Euro

The Euro versus the dollar continued to incline towards the minor resistance at 1.3320 where we still hold our outlook to the upside targeting 1.3585 on the short term after successfully breaching 1.3385 and 1.3445. The 1.3125 level must remain intact for the incline to occur.

The trading range for today is among the key support at 1.2800 and the key resistance at 1.3585

The general trend is to the downside as far as 1.4710 remains intact with targets at 1.2120

Support: 1.3285 1.3205 1.3175 1.3120 1.3050

Resistance: 1.3320 1.3385 1.3445 1.3525 1.3580

Recommendation: Our morning recommendation remains valid

Great British Pound (GBP)

The Cable inclined massively after building a solid base at 1.4750 to reach our initial target at 1.4965. The close for the last four hour candle above 1.4845 provided the pair with enough bullish momentum to breach the key resistance at 1.4975 which will open the way towards 1.5070 and 1.5300 as far as 1.4705 remains intact.

The trading range for today is among the key support at 1.4240 and the key resistance at 1.5400

The general trend is to the downside as far as 1.5270 remains intact with targets at 1.3400

Support: 1.4870 1.4845 1.4765 1.4735 1.4705

Resistance: 1.4975 1.5030 1.5070 1.5170 1.5235

Recommendation: According to our analysis, buy the pair above 1.4975 with targets at 1.5070 and stop loss with four hour closing below 1.4870

Japanese Yen (JPY)

The USD/JPY continued pressuring the key resistance of the minor ascending channel in an attempt to continue inclining. We still hold our outlook to the upside on the short term targeting 103.00 yet we may witness a downside correction to reach 98.30 before reversing back to the upside as far as 95.85 remains intact

The trading range for today is among the key support at 95.85 and the key resistance at 103.00

The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60

Support: 98.30 98.00 97.40 96.95 96.35

Resistance: 99.40 99.70 100.70 101.00 101.45

Recommendation: According to our analysis, buy the pair above 98.30 with targets at 99.70 and stop loss with four hour closing below 96.95

Swiss Franc (CHF)

The Dollar versus Swissy declined in an attempt to trade below the key support at 1.1370 as we expected and therefore we expect further declines targeting 1.1270 as an initial target and then 1.1165 before extending towards 1.0975 on the short term. The downside trend remains as far as 1.1475 remains intact.

The trading range for today is among the key support at 1.0975 and the key resistance at 1.1800

The general trend is to the upside as far as 1.0570 remains intact with targets at 1.2245

Support: 1.305 1.1270 1.1205 1.1165 1.1100

Resistance: 1.1410 1.1475 1.1520 1.1585 1.1645

Recommendation: Our morning recommendation remains valid

Canadian Dollar (CAD)

The Dollar versus Loonie reversed to the downside after reaching the first correction level where we are currently seeing the first attempt to breach the 1.1860 key support to the downside as we still hold our outlook towards 1.1600 on the short term. However, this decline becomes confirmed with a four hour closing below 1.1860 and as far as 1.2265 remains intact.

The trading range for today is among the key support at 1.1600 and the key resistance at 1.2505

The general trend is to the upside as far as 1.1780 remains intact with targets at 1.3400

Support: 1.1800 1.1760 1.1700 1.1655 1.1600

Resistance: 1.1885 1.1955 1.2015 1.2070 1.2100

Recommendation: According to our analysis, sell the pair below 1.1885 with targets at 1.1760 and stop loss with four hour closing above 1.1955