Midday Report
The pair is trading within a narrow range since morning settling below the main descending resistance show on image, while we are still waiting a clear breach of 119.30 to activate the bearish intraday scenario. The 50 EMA supports our expectations.
The trading range for the day is expected among the key support at 116.95 and the key resistance at 121.15.
The short term trend is to the downside as far as 150.00 remains intact with targets at 112.00.
| Support | 119.30 | 119.00 | 117.95 | 117.40 | 116.95 |
| Resistance | 120.00 | 120.60 | 121.05 | 121.75 | 122.25 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair with four-hour closing below 119.30 targeting 117.95 and 116.95 , stop loss with four-hour closing above 120.50 may be appropriate. | ||||
Euro vs. Japanese Yen (EUR / JPY)
Midday Report
The pair continues to trade among 100.00 - 100.75 range bound, while stochastic maintains the negative bias that supports the awaited bearishness for today. Accordingly, our morning expectations remain valid so long as 100.75 areas remain intact.
The trading range for the day is expected among the key support at 98.50 and the key resistance at 101.80.
The short term trend is to the downside as far as 150.00 remains intact with targets at 112.00.
| Support | 100.00 | 99.40 | 98.50 | 97.80 | 97.40 |
| Resistance | 100.75 | 101.00 | 101.80 | 102.65 | 103.35 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair with around 100.75 targeting 99.40 and 98.50,stop loss with four-hour closing above 101.80 may be appropriate | ||||
Euro vs. Great British Pound (EUR / GBP)
Midday Report
The pair is trading negatively since morning to currently trade below 0.8390 affected by negativity on Stochastic over intraday basis, thus, our morning bullish scenario is activated, and counting on yesterday’s closing above 0.8390. Daily closing below the level may invalidate the bullish expectations.
The trading range for the day is expected among the key support at 0.8295 and the key resistance at 0.8480.
The short term trend is to the upside as far as 0.8165 remains intact with targets at 1.0370.
| Support | 0.8295 | 0.8250 | 0.8200 | 0.8170 | 0.8100 |
| Resistance | 0.8390 | 0.8440 | 0.8480 | 0.8550 | 0.8605 |
| Recommendation | Our morning expectations remain valid | ||||
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