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euro



The European currency yesterday rallied also with high levels of volume to pass the major resistance level at 1.4550s and then 1.4600 again to close above 1.4630s. This move came after the euro confirmed the upside direction to set the upside target now at 1.4800 resistance area.

The trading range for today might be between the key resistance level at 1.4800 and the key support level at 1.4530.

The general trend is up as far as 1. 3860 remains intact targets now at 1.4760 and 1.4930.


Support 1.4620 1.4600 1.4585 1.4560 1.4540
Resistance 1.4645 1.4667 1.4685 1.4710 1.4734

Recommendation
We expect buying Euro above 1.4610 with a target at 1.4710 stop loss below 1.4560.

gbp



The British pound yesterday further confirmed the bullish trend after the technical oscillators moved to show the bullish pattern; after the pound rallied in a strong pattern to the upside resistance area around 1.9960s, today we expect the pound to progress towards the key resistance level at 2.0080s.

The trading range for today might be between the key resistance levels at 2.0100and the key support level at 1.9850.

The general trend is up as far as 1.9800 remains intact targets now at 2.0940 and 2.1050.


Support 1.9930 1.9918 1.9888 1.9861 1.9830
Resistance 1.9960 1.9990 2.0020 2.0045 2.0084

Recommendation
We expect buying sterling above 1.9920 with a target at 2.0045, stop loss below 1.9850.

jpy



The dollar against the Japanese yen tended to move down in a strong move with high levels of volume despite the slight bullish move at the beginning of the trading session; in the meanwhile the technical indicators readjusted to show the downside move until the key support area at 112.80s.

The trading range for today will be between the key resistance at 114.60 and the key support at 112. 20.


The general trend is down as far as 121.30 remains intact, targets at 112.40 and 111.20.


Support 113.35 113.05 112.85 112.55 112.35
Resistance 113.85 114.05 114.27 114.48 114.70

Recommendation
We expect selling USD/JPY below 113.85 with a target at 113.00, stop loss above 114.35.

chf



The dollar against the SWISS Frank dropped down in a major move yesterday after it breached the significant support area around 1.1470s to reach to the key lower support at 1.1360s; today and with the bearish pattern we expect the pair to progress in the downside direction.

The trading range for today will be between the key resistances at 1.1500 the key support at 1.1240.

The general trend is down as far as 1.2020 remains intact, targets at 1.1445 and 1.1230.


Support 1.1350 1.1335 1.1303 1.1287 1.1269
Resistance 1.1380 1.1400 1.1416 1.1436 1.1458

Recommendation
We expect selling USD/CHF below 1.1400 with a target at 1.1290, stop loss above 1.1460.

cad



The dollar against the Canadian dollar yesterday fluctuated with tendency to the downside direction; while the technical directional studies still show the downside path as long as the pair stays below the main resistance level at 0.9900.

The trading range for today will be between the key resistance at 0.9930 and the key support at 0.9700.


The general trend is down as far as 1.0450 remains intact, targets will be at 0.9000 and 0.8880.


Support 0.9789 0.9757 0.9732 0.9713 0.9700
Resistance 0.9815 0.9826 0.9857 0.9883 0.9903

Recommendation
We expect selling USD/CAD below 0.9835 with a target at 0.9765, stop loss above 0.9880.

source http://www.crownforex.com/en/newscenter-major_analysis_tech.aspx