The Euro versus Dollar pair breached the support area at 1.3940 – 1.3920 to continue declining towards 1.3800. The breach of the above level will take the pair towards the key support at 1.3320 for the medium term ascending channel. We currently wait for the daily close concerning 1.3955 to confirm the short term trend either back to the upside or complete the journey towards 1.3320
The trading range for today is among the key support at 1.3720 and the key resistance at 1.4340
The general trend is to the downside as far as 1.4710 remains intact with targets at 1.2120
|Recommendation||Close the morning position and wait for the daily close to confirm the trend|
The Cable breached the support level at 1.5900 and is currently nearing our suggested target at 1.5770. The key support for the ascending channel has shifted to 1.5785 where we still believe the pair is to incline from this level back to 1.6600 as far as 1.5785 remains intact where a breach of the latter will take the pair back to 1.5290 ye the medium term trend will remain to the upside.
The trading range for today is among the key support at 1.5715 and the key resistance at 1.6215
The general trend is to the upside as far as 1.4840 remains intact with targets at 1.6600
|Recommendation||Close half of the quantity and move stop loss to entry point|
The USD/JPY pair continued to incline above the breached resistance level as the 23.6% correction at 98.30 was able to halt further decline. The pair is to continue trading to the upside where the short term trend has now become to the upside targeting 101.50 unless the pair was able to breach the 97.75 level to the downside.
The trading range for today is among the key support at 95.30 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
|Recommendation||Wait for the daily close to determine the short term trend|
The Dollar versus Swissy Pair breached the key resistance for the downside channel that has started since mid April to reach the 1.0980 pivot resistance where the downside trend remains as the pair failed to close above the resistance level on the four hour charts. We will wait for today's closing to determine the trend on the intraday and short terms where a close above the 1.0980 level will take the pair towards 1.1355.
The trading range for today is among the key support at 1.0500 and the key resistance at 1.1050
The general trend is to the upside as far as 1.0570 remains intact with targets at 1.2245
|Recommendation||Our morning recommendation remains valid|
The Dollar versus Loonie was able to reach the key resistance for the downside channel at 1.1235 in an attempt to breach it to the upside yet failing to pass 1.1290. The last four hour closing above 1.1235 opens the way for the short term trend to the upside yet we are waiting for a confirmation with the daily close whether above or below this level in order to decline towards 1.0300
The trading range for today is among the key support at 1.0780 and the key resistance at 1.1395
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0300
|Recommendation||Our morning position remains valid|