EURUSDThe pair stabilized above 1.3045 and thereby insuring yesterday’s suggested bullish trend’s continuation. Some negativity is appearing through momentum indicators which could cause some fluctuation and retest of the mentioned level before continuing the expected bullish trend today, where upcoming targets are at 1.3200 then 1.3330. It is vital that the four hour closing is above 1.3045 to insure these expectations. 
The trading range for today is among the key support at 1.2955 and the key resistance at 1.3330.The short term trend is to the downside as far as 1.3770 remains intact with targets at 1.1700.
GBPUSDThe pair closely neared around 1.5700 in line within the bullish channel that controls the bullish wave that started from 1.5345. More bullish intraday movement is expected due to the affect of the previously breached bullish technical pattern at 1.5555, where its targets are bullish and have not been achieved. Note that the possibility of witnessing some fluctuation due to the negative effect on momentum indicators. We point out that for the suggested direction to prevail we require stability above 1.5555.
The trading range for today is among the key support at 1.5555 and the key resistance at 1.5800.The short term trend is to the downside as far as 1.6070 remains intact with targets at 1.3800.
USDJPYThe pair continued ascend insuring the breach of the bearish channel shown in the chart below, where the pair will attempt some minor bearish correction that may build a base on 85.20, followed by resuming the awaited bullish trend in overall today.SMA 50 has met with the breached resistance that has currently turned into support at 84.55, thus supporting the breaching process. Meanwhile, expected targets will start at 86.75 then 87.35 and require the daily closing above 84.55 to continue.
The trading range for today is among the key support at 84.55 and the key resistance at 87.35.The short term trend is to the downside as far as 91.55 remains intact with targets at 79.60.
USDCHFThe pair strongly pushed to the upside yesterday as trading continued in a natural manner within the bearish channel shown below, while the pair neared this channel’s resistance at 1.0205 accompanied by momentum indicators appearing within overbought areas. We expect a bearish intraday direction that initially targets 1.0000 then 0.9930, but keep in mind that this scenario will prevail if we not witness a breach and base built above 1.0205.
The trading range for today is among the key support at 0.9930 and the key resistance at 1.0275.The short term trend is to the upside as far as 0.9905 remains intact with targets at 1.1120.
USDCADThe pair attempted to breach pivotal support mentioned yesterday at 1.0245, although stochastic is showing a negative crossover sign that maintains the previously suggested scenario. We expect a bearish movement over an intraday basis that targets 1.0105 initially that requires the daily closing to remain below 1.0345.
The trading range for today is among the key support at 1.0105 and the key resistance at 1.0345.The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.
By: Yasir Mubarak
Senior Technical Analyst
[email protected]
www.ecpulse.com