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EUR/USD
The pair moved to the upside to breach the key support level of the sideways range as shown on the chart threatening the suggested scenario of a possible downside correction. Stochastic shows overbought signals and areas of 1.3170 level remains stable; accordingly we remain neutral in our report waiting for more confirmations.
The trading range for today is among key support at 1.2905 and key resistance at 1.3235 .
The general trend over short term basis is negative targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.3095 1.3065 1.3030 1.3000 1.2975
Resistance 1.3120 1.3155 1.3170 1.3200 1.3235
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
GBP/USD
Stability above the resistance that turned into support at 1.6065 maintains the positive bias for the pair and Linear Regression Indicators are trading positively supporting the possibility of extending the upside move. Stochastic touched levels around 30 and is trying to move to the upside which is in the interest of extending the upside move.
The trading range for today is among the key support at 1.5910 and key resistance at 1.6265.
The general trend over short term basis is to the downside targeting 1.6875 as far as areas of 1.4225 remain intact.
Support 1.6100 1.6065 1.6020 1.6000 1.5975
Resistance 1.6165 1.6225 1.6265 1.6310 1.6360
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.6100 targeting 1.6165, 1.6225 then 1.6265 and stop-loss with four-hour closing below 1.6020 might be appropriate
USD/JPY
The pair dropped touching levels close to the second suggested target suggested yesterday; the pair turned slightly higher but remains stable below 82.65 keeping the possibility of a downside. Generally, breaching 81.60 will form a clearer downside wave affected by the suggested harmonic formation.
The trading range for today is among key support at 81.45 and key resistance at 83.35.
The general trend over short term basis is to the upside at levels 75.20 targeting 87.45.
Support 82.00 81.80 81.60 81.45 81.25
Resistance 82.25 82.40 82.80 83.00 83.35
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 82.25 targeting 82.00, 81.60 then 81.00 and stop-loss with four-hour closing above 82.80 might be appropriate
USD/CHF
The pair failed to stabilize above 0.9275 and stability below it confirms the extension of the bearish Butterfly Harmonic Pattern. Therefore, we are expecting a new downside attempt , but breaching 0.9245 is important to trade below Linear Regression Indicators.
The trading range for today is among key support at 0.9130 and key resistance at 0.9395.
The general trend over short term basis is to the downside at levels 0.9775 targeting 0.8860.
Support 0.9245 0.9200 0.9180 0.9160 0.9130
Resistance 0.9275 0.9305 0.9330 0.9370 0.9395
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9275 targeting 0.9245, 0.9180 then 0.9130 and stop-loss with four-hour closing above 0.9370 might be appropriate
USD /CAD
Returning below 0.9930 revives the effect of the bearish Butterfly Harmonic Pattern, Relative Strength Index is back trading below 50 and the pair is trying to prove stability below Linear Regression Indicators. Therefore, the pair returned to negativity as we may see the pair trying to reach the second target of the harmonic pattern at 0.9855.
The trading range for today is among key support at 0.9800 and key resistance at 1.0040.
The general trend over short term basis is to the downside at levels 1.0125 targeting 0.9400.
Support 0.9930 0.9900 0.9880 0.9855 0.9800
Resistance 0.9950 0.9980 1.0000 1.0040 1.0095
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9930 targeting 0.9855, 0.9805 then 0.9735 and stop-loss with four-hour closing above 1.0000 might be appropriate
AUD/USD
As shown on the chart, we might see a possible double harmonic technical formation between 1.0555 and 1.0565 levels, then we are in front of a Butterfly Pattern and AB=CD Harmonic Pattern. Stability above Linear Regression Indicators is positive for the pair despite the negative signals on Stochastic, but trading above 1.0390 may extend the upside move over intraday basis.
The trading range for today is among key support at 1.0370 and key resistance at 1.0565.
The general trend over short term basis is to the downside below levels 1.0710 targeting 0.9400.
Support 1.0450 1.0430 1.0410 1.0390 1.0370
Resistance 1.0485 1.0505 1.0530 1.0565 1.0615
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.0450 targeting 1.0505, 1.0530 then 1.0560 and stop-loss pair with four-hour closing below 1.0390 might be appropriate
NZD/USD
The pair continues to rise gradually as it is trading below the descending trend line of the sideways correctional formation shown on the chart at 0.8270. Returning below 0.8230 again may trigger a new bearish wave yet we should remain cautious until the pair confirms the breach.
The trading range for today is among key support at 0.8135 and key resistance at 0.8355.
The general trend over short term basis is to the upside above 0.7930 targeting 0.8400.
Support 0.8220 0.8205 0.8190 0.8160 0.8135
Resistance 0.8255 0.8270 0.8285 0.8305 0.8355
Recommendation Based on the charts and explanations above, our opinion is selling the pair with four-hour closing below 0.8230 targeting 0.8200, 0.8160 then 0.8135 and stop-loss pair with four-hour closing above 0.8285 might be appropriate
The pair moved to the upside to breach the key support level of the sideways range as shown on the chart threatening the suggested scenario of a possible downside correction. Stochastic shows overbought signals and areas of 1.3170 level remains stable; accordingly we remain neutral in our report waiting for more confirmations.
The trading range for today is among key support at 1.2905 and key resistance at 1.3235 .
The general trend over short term basis is negative targeting 1.1865 as far as areas of 1.3550 remain intact.
Support 1.3095 1.3065 1.3030 1.3000 1.2975
Resistance 1.3120 1.3155 1.3170 1.3200 1.3235
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
GBP/USD
Stability above the resistance that turned into support at 1.6065 maintains the positive bias for the pair and Linear Regression Indicators are trading positively supporting the possibility of extending the upside move. Stochastic touched levels around 30 and is trying to move to the upside which is in the interest of extending the upside move.
The trading range for today is among the key support at 1.5910 and key resistance at 1.6265.
The general trend over short term basis is to the downside targeting 1.6875 as far as areas of 1.4225 remain intact.
Support 1.6100 1.6065 1.6020 1.6000 1.5975
Resistance 1.6165 1.6225 1.6265 1.6310 1.6360
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.6100 targeting 1.6165, 1.6225 then 1.6265 and stop-loss with four-hour closing below 1.6020 might be appropriate
USD/JPY
The pair dropped touching levels close to the second suggested target suggested yesterday; the pair turned slightly higher but remains stable below 82.65 keeping the possibility of a downside. Generally, breaching 81.60 will form a clearer downside wave affected by the suggested harmonic formation.
The trading range for today is among key support at 81.45 and key resistance at 83.35.
The general trend over short term basis is to the upside at levels 75.20 targeting 87.45.
Support 82.00 81.80 81.60 81.45 81.25
Resistance 82.25 82.40 82.80 83.00 83.35
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 82.25 targeting 82.00, 81.60 then 81.00 and stop-loss with four-hour closing above 82.80 might be appropriate
USD/CHF
The pair failed to stabilize above 0.9275 and stability below it confirms the extension of the bearish Butterfly Harmonic Pattern. Therefore, we are expecting a new downside attempt , but breaching 0.9245 is important to trade below Linear Regression Indicators.
The trading range for today is among key support at 0.9130 and key resistance at 0.9395.
The general trend over short term basis is to the downside at levels 0.9775 targeting 0.8860.
Support 0.9245 0.9200 0.9180 0.9160 0.9130
Resistance 0.9275 0.9305 0.9330 0.9370 0.9395
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9275 targeting 0.9245, 0.9180 then 0.9130 and stop-loss with four-hour closing above 0.9370 might be appropriate
USD /CAD
Returning below 0.9930 revives the effect of the bearish Butterfly Harmonic Pattern, Relative Strength Index is back trading below 50 and the pair is trying to prove stability below Linear Regression Indicators. Therefore, the pair returned to negativity as we may see the pair trying to reach the second target of the harmonic pattern at 0.9855.
The trading range for today is among key support at 0.9800 and key resistance at 1.0040.
The general trend over short term basis is to the downside at levels 1.0125 targeting 0.9400.
Support 0.9930 0.9900 0.9880 0.9855 0.9800
Resistance 0.9950 0.9980 1.0000 1.0040 1.0095
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9930 targeting 0.9855, 0.9805 then 0.9735 and stop-loss with four-hour closing above 1.0000 might be appropriate
AUD/USD
As shown on the chart, we might see a possible double harmonic technical formation between 1.0555 and 1.0565 levels, then we are in front of a Butterfly Pattern and AB=CD Harmonic Pattern. Stability above Linear Regression Indicators is positive for the pair despite the negative signals on Stochastic, but trading above 1.0390 may extend the upside move over intraday basis.
The trading range for today is among key support at 1.0370 and key resistance at 1.0565.
The general trend over short term basis is to the downside below levels 1.0710 targeting 0.9400.
Support 1.0450 1.0430 1.0410 1.0390 1.0370
Resistance 1.0485 1.0505 1.0530 1.0565 1.0615
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.0450 targeting 1.0505, 1.0530 then 1.0560 and stop-loss pair with four-hour closing below 1.0390 might be appropriate
NZD/USD
The pair continues to rise gradually as it is trading below the descending trend line of the sideways correctional formation shown on the chart at 0.8270. Returning below 0.8230 again may trigger a new bearish wave yet we should remain cautious until the pair confirms the breach.
The trading range for today is among key support at 0.8135 and key resistance at 0.8355.
The general trend over short term basis is to the upside above 0.7930 targeting 0.8400.
Support 0.8220 0.8205 0.8190 0.8160 0.8135
Resistance 0.8255 0.8270 0.8285 0.8305 0.8355
Recommendation Based on the charts and explanations above, our opinion is selling the pair with four-hour closing below 0.8230 targeting 0.8200, 0.8160 then 0.8135 and stop-loss pair with four-hour closing above 0.8285 might be appropriate
