EURO
The European currency yesterday progressed in the upside direction with high volatility reflecting the huge levels of volume, which played a significant role to allow the euro to breach the solid resistance level at 1.5700s. Today we expect the euro to progress in the upside direction as well.
The trading range for today might be between the key resistance level at 1.5970 and the key support level at 1.5690.
The general trend is up as far as 1. 4260 remains intact targets now at 1.6080 and 1.6360.
| Support | 1.5786 | 1.5743 | 1.5690 | 1.5660 | 1.5638 |
| Resistance | 1.5833 | 1.5857 | 1.5881 | 1.5905 | 1.5918 |
Recommendation | We expect buying euro above 1.5787 with a target at 1.5900, stop loss below 1.5725 | ||||
GBP
The British pound yesterday fluctuated with high levels of volume due to the strong bullish momentum to hit the key resistance level at 2.0110 after it hit the key support level at 1.9920s. Today the pound seems to move in the upside trend.
The trading range for today might be between the key resistance level at 2.0200 and the key support level at 1.9880.
The general trend is down as far as 2.0200 remains intact targets now at 1.9230 and 1.8700.
| Support | 2.0023 | 1.9975 | 1.9952 | 1.9928 | 1.9903 |
| Resistance | 2.0048 | 2.0066 | 2.0089 | 2.0117 | 2.0134 |
Recommendation | We expect buying sterling above 2.0010 with a target at 2.0150 stop loss below 1.9950 | ||||
JPY
The dollar against the Japanese yen yesterday traded within the downside direction as it couldn't break the key resistance level at 100.30s taking the pair back below the minor trend line to hit the key support at 98.90s. Today the pair is expected to move in the downside direction.
The trading range for today will be between the key resistance at 100.70 and the key support at 97.70.
The general trend is down as far as 109.00 remains intact, targets at 92.40and 90.00.
| Support | 99.34 | 99.11 | 98.82 | 98.45 | 98.15 |
| Resistance | 99.74 | 100.21 | 100.39 | 100.70 | 101.01 |
Recommendation | ... | ||||
CHF
The dollar against the SWISS Frank yesterday rallied in a strong bearish pattern to hit the critical support level at 0.9900s with high levels of volume as it reversed down from the important resistance level at 1.0112. Today the pair is expected to progress in the downside direction.
The trading range for today will be between the key resistances at 1.0115 the key support at 0.9780.
The general trend is down as far as 1.1000 remains intact, targets at 0.9670and 0. 9370.
| Support | 0.9900 | 0.9888 | 0.9860 | 0.9838 | 0.9812 |
| Resistance | 0.9927 | 0.9951 | 0.9970 | 0.9998 | 1.0023 |
Recommendation | We expect selling USD/CHF below 0.9945 with a target at 0.9820, stop loss above 1.0000 | ||||
CAD
The dollar against the Canadian yesterday moved in the downside trend in the first session to hit the key support level at 1.0090 before reversing back to the upside direction. Hence today we expect the pair to move with a neutral pattern due to restrictions.
The trading range for today will be between the key resistance at 1.0295 and the key support at 0.9960.
The general trend is down as far as 1.0700 remains intact, targets will be 0.9030 and 0.8840.
| Support | 1.0168 | 1.0132 | 1.0117 | 1.0089 | 1.0067 |
| Resistance | 1.0204 | 1.0226 | 1.0257 | 1.0277 | 1.0295 |
Recommendation | ... | ||||