Midday Report
The pair is trading negatively since morning to decline below 118.00. Stochastic is still within oversold areas, thereby we might see fluctuations before acquiring the expected bearish scenario for today. Stability below 119.40 is required 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 | 117.35 | 116.90 | 116.25 | 115.40 | 115.00 |
| Resistance | 118.00 | 118.85 | 119.40 | 120.40 | 120.80 |
| 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 continues to fluctuate around the support of the descending channel -shown on image-while momentum indicators continue to provide positive signs. Accordingly, our morning expectations remain valid for the rest of the day so long as 102.30 remain intact.
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 | 100.90 | 100.00 | 99.40 | 98.50 | 98.00 |
| Resistance | 101.70 | 102.30 | 102.80 | 103.30 | 103.90 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 102.30 targeting 100.90 and stop loss above 103.30 may be appropriate. | ||||
Euro vs. Great British Pound (EUR / GBP)
Midday Report
The pair rebounded to the upside approaching the awaited retest level at 0.8610, while trading remain within the context of a descending channel after the pair successfully breached the short term ascending channel yesterday. Accordingly, our morning scenario remains valid so long as 0.8610 remains intact.
The expected trading range for the day is among the key support at 0.8445 and the key resistance at 0.8610.
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 | 0.8590 | 0.8610 | 0.8660 | 0.8690 | 0.8730 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 0.8610 targeting 0.8445 and stop loss with hourly closing above 0.8690 may be appropriate | ||||
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