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EUR/USD
EURUSD kick started trading this week above the ascending key support level, as the pair failed to break the support on Friday and remained stable above 1.2970. Stability above the mentioned level might trigger a bullish wave this week, while breaking it could trigger a new downside driving the pair again to test previous lows around 1.2796.
- The trading range for this week is among the key support at 1.2725 and key resistance at 1.3230.
- The general trend over short term basis is to the upside targeting 1.3600 as far as areas of 1.2970 remains intact.
Support 1.3000 1.2970 1.2945 1.2905 1.2880
Resistance 1.3080 1.3115 1.3165 1.3230 1.3275
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.3000 targeting 1.3080, 1.3165 then 1.3230 and stop-loss at four-hour closing below 1.2970. In case of stop-loss, sell the pair below 1.2970 targeting 1.2905, 1.2845 and 1.2780 and stop-loss at four-hour closing above 1.3030 might be appropriate this week
GBP/USD
The pair touched 78.6% correction around 1.5165 levels last week then rebounded to the upside with the beginning of this week. The pair might retest 1.5165, but Stochastic shows oversold signals indicating the possibility of a bullish rebound as long as 88.6% correction at 1.5090 remains intact.-
- The trading range for this week is among key support at 1.4940 and key resistance at 1.5475.
- The general trend over short term basis is to the upside as far as areas of 1.5150 remains intacttargeting 1.5975.
Support 1.5200 1.5185 1.5165 1.5110 1.5080
Resistance 1.5265 1.5305 1.5380 1.5425 1.5475
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.5200 targeting 1.5265, 1.5305 then 1.5375 and stop-loss at four-hour closing below 1.5380 might be appropriate
USD/JPY
The pair started this week by stabilizing above 50% correction at 98.75 levels and above Linear Regression Indicators. Stability above the mentioned level might extend the upside move. The extension of bullishness depends on the breach of 99.95, where a breach of which will trigger a new bullish wave towards 78.6% correction at 101.60. Momentum indicators offer overbought signals that might increase volatility and perhaps some bearish correction, but we will ignore these signals unless the pair stabilizes below 98.00.
- The trading range for this week is among key support at 96.70 and key resistance at 102.60.
- The general trend over short term basis is to the downside as far as areas of 103.50 remain intact targeting 93.50.
Support 99.30 99.00 98.75 98.45 98.00
Resistance 99.95 100.35 100.85 101.15 101.60
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 99.30 targeting 99.95, 100.85 then 101.60 and stop-loss at four-hour closing below 98.45 might be appropriate this week
USD/CHF
The pair touched 50% correction of CD Leg of the Alternative bullish Bat Pattern and is now stable above the first target of the pattern represented in 38.2% correction at 0.9400. Trading above 0.9400 forces to keep our positive expectations, whereas the technical harmonic analysis rules indicate that stability above the first target will push the pair toward the second target which in our case resides at 0.9570 at 61.8% correction.
- The trading range for this week is among key support at 0.9300 and key resistance at 0.9690.
- The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860.
Support 0.9425 0.9400 0.9370 0.9325 0.9300
Resistance 0.9485 0.9515 0.9570 0.9610 0.9680
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.9425 targeting 0.9485, 0.9515 then 0.9570 and stop-loss at four-hour closing below 0.9325 might be appropriate this week
USD/CAD
The pair’s attempts to the upside on Friday were halted and failed to stabilize above key resistance level of the ascending channel, keeping the possibility of a bearish correction valid this week. Momentum indicators biased negatively supporting our expectations.
- The trading range for this week is between the key support at 1.0300 and the key resistance at 1.0705.
- The general trend over short term basis is to the upside with steady daily closing above levels 1.0100 targeting 1.0775.
Support 1.0475 1.0455 1.0420 1.0355 1.0310
Resistance 1.0530 1.0595 1.0610 1.0440 1.0680
Recommendation Based on the charts and explanations above, our opinion is selling the pair around 1.0500 targeting 1.0455, 1.0420 then 1.0355 and stop-loss at four-hour closing above 1.0595 might be appropriate this week
AUD/USD
The AUDUSD pair bounced after testing 0.9100 level, meanwhile, Momentum indicators continue to provide strong bullish divergence signals, after being excessively oversold. Accordingly, although the short-term trend remains strongly bearish, there is potential for an upside rebound this week, targeting 0.9325 resistance level. A break below the 0.9090 may signal a continuation of the sell-off.
** Short term ( Less than three months)
** Chart is based on GMT+2 timing
Notes:
*if price reaches more than 80% of target before triggering entry, signal is canceled and not valid anymore.
*Allow for +,- 5 points margin
Support 0.9160 0.9110 0.9090 0.9050 0.9000
Resistance 0.9225 0.9285 0.9325 0.9390 0.9440
Recommendation Based on the charts and explanations above, we prefer to long the pair above 0.9150 targeting 0.9225 and 0.9320. Stop loss below 0.9090
NZD/USD
The NZDUSD pair rebounded with the start of the week, if we see a continuation of the ongoing bounce and a break above 0.8750 level that would confirm a short term bottom, as price will complete a double bottom pattern. RSI is showing a bullish divergence, supporting the bullish rebound scenario; however we prefer to wait for a break above 0.8750 to confirm a move higher for the week.
** Short term ( Less than three months)
** Chart is based on GMT+2 timing
Notes:
*if price reaches more than 80% of target before triggering entry, signal is canceled and not valid anymore.
*Allow for +,- 5 points margin
Support 0.7700 0.7665 0.7620 0.7600 0.7520
Resistance 0.7780 0.7825 0.7860 0.7900 0.7945
Recommendation Based on the charts and explanations above, we prefer to be neutral
EURUSD kick started trading this week above the ascending key support level, as the pair failed to break the support on Friday and remained stable above 1.2970. Stability above the mentioned level might trigger a bullish wave this week, while breaking it could trigger a new downside driving the pair again to test previous lows around 1.2796.
- The trading range for this week is among the key support at 1.2725 and key resistance at 1.3230.
- The general trend over short term basis is to the upside targeting 1.3600 as far as areas of 1.2970 remains intact.
Support 1.3000 1.2970 1.2945 1.2905 1.2880
Resistance 1.3080 1.3115 1.3165 1.3230 1.3275
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.3000 targeting 1.3080, 1.3165 then 1.3230 and stop-loss at four-hour closing below 1.2970. In case of stop-loss, sell the pair below 1.2970 targeting 1.2905, 1.2845 and 1.2780 and stop-loss at four-hour closing above 1.3030 might be appropriate this week
GBP/USD
The pair touched 78.6% correction around 1.5165 levels last week then rebounded to the upside with the beginning of this week. The pair might retest 1.5165, but Stochastic shows oversold signals indicating the possibility of a bullish rebound as long as 88.6% correction at 1.5090 remains intact.-
- The trading range for this week is among key support at 1.4940 and key resistance at 1.5475.
- The general trend over short term basis is to the upside as far as areas of 1.5150 remains intacttargeting 1.5975.
Support 1.5200 1.5185 1.5165 1.5110 1.5080
Resistance 1.5265 1.5305 1.5380 1.5425 1.5475
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.5200 targeting 1.5265, 1.5305 then 1.5375 and stop-loss at four-hour closing below 1.5380 might be appropriate
USD/JPY
The pair started this week by stabilizing above 50% correction at 98.75 levels and above Linear Regression Indicators. Stability above the mentioned level might extend the upside move. The extension of bullishness depends on the breach of 99.95, where a breach of which will trigger a new bullish wave towards 78.6% correction at 101.60. Momentum indicators offer overbought signals that might increase volatility and perhaps some bearish correction, but we will ignore these signals unless the pair stabilizes below 98.00.
- The trading range for this week is among key support at 96.70 and key resistance at 102.60.
- The general trend over short term basis is to the downside as far as areas of 103.50 remain intact targeting 93.50.
Support 99.30 99.00 98.75 98.45 98.00
Resistance 99.95 100.35 100.85 101.15 101.60
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 99.30 targeting 99.95, 100.85 then 101.60 and stop-loss at four-hour closing below 98.45 might be appropriate this week
USD/CHF
The pair touched 50% correction of CD Leg of the Alternative bullish Bat Pattern and is now stable above the first target of the pattern represented in 38.2% correction at 0.9400. Trading above 0.9400 forces to keep our positive expectations, whereas the technical harmonic analysis rules indicate that stability above the first target will push the pair toward the second target which in our case resides at 0.9570 at 61.8% correction.
- The trading range for this week is among key support at 0.9300 and key resistance at 0.9690.
- The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860.
Support 0.9425 0.9400 0.9370 0.9325 0.9300
Resistance 0.9485 0.9515 0.9570 0.9610 0.9680
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.9425 targeting 0.9485, 0.9515 then 0.9570 and stop-loss at four-hour closing below 0.9325 might be appropriate this week
USD/CAD
The pair’s attempts to the upside on Friday were halted and failed to stabilize above key resistance level of the ascending channel, keeping the possibility of a bearish correction valid this week. Momentum indicators biased negatively supporting our expectations.
- The trading range for this week is between the key support at 1.0300 and the key resistance at 1.0705.
- The general trend over short term basis is to the upside with steady daily closing above levels 1.0100 targeting 1.0775.
Support 1.0475 1.0455 1.0420 1.0355 1.0310
Resistance 1.0530 1.0595 1.0610 1.0440 1.0680
Recommendation Based on the charts and explanations above, our opinion is selling the pair around 1.0500 targeting 1.0455, 1.0420 then 1.0355 and stop-loss at four-hour closing above 1.0595 might be appropriate this week
AUD/USD
The AUDUSD pair bounced after testing 0.9100 level, meanwhile, Momentum indicators continue to provide strong bullish divergence signals, after being excessively oversold. Accordingly, although the short-term trend remains strongly bearish, there is potential for an upside rebound this week, targeting 0.9325 resistance level. A break below the 0.9090 may signal a continuation of the sell-off.
** Short term ( Less than three months)
** Chart is based on GMT+2 timing
Notes:
*if price reaches more than 80% of target before triggering entry, signal is canceled and not valid anymore.
*Allow for +,- 5 points margin
Support 0.9160 0.9110 0.9090 0.9050 0.9000
Resistance 0.9225 0.9285 0.9325 0.9390 0.9440
Recommendation Based on the charts and explanations above, we prefer to long the pair above 0.9150 targeting 0.9225 and 0.9320. Stop loss below 0.9090
NZD/USD
The NZDUSD pair rebounded with the start of the week, if we see a continuation of the ongoing bounce and a break above 0.8750 level that would confirm a short term bottom, as price will complete a double bottom pattern. RSI is showing a bullish divergence, supporting the bullish rebound scenario; however we prefer to wait for a break above 0.8750 to confirm a move higher for the week.
** Short term ( Less than three months)
** Chart is based on GMT+2 timing
Notes:
*if price reaches more than 80% of target before triggering entry, signal is canceled and not valid anymore.
*Allow for +,- 5 points margin
Support 0.7700 0.7665 0.7620 0.7600 0.7520
Resistance 0.7780 0.7825 0.7860 0.7900 0.7945
Recommendation Based on the charts and explanations above, we prefer to be neutral
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