European Session:
EUR/USD
EUR/USD" width="1596" height="746" />
The pair dropped sharply yesterday and is trading below Linear Regression Indicator 34 and 55, which weakened the positive expectations outlined yesterday. Meanwhile, the pair is stable above key resistance level that affected the pair since top 1.3711 and above 1.3315 levels represented in 23.6% correction, so we cannot favor the extension of bearishness. Therefore, we will remain intraday neutral in the European session waiting for confirmation signals.
The trading range for today is among the key support at 1.3205 and key resistance at 1.3440.
The general trend over short term basis is sideways targeting 1.2775 as far as 1.3600 is daily-closing.
GBP/USD
GBP/USD" width="1596" height="746" />
After the pair touched levels around 1.5715 then dropped again and stabilized below 1.5645, Linear Regression Indicator 34 as shown on graph. This drop is accompanied by the negative signals on Stochastic, and there is also a possibility of some bearishness today. The downside move depends on 1.5550 levels; whereas stability below it will extend the downside move while failing to break it might limit the downside move.
The trading range for today is among the key support at 1.5470 and key resistance at 1.5750.
The general trend over short term basis is to the upside as far as areas of 1.5100 remains intact targeting 1.6010.
USD/JPY
USD/JPY" width="1596" height="746" />
The pair moved to the upside and managed to stabilize above 97.65 levels followed by 98.05 failing our negative expectations of yesterday. But, we cannot be positive now because the pair is still trading within the descending channel as shown on graph. Therefore, we will remain intraday neutral today.
The trading range for today is among key support at 97.05 and key resistance at 99.40
The general trend over short term basis is to the downside as far as areas of 103.50 remain intact targeting 93.50.
USD/CHF
USD/CHF" width="1596" height="746" />
The pair moved to the upside yesterday and is trading above 0.9205. Again taking the pair to trade also above Linear Regression Indicator 34 and 55. The upside move also took the pair to trade above the bullish support shown on graph. All these circumstances forces us to think that there is an upside possibility to test 0.9265 levels represented in 78.6% correction again, and if the pair managed to stabilize above it we might see further bullishness.
The trading range for today is among key support at 0.9130 and key resistance at 0.9370.
The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860.
USD/CAD
USD/CAD" width="1596" height="719" />
The bullish long candle achieved yesterday shown on the graph forces us to think that there is a possibility of further bullishness today. Stability above 61.8% and correction at 1.0470 will extend the upside move to test 78.6% correction and perhaps 88.6% respectively residing at 1.0530 and 1.0565.
The trading range for today is between the key support at 1.0425 and the key resistance at 1.0565.
The general trend over short term basis is to the upside with steady daily closing above levels 1.0100 targeting 1.0775.
AUD/USD
AUD/CAD" width="1596" height="746" />
The pair extended the bearish move, holding well below 0.9070 broken support, after completing a retest to the 50-days SMA. Accordingly, the bearish scenario remains favored.
NZD/USD
NZD/USD" width="1596" height="746" />
The NZD/USD moved sharply lower, extending losses to levels near 0.7800, settling below the 50-days SMA. Accordingly, the bearish bias is favored over intraday basis, eying a retest of the bottom of the sideways range.
GBP/JPY
GBP/JPY" width="1596" height="762" />
The GBP/JPY pair trades steady above 153.00 with Thursday's opening boosting our outlook for a potential uptrend. We expect targets close to 153.75 then at 154.65. Breaking 152.15 will weaken chances of confirming the expected targets.
Trading range expected today is between the main support at 152.15 and the main resistance 155.00.
Short-term trend is to the upside, targeting 163.00 if 147.65 remains intact.
EUR/JPY
EUR/JPY" width="1596" height="762" />
The EUR/JPY pair has breached 130.85 early Thursday trading as the Stochastic offers continuous positive signs, supporting our expectations for an uptrend. Next targets are at 131.95, extending to 132.70. Note that breaking 130.85 could clear the path for the price to retest 129.70 again.
Trading range expected today is between the main support at 129.70 and the main resistance at 132.40.
Short-term trend is to the upside, targeting 140.00 if 124.95 remains intact.
EUR/GBP
EUR/GBP" width="1596" height="746" />
The pair touched levels above 0.8570 only to retreat again, attempting to resume the overall bearish wave. We expect the pair to remain under pressure so long as the 0.8580-0.8600 area is holding.
EUR/USD
EUR/USD" width="1596" height="746" />The pair dropped sharply yesterday and is trading below Linear Regression Indicator 34 and 55, which weakened the positive expectations outlined yesterday. Meanwhile, the pair is stable above key resistance level that affected the pair since top 1.3711 and above 1.3315 levels represented in 23.6% correction, so we cannot favor the extension of bearishness. Therefore, we will remain intraday neutral in the European session waiting for confirmation signals.
The trading range for today is among the key support at 1.3205 and key resistance at 1.3440.
The general trend over short term basis is sideways targeting 1.2775 as far as 1.3600 is daily-closing.
GBP/USD
GBP/USD" width="1596" height="746" />After the pair touched levels around 1.5715 then dropped again and stabilized below 1.5645, Linear Regression Indicator 34 as shown on graph. This drop is accompanied by the negative signals on Stochastic, and there is also a possibility of some bearishness today. The downside move depends on 1.5550 levels; whereas stability below it will extend the downside move while failing to break it might limit the downside move.
The trading range for today is among the key support at 1.5470 and key resistance at 1.5750.
The general trend over short term basis is to the upside as far as areas of 1.5100 remains intact targeting 1.6010.
USD/JPY
USD/JPY" width="1596" height="746" />The pair moved to the upside and managed to stabilize above 97.65 levels followed by 98.05 failing our negative expectations of yesterday. But, we cannot be positive now because the pair is still trading within the descending channel as shown on graph. Therefore, we will remain intraday neutral today.
The trading range for today is among key support at 97.05 and key resistance at 99.40
The general trend over short term basis is to the downside as far as areas of 103.50 remain intact targeting 93.50.
USD/CHF
USD/CHF" width="1596" height="746" />The pair moved to the upside yesterday and is trading above 0.9205. Again taking the pair to trade also above Linear Regression Indicator 34 and 55. The upside move also took the pair to trade above the bullish support shown on graph. All these circumstances forces us to think that there is an upside possibility to test 0.9265 levels represented in 78.6% correction again, and if the pair managed to stabilize above it we might see further bullishness.
The trading range for today is among key support at 0.9130 and key resistance at 0.9370.
The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860.
USD/CAD
USD/CAD" width="1596" height="719" />The bullish long candle achieved yesterday shown on the graph forces us to think that there is a possibility of further bullishness today. Stability above 61.8% and correction at 1.0470 will extend the upside move to test 78.6% correction and perhaps 88.6% respectively residing at 1.0530 and 1.0565.
The trading range for today is between the key support at 1.0425 and the key resistance at 1.0565.
The general trend over short term basis is to the upside with steady daily closing above levels 1.0100 targeting 1.0775.
AUD/USD
AUD/CAD" width="1596" height="746" />The pair extended the bearish move, holding well below 0.9070 broken support, after completing a retest to the 50-days SMA. Accordingly, the bearish scenario remains favored.
NZD/USD
NZD/USD" width="1596" height="746" />The NZD/USD moved sharply lower, extending losses to levels near 0.7800, settling below the 50-days SMA. Accordingly, the bearish bias is favored over intraday basis, eying a retest of the bottom of the sideways range.
GBP/JPY
GBP/JPY" width="1596" height="762" />The GBP/JPY pair trades steady above 153.00 with Thursday's opening boosting our outlook for a potential uptrend. We expect targets close to 153.75 then at 154.65. Breaking 152.15 will weaken chances of confirming the expected targets.
Trading range expected today is between the main support at 152.15 and the main resistance 155.00.
Short-term trend is to the upside, targeting 163.00 if 147.65 remains intact.
EUR/JPY
EUR/JPY" width="1596" height="762" />The EUR/JPY pair has breached 130.85 early Thursday trading as the Stochastic offers continuous positive signs, supporting our expectations for an uptrend. Next targets are at 131.95, extending to 132.70. Note that breaking 130.85 could clear the path for the price to retest 129.70 again.
Trading range expected today is between the main support at 129.70 and the main resistance at 132.40.
Short-term trend is to the upside, targeting 140.00 if 124.95 remains intact.
EUR/GBP
EUR/GBP" width="1596" height="746" />The pair touched levels above 0.8570 only to retreat again, attempting to resume the overall bearish wave. We expect the pair to remain under pressure so long as the 0.8580-0.8600 area is holding.