EUR/USD" width="1596" height="746">The pair’s attempt to the upside yesterday remained limited below 1.3230 levels then stabilized again below 38.2% correction at 1.3185 as shown on graph. Stochastic is showing negativity again giving the possibility of a downside move today. Of note, trading stably below 1.3150 is important to strengthen the downside move.
The trading range for today is among the key support at 1.3020 and key resistance at 1.3290.
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 88.6% correction at 1.5645 it dropped again proving the strength of this level which we count on to suggest a downside move today. Momentum Indicators are showing negativity and Linear Regression Indicators represents significant resistances for the pair despite being positive.
The trading range for today is among the key support at 1.5425 and key resistance at 1.5770.
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 is still stable above 99.35 represented in 61.8% correction forcing us to hold on to our positive expectations. Stability above 61.8% correction indicates another possibility of an upside move even if the pair is around key resistance level of the ascending channel, but the possibility of extending bullishness is valid unless the pair broke 99.35 levels.
The trading range for today is among key support at 98.65 and key resistance at 100.90.
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 is at the resistance level of the expanding sideways range as shown on graph; meanwhile the pair is stable above 38.2% correction at 0.9380. The referred to resistance level resides at 0.9415, as we see the pair within a tight range between 0.9380 and 0.9415 forcing us to remain intraday neutral today because Risk/Reward Ratio is inappropriate and some bullishness is expected.
The trading range for today is among key support at 0.9290 and key resistance at 0.9525.
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 pair broke 23.6% correction towards the first target of the bearish harmonic Bat Pattern. Therefore, we hold on to our negative expectations as RSI and Stochastic are trading in a downside move below line 50.
The trading range for today is between the key support at 1.0450 and the key resistance at 1.0640.
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 retreats after testing the descending resistance for the recent sideways consolidation, a downside pullback is probable now after the major bullish run . However, settling back above the 50-days SMA and 0.9100 suggest the upside may extend further.
NZD/USD
NZD/USD" width="1596" height="746">
The bullish move was halted near 0.7930 key resistance region, where a pullback is reasonable after a the strong gains. The bullish scenario remains slightly favored, but we will wait for a break above the aforementioned resistance at 0.7930 to suggest further upside.