euro
The downside trend was evident on the pair yet as it somewhat stabled during New York's session yesterday, this didn't stop the pair from further extending its losses. The neutral trend seen yesterday helped the pair get exit an oversold area on an intraday basis. From here we see that the pair still has the chance to decline further near the 1.2530 levels as far as the key support for the short term trend at 1.3070 remains intact. The trading range is among the key support at 1.2560 and key resistance at 1.3070; whereas the general trend is to the downside as far as 1.5080 remains intact with targets at 1.2705 and 1.2480
| Support | 1.2705 | 1.2685 | 1.2635 | 1.2560 | 1.2530 |
| Resistance | 1.2760 | 1.2815 | 1.2860 | 1.2895 | 1.2960 |
| Recommendation | ... | ||||
gbp
The pair continues to trade within a downside channel that has become more steeper after remaining below the 50% correction at 1.6545 for the long term ascending channel that started in 2001 and ended in November 2007. We could witness silight upside movements but the downside trend is still targeting levels below 1.60 as far as trading remains below 1.6840 on the short term and 1.6415 on an intraday basis The trading range is among the key support at 1.6020 and key resistance at 1.6550; whereas the general trend is to the downside as far as 1.9400 remains intact with targets at 1.6090 and 1.5450
| Support | 1.6180 | 1.6150 | 1.6095 | 1.6070 | 1.6020 |
| Resistance | 1.6265 | 1.6305 | 1.6345 | 1.6400 | 1.6445 |
| Recommendation | ... | ||||
jpy
The breakout of the 99.30 level resulted in further declined since this was the last support fo the short term ascending channel. As trading remains below this level, we expect the continuation of the downside trend where the 97.40 is the last key support for the short term and the pair is waiting for a daily close below the level similar to what we witnessed on Marc 17, 2008. The trading range is among the key support at 95.80 and key resistance at 101.60; whereas the general trend is to the downside as far as 104.60 remains intact with targets at 98.55 and 97.30
| Support | 97.00 | 96.85 | 96.65 | 96.20 | 95.80 |
| Resistance | 98.20 | 98.50 | 99.85 | 100.25 | 100.80 |
| Recommendation | ... | ||||
chf
Trading is still around the 1.1665 level which is a critical level since it halts the pair from reaching further upside targets at 1.1800 - 1.1820. Despite being overbought on several time frames, we see that the breach of this level will open the way for further inclines but a downside correction and volatile movements shouldn't be ignored as we see mixed signals among the different momentum and direction indicators on the short term yet the upside direction on the short term will remain as long as trading is above the 1.1490 level. The trading range is among the key support at 1.1415 and key resistance at 1.1820; whereas the general trend is to the upside as far as 1.0970 remains intact with targets at 1.1795 and 1.1850
| Support | 1.1615 | 1.1580 | 1.1535 | 1.1490 | 1.1445 |
| Resistance | 1.1710 | 1.1780 | 1.1820 | 1.1880 | 1.1970 |
| Recommendation | ... | ||||
cad
The Stochastic indicator is trading above the 90 level showing that the pair is being heavily overbought at a time where the relative strength indicator is trading above the 80 level. However, direction indicators are still showing the potential for further upside movements. The upside trend gained strength after breaching the key resistance yesterday at 1.2350 where if it maintained these levels for today, tha pair could target 1.2610 at the very least. Monitor markets closely as the pair nears the resistance levels since the pair is being overbought. The trading range is among the key support at 1.1950 and key resistance at 1.2790; whereas the general trend is to the upside as far as 1.0730 remains intact with targets at 1.2610 and 1.2790
| Support | 1.2535 | 1.2450 | 1.2395 | 1.2350 | 1.2266 |
| Resistance | 1.2610 | 1.2630 | 1.2670 | 1.2700 | 1.2790 |
| Recommendation | .. | ||||