EURUSD
The pair continues its upside push within the ascending channel shown in our previous reports, due to the effect of yesterday’s breached bullish technical pattern at 1.2325. Momentum indicators are showing some negativity that may cause some kind of fluctuation, revisiting the built base on support for the upside channel at 1.2360 before heading towards
resuming the expected bullish intraday trend; upcoming key targets start at 1.2510 then 1.2565.
Keep in mind that the daily closing must remain above 1.2325 to maintain chances of achieving expectations.
The trading range for today is among the key support at 1.2300 and the key resistance at 1.2565.
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The short term trend is to the downside as far as 1.3770 remains intact with targets at 1.1700.
GBPUSD
The pair stabilized above pivotal resistance 1.4770 showing a clear bullish slant due to the organized trading within the ascending short term channel. The pair is strongly facing resistance around 1.4850 – 76.4% Fibonacci correction -, which could force the pair to fluctuate due to the negative effect of momentum indicators, before
continues on with the bullish intraday trend that will essentially start with a clear breach for 1.4850. The first awaited key target resides around 1.50000 – 1.5045. Keep in mind that the breach of 1.4730 could make the pair exit its bullish short term path.
The trading range for today is among the key support at 1.4735 and the key resistance at 1.5045.
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The short term trend is to the downside as far as 1.5590 remains intact with targets at 1.3800.
USDJPY
The pair managed to primarily reach the previously mentioned pivotal support at 90.80, but yesterday’s closing was above it and thereby postponing the breach process. The pair continues to fluctuate around this level as it is currently below it; where we see it retesting the breakout areas and thus; our previous expectations are still intact. We expect
the expected direction is bearish over an intraday basis that will start its targets at 89.55 then 88.90. Achieving these expectations requires stability below 91.70.
The trading range for today is among the key support at 89.55 and the key resistance at 92.25.
The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.
The pair continues its negative pressure on 50% Fibonacci correction at 1.1115, where we see that the key to continue the bearish correctional wave that targets 61.8% around 1.0970. Momentum indicators are showing clear oversold signs and thereby impeding the pair’s attempt to descend; thus, we may witness fluctuations around the breached level in an attempt to gather enough bearish momentum to achieve
the expected bearish intraday trend. Chances of achieving these expectations will prevail is trading remains below 1.1215.
The trading range for today is among the key support at 1.0925 and the key resistance at 1.1215.
The short term trend is to the upside as far as 1.0200 remains intact with targets at 1.2295.
USDCAD
The pair has pushed to the upside to revisit pivotal resistance 1.0330, clearly appearing in the sideway range that has been cornering the pair’s trading since the beginning of the week. The pair rebounded from the mentioned resistance, accompanied by negative crossover signs appearing through the stochastic and thereby making us
expect a bullish intraday trend that will initially start with the breach of support for this range around 1.0220 and head towards 1.0110. The breach of 1.0330 could postpone achieving the expected bearish targets.
The trading range for today is among the key support at 1.0125 and the key resistance at 1.0415.
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The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.
