EUR

The euro continues to trade within the minor ascending channel against the U.S dollar and was capable of reaching the channel’s support level at 1.3870 yesterday. The pair is expected to move to the upside over intraday basis targeting the resistance level at 1.4065 while 1.3835 needs to remain intact to assure this upside move for today remains valid.

The trading range for today is among the key support at 1.3440 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

The major support level at 1.6210 managed to push the pair higher towards the 1.6400 resistance level; the pairs being set by the pair are declining gradually which is negatively pressuring the pair to attempt breach 1.6210 major support level. We expect positive pressures to the upside for the pair to attempt breaking through the mentioned resistance level opening the way for the short-term upside trend around 1.7000 after breaching the major resistance level at 1.6685 which is the pivot level for the medium-term, and for this upside move to remain valid the 1.6210 level needs to remain intact.

The trading range for today is among the key support at 1.5900 and the key resistance at 1.6685.

The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7000.

JPY

The dollar versus the Japanese yen managed to acquire the harmonic pattern’s upside target at 96.70 where now we expect the pair to decline from current levels around (96.60) initially towards 95.50 and then further south towards 93.40. Momentum indicators are reflecting initial signs of negativity which support the downside move over intraday basis supporting the short-term trend that is also bearish; those expectations remain valid as far as 98.40 remains intact.

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

CHF

The dollar versus Swissy yesterday neared the awaited targets at 1.0690 yet the support level at 1.0760 pushed the pair higher to face minor resistance level as shown on the image above at 1.0890. We expect for this level to hold the pair and therefore pushing the pair to over intraday basis to decline taking the pair again towards 1.0685 and with negative momentum that is seen on momentum indicators, taking into consideration that this wave is still normally trading within the major sideways wave shown above.   

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

The pair continued to trade around 1.1335 yesterday, while attempts to move to the downside were faced by a minor support level around 1.1225. We still see that the pair will decline over intraday basis initially targeting a breach to the mentioned support level in attempts to reach the major support level for the new upside channel at 1.1080 and then defining the short-term trend which will remain valid to the upside if the pair fails to breach 1.0895.    

The trading range for today is among the key support at 1.1080 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.