Euro

The Euro versus Dollar pair remains limited within the 1.4250 and 1.4375 levels and failed to breach the resistance level yesterday, to maintain levels around 1.4300 once again. Attempts to gather bullish momentum to support the awaited incline continue, therefore we expect the pair is to incline on the intraday basis targeting 1.4550, as far as 1.4250 remains intact on the four hour charts where a breach of this level will take the pair towards 1.4120 – 1.4100.

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)

The Cable reversed to the downside from the 100% Fibonacci expansion at 1.6430, as it nears the potential reversal zones for a possible bullish harmonic pattern between 1.6310 – 1.6285. The stochastic indicator is nearing oversold areas, with a possibility of a bullish crossover to support our outlook to the upside on the intraday basis targeting 1.6630 initially as far as 1.6245 remains intact.

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 USD/JPY pair found it difficult to breach the minor support at 93.75, as seen in the image above, to currently trade between this level and the 23.6% correction at 94.40. We expect volatility within these levels and the pair to gather bearish momentum to decline on the intraday basis, where we still believe the pair is to target 93.00 and 92.00 respectively as far as 95.55 remains intact.

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 downside as far as 102.60 remains intact with targets at 84.95 and 82.60

Swiss Franc (CHF)

The key support at 1.0570 was able to halt further decline for the Dollar versus Swissy pair, where we believe the pair is to correct to the upside targeting the pivot resistance at 1.0690, supported by the bullish technical pattern being formed with a neckline at 1.0625. From here we expect the pair to reach 1.0690, before reversing back to the downside to continue the short term trend by breaching the key support at 1.0570 and target 1.0400. The decline remains, as far as 1.0750 is intact.

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 Dollar versus Loonie inclined yesterday reaching the 38.2% correction at 1.0865, where we expect the pair is to reverse to the downside on the short term after signs of being overbought on the stochastic indicator are starting to show with the possibility of a bearish crossover. From here ,we expect the pair to decline on the intraday basis targeting the breach of the pivot support at 1.0745 to reach 1.0625 and 1.0300, respectively. Maintaining trading below 1.0975 is vital for the decline to continue.

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