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EUR/USD
The EUR/USD pair has showed bearish tendencies during the previous session, influenced by the overbought sign on Stochastic. All what we need now is to witness a daily closing below 61.8% Fibonacci to join bears. Of note, the contrarian between momentum and trend indicator is still appearing clearly of the graph but it might be negated with the aforementioned closing. Anyway, we remain neutral for the rest of the day.
The trading range for today is among key support at 1.2760 and key resistance at 1.3070.
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 1.2790 1.2760
Resistance 1.2950 1.2975 1.3000 1.3055 1.3070
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
The pair continued to move lower during the previous session attempting to take out the psychological level of 1.60 decisively. We hold onto our bearish predictions for the rest of the day supported by the negativity on Stochastic; whilst a break below 1.5975 will accelerate and confirm.
The trading range for today is among key support at 1.5820 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 1.5975 1.5960 1.5925 1.5880 1.5850
Resistance 1.6025 1.6065 1.6075 1.6100 1.6125
Recommendation Our morning expectations remain valid.
USD/JPY
Following the bearishness seen during the Asian session today, the pair started to move slowly while approaching the key Fibonacci support of 81.50. This level should be watched out very carefully is the pair succeeds in reaching it. As for now, we keep our bearish scenario intact for the rest of the day since risk versus reward ratio is high for intraday traders. Note that, a break below 81.50 may bring aggressive bearish actions over upcoming hours.
The trading range for today is among key support at 80.75 and key resistance now at 82.80.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 81.50 81.20 81.00 80.75 80.65
Resistance 82.00 82.25 82.50 82.80 83.00
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 slight rise cannot confirm the extension of the upside move and the end of the bearish Butterfly Pattern effect, as the pair remains stable below important areas such as the second target of the pattern at 0.9365 represented in 61.8% correction. Therefore, we remain neutral today waiting for a confirmation signal.
The trading range for today is among the key support at 0.9130 and key resistance at 0.9395.
The general trend over short term basis is to the downside targeting 0.8860 as far as areas of 0.9775 remains intact.
Support 0.9305 0.9275 0.9245 0.9200 0.9180
Resistance 0.9330 0.9370 0.9395 0.9425 0.9460
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move.
USD/CAD
The pair consolidated at 38.2% correction representing the first target of the bearish Harmonic Butterfly Pattern, Stochastic shows positive signals as well. However, Linear Regression Indicators are still restricting the extension of the upside move as the pair didn’t prove the end of the bearish harmonic pattern; therefore, we remain neutral.
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 0.9935 0.9895 0.9855 0.9805 0.9770
Resistance 0.9980 1.0000 1.0040 1.0095 1.0100
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move.
AUD/USD
The pair dropped affected by the Bearish Harmonic Butterfly Pattern, where we find it close again to the first target around 1.0430 and by breaching it we might see the extension of the downside move. However, as long as the pair stabilized below 1.0505 we whold onto our previous expectations.
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 1.0430 1.0410 1.0395 1.0370 1.0330
Resistance 1.0485 1.0505 1.0565 1.0590 1.0610
Recommendation Our expectations remain valid.
NZD/USD
The pair stabilized around the neckline of the technical formation close to an inverted Head and Shoulders Pattern. However, we remain positive as long as the pair holds above 0.8185 during today’s session.
The trading range for today is expected among the key support at 0.8135 and resistance at 0.8305 .
The short term trend is to the upside targeting 0.8400 with steady daily closing above 0.7930.
Support 0.8205 0.8185 0.8155 0.8135 0.8100
Resistance 0.8230 0.8255 0.8285 0.8305 0.8355
Recommendation Our expectations remain valid.
The EUR/USD pair has showed bearish tendencies during the previous session, influenced by the overbought sign on Stochastic. All what we need now is to witness a daily closing below 61.8% Fibonacci to join bears. Of note, the contrarian between momentum and trend indicator is still appearing clearly of the graph but it might be negated with the aforementioned closing. Anyway, we remain neutral for the rest of the day.
The trading range for today is among key support at 1.2760 and key resistance at 1.3070.
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 1.2790 1.2760
Resistance 1.2950 1.2975 1.3000 1.3055 1.3070
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
The pair continued to move lower during the previous session attempting to take out the psychological level of 1.60 decisively. We hold onto our bearish predictions for the rest of the day supported by the negativity on Stochastic; whilst a break below 1.5975 will accelerate and confirm.
The trading range for today is among key support at 1.5820 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 1.5975 1.5960 1.5925 1.5880 1.5850
Resistance 1.6025 1.6065 1.6075 1.6100 1.6125
Recommendation Our morning expectations remain valid.
USD/JPY
Following the bearishness seen during the Asian session today, the pair started to move slowly while approaching the key Fibonacci support of 81.50. This level should be watched out very carefully is the pair succeeds in reaching it. As for now, we keep our bearish scenario intact for the rest of the day since risk versus reward ratio is high for intraday traders. Note that, a break below 81.50 may bring aggressive bearish actions over upcoming hours.
The trading range for today is among key support at 80.75 and key resistance now at 82.80.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Support 81.50 81.20 81.00 80.75 80.65
Resistance 82.00 82.25 82.50 82.80 83.00
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 slight rise cannot confirm the extension of the upside move and the end of the bearish Butterfly Pattern effect, as the pair remains stable below important areas such as the second target of the pattern at 0.9365 represented in 61.8% correction. Therefore, we remain neutral today waiting for a confirmation signal.
The trading range for today is among the key support at 0.9130 and key resistance at 0.9395.
The general trend over short term basis is to the downside targeting 0.8860 as far as areas of 0.9775 remains intact.
Support 0.9305 0.9275 0.9245 0.9200 0.9180
Resistance 0.9330 0.9370 0.9395 0.9425 0.9460
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move.
USD/CAD
The pair consolidated at 38.2% correction representing the first target of the bearish Harmonic Butterfly Pattern, Stochastic shows positive signals as well. However, Linear Regression Indicators are still restricting the extension of the upside move as the pair didn’t prove the end of the bearish harmonic pattern; therefore, we remain neutral.
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 0.9935 0.9895 0.9855 0.9805 0.9770
Resistance 0.9980 1.0000 1.0040 1.0095 1.0100
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move.
AUD/USD
The pair dropped affected by the Bearish Harmonic Butterfly Pattern, where we find it close again to the first target around 1.0430 and by breaching it we might see the extension of the downside move. However, as long as the pair stabilized below 1.0505 we whold onto our previous expectations.
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 1.0430 1.0410 1.0395 1.0370 1.0330
Resistance 1.0485 1.0505 1.0565 1.0590 1.0610
Recommendation Our expectations remain valid.
NZD/USD
The pair stabilized around the neckline of the technical formation close to an inverted Head and Shoulders Pattern. However, we remain positive as long as the pair holds above 0.8185 during today’s session.
The trading range for today is expected among the key support at 0.8135 and resistance at 0.8305 .
The short term trend is to the upside targeting 0.8400 with steady daily closing above 0.7930.
Support 0.8205 0.8185 0.8155 0.8135 0.8100
Resistance 0.8230 0.8255 0.8285 0.8305 0.8355
Recommendation Our expectations remain valid.
