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EUR/USD
The defensive levels between 1.2440 and 1.2460 caused an upside rebound as seen on the provided daily chart. Meanwhile, Stochastic remains negative suggesting a new re-test of the above mentioned support. As we discussed before, the price behaviors should be watched out carefully until the pair clears 1.2440 to join bear traders. On the upside, a break above 1.2590-1.2600 with a daily closing will support the resumption of the correctional upside move.
The trading range for today is among key support at 1.2280 and key resistance at 1.2655.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2525 1.2500 1.2460 1.2440 1.2400
Resistance 1.2550 1.2575 1.2630 1.2655 1.2685
Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.2440 targeting 1.2280 and stop loss above 1.2580 might be appropriate.
GBP/USD
The pair continued to hover around the intraday technical clue at 1.5780 while momentum indicator remains negative suggesting potential breakout below 1.5740 levels. Thus, we keep our morning predictions intact for the rest of the day noting that a break below 1.5740 will trigger aggressive selling interests.
The trading range for today is among key support at 1.5555 and key resistance at 1.5975.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.5740 1.5700 1.5685 1.5660 1.5630
Resistance 1.5820 1.5850 1.5880 1.5905 1.5925
Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.5740 targeting 1.5560 and stop loss above 1.5880 might be appropriate.
USD/JPY
The pair is presently recovering from areas above 78.20 support as seen on the provided daily chart. We still didn’t find a signal to define the next move since the pair is still stable between 61.8% and 76.4% Fibonacci levels. In summary, we remain neutral for the rest of the day awaiting for more confirmations.
The trading range for today is among key support at 77.30 and key resistance now at 79.55.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 78.20 78.00 77.90 77.60 77.30
Resistance 78.80 79.00 79.25 79.55 79.80
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/CHF
The pair declined noticeably and that confirms that the upside movement that was previously gained couldn’t offset the bearish Butterfly Pattern. MACD is trading negatively below zero and that further supports our negative expectations for the rest of the session today.
The trading range for today is among key support at 0.9460 and key resistance at 0.9720.
The general trend over short term basis is to the upside targeting 1.0420 as far as areas of 0.9400 remains intact.
Support 0.9570 0.9550 0.9520 0.9490 0.9460
Resistance 0.9610 0.9655 0.9680 0.9720 0.9775
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9655 targeting 0.9570 then 0.9520 and stop loss with four-hour closing above 0.9720 might be appropriate
USD /CAD
The pair is still trading with a negative bias and further confirmed with stability below 0.9935 alongside the negative crossover on Stochastic. We still need to see stability below 0.9870 to support the extension of the downside move for today.
The trading range for today is among key support at 0.9715 and key resistance at 1.0000.
The short term trend is expected to the downside with daily closing below 1.0125 targeting areas of 0.9400.
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, our opinion is selling the pair below 0.9935 targeting 0.9870 then 0.9800 and stop loss with four-hour closing above 1.0000 might be appropriate
AUD/USD
The pair is trading slightly higher, but at the same time the move remains limited to areas around 1.0370, keeping the pair below the critical 1.0400 and 1.0440. Therefore, we hold onto our morning expectations supported by the Linear Regression Indicators.
The trading range for today is expected among the key support at 1.0240 and resistance at 1.0475.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0370 1.0330 1.0300 1.0285 1.0240
Resistance 1.0400 1.0440 1.0475 1.0510 1.0560
Recommendation Our morning expectations remain valid
NZD/USD
The weakness is evident on the pair with stability below 0.8080 yet without the breach of 0.8037 we can’t confirm the downside move over intraday basis, especially as Stochastic entered oversold areas. We have conflicting signals with the possible negative pattern completed with the breach of 0.8037 and the continued effect of the positive continuation pattern mentioned in the past weeks and accordingly we remain neutral.
The trading range for today is expected among the key support at 0.7985 and resistance at 0.8220.
The short term trend is to the upside targeting 0.8400 with steady daily closing above 0.7930.
Support 0.8040 0.8015 0.8000 0.7985 0.7960
Resistance 0.8080 0.8100 0.8135 0.8185 0.8200
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
The defensive levels between 1.2440 and 1.2460 caused an upside rebound as seen on the provided daily chart. Meanwhile, Stochastic remains negative suggesting a new re-test of the above mentioned support. As we discussed before, the price behaviors should be watched out carefully until the pair clears 1.2440 to join bear traders. On the upside, a break above 1.2590-1.2600 with a daily closing will support the resumption of the correctional upside move.
The trading range for today is among key support at 1.2280 and key resistance at 1.2655.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2525 1.2500 1.2460 1.2440 1.2400
Resistance 1.2550 1.2575 1.2630 1.2655 1.2685
Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.2440 targeting 1.2280 and stop loss above 1.2580 might be appropriate.
GBP/USD
The pair continued to hover around the intraday technical clue at 1.5780 while momentum indicator remains negative suggesting potential breakout below 1.5740 levels. Thus, we keep our morning predictions intact for the rest of the day noting that a break below 1.5740 will trigger aggressive selling interests.
The trading range for today is among key support at 1.5555 and key resistance at 1.5975.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.5740 1.5700 1.5685 1.5660 1.5630
Resistance 1.5820 1.5850 1.5880 1.5905 1.5925
Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.5740 targeting 1.5560 and stop loss above 1.5880 might be appropriate.
USD/JPY
The pair is presently recovering from areas above 78.20 support as seen on the provided daily chart. We still didn’t find a signal to define the next move since the pair is still stable between 61.8% and 76.4% Fibonacci levels. In summary, we remain neutral for the rest of the day awaiting for more confirmations.
The trading range for today is among key support at 77.30 and key resistance now at 79.55.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 78.20 78.00 77.90 77.60 77.30
Resistance 78.80 79.00 79.25 79.55 79.80
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/CHF
The pair declined noticeably and that confirms that the upside movement that was previously gained couldn’t offset the bearish Butterfly Pattern. MACD is trading negatively below zero and that further supports our negative expectations for the rest of the session today.
The trading range for today is among key support at 0.9460 and key resistance at 0.9720.
The general trend over short term basis is to the upside targeting 1.0420 as far as areas of 0.9400 remains intact.
Support 0.9570 0.9550 0.9520 0.9490 0.9460
Resistance 0.9610 0.9655 0.9680 0.9720 0.9775
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9655 targeting 0.9570 then 0.9520 and stop loss with four-hour closing above 0.9720 might be appropriate
USD /CAD
The pair is still trading with a negative bias and further confirmed with stability below 0.9935 alongside the negative crossover on Stochastic. We still need to see stability below 0.9870 to support the extension of the downside move for today.
The trading range for today is among key support at 0.9715 and key resistance at 1.0000.
The short term trend is expected to the downside with daily closing below 1.0125 targeting areas of 0.9400.
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, our opinion is selling the pair below 0.9935 targeting 0.9870 then 0.9800 and stop loss with four-hour closing above 1.0000 might be appropriate
AUD/USD
The pair is trading slightly higher, but at the same time the move remains limited to areas around 1.0370, keeping the pair below the critical 1.0400 and 1.0440. Therefore, we hold onto our morning expectations supported by the Linear Regression Indicators.
The trading range for today is expected among the key support at 1.0240 and resistance at 1.0475.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0370 1.0330 1.0300 1.0285 1.0240
Resistance 1.0400 1.0440 1.0475 1.0510 1.0560
Recommendation Our morning expectations remain valid
NZD/USD
The weakness is evident on the pair with stability below 0.8080 yet without the breach of 0.8037 we can’t confirm the downside move over intraday basis, especially as Stochastic entered oversold areas. We have conflicting signals with the possible negative pattern completed with the breach of 0.8037 and the continued effect of the positive continuation pattern mentioned in the past weeks and accordingly we remain neutral.
The trading range for today is expected among the key support at 0.7985 and resistance at 0.8220.
The short term trend is to the upside targeting 0.8400 with steady daily closing above 0.7930.
Support 0.8040 0.8015 0.8000 0.7985 0.7960
Resistance 0.8080 0.8100 0.8135 0.8185 0.8200
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
