EUR/USD
After moving to the upside, the pair traded weakly yesterday with a bearish bias. The downside move is still limited above 1.3905 levels, while stability above this level is positive and could keep the bullish bias valid in an attempt to test 1.4005 and 1.4045.
On the downside, its significant not to break 1.3850 as it will apply a clear negative pressure and activate the negative signal on Stochastic. Generally, Linaer Regression Indicators are positive supporting our expectations for today, but trading stably above 1.3935 is required to confirm the positive expectations.
GBP/USD
The downside move was halted yesterday above Linear Regression Indicator 34 and 1.6920, as stability above these levels keep the bullish bias valid in an attempt to test the psychological barrier 1.7000 and 161.8% correction at 1.7045. Trading above 1.6870 keeps the bullish possibility valid today and the upcoming period, but the pair should stabilize intraday above 1.6920 levels to keep the bullish possibility valid.
AROON Indicator is showing the strength of the upside move, and MACD signal lines are trading to the upside while Linear Regresison Indicators are trading postively supporting our expectations. Of note, a break above 1.7045 is required to confirm the bullish extension, and failing to breach the referred to level enters the pair into a bearish correctional wave.
USD/JPY
The pair is stable above the main support shown on graph keeping the upside trend valid, targeting 102.15. A breakout below 101.80 then 101.35 will halt the positive expectations and push the pair lower, redirecting the intraday move to the downside, possible test 100.70 then 100.00 areas.
USD/CHF
The pair remains stable below the broken support shown on graph, where the support turned into resistance at 0.8780, keeping the downside move valid over intraday basis. The upside targets mainly start at 0.8700 and extend toward 0.8645. A breach of 0.8780 areas followed by 0.8805 will push the pair toward 0.8870 and extend toward 0.8925.
USD/CAD
The pair confirmed the breakout below 1.0905 with a daily closing, keeping the downside pressure valid over intraday basis. The targets are now at 1.0800 then 1.0705. Te breach of 1.0905 then 1.0950 will halt the negative pressure and push the pair toward 1.1050 areas initially.
AUD/USD
The pair extended the upside move and is trading close to Linear Regression Indicator 55 today at
0.9395. A break above the referred to level could extend the upside move especially if we witnessed a daily closing above it.
Generally, positivity is available today as long as the pair is stable above 0.9335 represented in 61.8% correction with targets residing at 78.6% correction at 0.9520. On the long term, a break below 0.9205 could fail the generall positivity, but we will depend today on stabilizing above 0.9300 to keep our intraday expectations.
NZD/USD
The pair dropped after touching the support level of the breached ascending channel that was previously broken and turned to resistance as showing on graph. MACD and AROON Indicators are showing clear negativity, as Linear Regression Indicators negatively crossed over. All the previous catalysts indicates that the downside move is available for today.
Of note, Risk/Reward Ratios are inappropriate because Linear Regression Indicators reside at 23.6% correction at 0.8720, while 61.8% correction resides at 0.8615 levels which is close to the current price. Therefore, we remain neutral but we expect a downside move in our analysis.
