Midday Report
The pair remains stuck among the sensitive levels between 118.85 and 120.40, we need the pair to surpass one of the levels to signal the upcoming possible direction. Therefore, our morning expectations remain unchanged, and we advice 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 | 119.50 | 118.85 | 118.00 | 117.35 | 116.90 |
| Resistance | 120.40 | 120.80 | 121.30 | 122.10 | 122.65 |
| 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 within a narrow range since morning and below the resistance level shown on the image -in red- while Stochastic is positive. Therefore, the indecisive price action push us to remain on the side awaiting confirmations around the 103.25 and 104.90 resistance.
The expected trading range for the day is among the key support at 101.75 and the key resistance at 105.30.
The short term trend is to the upside so far as 123.30 remains intact targeting 94.80.
| Support | 103.65 | 103.25 | 102.75 | 102.30 | 101.75 |
| Resistance | 104.05 | 104.40 | 105.10 | 105.75 | 106.40 |
| Recommendation | Based on the charts and explanations above we recommend staying aside awaiting more confirmations for the next move. | ||||
Euro vs. Great British Pound (EUR / GBP)
Midday Report
The pair is attempting to breach the support of the range bound at 0.8660 supported by the 50 EMA. Accordingly, we expect a downside move for the rest of the day targeting mainly the support of the main descending channel at 0.8600, where we should monitor trading carefully at that point as breaching the channel will open the door toward more bearishness and 0.8530 level.
The expected trading range for the day is among the key support at 0.8590 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 | 0.8595 | 0.8500 | 0.8455 | 0.8400 | 0.8300 |
| Resistance | 0.8660 | 0.8710 | 0.8730 | 0.8790 | 0.8845 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 0.8660 targeting 0.8600 and stop loss with hourly closing above 0.8690 may be appropriate | ||||
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