Midday Report
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The pair is still attempting to the upside and currently trading above 1.3825, where a minor test of 1.3850 occurred this morning, awaiting the NFP major jobs report, we will anticipate a break above 1.3850 -for more confirmation- to expect a bullish move targeting intially 1.3935 areas, on the other hand with a breach below 1.37us80 support we will turn our intraday outlook into bearish targeting initially 1.3700 areas
The trading range for today is among the major support at 1.3380 and the major resistance at 1.4080.
The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.
*The provided chart based on GMT+2*
| Support | 1.3780 | 1.3720 | 1.3660 | 1.3610 | 1.3565 |
| Resistance | 1.3850 | 1.3930 | 1.3975 | 1.4000 | 1.4050 |
| Recommendation | Based on the charts and explanations above, we recommend buying the pair with four-hour closing above 1.3850 targeting 1.3935 and 1.4000, stop loss with hourly closing below 1.3780 Or Sellling the pair with a four-hour closing below 1.3780 targeting 1.3700 and 1.3600, stop loss with hourly closing above 1.3850 | ||||
Great British Pound (GBP)
Midday Report
The pair has been capable of forming a four-hour candlestick that reflects some kind of exhaustion as seen on the above image. It seems that the right shoulder of Bulkowski's complex head and shoulders top pattern is on its way to be formed. Hence, we keep our morning expectations intact for the rest of the day, but not before breaching 1.5960 zones to weaken the neckline of our caught pattern. Only a break of the head will make us reconsider this outlook.
The trading range for today is among key support at 1.5720 and key resistance at 1.6380.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 areas remain intact.
| Support | 1.5960 | 1.5935 | 1.5880 | 1.5820 | 1.5780 |
| Resistance | 1.6025 | 1.6075 | 1.6150 | 1.6225 | 1.6295 |
| Recommendation | Based on the charts and explanations above our opinion is, selling the pair below 1.5960 targeting 1.5630 and stop loss above 1.6180 might be appropriate. | ||||
Japanese Yen (JPY)
Midday Report
The pair is still moving above the pivotal support seen on the provided four-hour graph; whilst AROON started to show off the start of positive indication. Stochastic will cause some kind of fluctuation but the allover trajectory appears bullish. A break of 78.80 is required to confirm our positive overview.
The trading range for today is among key support at 76.10 and key resistance now at 82.25.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
| Support | 77.90 | 77.20 | 76.95 | 76.60 | 76.10 |
| Resistance | 78.80 | 79.55 | 79.90 | 80.05 | 81.15 |
| Recommendation | Based on the charts and explanations above our opinion is, buying the pair around 77.90 targeting 80.05 and stop loss below 76.40 might be appropriate. | ||||
Swiss Franc (CHF)
Midday Report
The pair has moved aggressively upwards breaching through 0.8835 zones as seen on the provided four-hour graph. In the interim, SMA 50 -red- started to carry the movements from below. Thereby, our bullish anticipations were activated as well and a break of 0.8890 will add further strength for the pair. On the other hand, areas of 0.8740 should protect our scenario from failure.
The trading range for today is among key support at 0.8560 and key resistance now at 0.9080.
The general trend over short term basis is to the upside targeting 0.9400 as far as areas of 0.8020 remain intact.
| Support | 0.8805 | 0.8760 | 0.8740 | 0.8695 | 0.8625 |
| Resistance | 0.8890 | 0.8945 | 0.8990 | 0.9030 | 0.9080 |
| Recommendation | Our morning expectations remain valid. | ||||
Canadian Dollar (CAD)
Midday Report
The pair rebounded sharply to the upside affected by the awaited unemployment data from the Canadian economy to currently trade above the ascending channel’s main support as shown above. The pair found resistance level around 1.0185, while Stochastic continues to provide negative signs over daily basis. Therefore, we expect the pair to extend the downside correction; however we remain neutral for the rest of the session, awaiting the pair’s behavior around the critical level at 1.0120.
The trading range for today is among the major support at 99.10 and the major resistance at 1.0360.
The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.
| Support | 1.0120 | 1.0085 | 1.0030 | 1.0000 | 0.9910 |
| Resistance | 1.0185 | 1.0210 | 1.0245 | 1.0275 | 1.0330 |
| Recommendation | Based on the charts and explanations above, we remain neutral awaiting more confirmations | ||||
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