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EUR/USD
The pair is presently struggling around SMA 20 while the fluctuation continues around 61.8% retracement as seen on the provided daily chart. Stochastic may cause more fluctuation but the negativity remains favored and a break of 1.2890 will confirm and accelerate.
The trading range for today is among key support at 1.2700 and key resistance at 1.3080.
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 expectations expectations remain valid.
GBP/USD
The market is still trapped within a narrow range but we have witnessed bearish tendencies; noting that the pair was very close to one of our previous detected technical objectives at 1.6075. Anyway, we keep our morning scenario intact based on the effects of the bearish harmonic double top Bat pattern. A break below 1.6075 will accelerate the bearish move that started at 1.6310 regions.
The trading range for today is among key support at 1.5925and key resistance at 1.6310.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.6085 1.6055 1.6000 1.5975 1.5925
Resistance 1.6125 1.6165 1.6180 1.6225 1.6250
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.6140 targeting 1.5900 and stop loss above 1.6300 might be appropriate.
USD/JPY
The pair continued to re-attack one of the most important resistance levels at 78.20 while the positive effect of the H&S bottom pattern is still progress. Thereby, our bullish scenario remains intact for the rest of the day and a new break above 78.50 will be a very positive indication over short term basis.
The trading range for today is among key support at 77.00 and key resistance now at 79.25.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 77.95 77.60 77.30 77.00 76.80
Resistance 78.50 78.80 79.00 79.25 79.55
Recommendation Our morning expectations remain valid.
USD/CHF
Trading remains stable below 0.9395 which proved its strength during the European session and after the reversal from this level to the downside. This encourages us to hold onto our bearish expectations and remind of the importance of breaching 0.9325 to revive the effect of the bearish harmonic Butterfly Pattern.
The trading range for today is among key support at 0.9200 and key resistance at 0.9465.
The general trend over short term basis is to the downside targeting 0.8860 as far as areas of 0.9775 remains intact.
Support 0.9355 0.9325 0.9300 0.9280 0.9250
Resistance 0.9395 0.9405 0.9460 0.9490 0.9515
Recommendation Our expectations remain valid
USD /CAD
The pair rushed to the upside yet the move stopped around the resistance mentioned earlier at 0.9870. Therefore, we still see chances for the pair to move to the downside yet this only will be further supported with the breach below 0.900-0.9780. Therefore, since trading is stable between 0.9870 and 0.9780 we prefer to stay aside for now especially with the conflict between Stochastic and the Linear Regression Indicators.
The trading range for today is among the key support at 0.9625 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 0.9800 0.9780 0.9715 0.9680 0.9635
Resistance 0.9870 0.9900 0.9935 0.9970 1.0000
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
AUD/USD
The negativity is clear on the pair, yet Stochastic is restricting the move as it lingers in oversold areas. Stability below 1.0310 makes us hold onto our bearish expectations, especially after the clear breach of the ascending support provided above in blue.
The trading range for today is expected among the key support at 1.0100 and resistance at 1.0400.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0220 1.0200 1.0185 1.0165 1.0135
Resistance 1.0285 1.0310 1.0370 1.0400 1.0440
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 1.0245 targeting 1.0200, 1.065 then 1.0100 and stop loss with four-hour closing above 1.0310 might be appropriate
NZD/USD
The pair failed to hold above the Linear Regression Indicators and Stochastic entered a downside wave once again. The resistance area of 0.8355 turned into a critical intraday barrier that can help the pair form the Double Top pattern which will be activated with the breach of 0.8185 support and stability below it. We will turn away from our positive outlook for now and expect a downside correction.
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 0.8190 0.8160 0.8135 0.8100
Resistance 0.8255 0.8310 0.8355 0.8415 0.8470
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.8255 targeting 0.8190, 0.8135 then 0.8080 and stop loss with four-hour closing above 0.8310 might be appropriate
The pair is presently struggling around SMA 20 while the fluctuation continues around 61.8% retracement as seen on the provided daily chart. Stochastic may cause more fluctuation but the negativity remains favored and a break of 1.2890 will confirm and accelerate.
The trading range for today is among key support at 1.2700 and key resistance at 1.3080.
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 expectations expectations remain valid.
GBP/USD
The market is still trapped within a narrow range but we have witnessed bearish tendencies; noting that the pair was very close to one of our previous detected technical objectives at 1.6075. Anyway, we keep our morning scenario intact based on the effects of the bearish harmonic double top Bat pattern. A break below 1.6075 will accelerate the bearish move that started at 1.6310 regions.
The trading range for today is among key support at 1.5925and key resistance at 1.6310.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.6085 1.6055 1.6000 1.5975 1.5925
Resistance 1.6125 1.6165 1.6180 1.6225 1.6250
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.6140 targeting 1.5900 and stop loss above 1.6300 might be appropriate.
USD/JPY
The pair continued to re-attack one of the most important resistance levels at 78.20 while the positive effect of the H&S bottom pattern is still progress. Thereby, our bullish scenario remains intact for the rest of the day and a new break above 78.50 will be a very positive indication over short term basis.
The trading range for today is among key support at 77.00 and key resistance now at 79.25.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 77.95 77.60 77.30 77.00 76.80
Resistance 78.50 78.80 79.00 79.25 79.55
Recommendation Our morning expectations remain valid.
USD/CHF
Trading remains stable below 0.9395 which proved its strength during the European session and after the reversal from this level to the downside. This encourages us to hold onto our bearish expectations and remind of the importance of breaching 0.9325 to revive the effect of the bearish harmonic Butterfly Pattern.
The trading range for today is among key support at 0.9200 and key resistance at 0.9465.
The general trend over short term basis is to the downside targeting 0.8860 as far as areas of 0.9775 remains intact.
Support 0.9355 0.9325 0.9300 0.9280 0.9250
Resistance 0.9395 0.9405 0.9460 0.9490 0.9515
Recommendation Our expectations remain valid
USD /CAD
The pair rushed to the upside yet the move stopped around the resistance mentioned earlier at 0.9870. Therefore, we still see chances for the pair to move to the downside yet this only will be further supported with the breach below 0.900-0.9780. Therefore, since trading is stable between 0.9870 and 0.9780 we prefer to stay aside for now especially with the conflict between Stochastic and the Linear Regression Indicators.
The trading range for today is among the key support at 0.9625 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 0.9800 0.9780 0.9715 0.9680 0.9635
Resistance 0.9870 0.9900 0.9935 0.9970 1.0000
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
AUD/USD
The negativity is clear on the pair, yet Stochastic is restricting the move as it lingers in oversold areas. Stability below 1.0310 makes us hold onto our bearish expectations, especially after the clear breach of the ascending support provided above in blue.
The trading range for today is expected among the key support at 1.0100 and resistance at 1.0400.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0220 1.0200 1.0185 1.0165 1.0135
Resistance 1.0285 1.0310 1.0370 1.0400 1.0440
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 1.0245 targeting 1.0200, 1.065 then 1.0100 and stop loss with four-hour closing above 1.0310 might be appropriate
NZD/USD
The pair failed to hold above the Linear Regression Indicators and Stochastic entered a downside wave once again. The resistance area of 0.8355 turned into a critical intraday barrier that can help the pair form the Double Top pattern which will be activated with the breach of 0.8185 support and stability below it. We will turn away from our positive outlook for now and expect a downside correction.
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 0.8190 0.8160 0.8135 0.8100
Resistance 0.8255 0.8310 0.8355 0.8415 0.8470
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.8255 targeting 0.8190, 0.8135 then 0.8080 and stop loss with four-hour closing above 0.8310 might be appropriate
