Midday Report
The pair settled below the previously breached support at 121.00 while the MA 50 continued to add negative intraday pressures. Therefore, our morning suggested scenario remains valid for today as far as stability is seen below 121.00.
The trading range for today is expected among the key support at 117.95 and the key resistance at 122.25.
The short term trend is to the downside as far as 150.00 remains intact with targets at 112.00.
| Support | 120.00 | 119.30 | 119.00 | 117.95 | 117.40 |
| Resistance | 120.70 | 121.00 | 121.50 | 122.25 | 122.60 |
| Recommendation | Based on the charts and explanations above our opinion is selling the pair around 121.00 targeting 119.30 and stop loss above 122.25 might be appropriate | ||||
Euro vs. Japanese Yen (EUR / JPY)
Midday Report
The pair is attempting for some positivity to consolidate at the awaited 101.80 while Stochastic is gradually losing the upside momentum which supports or intraday bearish expectations for today. We remind of the importance for stability below 101.80 for the downside expectations to prevail.
The trading range for today is expected among the key support at 99.40 and the key resistance at 102.45.
The short term trend is to the downside as far as 123.30 remains intact with targets at 94.80.
| Support | 101.00 | 100.00 | 99.40 | 98.50 | 98.00 |
| Resistance | 101.80 | 102.45 | 103.00 | 103.80 | 104.25 |
| Recommendation | Based on the charts and explanations above our opinion is selling the pair around 101.80 targeting 100.00 and stop loss with four-hour closing above 102.45 might be appropriate | ||||
Euro vs. Great British Pound (EUR / GBP)
Midday Report
The pair is trading within a tight range since morning with a slight bearish bias in an attempt to breach 0.8400 and stabilize below it. Stochastic is still offering positive signals that support the upside move to stabilize around 0.8480 areas before resuming the intraday downside move likely for today.
The trading range for today is expected among the key support at 0.8325 and the key resistance at 0.8480.
The short term trend is to the upside as far as 0.8480 remains intact with targets at 1.0370.
| Support | 0.8385 | 0.8355 | 0.8325 | 0.8280 | 0.8250 |
| Resistance | 0.8415 | 0.8480 | 0.8525 | 0.8605 | 0.8635 |
| Recommendation | Based on the charts and explanations above our opinion is selling the pair around 0.8480 targeting 0.8355 and stop loss with four-hour closing above 0.8525 might be appropriate | ||||
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