Euro
Midday Report
The pair has attempted once again to breach the pivotal support at 1.2680 pushing strongly to the upside; whereas 1.2730 stands as a strong barrier in front of the pair. We hold onto our morning expectations as long as a base is built below 1.2775.
The trading range for today is among the key support at 1.2520 and the key resistance at 1.2775.
The short term trend is to the downside as far as 1.3770 remains intact with targets at 1.1700.
Morning Report
Weekly Report
| Support | 1.2680 | 1.2625 | 1.2600 | 1.2570 | 1.2520 |
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| Resistance | 1.2730 | 1.2775 | 1.2830 | 1.2900 | 1.2950 |
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| Recommendation | Our morning expectation remains valid. |
Great British Pound (GBP)
Midday Report
The pair sharply descended with the last four-hour closing below the pivotal support at 1.5410; thus, offering a chance to resume the bearish short term direction mentioned this morning. We recommend observing the daily closing for the support at 1.5410 and resistance 1.5555 in order to confirm the upcoming direction, specifically since Stochastic was able to unload the negative momentum that may cause this fluctuation and a bullish bias.
The trading range for today is among the key support at 1.5290 and the key resistance at 1.5620.
The short term trend is to the downside as far as 1.6070 remains intact with targets at 1.3800.
Morning Report
Weekly Report
| Support | 1.5350 | 1.5295 | 1.5230 | 1.5180 | 1.5125 |
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| Resistance | 1.5410 | 1.5500 | 1.5555 | 1.5585 | 1.5650 |
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| Recommendation | Based on the charts and explanation above our opinion is observing the pair’s movement to insure its upcoming direction. |
Japanese Yen (JPY)
Midday Report
The pair is trading within a narrow range since this morning, where it is gradually unloading the negative momentum shown over four-hour basis above. We still await for a base to be built on the retest level 84.05 to start the expected bearish intraday direction towards the suggested targets, which requires four hour closing below 84.05.
The trading range for today is among the key support at 81.60 and the key resistance at 85.05.
The short term trend is to the downside as far as 91.55 remains intact with targets at 79.60.
| Support | 83.30 | 83.00 | 82.40 | 82.00 | 81.60 |
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| Resistance | 84.05 | 84.75 | 85.10 | 85.90 | 86.35 |
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| Recommendation | Based on the charts and explanations above our opinion is selling the pair around 84.05 targeting 82.40 and stop loss above 85.05, might be appropriate. |
Swiss Franc (CHF)
Midday Report
The pair strongly rushed to the upside before retesting the awaited level at 1.0060, where it has currently touched the 50 MA accompanied by overbought signs on momentum indicators. This could force the pair so descend before continuing the way towards the resistance for the bearish channel around 1.0210. From here, we hold onto morning expectations if we do not witness four-hour closing below 1.0060.
The trading range for today is among the key support at 0.9955 and the key resistance at 1.0210.
The short term trend is to the upside as far as 0.9955 remains intact with targets at 1.1120.
| Support | 1.0060 | 1.0010 | 0.9955 | 0.9915 | 0.9880 |
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| Resistance | 1.0140 | 1.0210 | 1.0305 | 1.0365 | 1.0420 |
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| Recommendation | Based on the charts and explanations above our opinion is buying the pair around 1.0060 targeting 1.0210 and stop loss below 0.9955, might be appropriate. |
Canadian Dollar (CAD)
Midday Report
The pair is attacking the pivotal support at 1.0345 once again in an attempt to break through and pave the way towards resuming the bearish trend, which has started to form after breaching the previous bullish channel. We are still awaiting for the daily closing for pivotal levels mentioned in our morning report for more details regarding the future direction.
The trading range for today is among the key support at 1.0245 and the key resistance at 1.0505.
The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.
| Support | 1.0345 | 1.0315 | 1.0245 | 1.0190 | 1.0135 |
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| Resistance | 1.0405 | 1.0465 | 1.0505 | 1.0565 | 1.0595 |
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| Recommendation | Based on the charts and explanation above our opinion is observing the pair’s movement to insure its upcoming direction. |