EURUSD
The pair strongly rushed to the upside attacking the retest level for the previously breached minor bullish channel at 1.2335, due to positive effect from momentum indicators.
As mentioned in the morning report, the breach of this level and building a base above it will pave the way for additional bullishness towards the vital resistance at 1.2470. Meanwhile, the bullish technical pattern shown in the weekly report remains intact, where the last descend is expected to form the right shoulder of this bullish pattern. We recommend observing trading around 1.2335 for chances of it either holding its stance or being breached.
The trading range for today is among the key support at 1.2000 and the key resistance at 1.2470.
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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 breached the support for the ascending channel but found difficulty surpassing 1.4870, thus pushing the pair to ascend once again to retest the breached support. The positive pressure from momentum indicators will continue pushing the pair to the upside, where it is vital to observe trading. Overall, our morning expectations remain intact unless 1.5010 is breached.
The trading range for today is among the key support at 1.4765 and the key resistance at 1.5070.
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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 gradually neared the awaited resistance level at 88.55; therefore, no mentionable change is seen since our morning report. We hold onto our expectations as long as trading remains below 89.30.
The trading range for today is among the key support at 87.30 and the key resistance at 89.30.
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The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.
USDCHF
The pair built a base on 1.0765 before touching the suggested morning retest level at 1.0790, initiating the bearish move towards the primary target around 1.0600. We expect further intraday bearishness with possible fluctuations due to the clear oversold signs on momentum indicators.
The trading range for today is among the key support at 1.0600 and the key resistance at 1.0835.
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The short term trend is to the upside as far as 1.0200 remains intact with targets at 1.2295.
USDCAD
The pair is gradually descending, according to the suggested scenario, in an attempt to build a base on 1.0595 due to negative signs on momentum indicators. Thus, our expectations remain intact if 1.0520 remains intact for our bullish expectations to prevail.
The trading range for today is among the key support at 1.0520 and the key resistance at 1.0825.
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