Midday Report
The pair is trapped within sideways range stabilizing below the main resistance of 120.20. Therefore, our morning scenario remains unchanged for the rest of the day as far as the aforementioned level holds.
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 | 120.20 | 121.15 | 121.75 | 122.25 | 122.60 |
| 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 continued trading within our caught falling wedge pattern between 99.20 and 100.75. Thereby, we are waiting for a breakout above or below those levels to pinpoint the upcoming move. We recommend reviewing the morning report for more details about the technical targets in both cases.
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 | 99.20 | 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 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 royal pair is still moving narrowly inside the sideways areas shaded in yellow as seen on the graph. Thereby, our morning scenario remains intact for the rest of the day and we recommend reviewing it for more details about the important levels.
The trading range for the day is expected among the key support at 0.8200 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 | 0.8270 | 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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