Euro





The Euro versus Dollar pair was able to breach the pivot support yesterday at 1.4250, which opened the way towards reaching the technical targets for the bearish technical pattern. Thus, we expect a decline on the intraday basis to reach 1.4125 before rebounding back to the upside, in an attempt to maintain levels above the pivot resistance at 1.4375. The stochastic indicator is showing the pair being oversold, which may result in high volatility.

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 declined sharply yesterday, resulting in the breach of the key support at 1.6245, to maintain trading below the level which opens the way for further declines on the short term targeting 1.6000, as seen in the image above. The short term trend is changing to the downside within a descending channel and will remain intact as far as 1.6455 is intact.

The trading range for today is among the key support at 1.5970 and the key resistance at 1.6540

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 was able to breach the minor support at 94.00 - 93.75 ,as it currently attempts to maintain trading below this level to confirm the short term downside trend. From here, we expect the pair to decline on the intraday basis targeting 92.00, as far as 94.20 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 Dollar versus Swissy pair inclined towards the correction level at 1.0690, after breaching the pivot resistance at 1.0625, accompanied by overbought signals on the stochastic indicator, which assures our expectations yesterday for a decline from the current levels targeting the breach of the pivot support at 1.0570. Our expectations remain valid as far as 1.0745 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 pair continued its gradual inclines yesterday, maintaining trading around the key resistance on the intraday basis at 1.0975. Momentum indicators show the pair being overbought, which makes us hold onto our expectations of a slight decline from the current levels targeting 1.0745 as an initial target as far as 1.1030 remains intact.

The trading range for today is among the key support at 1.0710 and the key resistance at 1.1285

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