Euro
Morning Report
The
euro versus dollar stabilized above 1.4400 accompanied by overbought
signs through momentum indicators that might force the pair to activate
minor bearish correction, to rid of these negative signs before
resuming the bullish direction. We expect a bullish direction for today
that targets first 1.4520 and then attempts to breach it to open the
way towards 1.4600 – 1.4650. However, it is vital that 1.4345 remain
intact so chances of achieving these expectations may prevail.
The trading range for today is among the key support at 1.4220 and the key resistance at 1.4675.
The general trend is to the upside as far as 1.4035 remains intact with targets at 1.6000.
Weekly Report
| Support |
1.4375 |
1.4305 |
1.4270 |
1.4220 |
1.4175 |
|
| Resistance |
1.4430 |
1.4520 |
1.4575 |
1.4620 |
1.4675 |
|
| Recommendation |
Based
on the charts and explanations above our opinion is buying the pair
from 1.4375 targeting 1.4520 and stop loss below 1.4305, might be
appropriate. |
Great British Pound (GBP)
Morning Report
The
pivotal resistance level 1.6240 stood in front of attempts of the cable
to ascend, where signs of conflicting technical pattern signs that
might cause mixed trades for the pair. The main bullish technical
pattern is awaited to breach its neckline at 1.6240; where the last
descend is at 1.6055 and might push the pair to go through more bearish
correction. We see that the expected direction for today is bullish supported by the MA 50, in addition to the bullish signs coming through the Stochastic,
where the target it 1.6240 following 1.6445. It is vital to keep in
mind that 1.6055 is essential to achieve these expectations.
The trading range for today is among the key support at 1.5960 and the key resistance at 1.6445.
The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7200.
Weekly Report
| Support |
1.6070 |
1.6025 |
1.5985 |
1.5920 |
1.5830 |
|
| Resistance |
1.6140 |
1.6200 |
1.6240 |
1.6325 |
1.6375 |
|
| Recommendation |
Based
on the charts and explanations above our opinion is buying the pair
from 1.6070 targeting 1.6240 and stop loss below 1.5985, might be
appropriate. |
Japanese Yen (JPY)
Morning Report
The
dollar versus yen breached support for the short termascending channel,
in an attempt to start an early bearish reversal before touching the
awaited resistance levels at 94.10. The pair is presently facing the MA 50 that is impeding achieving more downside movement. On the overall, we think that the expected direction is bearish over an intraday basis;
targeting 90.75 and requires trades to remain stable below 92.45 to
achieve it. Observing closing for today is vital for 90.75 to
determine the new short term direction's destination.
The trading range for today is among the key support at 90.04 and the key resistance at 93.60.
The general trend is to the downside as far as 102.60 remains intact with targets at 82.60.
Weekly Report
| Support |
91.10 |
90.75 |
90.40 |
89.60 |
89.35 |
|
| Resistance |
91.85 |
92.45 |
93.15 |
93.65 |
94.10 |
|
| Recommendation |
Based
on the charts and explanations above our opinion is selling the pair
from 91.85 target 90.75 and stop loss above 92.45, might be appropriate. |
Swiss Franc (CHF)
Morning Report
The
dollar versus swissy achieved clear negative pressure on the support
level's sideway range at 1.0280 in an attempt to breach; meanwhile,
positive signs are impeding the positive signs that are appearing on
momentum indicators to achieve a descend. We still see that the expected direction for today is bearish that will start to assure the breach for the mentioned support level and target 1.0170 followed by 1.0055.
The trading range for today is among the key support at 1.0055 and the key resistance at 1.0400.
The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.
Weekly Report
| Support |
1.0280 |
1.0200 |
1.0170 |
1.0140 |
1.0090 |
|
| Resistance |
1.0375 |
1.0400 |
1.0450 |
1.0530 |
1.0610 |
|
| Recommendation |
Based
on the charts and explanations above our opinion is selling the pair
from 1.0280 targeting 1.0170 and stop loss above 1.0375, might be
appropriate. |
Canadian Dollar (CAD)
Morning Report
The
dollar versus loonie was able to achieve the technical pattern's
targets shown yesterday, accompanied by oversold signs through momentum
indicators that we expect will push the pair to attempt some bullish
correction; touching through it the resistance level for the descending
channel at 1.0435 and then the pair will start the expected bearish intraday;
resuming through it the bearish short term direction, where its primary
next targets are around 1.0200 and then 1.0100. It is vital that 1.0485
remain intact to maintain chances of achieving these expectations.
The trading range for today is among the key support at 1.0200 and the key resistance at 1.0500.
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0000.
Weekly Report
| Support |
1.0360 |
1.0330 |
1.0255 |
1.0200 |
1.0165 |
|
| Resistance |
1.0435 |
1.0485 |
1.0550 |
1.0635 |
1.0690 |
|
| Recommendation |
Based
on the charts and explanations above our opinion is selling the pair
from 1.0435 targeting 1.0330 and stop loss above 1.0485, might be
appropriate. |