Morning Report
The pair maintains stability below the 50 EMA, in addition to settling below the pivotal support among 118.85-118.75, accordingly, it may continue trading among the descending channel shown on the image. Positivity on Stochastic may lead to some fluctuations for a possible retest of the aforementioned level before heading to resume the intraday downside move today targeting 116.25. Settling above 119.40 may delay the awaited decline.
The expected trading range for the day is among the key support at 116.25and the key resistance at 119.40.
The short term trend is to the downside so far as 150.00 remains intact targeting 112.00.
| Support | 118.00 | 117.35 | 116.90 | 116.25 | 115.40 |
| Resistance | 118.85 | 119.40 | 120.40 | 120.80 | 121.30 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 118.85 targeting 116.25 and stop loss with four-hour closing above 119.40 may be appropriate. | ||||
Euro vs. Japanese Yen (EUR / JPY)
Morning Report
The pair found solid ground at the support of the short term descending channel -shown on the image- also supported by positivity on momentum indicators over the four-hour time frame, these factors may push the pair to acquire some upside correction before resuming the downside move for today. Downside targets start at 99.40, and require stability below 102.30
The expected trading range for the week is among the key support at 99.40 and the key resistance at 102.30.
The short term trend is to the upside so far as 123.30 remains intact targeting 94.80.
| Support | 100.90 | 100.00 | 99.40 | 98.50 | 98.00 |
| Resistance | 101.70 | 102.30 | 102.80 | 103.30 | 103.90 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 102.30 targeting 100.90 and stop loss above 103.30 may be appropriate. | ||||
Euro vs. Great British Pound (EUR / GBP)
Morning Report
The pair breached the support of the short term uptrend, printing a low yesterday at 0.8531. The level forms good support that is preventing further weakness and momentum indicators are supporting the level as well. Accordingly, these factors may push the pair to retest the breached support which turns now into resistance at 0.8610 before resuming the expected intraday downside move for today targeting 0.8445, taking into consideration that breaching 0.8610 may delay the suggested decline.
The expected trading range for the week is among the key support at 0.8445 and the key resistance at 0.8610.
The short term trend is to the upside so far as 0.8165 remains intact targeting 1.0370.
| Support | 0.8530 | 0.8500 | 0.8445 | 0.8400 | 0.8300 |
| Resistance | 0.8590 | 0.8610 | 0.8660 | 0.8690 | 0.8730 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 0.8610 targeting 0.8445 and stop loss with hourly closing above 0.8690 may be appropriate | ||||
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