Morning Report
The pair maintains stability below the retest level shown on the image, where the 50 EMA also supports the level. In addition to Stochastic attempts toward overbought area. Accordingly, we maintain our expectations for an intraday downside move for today, taking into consideration that 119.40 should remain intact for our expectations to remain valid.
The expected trading range for the day is among the key support at 116.25 and 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 hourly closing above 119.40 may be appropriate. | ||||
Euro vs. Japanese Yen (EUR / JPY)
Morning Report
The pair continues to fluctuate around the 38.2% Fibonacci correction for the latest bearish wave that started from 104.90 top towards the latest bottom at 100.73, while Stochastic is overbought over four-hour basis. Therefore, we expect a downside move for today counting on the 50% Fibonacci level which halted the upside attempts twice. Expected targets start at 100.75 and the move requires that 102.80 remain intact.
The expected trading range for the day is among the key support at 99.40 and the key resistance at 102.80.
The short term trend is to the upside so far as 123.30 remains intact targeting 94.80.
| Support | 101.70 | 100.90 | 100.00 | 99.40 | 98.50 |
| Resistance | 102.30 | 102.80 | 103.30 | 103.90 | 104.40 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 102.30 targeting 100.75 and stop loss above 103.30 may be appropriate. | ||||
Euro vs. Great British Pound (EUR / GBP)
Morning Report
The pair surpassed the previously breached ascending support discussed in our previous reports, and the daily closing above the support is a sign that more bullishness may be on the horizon targeting the resistance of the descending channel shown on the image. However, this incline may face the previously breached technical pattern support at 0.8670. Therefore, we will remain neutral and monitor trading around the 0.8670 and 0.8615 sensitive levels for more confirmations.
The expected trading range for the day is among the key support at 0.8445 and the key resistance at 0.8725.
The short term trend is to the upside so far as 0.8165 remains intact targeting 1.0370.
| Support | 0.8615 | 0.8530 | 0.8500 | 0.8445 | 0.8400 |
| Resistance | 0.8670 | 0.8725 | 0.8765 | 0.8845 | 0.8885 |
| Recommendation | Based on the charts and explanations above we recommend staying aside awaiting and observe trading around the mentioned sensitive levels for more confirmations | ||||
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