Morning Report
The pair continued battling the pivotal support of 119.30, but couldn't breach it with a four-hour closing until now. Stability is seen below the resistance line of the descending channel at 120.05. Thereby, there are chances for moving bearishly over intraday basis with a break below the aforementioned support targeting 117.95 and 116.95; noting that, areas of 120.05 should hold to protect this scenario.
The trading range for the day is expected among the key support at 116.95 and the key resistance at 121.35.
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 | 120.05 | 120.65 | 121.35 | 121.75 | 122.25 |
| Recommendation | Based on the charts and explanations above we recommend buying the pair around 120.60 targeting 119.30 and 117.95 and stop loss with four-hour closing above 120.05 may be appropriate. | ||||
Euro vs. Japanese Yen (EUR / JPY)
The pair has stabilized around 98.60 after achieving the awaited breakout below 99.05 yesterday. We believe that the pair will continue moving downwards over intraday basis within the descending channel seen on the provided daily graph while EMA 50 offers the required protection for sellers. Technical targets reside at 97.40 and 96.50 so long as 123.30 remain intact.
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 | 98.50 | 97.80 | 97.40 | 97.00 | 96.50 |
| Resistance | 99.05 | 99.30 | 100.10 | 100.45 | 101.00 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 99.05 targeting 97.40 and stop loss above 100.10 may be appropriate. | ||||
Euro vs. Great British Pound (EUR / GBP)
The royal pair has closed negatively yesterday below the support of 0.8270-turned into resistance- supporting the downside rally resumption over intraday basis. EMA 50 continues adding further pressure on the pair. Targets are seen at 0.8170 where we should watch out the price behaviors cautiously as a break below this level will bring aggressive downside wave towards the psychological lvel of 0.8000.
The trading range for the day is expected among the key support at 0.8170 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 | 0.8200 | 0.8170 | 0.8100 | 0.8065 | 0.8000 |
| Resistance | 0.8270 | 0.8300 | 0.8350 | 0.8395 | 0.8440 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 0.8270 targeting 0.8170 and 0.8100 ,stop loss with four-hour closing above 0.8350 may be appropriate | ||||
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