EUR

The Euro versus Dollar pair continued to pressure the key support for the ascending channel after maintaining levels below 1.4000. Momentum indicators are nearing an oversold area which supports our outlook to the upside on the intraday basis after rebounding from 1.3940 to breach 1.4000 and target 1.4245 as far as 1.3880 remains intact.

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

GBP

The Cable is currently declining gradually within a bullish technical pattern (wedge) as it nears the support which has shifted to 1.6220. Momentum indicators, specifically the stochastic, is supporting the upside movements to target the critical resistance at 1.6640 (the key support for the previously breached channel). As a result, we expect the pair is to incline on the intraday trends targeting the minor resistance at 1.6345 as far as 1.6200 remains intact.

The trading range for today is among the key support at 1.5900 and the key resistance at 1.6815

The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7100

JPY

The USD/JPY pair was able to breach the support at 95.70 to trigger a new bearish wave targeting 93.00 where we expect trading to be volatile around the previously breached support in an attempt to retest the level before reversing back to the downside. We believe the pair is to face an obstacle at 94.85 and 94.40 as minor supports before heading towards the target as far as 97.65 remains 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

CHF

The Dollar versus Swissy pair traded within narrow ranges since last Friday maintaining levels below 1.0890 where we expect the pair is to decline towards the key support for the ascending channel at 1.0760. The short term trend remains unclear and will be confirmed after touching the mentioned support as it seems the pair will pressure the key support to breach it and target 1.0760.

The trading range fro 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

CAD

The minor support at 1.1560 was able to halt further declines for the Dollar versus Loonie pair yet we expect the failed attempts are only to stall the expected decline on the intraday basis. Trading remains within narrow ranges as seen in the above image where a breach of the 1.1585 support level will quicken movements to breach the critical support at 1.1560 to target 1.1335 as far as 1.1770 remains intact.

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