Midday Report
The pair moves with a bullish tendency approaching the resistance of the main descending channel at 120.30 affected by Stochastic. We keep our morning predictions intact depending on stability below the aforementioned levels and below EMA 50.
The trading range for the day is expected among the key support at 116.95 and the key resistance at 120.30.
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 | 120.30 | 121.15 | 121.75 | 122.25 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair with a four-hour closing below 119.30 targeting 117.95 and 116.95 and stop loss with four-hour closing above 120.30 may be appropriate. | ||||
Euro vs. Japanese Yen (EUR / JPY)
Midday Report
The pair has moved bullishly approaching the resistance of the falling wedge while Stochastic is entering overbought areas adding further solidity to the resistance level. In general, we hold onto our neutral stance until the pair proves clearing one of the sensitive areas of 99.30 and 100.75.
The trading range for the day is expected among the key support at 97.40 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 | 99.30 | 98.50 | 97.80 | 97.40 | 97.00 |
| Resistance | 100.00 | 100.75 | 101.00 | 101.80 | 102.65 |
| Recommendation | Based on the charts and explanations above we recommend staying aside until an actionable setup presents itself to pinpoint the upcoming big move. | ||||
Euro vs. Great British Pound (EUR / GBP)
Midday Report
The pair has been trapped within a very tight range since morning within the range trading areas seen on the provided chart. Thereby, we hold onto our predictions waiting for a breakout above or below the sensitive areas that will pinpoint the upcoming move over intraday and short term basis.
The trading range for the day is expected among the key support at 0.8250 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 | 0.8275 | 0.8250 | 0.8200 | 0.8170 | 0.8100 |
| Resistance | 0.8395 | 0.8440 | 0.8480 | 0.8550 | 0.8605 |
| Recommendation | Based on the charts and explanations above we recommend buying the pair with four-hour closing above 0.8395 targeting 0.8550 and 0.8635 ,stop loss with four-hour closing below 0.8395 or selling the pair with a four-hour closing below 0.8275, targeting 0.8170 and 0.8100, stop loss with a four-hour closing above 0.8395 may be appropriate. | ||||
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