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EUR/USD
As we anticipated this morning, the pair has showed some kind of fluctuation due to the overbought sign appearing on momentum indicator. Anyway, the trading range is still very tight and we should witness a sustained breakout above 1.2995-1.30 zones to join bulls; whilst a break below 1.2860-1.2845 and preferably below 1.2825 areas will bring the bearish picture back into focus.
The trading range for today is among key support at 1.2825 and key resistance at 1.3145.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2935 1.2915 1.2890 1.2845 1.2825
Resistance 1.2975 1.3000 1.3055 1.3070 1.3110
Recommendation Based on the charts and explanations above our opinion is, buying the pair above 1.2995 targeting 1.3140 and stop loss below 1.2860 might be appropriate.
GBP/USD
The technical situation remains very sensitive due to facing the upper line of the descending channel. In the interim, Stochastic continued to move within overbought territories and that contradicts with the positivity on Vortex indicator. Accordingly, we prefer to stand aside for the rest of the day; noting that a break below 1.6000 could be a negative indication.
The trading range for today is among key support at 1.5850 and key resistance at 1.6180.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.6000 1.5975 1.5960 1.5925 1.5880
Resistance 1.6050 1.6075 1.6100 1.6125 1.6165
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 has been trading within a narrow range after experiencing one of the initial resistances at 81.25-82.30 while RSI 14 is still valued at the value of 70.00. We still expect a pullback towards 81.50 boundaries at least to relieve momentum indicator coming below 82.00 will accelerate the awaited correction.
The trading range for today is among key support at 80.75 and key resistance now at 83.20.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 81.80 81.50 81.25 81.00 80.75
Resistance 82.25 82.50 83.00 83.20 83.65
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 82.50 targeting 81.50 and stop loss above 83.20 might be appropriate.
USD/CHF
The pair reached 0.9305 and couldn’t hold above it keeping the downside bias of the Butterfly Pattern valid. The Linear Regression Indicators are also negative over four-hour basis and therefore we hold onto our expectations.
The trading range for today is among the key support at 0.9130 and key resistance at 0.9370.
The general trend over short term basis is to the downside targeting 0.8860 as far as areas of 0.9775 remains intact.
Support 0.9275 0.9245 0.9200 0.9180 0.9130
Resistance 0.9305 0.9330 0.9370 0.9425 0.9460
Recommendation Our expectations remain valid
USD /CAD
Trading is biased to the downside affected by the failure to hold above 0.9930 which is the first target of the bearish Butterfly Pattern. Stability below this level will extend the downside move taking into consideration the oversold signs on Stochastic that might cause heavy fluctuations.
The trading range for today is among the key support at 0.9805 and key resistance at 1.0040.
The short term trend is expected to the downside with daily closing below 1.0125 targeting areas of 0.9400.
Support 0.9895 0.9855 0.9805 0.9770 0.9735
Resistance 0.9935 0.9980 1.0000 1.0040 1.0095
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9935 targeting 0.9895, 0.9855 then 0.9805 and stop loss with four-hour closing above 1.0000 might be appropriate
AUD/USD
Areas of 1.0480 is still a barrier against the pair that weakened the upside momentum, and that adds further strength to 1.0505 areas if reached. We will not rush into taking a position on the pair as the harmonic formation completes at 1.0505 or fails, and therefore we remain neutral for now.
The trading range for today is among the key support at 1.0385 and key resistance at 1.0565.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0460 1.0440 1.0420 1.0385 1.0330
Resistance 1.0505 1.0565 1.0590 1.0610 1.0645
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
NZD/USD
Areas of 1.0480 is still a barrier against the pair that weakened the upside momentum, and that adds further strength to 1.0505 areas if reached. We will not rush into taking a position on the pair as the harmonic formation completes at 1.0505 or fails, and therefore we remain neutral for now.
The trading range for today is among the key support at 1.0385 and key resistance at 1.0565.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0460 1.0440 1.0420 1.0385 1.0330
Resistance 1.0505 1.0565 1.0590 1.0610 1.0645
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
As we anticipated this morning, the pair has showed some kind of fluctuation due to the overbought sign appearing on momentum indicator. Anyway, the trading range is still very tight and we should witness a sustained breakout above 1.2995-1.30 zones to join bulls; whilst a break below 1.2860-1.2845 and preferably below 1.2825 areas will bring the bearish picture back into focus.
The trading range for today is among key support at 1.2825 and key resistance at 1.3145.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.2935 1.2915 1.2890 1.2845 1.2825
Resistance 1.2975 1.3000 1.3055 1.3070 1.3110
Recommendation Based on the charts and explanations above our opinion is, buying the pair above 1.2995 targeting 1.3140 and stop loss below 1.2860 might be appropriate.
GBP/USD
The technical situation remains very sensitive due to facing the upper line of the descending channel. In the interim, Stochastic continued to move within overbought territories and that contradicts with the positivity on Vortex indicator. Accordingly, we prefer to stand aside for the rest of the day; noting that a break below 1.6000 could be a negative indication.
The trading range for today is among key support at 1.5850 and key resistance at 1.6180.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
Support 1.6000 1.5975 1.5960 1.5925 1.5880
Resistance 1.6050 1.6075 1.6100 1.6125 1.6165
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 has been trading within a narrow range after experiencing one of the initial resistances at 81.25-82.30 while RSI 14 is still valued at the value of 70.00. We still expect a pullback towards 81.50 boundaries at least to relieve momentum indicator coming below 82.00 will accelerate the awaited correction.
The trading range for today is among key support at 80.75 and key resistance now at 83.20.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 81.80 81.50 81.25 81.00 80.75
Resistance 82.25 82.50 83.00 83.20 83.65
Recommendation Based on the charts and explanations above our opinion is, selling the pair around 82.50 targeting 81.50 and stop loss above 83.20 might be appropriate.
USD/CHF
The pair reached 0.9305 and couldn’t hold above it keeping the downside bias of the Butterfly Pattern valid. The Linear Regression Indicators are also negative over four-hour basis and therefore we hold onto our expectations.
The trading range for today is among the key support at 0.9130 and key resistance at 0.9370.
The general trend over short term basis is to the downside targeting 0.8860 as far as areas of 0.9775 remains intact.
Support 0.9275 0.9245 0.9200 0.9180 0.9130
Resistance 0.9305 0.9330 0.9370 0.9425 0.9460
Recommendation Our expectations remain valid
USD /CAD
Trading is biased to the downside affected by the failure to hold above 0.9930 which is the first target of the bearish Butterfly Pattern. Stability below this level will extend the downside move taking into consideration the oversold signs on Stochastic that might cause heavy fluctuations.
The trading range for today is among the key support at 0.9805 and key resistance at 1.0040.
The short term trend is expected to the downside with daily closing below 1.0125 targeting areas of 0.9400.
Support 0.9895 0.9855 0.9805 0.9770 0.9735
Resistance 0.9935 0.9980 1.0000 1.0040 1.0095
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9935 targeting 0.9895, 0.9855 then 0.9805 and stop loss with four-hour closing above 1.0000 might be appropriate
AUD/USD
Areas of 1.0480 is still a barrier against the pair that weakened the upside momentum, and that adds further strength to 1.0505 areas if reached. We will not rush into taking a position on the pair as the harmonic formation completes at 1.0505 or fails, and therefore we remain neutral for now.
The trading range for today is among the key support at 1.0385 and key resistance at 1.0565.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0460 1.0440 1.0420 1.0385 1.0330
Resistance 1.0505 1.0565 1.0590 1.0610 1.0645
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
NZD/USD
Areas of 1.0480 is still a barrier against the pair that weakened the upside momentum, and that adds further strength to 1.0505 areas if reached. We will not rush into taking a position on the pair as the harmonic formation completes at 1.0505 or fails, and therefore we remain neutral for now.
The trading range for today is among the key support at 1.0385 and key resistance at 1.0565.
The short term trend is to the downside targeting 0.9400 with steady daily closing below 1.0710.
Support 1.0460 1.0440 1.0420 1.0385 1.0330
Resistance 1.0505 1.0565 1.0590 1.0610 1.0645
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
