Midday Report
The pair is trading within a narrow range since morning with a slight downside bias, while Stochastic remains downside biased. Accordingly, our morning expectations remain valid and we recommend reviewing our morning report for more details.
The expected trading range for the day is among the key support at 117.35 and the key resistance at 122.10.
The short term trend is to the downside so far as 150.00 remains intact targeting 112.00.
| Support | 118.85 | 118.00 | 117.35 | 116.90 | 116.00 |
| Resistance | 119.50 | 120.40 | 120.80 | 21.30 | 122.10 |
| Recommendation | Based on the charts and explanations above we recommend buying the pair with hourly closing above 120.40 targeting 122.10 and stop loss with hourly closing below 119.50 may be appropriate. | ||||
Euro vs. Japanese Yen (EUR / JPY)
Midday Report
The pair is trading with a positive bias to surpass the retest level again -as shown on the image- to activate our morning scenario which remains valid so long as 105.10 is intact.
The expected trading range for the day is among the key support at 100.90 and the key resistance at 104.30.
The short term trend is to the upside so far as 123.30 remains intact targeting 94.80.
| Support | 104.05 | 103.65 | 102.75 | 102.30 | 101.35 |
| Resistance | 104.30 | 105.10 | 105.75 | 106.20 | 106.95 |
| Recommendation | Our morning expectations remain valid. | ||||
Euro vs. Great British Pound (EUR / GBP)
Midday Report
The pair rallied to the upside to surpass the pivotal resistance among 0.8710-0.8690 and trades now above the 23.6% Fibonacci level. The rally maybe a sign that the pair settled for the downside correction that took place for now, therefore, we recommend staying aside for the rest of the day and monitor trading among 0.8790 resistance and 0.8680 support.
The expected trading range for the day is among the key support at 0.8500 and the key resistance at 0.8790.
The short term trend is to the upside so far as 0.8165 remains intact targeting 1.0370.
| Support | 0.8710 | 0.8680 | 0.8645 | 0.8595 | 0.8500 |
| Resistance | 0.8790 | 0.8845 | 0.8885 | 0.8925 | 0.9000 |
| Recommendation | Based on the charts and explanations above we recommend staying aside awaiting more confirmations for the next move. | ||||
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