Midday Report
The pair is gradually pushing to the upside to approach near the awaited retest level at 118.85, while Stochastic continues to be negative. Therefore, our morning expectations remain valid for the rest of the day.
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)
Midday Report
The pair touched the awaited level we mentioned this morning at 102.30 and gradually reversed to the downside . Therefore, our morning scenario is activated and remains valid for the rest of the day.
The expected trading range for the day 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 | 101.70 | 100.90 | 100.00 | 99.40 | 98.50 |
| Resistance | 102.30 | 102.80 | 103.30 | 103.90 | 104.40 |
| Recommendation | Our morning expectations remain valid. | ||||
Euro vs. Great British Pound (EUR / GBP)
Midday Report
The pair continues to fluctuate around the previously breached support attempting to settle below the level. Accordingly, we hold onto our expectations for a downside move for today so long as 0.8615 remains intact.
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 | 0.8530 | 0.8500 | 0.8445 | 0.8400 | 0.8300 |
| Resistance | 0.8615 | 0.8660 | 0.8690 | 0.8725 | 0.8790 |
| Recommendation | Our morning expectations remain valid. | ||||
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