Morning Report
Trading settled below 120.80 with daily closing, and this supports our expectations for an intraday downside move for today. The pair is fluctuating around the 50 EMA, while Stochastic is loosing upside momentum. The awaited targets start at 119.10, taking into consideration that a breach of 120.80 may delay acquiring the target while a breach above 122.20 may turn the outlook into intraday bullish.
The trading range for the day may be among the 118.75 support and 122.20 resistance.
The short term trend is to the downside targeting 122.00 so long as 150.00 remain intact.
| Support | 120.35 | 120.00 | 119.75 | 119.10 | 118.75 |
| Resistance | 120.80 | 121.30 | 121.80 | 122.20 | 122.60 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 120.80 targeting 119.10 and stop loss above 121.50 may be appropriate. | ||||
Euro vs. Japanese Yen (EUR / JPY)
Morning Report
The pair rebounded to end the day above the retest level we mentioned previously at 104.95. Stochastic is heading towards overbought area, which is another negative sign in addition to stability below the resistance of the descending channel shown on the image. Therefore, an intraday downside move is anticipated for today however it requires two conditions; a breach of 104.95 and stability below 106.40.
The trading range for the day may be among the 104.00 support and 107.60 resistance.
The short term trend is to the downside targeting 94.80 so long as 123.30 remain intact.
| Support | 105.50 | 104.95 | 104.00 | 103.15 | 102.65 |
| Resistance | 106.40 | 107.00 | 107.60 | 107.90 | 108.85 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair with hourly closing below 104.95 targeting 104.00 and stop loss with hourly closing above 105.35 may be appropriate. | ||||
Euro vs. Great British Pound (EUR / GBP)
Morning Report
The pair was not able to touch the support of the main ascending channel and rebounded to end the day above the resistance of the descending correctional channel shown on the image; therefore, there is a possibility that the pair resumes the main uptrend targeting initially 0.8910. Our expectations will remain possible so long as daily closing remain above 0.8720.
The trading range for the day may be among the 0.8625 support and 0.8910 resistance.
The short term trend is to the upside targeting 1.0370 so long as 0.8165 remain intact.
| Support | 0.8720 | 0.8685 | 0.8625 | 0.8590 | 0.8530 |
| Resistance | 0.8805 | 0.8845 | 0.8910 | 0.9000 | 0.9035 |
| Recommendation | Based on the charts and explanations above we recommend buying the pair around 0.8725 targeting 0.8910 and stop loss with four-hour closing below 0.8685 may be appropriate. | ||||
To ensure you receive such e-mails in the future, please add ecPulse.com to your list of approved senders.
No comments:
Post a Comment