EUR/USD - Technical Report
Just below our previous defined technical objective for the recovery, the EUR/USD pair has showed bearish tendencies once again with the major downtrend. Additionally, a bearish candlestick pattern has been formed with MACD resisted as well. RSI14 has found momentum resistance at the value of 50.00, but these negative factors contradict with the positivity on Linear Regression; accordingly, we will stand aside today.
GBP/USD - Technical Report
The pair has plummeted once again from 1.4850 regions approaching the short-term recorded low of 1.4700. Over daily studies, RSI14 is still in need for relief, but Linear Regression continues to cover the price actions from the topside. The sensitivity of current trading levels forces us to stay aside over intraday basis; noting that, a break below 1.4700 will trigger string bearish actions.
USD/JPY - Technical Report
USD/JPY pair continued trading within a tight range below 121.85 resistance level. Trading below the aforesaid resistance keeps the probability of a down move correction wave. However, breaching 120.70 is needed to confirm this expectation; as RSI and MACD indicators need the pair to breach 120.70 support to turn negative.
From the upside, breaching 121.85 will cancel any bearish expectation and cause another up wave to occur targeting 122.60.
USD/CHF - Technical Report
The pair touched the rising trend line shown on the image above; the aforesaid trend line is the key support for bullishness during today's trading which located at 1.0035. Trading above 1.0035 is not the only thing we need to confirm bullishness over the intraday trading, as breaching 1.0090 is needed.
Anyway, we will expect bullish move today as long as the pair trades above 0.9980 support level.
