The EUR/USD pair returned to the upside again, reaching the key resistance for a new downside channel that meets with the previously breached key support for the upside channel at 1.4020. We can consider yesterday’s incline as an upside correction which had shown oversold pressures that appeared on the momentum indicators, thus we can expect for today the pair to decline on the intraday basis targeting 1.3785 levels and then 1.3735 supported by overbought signals that appear on the stochastic oscillator. Note that to keep the chances of downside movement for today, 1.4020 must remain intact.
The trading range for today is among the key support at 1.3600 and the key resistance at 1.4270.
The general trend is to the downside as far as 1.4710 remains intact with targets at 1.2120.
The cable pushed to the upside strongly yesterday, with positive signs that appeared on the momentum indicators, where it stops the incline at correction 38.2% at 1.6270. We can expect for today a downside movement on the intraday basis as a clear overbought sign is shown on the stochastic oscillator, that could take the pair to 1.5975 at most to achieve the key target before rebounding back to the upside. It appears that the key resistance is at 1.6360 and may form a neckline for the bullish pattern; it is also expected to form and it is expected that it would contribute in pushing the pair towards the upside as a start for the short term bullish wave, after achieving today’s downturn target.
The trading range for today is among the key support at 1.5800 and the key resistance at 1.6600.
The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7100.
After reaching the support at 91.70, the USD/JPY pair rebounded to the upside, supporting our expectations for a short term upside wave that targets 97.25. The stochastic oscillator shows overbought signs, which might cause some mixed fluctuations around the current levels (93.10) that appear to form a key resistance levels on the intraday basis. Our previous predictions remains to the upside on the intraday basis supporting the upside short term direction, while it is vital that 91.60 remains intact so that the continuation of these prediction remain valid.
The trading range for today is among the key support at 89.75 and the key resistance at 97.25.
The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60.
The minor support level for the symmetrical triangle continued to halt the USD/CHF attempts to move to the downside, while noting that the stochastic is nearing the overbought areas with signs of a positive crossing starting to show, where it supports our predictions that the pair, for today, will achieve an incline on the intraday basis targeting firstly, the breach of the resistance level for this triangle at 1.0905, then reaching the key resistance at 1.1050. As far as 1.0805 remains intact, the desired upside intraday basis for today will be achieved.
The trading range for today is among the key support at 1.0570 and the key resistance at 1.1160.
The general trend is to the upside as far as 1.0570 remains intact with targets at 1.2245.
The USD/CAD pair achieved a strong breach in the minor support level that the pair traded around for a while to reach the key support for the upside channel at 1.1470. The short term direction is still to the upside and this downside movement will trade normally within the current upside channel, where we expect for today an incline on an intraday basis after reaching the mentioned key support level, while the targets are around 1.1655. Note that 1.1470 remaining intact is vital for the upside short term direction to continue and achieve the predicted targets, where it requires the breach of the resistance level at 1.1540.
The trading range for today is among the key support at 1.1335 and the key resistance at 1.1850.
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0300.