EURO
The European currency last week declined as it failed to create a bullish move above the major resistance level at 1.4820 to allow the Euro to hit the low at the key support level at 1.4440s. The Euro now sees the tendency towards the downside again after initiating some bearish signals.
The trading range for today might be between the key resistance level at 1.4600 and the key support level at 1.4400.
The general trend is up as far as 1. 4060 remains intact targets now at 1.5000 and 1.5360
| Support | 1.4430 | 1.4409 | 1.4377 | 1.4345 | 1.4327 |
| Resistance | 1.4455 | 1.4470 | 1.4490 | 1.4511 | 1.4530 |
Recommendation | We expect selling Euro below 1.4535 with a target at 1.4465 stop loss above 1.4575. | ||||
GBP
The British pound yesterday rallied to the downside direction in a very strong pattern with obvious high levels of volume to allow the pound to pass the major support level at 1.9490 to hit the low at the levels of 1.9420s. Therefore, the pound today is expected to continue in the downside direction.
The trading range for today might be between the key resistance level at 1.9550 and the key support level at 1.9350.
The general trend is down as far as 2.0200 remains intact targets now at 1.9230 and 1.8700.
| Support | 1.9400 | 1.9380 | 1.9362 | 1.9346 | 1.9325 |
| Resistance | 1.9440 | 1.9462 | 1.9483 | 1.9507 | 1.9530 |
Recommendation | We expect selling sterling below 1.9490 with a target at 1.9385 stop loss above 1.9550. | ||||
JPY
The dollar against the Japanese yen fluctuated last week with tendency towards the downside as it passed the critical support level at 106.20s to reach the next support at 105.60s. Despite showing some tendency to the upside by the end of yesterday's session, today we see the pair declining.
The trading range for today will be between the key resistance at 108.50 and the key support at 106.00.
The general trend is down as far as 115.00 remains intact, targets at 101.60 and 95.90.
| Support | 106.90 | 106.65 | 106.30 | 106.14 | 106.90 |
| Resistance | 107.20 | 107.40 | 107.80 | 108.07 | 108.30 |
Recommendation | ... | ||||
CHF
The dollar against the SWISS Frank last week jumped in the bullish direction as it showed fake tendency to the downside due to the key support level at 1.1000s resulting in the pair rallying last week in the upside direction with high levels of volume to breach the key resistance at 1.1060s. Today we expect the pair to progress in the upside direction.
The trading range for today will be between the key resistances at 1.1230 the key support at 1.0900.
The general trend is down as far as 1.1660 remains intact, targets at 1.0700 and 1.0550.
| Support | 1.1067 | 1.1030 | 1.0987 | 1.0965 | 1.0940 |
| Resistance | 1.1092 | 1.1119 | 1.1137 | 1.1160 | 1.1192 |
Recommendation | We expect buying USD/CHF above 1.1000 with a target at 1.1100, stop loss below 1.0950. | ||||
CAD
The dollar against the Canadian yesterday fell with some new bearish targets as low as 0.9950s. As for today, the technical oscillators show some tendency towards the downside.
The trading range for today will be between the key resistance at 1.0150 and the key support at 0.9780.
The general trend is down as far as 1.0700 remains intact, targets will be 0.9030 and 0.8840.
| Support | 1.10670.9950 | 0.9920 | 0.9900 | 0.9880 | 0.9855 |
| Resistance | 0.9975 | 1.0007 | 1.0024 | 1.0051 | 1.0078 |
Recommendation | We expect selling USD/CAD below 1.0020 with a target at 0.9930, stop loss above 1.0070. | ||||