EUR

The Euro versus Dollar pair was able to breach the neckline at 1.3935 declining almost 100 pips so far. We still hold our outlook for further declines on the intraday basis targeting 1.3775 before monitoring the price action to determine the next short term trend.

The trading range for today is among the key support at 1.3625 and the key resistance at 1.4470

The general trend is to the downside as far as 1.4710 remains intact with targets at 1.2120

GBP

The Cable attempted to breach the pivot support at 1.6325 yet the 38.2% correction at 1.6305 forced the pair to rebound to the upside near 1.6400. We still expect the pair to pressure the support level to the downside on the intraday basis to reach 1.6120 initially before continuing the downtrend to reach 1.6020. The short term trend remains as far as 1.6020 is intact.

The trading range for today is among the key support at 1.6020 and the key resistance at 1.6685

The general trend is to the upside as far as 1.4840 remains intact with targets at 1.6830

JPY

The USD/JPY pair continues to trade within narrow ranges since the morning as it fluctuates within 98.50 and 98.00 where our outlook remains pressuring the resistance level at 98.55 to the upside targeting 100.00 as far as 96.95 remains intact.

The trading range for today is among the key support at 94.50 and the key resistance at 100.70

The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60

CHF

The Dollar versus Swissy pair was able to breach the pivot resistance (neckline for the bullish technical pattern) at 1.0840 as it nears the suggested targets at 1.0980. Momentum indicators show the pair being overbought suggesting the possibility of a downside correction to retest the breached neckline before continuing the uptrend. This trend remains as far as 1.0840 is intact.

The trading range for today is among the key support at 1.0585 and the key resistance at 1.1165

The general rend is to the upside as far as 1.0570 remains intact with targets at 1.2245

CAD

The Dollar versus Loonie pair was able to reach 1.1310 before reversing back to the downside due to the negative pressures appearing on momentum indicators. We currently wait for a bearish candle to confirm the movements and decline on the intraday basis towards 1.1170 before determining the next intraday and short term trends.

The trading range for today is among the key support at 1.1040 and the key resistance at 1.1480

The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0300