EURUSDThe pair inclined strongly, breaching 1.3500 to activate yesterday’s scenario and now the overbought signs are appearing on momentum indicators. We expect a retest of the breached level before resuming the expected bullish intraday trend. The technical targets start at 1.3700 as long as stability is achieved above 1.3500. 
The trading range for today is among the key support at 1.3420 and the key resistance at 1.3775.The short term trend is to the downside as far as 1.3770 remains intact with targets at 1.1700.
GBPUSD
Cable retested 1.5725 and strongly rebounded to resume the bullish trend that has organized within the ascending channel shown in the four hour chart. Stochastic is showing positive signs that support these expectations, where the awaited targets start at 1.5935 then 1.6000. Keep in mind that the pair must remain below 1.5800 could postpone achieving targets.
The trading range for today is among the key support at 1.5725 and the key resistance at 1.6000.The short term trend is to the downside as far as 1.6070 remains intact with targets at 1.3800.
USDJPY
The pair exited the sideway range mentioned in our previous reports and fluctuate around the retest level, as its resistance for the previously breached bearish channel will currently turn into support at 83.80. Momentum indicators are moving within oversold areas, thus making us expect an overall bullish direction targeting 85.20 initially. Keep in mind that the daily closing below 83.80 will cause the suggested upside scenario to fail.
The trading range for today is among the key support at 83.00 and the key resistance at 85.20.The short term trend is to the downside as far as 91.55 remains intact with targets at 79.60.
USDCHF
The pair strongly descended to touch support for the downside channel due to the negativity of momentum indicators, thus causing us to expect a bullish rebound from trading naturally within this descending channel, shown above. However, this upside trend targets the retest of yesterday’s breached minor support level at 0.9795 before resuming the expected bearish intraday trend. The first target starts by attacking this downside channel’s support level at 0.9725 then pave the way towards 0.9660 – 0.9635. Keep in mind the importance of building a base below 0.9795 to maintain this scenario’s chances of volatility intact.
The trading range for today is among the key support at 0.9635 and the key resistance at 0.9895.The short term trend is to the upside as far as 0.9635 remains intact with targets at 1.1120.
USDCAD
Pivotal resistance 1.0345 was able to maintain its stance against the pair that has been moving to the upside since yesterday as trading remains within the mentioned sideway range in our several previous reports. Note that trading is currently below SMA 50, where we expect a bearish intraday trend that will start its targets by attacking this sideway range’s support level at 1.0245 then 1.0165. It is vital that 1.0345 achieves stability so this bearish direction may continue today.
The trading range for today is among the key support at 1.0105 and the key resistance at 1.0380.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