EUR/USD - European Session
The great volatility of yesterday remained limited between Linear Regression Indicators that are trading negatively. Stochastic achieved a negative crossover and is trading to the downside below line 50 indicating the possibility of negativity for today. But the minor support 1.3580 proved its strength this week and the week before, and that requires stability below the latter to push the pair towards the suggested target 1.3820.
The downside move is valid due to stabilizing below 23.6% correction that leads to testing 1.3520. Stability below 1.3705 could test 1.3520.
GBP/USD - European Session
The above graph shows that the pair retested the broken support of the ascending channel that turned to resistance. The pair also retested 38.2% correction and Linear Regression Indicator 34 around 1.6795, as trading below it is negative.
AROON and MACD Indicators are showing negativity, while Linear Regression Indicators are also trading in a negative bias supporting the possibility of extending bearishness today. Its significant to break 1.6695 to confirm the downside move, then break 1.6665 to push the pair to a stronger bearish wave.
USD/JPY - European Session
The pair is still providing positive trading after confirming the breach of 102.05 to strengthen our bullish expectations over short and intraday basis targeting 104.45 then 105.00. Stochastic is providing positive signals supporting the suggested bullishness, as extendign it requires stability above 101.40.
USD/CHF - European Session
USDCHF settled above 0.8950 main resistance level and neckline for the major double bottom formation shown on the daily chart, where price is found resistance and fluctuating at the 200-days SM. The bullish bias remains favored as as long as price is stable above 0.8950. targeting 0.9050 and 0.9150 levels over the medium term.
USD/CAD - European Session
USDCAD extends the bullish rebound , hitting 1.0940 main near term resistance level, in addition to the 50-days SMA. A break above that resistance would complete a bullish reversal double bottom formation and signal more upside, targeting initially 1.1050 next potential resistance level.
AUD/USD - European Session
AUDUSD is pushing slightly higher, however price remains below the 50-days SMA and 0.9300 resistance area, and that favores the bearish resumption scenario, for a potential retest of 0.9200 major support level. A break below 0.9200 will probably signal a major bearish reversal. For now, we still favor the bearish scenario as long as price is stable below 0.9300.
NZD/USD - European Session
NZDUSD extended the bearish move, approaching the main support area around 0.8400 which is our downside targeted support zone, just near the 200-days SMA as well. Further downside remains likely towards that support, as long as 0.8450-0.8475 resistance level is intact. A break above 0.8475 may call for an extended bullish correction.
