Midday Report
The pair is slightly biased to the upside since morning, while Stochastic continues to be clearly overbought pushing the pair slightly to the downside. In general, our weekly scenario remains valid so long as 118.10 remains intact.
The expected trading range for the week is among the key support at 116.95 and the key resistance at 122.40.
The short term trend is to the downside so far as 150.00 remains intact targeting 112.00.
| Support | 119.10 | 118.10 | 117.65 | 116.95 | 116.25 |
| Resistance | 120.40 | 120.80 | 121.30 | 122.10 | 122.40 |
| Recommendation | Based on the charts and explanations above we recommend buying the pair around 119.10 targeting 122.40 and stop loss below 118.10 may be appropriate. | ||||
Euro vs. Japanese Yen (EUR / JPY)
Midday Report
The pair successfully breached the pivotal resistance at 103.85 accompanied with four-hour closing, thus activating our suggested weekly scenario. Breaching 103.65 may delay achieving the awaited targets.
The expected trading range for the week is among the key support at 101.00 and the key resistance at 107.00.
The short term trend is to the upside so far as 123.30 remains intact targeting 94.80.
| Support | 103.85 | 103.30 | 102.65 | 102.10 | 101.70 |
| Resistance | 104.40 | 105.10 | 105.75 | 106.40 | 106.80 |
| Recommendation | Our weekly scenario remains valid | ||||
Euro vs. Great British Pound (EUR / GBP)
Midday Report
The pair rallied to the upside to surpass the breached support which turned previously into resistance. The 50 EMA forms an upside barrier now around 0.8720, anyhow, our weekly scenario remains valid, however a daily closing above 0.8620 will push us to reconsider the bearish scenario.
The expected trading range for the week is among the key support at 0.8415 and the key resistance at 0.8750.
The short term trend is to the upside so far as 0.8165 remains intact targeting 1.0370.
| Support | 0.8670 | 0.8620 | 0.8590 | 0.8530 | 0.8500 |
| Resistance | 0.8720 | 0.8750 | 0.8845 | 0.8885 | 0.8925 |
| Recommendation | Our weekly scenario remains valid | ||||
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