After the continuous pressures on the key support level at 1.3940, the dollar versus the euro pair achieved a strong breach to this level, paving the way for the short-term trend reversal towards the downside, where target levels are at 1.3750; which will be assured after a successful breach for the support level at 1.3885. We are waiting for the pair to head towards the specified path and make sure of the reversal to the downside, with today’s daily closing below 1.3940.
The trading range for today is among the key support at 1.3655 and the key resistance at 1.4400.
The general trend is to the downside as far as 1.4710 remains intact with targets at 1.2120.
The cable achieved a strong breach for key support levels between 1.6220 – 1.6200, while giving strong signals to confirm the breach, thus changing the short-term towards the downside. The following downside targets are seen at 1.6000 and then more of descend towards 1.5860, while it’s important to take into consideration that assuring the change for the short term trend to the downside towards our set targets needs the pair to close today below 1.6200.
The trading range for today is among the key support at 1.5860 and the key resistance at 1.6525.
The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7100.
The dollar versus the yen pair managed to pivot on the first correction level of 38.2% at 95.50, to reverse to the downside slowly at the time being, in an attempt to confirm the downside reversal over short and intraday basis, as mentioned this morning. We still hold onto our morning expectations, and what remains now is to surpass the minor support barrier at 95.00 to pave the way for the downside movement towards 93.00, where for our scenario to remain valid the 97.65 level needs to remain intact.
The trading range for today is among the key support at 93.00 and the key resistance at 98.85.
The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60.
The ongoing pressures on the key resistance level at 1.0890, which was expected to remain standing in front of the ongoing attempts of the dollar versus swissy pair to pave the way to achieve the intraday incline, which targets levels 1.1080; where it has indeed formed a bullish technical pattern that breached its neckline level – the same resistance level 1.0890 - the four-hour closing appeared to be above the resistance level being referred to. The stochastic indicator reached near buying saturation and shows signs of negative crossing which may cause a slight bearish correction to retest the breached neckline and then continue to the upside towards the expected target.
The trading range for today is among the key support at 1.0570 and the key resistance at 1.1165.
The general trend is to the upside as far as 1.0570 remains intact with targets at 1.2245.
According to the provided chart, we can notice an ascending triangular pattern for the USD/CAD pair, where the horizontal resistance level for it is at 1.1650. We notice ongoing attempts to breach this level to reverse to the upside over intraday basis, which if seen will take the pair towards 1.1800 – 1.1840. Notice that the key resistance level is at 1.1770 and may create a barrier in front of achieving the full target. The short-term remains valid to the upside as far as trading is intact within the current ascending channel, where its key support level is seen at 1.1335.
The trading range for today is among the key support at 1.1335 and the key resistance at 1.1815.
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0300.