The EUR/USD pair continues its upside pressure on the pivotal resistance 1.4310, in an attempt to breach and continue its upside short term direction; where chances favor achieving that after forming a bullish technical pattern, shown in the upper diagram. If the pair succeeded in achieving the breach for this level, and closed the four-hours above it, the intraday direction will rebound to the upside, supporting the upside direction and its primary targets, where their currently around 1.4600. Our morning predictions remain intact until a clear breach occurs to the mentioned resistance level.
The trading range for today is among the key support at 1.3800 and the key resistance at 1.4575.
The general trend is to the downside as far as 1.4710 remains intact with targets at 1.2120.
Great British Pound (GBP)
The cable achieved a strong breach in key resistance at 1.6770, to open a way for the intraday direction rebounding to the upside, which supports continuing the upside short term direction without having to go through an expected bearish correction for today. The following targets are for the expected incline existing around 1.7155; then, opening a way in front of targeting 1.7585 levels. Today's upside direction will remain intact, if trading remains above 1.6605.
The trading range for today is among the key support at 1.6420 and the key resistance at 1.7035.
The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7100.
Japanese Yen (JPY)
The USD/JPY pair pushed to the upside after leaning on the mentioned support level this morning, in a way to achieve the awaited targets around 96.45. The stochastic is still supporting expectations, in achieving an incline for today, including the 100 MA; protecting the expected upside direction. Chances of achieving an incline will prevail, if 94.45 remain intact.
The trading range for today is among the key support at 91.80 and the key resistance at 98.80.
The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60.
Swiss Franc (CHF)
The USD/CHF pair shows perfectly, a formation of a bearish technical pattern after the continuing pressure, which it achieved on the key support 1.0695; while completely stopping at the neckline level, acting as 1.0655. This continuing pressure, and a close below the key support as well as forming a bearish technical pattern; are all factors that point to the major symmetry to continue the downward short term, though breaching 1.0695, and head towards the pivotal 1.0570; then continue more downside movement towards 1.0375, as a full target for the mentioned bearish pattern. The clear downside direction stays intact if the pair closes below 1.0695.
The trading range for today is among the key support at 1.0375 and the key resistance at 1.1095.
The general trend is to the upside as far as 1.0570 remains intact with targets at 1.2245.
Canadian Dollar (CAD)
The USD/CAD pair achieved a base on the breached key support 1.0785 to start its journey towards the bearish short term direction, expected this morning without going through the awaited correction. Breaching the pair's minor support 1.0745, the way looks open to achieve the awaited targets starting from 1.0660 and then more downside movement towards the1.0300 level. While so long as the 1.0785 level remains intact the expected downside movement will prevail, for today.
The trading range for today is among the key support at 1.0425 and the key resistance at 1.1170.
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0300.