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EUR/USD
The pair has been trading narrowly and it succeeded in re-testing SMA 50 once more. The sideways range which is clearer over smaller time frames-check the morning report- forces us to keep our neutrality intact for the rest of the day.
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 1.2615 1.2280 1.2240 1.2220 1.2200
Resistance 1.2400 1.2425 1.2460 1.2500 1.2520
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
Nothing changed since our morning report was published as the upper line of the sideways range has pushed the pair mildly to the downside. It seems that the negative crossover on Stochastic will affect the movements but we should be patient as trading remains above 38.2% Fibonacci level. Remember, staying aside is a position!
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 USD/JPY pair is currently attacking the initial resistance level of 79.55 after closing yesterday above 61.8% Fibonacci level. RSI 14 and MACD are definitely positive solidifying our constructive bullish overview. Moreover, the four-hour interval-check the morning report- shows how Parabolic SAR is carrying the wave from below assisting bulls to keep their long positions. Eyes should be now on 80.00 psychological 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 79.25 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 weakness is seen on the pair and currently trending lower and attempting to hold below 0.9720. Stability below the mentioned level might extend the downside move to retest 0.9655 while breaching the latter might trigger a strong downside move. Our expectations require stability below 0.9810 and preferably below 0.9775 to further support the move.
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 0.9700 0.9655 0.9610 0.9570 0.9550
Resistance 0.9775 0.9810 0.9835 0.9880 0.9900
Recommendation Our morning expectations remain valid
USD/CAD
The pair is confirming the stability below 88.6% at 0.9870, and the Linear Regression Indicator 34 prevented the pair from clear upside movement. Therefore, we hold onto our morning expectations and note that the oversold signs on momentum indicators might cause heavy volatility.
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 Our morning expectations remain valid
AUD/USD
The pair breached the pair ascending support and that is considered very negative and capable of negating our positive expectations. The Linear Regression Indicators are attempting to crossover negatively and RSI breached 50 which add to the negativity. The downside move is very likely to extend although it is only correctional yet it will force us to cancel our morning expectations and bet on extended bearishness. The only thing that can revive the bullishness is stability above 1.0510.
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 1.0400 1.0380 1.0360 1.0330 1.0300
Resistance 1.0475 1.0510 1.0560 1.0585 1.0615
Recommendation Based on the charts and explanations above, we cancel our morning expectations and sell the pair below 1.0450 targeting 1.0400, 1.0360 then 1.0330 and stop loss above 1.0510 might be appropriate
NZD/USD
Over four-hour basis, we can have confirmations for a bearish channel accompanied by negative signs on Stochastic. Nevertheless , the pair did not stabilize below the Linear Regression Indicators yet trading below 0.8135 is considered negative and might support the retest of 0.8040 and might extend toward 0.8000 and 0.7985.
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, our opinion is selling the pair below 0.8080 targeting 0.8040, 0.8000 then 0.7985 and stop loss with four-hour closing above 0.8135 might be appropriate
The pair has been trading narrowly and it succeeded in re-testing SMA 50 once more. The sideways range which is clearer over smaller time frames-check the morning report- forces us to keep our neutrality intact for the rest of the day.
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 1.2615 1.2280 1.2240 1.2220 1.2200
Resistance 1.2400 1.2425 1.2460 1.2500 1.2520
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
Nothing changed since our morning report was published as the upper line of the sideways range has pushed the pair mildly to the downside. It seems that the negative crossover on Stochastic will affect the movements but we should be patient as trading remains above 38.2% Fibonacci level. Remember, staying aside is a position!
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 USD/JPY pair is currently attacking the initial resistance level of 79.55 after closing yesterday above 61.8% Fibonacci level. RSI 14 and MACD are definitely positive solidifying our constructive bullish overview. Moreover, the four-hour interval-check the morning report- shows how Parabolic SAR is carrying the wave from below assisting bulls to keep their long positions. Eyes should be now on 80.00 psychological 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 79.25 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 weakness is seen on the pair and currently trending lower and attempting to hold below 0.9720. Stability below the mentioned level might extend the downside move to retest 0.9655 while breaching the latter might trigger a strong downside move. Our expectations require stability below 0.9810 and preferably below 0.9775 to further support the move.
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 0.9700 0.9655 0.9610 0.9570 0.9550
Resistance 0.9775 0.9810 0.9835 0.9880 0.9900
Recommendation Our morning expectations remain valid
USD/CAD
The pair is confirming the stability below 88.6% at 0.9870, and the Linear Regression Indicator 34 prevented the pair from clear upside movement. Therefore, we hold onto our morning expectations and note that the oversold signs on momentum indicators might cause heavy volatility.
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 Our morning expectations remain valid
AUD/USD
The pair breached the pair ascending support and that is considered very negative and capable of negating our positive expectations. The Linear Regression Indicators are attempting to crossover negatively and RSI breached 50 which add to the negativity. The downside move is very likely to extend although it is only correctional yet it will force us to cancel our morning expectations and bet on extended bearishness. The only thing that can revive the bullishness is stability above 1.0510.
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 1.0400 1.0380 1.0360 1.0330 1.0300
Resistance 1.0475 1.0510 1.0560 1.0585 1.0615
Recommendation Based on the charts and explanations above, we cancel our morning expectations and sell the pair below 1.0450 targeting 1.0400, 1.0360 then 1.0330 and stop loss above 1.0510 might be appropriate
NZD/USD
Over four-hour basis, we can have confirmations for a bearish channel accompanied by negative signs on Stochastic. Nevertheless , the pair did not stabilize below the Linear Regression Indicators yet trading below 0.8135 is considered negative and might support the retest of 0.8040 and might extend toward 0.8000 and 0.7985.
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, our opinion is selling the pair below 0.8080 targeting 0.8040, 0.8000 then 0.7985 and stop loss with four-hour closing above 0.8135 might be appropriate
