Midday Report
The pair continues to fluctuate around the support of the descending channel as shown on image, while Stochastic is clearly loosing upside momentum, therefore, we hold onto our morning expectations for the rest of the day so long as 118.85 remain intact.
The expected trading range for the day is among the key support at 115.40 and the key resistance at 119.45.
The short term trend is to the downside so far as 150.00 remains intact targeting 112.00.
| Support | 117.35 | 116.90 | 116.00 | 115.40 | 115.00 |
| Resistance | 118.00 | 118.85 | 119.45 | 120.35 | 120.80 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 118.85 targeting 117.35 and stop loss with four-hour closing above 119.45 may be appropriate. | ||||
Euro vs. Japanese Yen (EUR / JPY)
Midday Report
The pair is trading negatively since morning to reside now below the support of the descending channel we mentioned this morning. Stochastic is touching overbought area supporting our expectations for an intraday downside move for today. Areas of 104.05 should remain intact for our expectations to remain valid.
The expected trading range for the day is among the key support at 101.35 and the key resistance at 105.75.
The short term trend is to the upside so far as 123.30 remains intact targeting 94.80.
| Support | 102.35 | 101.35 | 100.90 | 100.00 | 99.40 |
| Resistance | 102.75 | 103.45 | 103.75 | 104.05 | 104.55 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 104.05 targeting 102.35 and stop loss above 105.10 may be appropriate. | ||||
Euro vs. Great British Pound (EUR / GBP)
Midday Report
The pair dropped sharply after the 0.8790 level continued to halt the intraday upside attempts. In general, our morning scenario remains valid for the rest of the day, however the pair need to remain above 0.8690 for the scenario to remain possible.
The expected trading range for the day is among the key support at 0.8660 and the key resistance at 0.9000.
The short term trend is to the upside so far as 0.8165 remains intact targeting 1.0370.
| Support | 0.8690 | 0.8645 | 0.8595 | 0.8500 | 0.8455 |
| Resistance | 0.8730 | 0.8790 | 0.8845 | 0.8885 | 0.8925 |
| Recommendation | Based on the charts and explanations above we recommend buying the pair with hourly closing above 0.8790 targeting 0.8885 and 0.9000,stop loss with hourly closing below 0.8720 may be appropriate. | ||||
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