Euro

The Euro versus Dollar pair inclined neglecting the need for a downside correction as it was able to touch the 1.4140 level. We expect the pair is to decline on the intraday basis as seen on momentum indicators towards 1.4010 and 1.3935 before confirming the intraday trend. The short term trend remains to the upside as far as 1.3755 is intact.

The trading range for today is among the key support at 1.3580 and the key resistance at 1.4380

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

Support1.40601.40101.39351.39001.3815
Resistance1.41401.41801.42151.43001.4370
RecommendationAccording to our analysis, sell the pair below 1.4140 with targets at 1.4010 and stop loss with four hour closing above 1.4180

Great British Pound (GBP)

The Cable surged to the upside to breach the minor resistance level at 1.6060 and near the key resistance for the ascending channel at 1.6175. We expect to also see a decline on the intraday basis below the above mentioned resistance level to reach 1.6100 as an initial correction before heading towards 1.6060. The short term trend remains to the upside as far as 1.5850 remains intact.

The trading range for today is among the key support at 1.5700 and the key resistance at 1.6370

The general trend is to the upside as far as 1.4840 remains intact with targets at 1.6600

Support1.61001.60601.59851.59351.5875
Resistance1.61751.62501.62751.63451.6395
RecommendationAccording to our analysis, sell the pair below 1.6175 with targets at 1.6100 and 1.6060 and stop loss with four hour closing above 1.6250

Japanese Yen (JPY)

The USD/JPY pair continued to decline as it breached the 96.00 support level to head towards our suggested targets. The downside trend remains as far as 97.30 is intact.

The trading range for today is among the key support at 91.90 and the key resistance at 99.40

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

Support95.7595.2094.5594.1093.50
Resistance96.0096.5097.3097.6098.10
RecommendationOur morning position remains valid

Swiss Franc (CHF)

The Dollar versus Swissy pair declined to reach the key support for the downside channel at 1.0715 as it breached the 1.0745 pivot support which indicates the possibility for further declines towards 1.0570. All that is left now is a four hour closing below 1.0715 to confirm the downtrend as far as 1.0860 remains intact.

The trading range for today is among the key support at 1.0570 and the key resistance at 1.1205

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

Support1.07151.06551.06101.05701.0530
Resistance1.07451.08001.08601.09151.0980
RecommendationAccording to our analysis, sell the pair with next hourly close below 1.0715 with targets at 1.0570 and stop loss with four hour closing above 1.0800

Canadian Dollar (CAD)

The Dollar versus Loonie pair continued to pressure the support level to the downside which lead to a breakout to reach our second suggested target at 1.1030. We still see that the pair is to decline further towards 1.0935 where we expect the pair is to correct to the upside from this level to reach 1.1095 before determining the intraday trend. This intraday decline remains as far as 1.1130 is intact.

The trading range for today is among the key support at 1.0835 and the key resistance at 1.1335

The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0300

Support1.09801.09351.08801.08351.0760
Resistance1.10501.0951.11301.11951.1230
RecommendationAccording to our analysis, buy the pair above 1.0935 with targets at 1.1095 and stop loss with four hour closing below 1.0835