euro
Unless traded above the 1.4800 resistance level, we can't accept any upside movements as a change in the direction of the pair. What we are witnessing until now is a correction to continue the downside movements yesterday. Direction indicators show that the pair is still pressured to the downside yet could find the 1.4660 level a strong obstacle to extend the bearins movements where this level is the pivot point for today. Volume of trading on the pair is still weak as seen on several indicators.
The trading range for today might extend among the support level at 1.4590 and the resistance level at 1.4840
The general trend remains to the downside as far as 1.5830 remains intact with targets at 1.4870 and 1.4340
| Support | 1.4690 | 1.4660 | 1.4630 | 1.4590 | 1.4530 |
| Resistance | 1.4750 | 1.4760 | 1.4810 | 1.4840 | 1.4875 |
| Recommendation | ... | ||||
gbp
After the sharp decline seen yesterday we expcet to see vigorous correctional movements. However, trading below 1.8530 yesterday which extended into today will cause the pair to initiate another descending channel although momentum and directional indicators on the intraday charts are mixed. The trend on the medium term is clearly to the downside.
The trading range for today might extend among the support level at 1.8290 and the resistance level at 1.8690
The general trend remains to the downside as far as 1.9485 remains intact with targets at 1.8070
| Support | 1.8415 | 1.8350 | 1.8325 | 1.8290 | 1.8225 |
| Resistance | 1.8485 | 1.8500 | 1.8530 | 1.8610 | 1.8690 |
| Recommendation | ... | ||||
jpy
A clear stability around the 109 level as the pair is maintaining the momentum now that the momentum and direction indicators show a neutral short term trend. Despite our expectaions that the medium term and short term trends are to the upside, yet on an intraday basis the pair will see heavy fluctuations. We expect today to see upside movemented after the decline seen in the early morning asian transactions to reach the 20 hour moving average at 109.50 at the very least.
The trading range for today might extend among the support level at 108.35 and the resistance level at 110.75
The general trend remains to the upside as far as 103.00 remains intact with targets at 111.00 and 113.24
| Support | 109.10 | 108.90 | 108.65 | 108.35 | 107.90 |
| Resistance | 109.90 | 110.20 | 110.45 | 110.70 | 111.00 |
| Recommendation | ... | ||||
chf
The pair was able to breach the resistance level at 1.1030 but unfortunately couldn't maintain the level as it reversed to close below it. From here we expect to see sideways fluctuations with tendency to the downside to breach the 1.1030 level but trading below this level will cause the pair to decline on the short term since the medium term trend is still to the upside.
The trading range for today might extend among the support level at 1.0800 and the resistance level at 1.1070
The general trend remains to the upside as far as 1.0570 remains intact with targets at 1.1025 and 1.1455
| Support | 1.0935 | 1.0915 | 1.0870 | 1.0820 | 1.0800 |
| Resistance | 1.1010 | 1.1030 | 1.1070 | 1.1100 | 1.1145 |
| Recommendation | ... | ||||
cad
Weak upside signals that we have pointed out yesterday resulted in the decline of the pair after attempting and failing to breach the 1.0550 level. The pair is now stalling around the 38.2% correctional level at 1.0440 trying to gather more bullish momentum where we see now the pair might incline today to retest the 23.6% correction at 1.0550 where it would have gathered enough momentum to break the intraday resistance at 1.0570. The medium term trend is still strong and we expect to see heavy fluctuations but favoring the dollar.
The trading range for today might extend among the support level at 1.0360 and the resistance level at 1.0695
The general trend remains to the upside as far as 1.0350 remains intact with targets at 1.0825 and 1.1000
| Support | 1.0440 | 1.0415 | 1.0360 | 1.0315 | 1.0260 |
| Resistance | 1.0550 | 1.0570 | 1.0605 | 1.0655 | 1.0695 |
| Recommendation | ... | ||||