euro | | The European currency rallied yesterday towards the significant resistance level at 1.4814 with high level of volume breaching the consolidation area that the euro formed during the last session. This move will be very important to show a strong bullish pattern to let the euro overcome its all time high. Today we expect the euro to move in the upside direction.
The trading range for today might be between the key resistance level at 1.4900 and the key support level at 1.4700.
The general trend is up as far as 1. 3860 remains intact targets now at 1.5000 and 1.5230
| | Support | 1.4787 | 1.4760 | 1.4747 | 1.4725 | 1.4706 | | Resistance | 1.4818 | 1.4843 | 1.4865 | 1.4880 | 1.4903 | | Recommendation | We expect buying euro above 1.4780 with a target at 1.4880, stop loss below 1.4740. | |
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| gbp | | The British pound yesterday fluctuated in the downside direction to hit the low at the solid support at 1.9540s regardless the upside direction it was following in the early trading session to hit the high at the key resistance level at 1.9660s. Today, the pound is expected to move to the upside despite the fall seen in the first session.
The trading range for today might be between the key resistance level at 1.9770 and the key support level at 1.9460.
The general trend is up as far as 1.9460 remains intact targets now at 2.1170 and 2.1450
| | Support | 1.9561 | 1.9530 | 1.9516 | 1.9490 | 1.9470 | | Resistance | 1.9588 | 1.9620 | 1.9644 | 1.9667 | 1.9689 | | Recommendation | We expect buying sterling above 1.9600 with a target at 1.9700 stop loss below 1.9540. | |
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| jpy | | The dollar against the Japanese yen yesterday started with a strong bearish move as it failed to pass the major resistance level at 110.10 taking the pair down to hit the low at 109.10 support area. Therefore, we expect the pair to progress towards the downside today after it indicated some bearish signals.
The trading range for today will be between the key resistance at 110.50 and the key support at 106.80.
The general trend is down as far as 121.30 remains intact, targets at 112.40 and 111.20.
| | Support | 108.85 | 108.56 | 108.37 | 108.10 | 107.82 | | Resistance | 109.05 | 109.27 | 109.48 | 109.66 | 109.90 | | Recommendation | We expect selling USD/JPY below 109.65 with a target at 108.60, stop loss above 110.25. | |
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| chf | | The dollar against the SWISS Frank declined yesterday massively to reach the major support level at 1.1000. On the other hand, the technical indicators showed the pair is ready for a key break through in the downside direction until the next support area around 1.0900. Hence, we expect the pair today to move to the downside direction.
The trading range for today will be between the key resistances at 1.1150 the key support at 1.0900.
The general trend is down as far as 1.2020 remains intact, targets at 1.0900 and 1.0740.
| | Support | 1.1045 | 1.1025 | 1.1006 | 1.0987 | 1.0969 | | Resistance | 1.1070 | 1.1093 | 1.1126 | 1.1158 | 1.1180 | | Recommendation | We expect selling USD/CHF below 1.1070 with a target at 1.0950, stop loss above 1.1130. | |
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| cad | | The dollar against the Canadian yesterday consolidated at the peak of the bullish projection wave with some tendency towards the downside. This move is considered a step towards the downside direction until the major support level at 1.0000 then to 0.9930 support.
The trading range for today will be between the key resistance at 1.0170 and the key support at 0.9850.
The general trend is down as far as 1.0450 remains intact, targets will be at 0.9000 and 0.8880.
| | Support | 1.0013 | 1.0000 | 0.9984 | 0.9967 | 0.9940 | | Resistance | 1.0032 | 1.0057 | 1.0083 | 1.0109 | 1.0140 | | Recommendation | ... | | |
