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EUR/USD
The EUR/USD pair remains trapped between SMA 20 and SMA 50 despite showing some kind of bullish tendency. Indeed, the neutral stance is very clear over four-hour interval as the pair has created a trading range which is narrow. In the interim, indicators continue to reflect the indecision case that started with the opening of this week and in result, we will be neutral today. A break above 1.2400 may weaken 1.2440 pivotal resistance.
The trading range for today is among key support at 1.2130 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 1.2315 1.2280 1.2240 1.2220 1.2200
Resistance 1.2360 1.2400 1.2425 1.2460 1.2500
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
GBP/USD
The wide resistance areas between 1.5740 and 1.5780 have stopped yesterday’s bullish attempt again as seen on the provided daily graph. For most of traders, touching the topside of a sideways range could be a potential opportunity for selling particularly when this touch coincides a negative sign on momentum indicators but we do have positive sign that contradicts with this theory as the pair has achieved a daily closing above SMA 200 for the first time since May, 21. Consequently, we prefer standing asid e over intraday basis until we see whether the pair will beat with a daily closing 1.5780 or not.
The trading range for today is among key support at 1.5510 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 1.5580 1.5555
Resistance 1.5730 1.5750 1.5780 1.5820 1.5880
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 continued to head upwards yesterday approaching the key level of 79.55 as seen on the provided daily chart. As we mentioned earlier, SMA 100 would be the technical object for our successful trading journey during this week and the pair becomes very close to it. A break above SMA 50 will confirm and accelerate the awaited bullish wave supported by the positivity on MACD and stability of RSI 14 above the value of 50.00. Over smaller time frames, we can see how Parabolic SAR carries the wave from below reinforcing our constructive outlook.
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 79.25 79.00 78.80 78.50 78.20
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 79.15 targeting 80.50 and stop loss below 78.30 might be appropriate.
USD/CHF
The pair is responding to our bearish expectations affected by the Butterfly Pattern and the resistance of the downside wave that started from 0.9971 top. The possibility for the downside move to continue remains valid today, where a breach of 0.9720 areas will extend the downside move to test 0.9655 . Stability below 0.9810 is essential for our intraday negative outlook.
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 0.9575
Resistance 0.9775 0.9810 0.9835 0.9880 0.9900
Recommendation Based on the charts and explanations above, our opinion is selling the pair around 0.9725 targeting 0.9655, 0.9570 then 0.9570 and stop loss with four-hour closing above 0.9810 might be appropriate
USD/CAD
The breach of 0.9870 areas makes the extension of the bearish move very likely. On the chart, we can see that this breach confirmed also the breach of the main ascending support that started from 0.9405 bottom and that means that the pair might test 0.9799 shown above and possible extend further if it managed to breach the latter. Trading below 0.9935 is considered very negative now and the Linear Regression Indicators support this idea.
The trading range for this week is among key support at 0.9715 and key resistance at 0.9935.
The short term trend is expected to the downside with daily closing below 1.0125 targeting areas of 0.9400.
Support 0.9825 0.9800 0.9750 0.9715 0.9670
Resistance 0.9870 0.9900 0.9935 0.9960 0.9995
Recommendation Based on the charts and explanations above, our opinion is selling the pair around 0.9870 targeting 0.9825 then 0.9715 and stop loss with four-hour closing above 0.9935 might be appropriate
AUD/USD
We will give the pair the last change to move higher , as it remains stable above the main support for the upside wave that started from 0.9580 bottom. Nevertheless, the breach of 1.0440 with four-hour closing weakens the upside wave while a breach of 1.0370 will cancel it over short term basis. We will depend today on the ascending support shown above and the positive crossover on Stochastic in oversold areas.
The trading range for today is expected among the key support at 1.0330 and resistance at 1.0615.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0440 1.0400 1.0380 1.0330 1.0300
Resistance 1.0510 1.0560 1.0585 1.0615 1.0655
Recommendation Based on the charts and explanations above, our opinion is buying the pair around 1.0475 targeting 1.0510, 1.0585 then 1.0610 and stop loss with four-hour closing below 1.0400 might be appropriate
NZD/USD
The upside move halted below 0.8135 areas which resides near the Linear Regression Indicator 34, which is a negative sign. At the same time, stability above 0.8040 and the psychological 0.8000 is positive, as it keeps the effect of the bullish continuation pattern shown above. Due to the conflicting signals we prefer to stay aside today as well.
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 0.8080 0.8040 0.8015 0.7985 0.7960
Resistance 0.8100 0.8135 0.8170 0.8200 0.8255
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
The EUR/USD pair remains trapped between SMA 20 and SMA 50 despite showing some kind of bullish tendency. Indeed, the neutral stance is very clear over four-hour interval as the pair has created a trading range which is narrow. In the interim, indicators continue to reflect the indecision case that started with the opening of this week and in result, we will be neutral today. A break above 1.2400 may weaken 1.2440 pivotal resistance.
The trading range for today is among key support at 1.2130 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 1.2315 1.2280 1.2240 1.2220 1.2200
Resistance 1.2360 1.2400 1.2425 1.2460 1.2500
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
GBP/USD
The wide resistance areas between 1.5740 and 1.5780 have stopped yesterday’s bullish attempt again as seen on the provided daily graph. For most of traders, touching the topside of a sideways range could be a potential opportunity for selling particularly when this touch coincides a negative sign on momentum indicators but we do have positive sign that contradicts with this theory as the pair has achieved a daily closing above SMA 200 for the first time since May, 21. Consequently, we prefer standing asid e over intraday basis until we see whether the pair will beat with a daily closing 1.5780 or not.
The trading range for today is among key support at 1.5510 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 1.5580 1.5555
Resistance 1.5730 1.5750 1.5780 1.5820 1.5880
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 continued to head upwards yesterday approaching the key level of 79.55 as seen on the provided daily chart. As we mentioned earlier, SMA 100 would be the technical object for our successful trading journey during this week and the pair becomes very close to it. A break above SMA 50 will confirm and accelerate the awaited bullish wave supported by the positivity on MACD and stability of RSI 14 above the value of 50.00. Over smaller time frames, we can see how Parabolic SAR carries the wave from below reinforcing our constructive outlook.
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 79.25 79.00 78.80 78.50 78.20
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 79.15 targeting 80.50 and stop loss below 78.30 might be appropriate.
USD/CHF
The pair is responding to our bearish expectations affected by the Butterfly Pattern and the resistance of the downside wave that started from 0.9971 top. The possibility for the downside move to continue remains valid today, where a breach of 0.9720 areas will extend the downside move to test 0.9655 . Stability below 0.9810 is essential for our intraday negative outlook.
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 0.9575
Resistance 0.9775 0.9810 0.9835 0.9880 0.9900
Recommendation Based on the charts and explanations above, our opinion is selling the pair around 0.9725 targeting 0.9655, 0.9570 then 0.9570 and stop loss with four-hour closing above 0.9810 might be appropriate
USD/CAD
The breach of 0.9870 areas makes the extension of the bearish move very likely. On the chart, we can see that this breach confirmed also the breach of the main ascending support that started from 0.9405 bottom and that means that the pair might test 0.9799 shown above and possible extend further if it managed to breach the latter. Trading below 0.9935 is considered very negative now and the Linear Regression Indicators support this idea.
The trading range for this week is among key support at 0.9715 and key resistance at 0.9935.
The short term trend is expected to the downside with daily closing below 1.0125 targeting areas of 0.9400.
Support 0.9825 0.9800 0.9750 0.9715 0.9670
Resistance 0.9870 0.9900 0.9935 0.9960 0.9995
Recommendation Based on the charts and explanations above, our opinion is selling the pair around 0.9870 targeting 0.9825 then 0.9715 and stop loss with four-hour closing above 0.9935 might be appropriate
AUD/USD
We will give the pair the last change to move higher , as it remains stable above the main support for the upside wave that started from 0.9580 bottom. Nevertheless, the breach of 1.0440 with four-hour closing weakens the upside wave while a breach of 1.0370 will cancel it over short term basis. We will depend today on the ascending support shown above and the positive crossover on Stochastic in oversold areas.
The trading range for today is expected among the key support at 1.0330 and resistance at 1.0615.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0440 1.0400 1.0380 1.0330 1.0300
Resistance 1.0510 1.0560 1.0585 1.0615 1.0655
Recommendation Based on the charts and explanations above, our opinion is buying the pair around 1.0475 targeting 1.0510, 1.0585 then 1.0610 and stop loss with four-hour closing below 1.0400 might be appropriate
NZD/USD
The upside move halted below 0.8135 areas which resides near the Linear Regression Indicator 34, which is a negative sign. At the same time, stability above 0.8040 and the psychological 0.8000 is positive, as it keeps the effect of the bullish continuation pattern shown above. Due to the conflicting signals we prefer to stay aside today as well.
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 0.8080 0.8040 0.8015 0.7985 0.7960
Resistance 0.8100 0.8135 0.8170 0.8200 0.8255
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
