Euro
Midday Report
The pair pushed upwards without the need base on the support mentioned this morning, nearing primary targets between 1.3800 – 1.3835. Momentum indicators are showing clear negative signs that could pressure the pair to attempt a bearish correction to retest the breached resistance at 1.3700 before continuing the expected bullish direction over intraday basis; four-hour closings should remain above 1.3700 for the expectations to prevail.
The trading range for today is among the key support at 1.3580 and the key resistance at 1.3830.
The general trend is to the upside if we do not witness a daily close below 1.3485 with targets at 1.5150.
Morning Report Weekly Report
| Support | 1.3700 | 1.3635 | 1.3580 | 1.3525 | 1.3485 |
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| Resistance | 1.3800 | 1.3835 | 1.3890 | 1.3920 | 1.4000 |
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| Recommendation | Based on the charts and explanations above our opinion is buying the pair from 1.3700 targeting 1.3800 and stop loss below 1.3635, might be appropriate. |
Great British Pound (GBP)
Midday Report
The pair settled with building a base on 1.5020 to head upwards within the minor ascending channel reaching the vital resistance currently at 1.5210. Momentum indicators are entering overbought areas that point to possible natural trading within the current channel; therefore we might witness a minor bearish movement that will touch 1.5065 followed by a bullish rebound that resumes the expected bullish direction for today; targets extend towards 1.5270 then 1.5345. The breach of 1.5210 and will accelerate the expected bullish direction, while the breach of 1.4990 will weaken the expected scenario.
The trading range for today is among the key support at 1.4990 and the key resistance at 1.5270.
The general trend is to the upside as far as 1.4850 remains intact with targets at 1.7000.
Morning Report Weekly Report
More Technical Analysis
| Support | 1.5065 | 1.4990 | 1.4900 | 1.4850 | 1.4795 |
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| Resistance | 1.5210 | 1.5270 | 1.5345 | 1.5385 | 1.5420 |
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| Recommendation | Based on the charts and explanations above our opinion is buying the pair from 1.5065 targeting 1.5210 and stop loss below 1.4990, might be appropriate. |
Japanese Yen (JPY)
Midday Report
The pair is facing difficulty in surpassing the pivotal resistance mentioned this morning at 90.60, bearishly reversing yet the 200 MA continues protecting the present bullish wave. Stochastic is nearing oversold areas, encouraging us to maintain our morning expectations, which require four-hour closing to essentially remain above 90.05.
The trading range for today is among the key support at 89.65 and the key resistance at 91.60.
The general trend is to the downside as far as 101.65 remains intact with targets at 82.60.
Morning Report Weekly Report
| Support | 90.00 | 89.65 | 89.35 | 88.70 | 88.20 |
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| Resistance | 90.60 | 91.20 | 91.60 | 92.15 | 92.40 |
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| Recommendation | Based on the charts and explanations above our opinion is buying the pair with the breach of 90.60 target 91.60 and stop loss below 90.00, might be appropriate. |
Swiss Franc (CHF)
Midday Report
The pair succeeded in touching the first awaited target at the support level for the descending channel at 1.0575, to start a minor bullish correction, due to positive signs on momentum indicators. We expected fluctuation and a minor bullish correction before resuming the bearish intraday move; the move requires the breach of the support mentioned above targeting 1.0535 then 1.0460. Trading should remaining below 1.0670 to insure the expected bearish direction for today, whereas the short term bearish wave will prevail if 1.0775 remains intact.
The trading range for today is among the key support at 1.0535 and the key resistance at 1.0805.
The general trend is to the downside as far as 1.1095 remains intact with targets at 0.9910.
Morning Report Weekly Report
| Support | 1.0575 | 1.0535 | 1.0460 | 1.0400 | 1.0360 |
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| Resistance | 1.0605 | 1.0670 | 1.0730 | 1.0775 | 1.0805 |
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| Recommendation | Based on the charts and explanations above our opinion is selling the pair with the breach of 1.0575 targeting 1.0460 and stop loss above 1.0670, might be appropriate. |
Canadian Dollar (CAD)
Midday Report
The pair strongly breached the support for the descending channel at 1.0200, after the Canadian unemployment data that is helping accelerate the expected bearish direction for today. From here, we await more possible bearish movement; where upcoming targets are around 1.0080. Trading must remaining below 1.0310 to insure achieving awaited targets for today.
The trading range for today is among the key support at 1.0080 and the key resistance at 1.0365.
The general trend is to the downside as far as 1.0780 remains intact with targets at 1.0000.
Morning Report Weekly Report
More Technical Analysis
| Support | 1.0150 | 1.0080 | 1.0000 | 0.9970 | 0.9925 |
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| Resistance | 1.0200 | 1.0250 | 1.0290 | 1.0365 | 1.0405 |
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| Recommendation | Based on the charts and explanations above our opinion is selling the pair from 1.0200 targeting 1.0080 and stop loss above 1.0290, might be appropriate. |