EUR/USD - European Session
The pair dropped sharply following the Federal Reserve meeting and Janet Yellen's statements yesterday, where the pair broke 1.2360 and stabilized below it and is trading again within the descending channel showing on graph.
Breaking 1.2280 and stabilizing below it extends the bearish wave to target 1.2200 and 1.2165 and 1.2110. Breaching 1.2485 activates the positive expectations to target 1.2565 and 1.2635, according to that, negative expectations below 1.2280 and positive above 1.2485.
GBP/USD - European Session
The pair closed that daily candle below 1.5585 reactivating the main bearish scenario within the descending channel showing on graph, while the pair is targeting 1.5425 in the coming poriod. MACD is almost providing a negative crossover that support the expected bearishness, that remains valid by stabilizing below 1.5730.
USD/JPY - Technical Report
The pair breached 117.90 and stabilizing above it is positive and favors retesting 119.05, as breaching the referred to level extends the upside move to target 112.00 and 120.80 and 112.70. Trading above 117.90 is positive and support the suggested positive expectations, while breaking 116.65 fails them.
USD/CHF - Technical Report
The pair inched higher and breached 0.9725 and stabilizing above it is required to cofirm the bullish expectations to target 0.9770 and 0.9815, but these positive expectations depends on stabilizing above 0.9725. If the pair failed to stabilize above 0.9725 and break 0.9685, this brings back the downside move targeting 0.9645 and 0.9615. According to that, 0.9725 are pivotal levels and determines the next move.
USD/CAD - Technical Report
After yesterday's downside move, the pair traded again close to the resistance 1.1675 representend in the key resistance of the minor ascending channel combined with the key resistance of the long-term ascending channel at 161.8% correction. Trading below this level favors a bearish correction and another attempt to the downside, especially with RSI failing to breach line 70 to the upside.
Of note, breaching 1.1730 and stabilizing above it starts another bullish wave and fails any other attempt to the downside on the intraday time intervals.
AUD/USD - Technical Report
The pair failed to stabilize above 0.8200 strengthening our previously suggested negative expectations, as stabilizing below it extends the downside move targeting 0.8140 and 0.8100 and 0.8055. Trading below 0.8200 is negative and support the bearish expectations now, while a break above 0.8305 fails them.
NZD/USD - Technical Report
Once again, the pair rebounded from levels around 0.7700 in Asian trading today, and the attempt to break the referred to level failed yesterday, while 0.7660 levels remained stable in front of the bearish attempts, and the pair is trading again above the bottom of the sideways range.
In fact, the bullish possibility is valid today provided not to break 0.7660 then breach 0.7800 later to confirm extending the upside move.
