Euro

The Euro versus the Dollar continues trading within the same range, while attempting to incline this morning. Our morning expectations remain intact, while we wait for the pair to reach the support level 1.4250 to achieve the required base to support the intraday upside move expected for today. As long as the four-hour closing is seen above 1.4250 the expected upside move will prevail.

The trading range for today is among the key support at 1.4020 and the key resistance at 1.4550.

The general trend is to the downside as far as 1.4720 remains intact with targets at 1.2120.

Great British Pound (GBP)

Trading for cable halted between possible reversal levels, pointed out this morning, between 1.6310 and 1.6285; while with the persisting clear overbought signs on Stochastic, we will keep our morning expectations as is, awaiting for the pair to reverse to the upside achieving the expected upside intraday move targeting 1.6630 levels, after breaching the key resistance level at 1.6430. It is vital that level 1.6245 remains intact for the short term upside move to prevail.

The trading range for today is among the key support at 1.5970 and the key resistance at 1.6630.

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

Japanese Yen (JPY)

The Dollar versus Yen pair is trading within a minor downside channel, which we await to structure the pair's expected decline. We notice that the pair is attempting to breach minor support level at 94.00; we still hold onto our morning expectations, with targets starting from 93.00 follow by level 92.00, while taking into consideration the importance for the daily closing below 95.55 to maintain the expected downside.

The trading range for today is among the key support at 90.95 and the key resistance at 97.75.

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

Swiss Franc (CHF)

The resistance level at 1.0625 continued its stance against the pair's attempts to incline. We still expect an upside correction targeting 1.0690, then reversing downwards towards breaching the key support level at 1.0570 to head towards its first target for the short term bearish move at 1.0400. For the downside wave to prevail trading must remain below level 1.0750.

The trading range for today is among the key support at 1.0375 and the key resistance at 1.0915.

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

Canadian Dollar (CAD)

The US Dollar versus Loonie pair surpassed the first correction level the 38.2%, which was supposed to return the pair to the downside again; it currently stands at the 50%, the second correction level, at 1.0910. Stochastic remains within overbought areas, hinting that a downside move might begin at anytime. We still hold onto our morning expectations for a downside move over intraday basis; where it's main target is breaching 1.0745 and then 1.0625. Trading should prevail below 1.0975 to maintain the expected downside move for today.

The trading range for today is among the key support at 1.0550 and the key resistance at 1.1045.

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