EUR

 

The European currency versus Greenback was able to breach the previous discussed neckline of the classical head and shoulders top pattern. Now some kind of consolidation is highly anticipated on the intraday basis as a normal effect for the oversold sign appearing on RSI but we see that it will be followed by a downside action towards the technical target of the overall structure around 1.3325 zones.  

The trading range for today is among the key support at 1.3325 and the key resistance at 1.4235

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

GBP

 

A double top formation is in progress for the time being as seen on the above four-hour chart. Hence the bearishness occurred yesterday is anticipated to continue on the intraday basis. Note that AROON indicator is showing that the major action is still downward while Stochastic shows that a very slight correction is needed before resuming the downtrend.

The trading range for today is among the key support at 1.5830 and the key resistance at 1.6525

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

JPY

 

The USD/JPY pair was resisted strongly around the pivotal resistance areas of 98.50; whereas it formed consecutive bearish formations appearing clearly on the candlesticks. Now this bearishness is expected to continue today as EMA 10-80 lines started to overlap negatively. Note that AROON indicator supports this intraday negative scenario.

The trading range for today is among the key support at 93.40 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

 

A daily harmonic Gartley pattern is under construction for the time being accompanied by yesterday's bullish candlestick, which encourages us to say that the Dollar versus Swissy is still expected to continue its bullishness toward the first technical target of the pattern -D- areas around 1.1155 whereas a breakout above it will open the door for additional positive actions while AROON supports our scenario.

The trading range for today is among the key support at 1.0585 and the key resistance at 1.1230

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

CAD

 

After building a solid technical base at the 1.1170 support level, the Dollar versus Loonie pair continued to incline, forming a harmonic Crab which is expected to form a potential reversal zone -D- around 1.1500 zones. Now a very slight correction is needed to relieve the indicators and to give the pair the momentum it needs to continue its projected bullishness. Note that a breakout above 1.1380 will accelerate our scenario. 

The trading range for today is among the key support at 1.1040 and the key resistance at 1.1600.

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