EURUSD
The pair was able to breach the pivotal support mentioned yesterday at 1.2310 that has currently turned into resistance descending towards 1.2295, shown above. More bearish movement is expected for today due to stability achieved below breached support, where upcoming targets are around 1.2060. Keep in mind that the four hour closing will stabilize below 1.2295 to achieve these expectations.
The trading range for today is among the key support at 1.2090 and the key resistance at 1.2325.
The short term trend is to the downside as far as 1.3770 remains intact with targets at 1.1700.
GBPUSD
The pair moved according to yesterday’s scenario to trade once again near support for the descending channel which is dropping towards 1.4210 to head towards technical targets that start at 1.4095 then 1.3940. It is vital that level 1.4405 remains intact to achieve the suggested scenario.
The trading range for today is among the key support at 1.4095 and the key resistance at 1.4405.
The short term trend is to the downside as far as 1.5590 remains intact with targets at 1.4000.
USDJPY
The pair succeeded in achieving the suggested scenario yesterday flawlessly, where it rebounded to the upside after touching support for the minor descending channel. Some fluctuation is expected and is expected to build a base on 92.30 followed a bearish reversal, where the pair through it can achieve the bearish intraday direction; the first main target is at 91.00. It is vital that 92.75 remain intact to insure achieving these expectations.
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The trading range for today is among the key support at 91.00 and the key resistance at 92.75.
The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.
USDCHF
The retesting level succeeded yesterday at 1.1295 in front of the pair’s attempts to descend and pushed the pair upwards to achieve primary targets for the bullish technical pattern shown above. Some minor bearish correction could touch 1.1430 before continuing the bullish intraday direction; targeting next 1.1685. It is vital that 1.1365 remain intact to insure these expectations prevail.
The trading range for today is among the key support at 1.1305 and the key resistance at 1.1685.
The short term trend is to the upside as far as 1.0200 remains intact with targets at 1.2000.
USDCAD
The ascending channel is controlling the pair’s intraday trading, where it has pushed upwards according to yesterday’s scenario. A minor bearish correction is expected due to the negative effects for momentum indicators before resuming the bullish direction today; targeting first the attack of pivotal resistance 1.0470 in an attempt to breach it and pave the way towards 1.0550 as a main target today. The breach of 1.0320 could postpone achieving the suggested expectations.
The trading range for today is among the key support at 1.0295 and the key resistance at 1.0665.
The short term trend is to the downside as far as 1.0780 remains intact with targets at 0.9705.
