Euro


The EUR/USD managed to inclined as expected in our morning report to 1.4245 levels before rebounding to the downside, our analysis is still valid, though we await the pair to breach the pivot support level at 1.4105 which will lead the pair to decline towards 1.3900 levels as indicated throughout the morning report; noting that we await the ECB rate decision at 11:45 GMT

The trading range for today is among the key support at 1.3890 and the key resistance at 1.4620.

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

Support1.41051.40801.40301.39801.3945
Resistance1.41801.42251.42451.43201.4395
RecommendationOur Morning Position is Still Valid

Great British Pound (GBP)

The royal currency inclined severely today as it bumped into the 50% correctional level for yesterday's downside correctional movement at 1.6430. The pair is dropping again targeting the upside channel's support levels in attempt to breach it at 1.6305 as noted in our morning report.

The trading range for today is among the key support at 1.5700 and the key resistance at 1.6660.

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

Support1.63051.62701.62051.61751.6105
Resistance1.64301.64751.65651.66401.6685
RecommendationOur Morning Position is Still Valid

Japanese Yen (JPY)

The pair managed to breach the minor resistance level at 96.35 and currently in attempt to retest this breach, our morning analysis is still valid which indicates that the intraday upside move is targeting the main resistance levels at 97.60 – 97.70 before shifting downwards to accomplish its short-term downside targets at 93.40 then at 92.40.

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.

Support96.3595.9095.3594.7594.50
Resistance96.5597.4097.7098.1098.85
RecommendationOur Morning Position is Still Valid

Swiss Franc (CHF)


The pair declined as expected due to the downside pressures forced upon the pair by momentum indicators, therefore our morning analysis is still valid and we expect the pair to reach 1.6025 levels before rebounding upwards to breach the resistance level at 1.0745 to target 1.0930; the downside short-term direction is still valid if the pair fails to breach the resistance level at 1.0930.

The trading range for today is among the key support at 1.0450 and the key resistance at 1.0930.

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

Support1.06251.05551.05001.04701.0450
Resistance1.06901.07451.08001.08601.0935
RecommendationOur Morning Position is Still Valid

Canadian Dollar (CAD)


After finalizing the downside harmonic pattern earlier this morning the green currency declined against the Canadian Dollar as expectations indicates the continuous intraday decline in order to retest the breached resistance levels at 1.0970 before rebounding to the upside to target the main resistance levels at 1.1300. It is necessary to note that the Bank of Canada will announce their interest rate decision at 13:00 GMT which could increase volatility for the pair's trading before validating the upcoming intraday direction.

The trading range for today is among the key support at 1.0780 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.

Support1.10151.09701.09301.08801.0825
Resistance1.10851.11501.11951.12301.1255
RecommendationOur Morning Position is Still Valid