The pair is eying the resistance (previously breached support) at 1.0510 and the pair needs to hold above it to extend the upside move and rule out further downside correction. For the rest o the day, we expect that 1.0440 is a positive barrier and stability above it keeps our morning expectations valid.
The trading range for today is expected among the key support at 1.0380 and resistance at 1.0615.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0475 1.0440 1.0400 1.0380 1.0330
Resistance 1.0510 1.0560 1.0585 1.0615 1.0655
Recommendation Our morning expectations remain valid
NZD/USD
We can see that the upside bias is clearer today and Stochastic is trading in oversold areas and helping the pair trade positively. Nevertheless, the pair did not stabilize above 0.8080 and accordingly we remain neutral today until we have more confirmations.
The trading range for today is expected among the key support at 0.7960 and resistance at 0.8255.
The short term trend is to the upside targeting 0.8400 with steady daily closing above 0.7930.
Support 0.8040 0.8015 0.7985 0.7960 0.7930
Resistance 0.8080 0.8100 0.8135 0.8170 0.8200
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
