Midday Report
The pair is trading negatively since morning where trading goes back below the resistance of the descending channel we mentioned this morning, while the 50 EMA continues to form a good support barrier that may push the pair to acquire the suggested scenario in our morning report. A daily closing below 121.45 will invalidate the suggested scenario and resume the downside trend.
The trading range for the day may be among the 120.35 support and 124.00 resistance.
The short term trend is to the downside targeting 122.00 so long as 150.00 remain intact.
| Support | 121.00 | 120.35 | 119.75 | 119.10 | 118.75 |
| Resistance | 121.45 | 122.00 | 122.60 | 123.35 | 124.00 |
| Recommendation | Based on the charts and explanations above we recommend buying the pair with a breach above 122.60 targeting 125.30 and stop loss below 121.45 may be appropriate. | ||||
Euro vs. Japanese Yen (EUR / JPY)
Midday Report
The pair found good resistance at the top of the range shaded in yellow, however, trading is still close to the level. In general, we hold onto our morning expectations so long as 105.85 remains intact.
The trading range for the day may be among the 104.95 support and 108.85 resistance.
The short term trend is to the downside targeting 94.80 so long as 123.30 remain intact.
| Support | 105.85 | 104.95 | 104.25 | 104.00 | 103.15 |
| Resistance | 106.50 | 106.95 | 107.60 | 107.90 | 108.85 |
| Recommendation | Based on the charts and explanations above we recommend buying the pair with a breach above 106.50 targeting 107.90 and stop loss below 105.85 may be appropriate. | ||||
Euro vs. Great British Pound (EUR / GBP)
Midday Report
The pair is pushing to the upside supported by positivity on Stochastic; therefore, our morning scenario is activated and remains valid for the rest of the day, and breaching the 50 EMA supports our expectations.
The trading range for the day may be among the 0.8635 support and 0.8885 resistance.
The short term trend is to the upside targeting 1.0370 so long as 0.8165 remain intact
| Support | 0.8720 | 0.8685 | 0.8635 | 0.8590 | 0.8530 |
| Resistance | 0.8805 | 0.8845 | 0.8910 | 0.9000 | 0.9035 |
| Recommendation | Our morning expectations remain valid. | ||||
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