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EUR/USD
The pair couldn’t hit the intraday resistance of 1.2940 where it moved downwards once again aiming to challenge 1.29 figure. The negativity on technical indicators and stability below 1.30s could bring additional losses for the rest of the day; noting that a break below 1.2890 will confirm and accelerate the move.
The trading range for today is among key support at 1.2750 and key resistance at 1.3110.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2890 1.2845 1.2825 1.2800 1.2750
Resistance 1.2955 1.2975 1.3000 1.3055 1.3080
Recommendation Our morning expectations remain valid.
GBP/USD
The pair has moved bearishly after testing the intraday resistance at 1.6270 and is currently approaching 1.62s levels as seen on the provided daily graph. All what we need is a sustained breakout below 1.6180 to confirm the bearisheffect of the double top harmonic Bat pattern discussed several times before. Stability below 1.61480 will expose 1.6055 levels followed by 1.5980.
Technical Characteristic Momentum Indicator Trend Indicator Oscillator
Measure Stochastic SMA50,SMA100,SMA200 MACD
Direction Negative Positive Overlapped bearishly
The trading range for today is among key support at 1.6055 and key resistance at 1.6425.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.6180 1.6125 1.6100 1.6075 1.6055
Resistance 1.6250 1.6270 1.6300 1.6350 1.6390
Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.6180 targeting 1.5980 and stop loss above 1.6300 might be appropriate.
USD/JPY
The pair continued to move slowly to the downside following the breakout below 76.4% Fibonacci level. Thus, our negative scenario remains valid and the path is clear towards 88.6% level supported by the bearishness on RSI 14 and MACD indicators.
The trading range for today is among key support at 76.80 and key resistance now at 79.00.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 77.60 77.30 77.00 76.80 76.50
Resistance 78.00 78.20 78.50 78.80 79.00
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 77.95 targeting 76.95 and stop loss above 78.55 might be appropriate.
USD/CHF
Trading is still biased positively yet we cannot trust the upside move as Stochastic is approaching overbought areas and the Linear Regression Indicators maintain the negative status. Therefore, we hold onto our bearish expectations for today with stability below 0.9395 and as we mentioned before we need more confirmations with the breach of 0.9325.
The trading range for today is among key support at 0.9230 and key resistance at 0.9405.
The general trend over short term basis is to the downside targeting 0.8860 as far as areas of 0.9775 remains intact.
Support 0.9325 0.9300 0.9280 0.9250 0.9200
Resistance 0.9365 0.9405 0.9460 0.9490 0.9515
Recommendation Based on the charts and explanations above, our opinion is selling the pair with four-hour closing below 0.9325 targeting 0.9280, 0.9250 then 0.9230 and stop loss with four-hour closing above 0.9365 might be appropriate
USD /CAD
The pair is attempting to breach the main descending resistance that resides with 0.9800 areas; the pair still did not give any confirmations especially as the Linear Regression Indicators remain negative. Accordingly, we hold onto our expectations while noting that the breach of 0.9870 will fail the intraday outlook.
The trading range for today is among the key support at 0.9585 and key resistance at 0.9900.
The short term trend is expected to the downside with daily closing below 1.0125 targeting areas of 0.9400.
Support 0.9760 0.9715 0.9680 0.9625 0.9585
Resistance 0.9825 0.9870 0.9900 0.9935 0.9950
Recommendation Our expectations remain valid
AUD/USD
Stochastic provided a negative crossover and that limits the strength of the upside move that was seen after the pair touched 1.0400 earlier. Stability above the mentioned level and above 1.0355 makes us hold onto our positive expectations supported by the bullish Bat Pattern.
The trading range for today is expected among the key support at 1.0310 and resistance at 1.0645.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0400 1.0370 1.0355 1.0310 1.0285
Resistance 1.0440 1.0465 1.0500 1.0560 1.0595
Recommendation Our expectations remain valid
NZD/USD
The pair is trading in a tight and volatile move, where trading did not exit the tight range seen in the Asian session. Therefore, we hold onto our expectations which require stability above 0.8135.
The trading range for today is expected among the key support at 0.8080 and resistance at 0.8470.
The short term trend is to the upside targeting 0.8400 with steady daily closing above 0.7930.
Support 0.8200 0.8185 0.8160 0.8135 0.8100
Resistance 0.8255 0.8265 0.8310 0.8355 0.8415
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.8200 targeting 0.8285, 0.8355, then 0.8470 and stop loss with four-hour closing below 0.8135 might be appropriate
The pair couldn’t hit the intraday resistance of 1.2940 where it moved downwards once again aiming to challenge 1.29 figure. The negativity on technical indicators and stability below 1.30s could bring additional losses for the rest of the day; noting that a break below 1.2890 will confirm and accelerate the move.
The trading range for today is among key support at 1.2750 and key resistance at 1.3110.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2890 1.2845 1.2825 1.2800 1.2750
Resistance 1.2955 1.2975 1.3000 1.3055 1.3080
Recommendation Our morning expectations remain valid.
GBP/USD
The pair has moved bearishly after testing the intraday resistance at 1.6270 and is currently approaching 1.62s levels as seen on the provided daily graph. All what we need is a sustained breakout below 1.6180 to confirm the bearisheffect of the double top harmonic Bat pattern discussed several times before. Stability below 1.61480 will expose 1.6055 levels followed by 1.5980.
Technical Characteristic Momentum Indicator Trend Indicator Oscillator
Measure Stochastic SMA50,SMA100,SMA200 MACD
Direction Negative Positive Overlapped bearishly
The trading range for today is among key support at 1.6055 and key resistance at 1.6425.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.6180 1.6125 1.6100 1.6075 1.6055
Resistance 1.6250 1.6270 1.6300 1.6350 1.6390
Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.6180 targeting 1.5980 and stop loss above 1.6300 might be appropriate.
USD/JPY
The pair continued to move slowly to the downside following the breakout below 76.4% Fibonacci level. Thus, our negative scenario remains valid and the path is clear towards 88.6% level supported by the bearishness on RSI 14 and MACD indicators.
The trading range for today is among key support at 76.80 and key resistance now at 79.00.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 77.60 77.30 77.00 76.80 76.50
Resistance 78.00 78.20 78.50 78.80 79.00
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 77.95 targeting 76.95 and stop loss above 78.55 might be appropriate.
USD/CHF
Trading is still biased positively yet we cannot trust the upside move as Stochastic is approaching overbought areas and the Linear Regression Indicators maintain the negative status. Therefore, we hold onto our bearish expectations for today with stability below 0.9395 and as we mentioned before we need more confirmations with the breach of 0.9325.
The trading range for today is among key support at 0.9230 and key resistance at 0.9405.
The general trend over short term basis is to the downside targeting 0.8860 as far as areas of 0.9775 remains intact.
Support 0.9325 0.9300 0.9280 0.9250 0.9200
Resistance 0.9365 0.9405 0.9460 0.9490 0.9515
Recommendation Based on the charts and explanations above, our opinion is selling the pair with four-hour closing below 0.9325 targeting 0.9280, 0.9250 then 0.9230 and stop loss with four-hour closing above 0.9365 might be appropriate
USD /CAD
The pair is attempting to breach the main descending resistance that resides with 0.9800 areas; the pair still did not give any confirmations especially as the Linear Regression Indicators remain negative. Accordingly, we hold onto our expectations while noting that the breach of 0.9870 will fail the intraday outlook.
The trading range for today is among the key support at 0.9585 and key resistance at 0.9900.
The short term trend is expected to the downside with daily closing below 1.0125 targeting areas of 0.9400.
Support 0.9760 0.9715 0.9680 0.9625 0.9585
Resistance 0.9825 0.9870 0.9900 0.9935 0.9950
Recommendation Our expectations remain valid
AUD/USD
Stochastic provided a negative crossover and that limits the strength of the upside move that was seen after the pair touched 1.0400 earlier. Stability above the mentioned level and above 1.0355 makes us hold onto our positive expectations supported by the bullish Bat Pattern.
The trading range for today is expected among the key support at 1.0310 and resistance at 1.0645.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0400 1.0370 1.0355 1.0310 1.0285
Resistance 1.0440 1.0465 1.0500 1.0560 1.0595
Recommendation Our expectations remain valid
NZD/USD
The pair is trading in a tight and volatile move, where trading did not exit the tight range seen in the Asian session. Therefore, we hold onto our expectations which require stability above 0.8135.
The trading range for today is expected among the key support at 0.8080 and resistance at 0.8470.
The short term trend is to the upside targeting 0.8400 with steady daily closing above 0.7930.
Support 0.8200 0.8185 0.8160 0.8135 0.8100
Resistance 0.8255 0.8265 0.8310 0.8355 0.8415
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.8200 targeting 0.8285, 0.8355, then 0.8470 and stop loss with four-hour closing below 0.8135 might be appropriate
