Midday Report
The pair has started an upside correctional attempt towards the breached support levels and the main breached ascending trend line. In general we hold onto our morning expectations for resuming the bearish wave towards 1.3000 areas. While 1.3240 should remain intact for these expectations to remain valid.
The trading range for the day is expected among key support at 1.2975 and key resistance at 1.3300.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
| Support | 1.3110 | 1.3070 | 1.3030 | 1.2975 | 1.2950 |
| Resistance | 1.3160 | 1.3180 | 1.3240 | 1.3280 | 1.3320 |
| Recommendation | Based on the charts and explanations above we recommend, selling the pair below 1.3170 targeting 1.3110 and 1.3030. Stop loss above 1.3245. | ||||
Great British Pound (GBP)
Midday Report
The pair maintains the upside correction, however the overall short term bearishness remains intact so long as price is trading steadily below 1.5800 resistance, a breach above 1.5800 may resume the bullish trend again and weakens the bearish probabilities.
The trading range for the day is expected among key support at 1.5600 and key resistance at 1.5900.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remain intact.
| Support | 1.5720 | 1.5675 | 1.5640 | 1.5600 | 1.5550 |
| Resistance | 1.5770 | 1.5850 | 1.5880 | 1.5920 | 1.5970 |
| Recommendation | Based on the charts and explanations above we recommend, selling the pair below 1.5780 targeting 1.5700 and 1.5645. Stop loss four-hour closing above 1.5805. | ||||
Japanese Yen (JPY)
Midday Report
The pair is maintaining the downside bias, where momentum indicators are clearly negative. Thus, we hold onto our suggested morning scenario.
The trading range for the day is expected among key support at 80.00 and key resistance now at 83.00.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
| Support | 80.50 | 80.25 | 80.00 | 79.75 | 79.50 |
| Resistance | 80.80 | 81.10 | 81.50 | 81.80 | 82.00 |
| Recommendation | Based on the charts and explanations above we recommend, buying the pair above 79.60 targeting 81.50 and 84.00. Stop loss below 79.00. | ||||
Swiss Franc (CHF)
Midday Report
The pair touched 0.9155 to rebound slightly currently trading at 0.9172. We continue to expect a continuation of the bullish move, thus our morning scenario remains to be valid.
The trading range for the day is expected among key support at 0.9000 and key resistance at 0.9300.
The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 remain intact.
| Support | 0.9150 | 0.9125 | 0.9100 | 0.9080 | 0.9050 |
| Resistance | 0.9200 | 0.9240 | 0.9270 | 0.9300 | 0.9330 |
| Recommendation | Our morning expectations remain valid. | ||||
Canadian Dollar (CAD)
Midday Report
The pair fell slightly this morning to test the 200-days average. Currently the pair found support around the average and 1.0000 level. At the current levels; we prefer to hold on for a breach above 1.0050 major resistance before expecting further gains. Thus our morning scenario remains valid.
The trading range for the day is expected among the key support at 0.9900 and the key resistance at 1.0150.
The short term trend is to the upside targeting 1.0650 with steady daily closing above 0.9900.
| Support | 0.9985 | 0.9960 | 0.9950 | 0.9925 | 0.9900 |
| Resistance | 1.0020 | 1.0050 | 1.0080 | 1.0120 | 1.0150 |
| Recommendation | Based on the charts and explanations above we recommend, buying the pair with hourly closing above 1.0055 targeting 1.0145 and 1.0250. Stop loss below 0.9980. | ||||
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