Euro

Mid-day report

The Euro versus Dollar pair continued to pressure the key support (618% correction) where we still hold our outlook to the upside on the intraday basis to return to levels above 1.4000 and target 1.4105. This incline remains as far as 1.3850 is intact.

The trading range for today is among the key support at 1.3655 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

Support1.39351.38851.38501.37851.3745
Resistance1.40001.40401.41051.41701.4235
RecommendationAccording to our analysis, buy the pair above 1.4000 with targets at 1.4105 and stop loss with four hour closing below 1.3935

Great British Pound (GBP)

Mid-day report

The Cable declined sharply after breaching the key resistance at 1.6335 where this breach may change the short term trend to the downside after confirmation with a daily close below it. We expect the pair is to decline further towards 1.6200 where a breakout of this level will open the way for the pair to target 1.5800. Note that today's daily close will confirm the short term trend

The trading range for today is among the key support at 1.5900 and the key resistance at 1.6750

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

Support1.62901.62551.62001.61751.6115
Resistance1.63501.64051.64651.65251.6615
RecommendationWe advise to avoid trading for the rest of the day and wait for the daily close

Japanese Yen (JPY)

Mid-day report

The USD/JPY pair was able to breach the resistance level at 96.25 yet has to be confirmed as we are waiting for the next four hour closing. The pair is currently facing a minor resistance at 96.55 which may reverse the pair back to the downside within a minor downside channel as seen in the above image. From here we still hold our outlook to the downside on the intraday basis targeting 94.85 and 93.00 respectively as far as 98.00 is 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

Support96.2095.8095.4094.8594.45
Resistance96.5597.1597.6598.0098.40
RecommendationOur morning position remains valid

Swiss Franc (CHF)

Mid-day report

The Dollar versus Swissy pair was able to build a solid base at the 23.6% correction at 1.0930 before rebounding back to the upside above the resistance level at 1.0908 despite being overbought on momentum indicators. Our outlook remains to the downside on the intraday basis targeting 1.0745 as an initial target as far as 1.1080 is intact.

The trading range for today is among the key support at 1.0700 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

Support1.09801.09251.08701.08251.0780
Resistance1.10201.10801.11051.11651.1250
RecommendationOur morning position remains valid

Canadian Dollar (CAD)

Mid-day report

The Dollar versus Loonie pair was able to touch the critical resistance at 1.1595 where we believe the pair is to reverse from it targeting the key support of the channel at 1.1200 where there is a minor support at 1.1465 which may slow down the decline. Bearish signals seen on momentum indicators are supporting our outlook to the downside as far as 1.1655 is intact.

The trading range for today is among the key support at 1.1200 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

Support1.15401.150501.14651.14251.1370
Resistance1.15951.16551.17151.17501.1810
RecommendationOur morning position remains valid