EURUSD
The pair is approaching the awaited support around 1.2540, accompanied by Stochastic riding of negative momentum appearing on it. Therefore, morning expectations will remain intact as long as trading remains above 1.2470.
GBPUSD
The pair built the awaited base on 1.5080 as trading rebounded to the upside according to the suggested morning scenario. Stochastic is moving in oversold areas, thus supporting expectations of a bullish intraday directiontowards the mentioned targets in our morning reports; where it is vital that 1.5080 remain intact to insure chances of achieving expectations.
The trading range for today is among the key support at 1.5000 and the key resistance at 1.5300.
USDJPY
The pair is activating the breakout below support for the sideway range at 87.30 achieving some bearish movement and currently return to retest this breach. From here, the suggested morning scenario will be activated as we await the expected bearish intraday direction; targeting 86.60 – 85.35 that requires stability below 88.00 – 88.40.
The trading range for today is among the key support at 85.80 and the key resistance at 88.40.
USDCHF
USDCAD
The pair moved to the upside to retest support yesterday’s breached bullish channel that has turned into resistance, as it currently ascends towards 1.0600. This movement is accompanied by the stochastic entering overbought areas; therefore we hold onto our morning expectations as we await to activate the suggested bearish trend that maintains relies on the daily closing to be below pivotal resistance currently at 1.0600.
The trading range for today is among the key support at 1.0405 and the key resistance at 1.0670.
By: Yasir Mubarak
Senior Technical Analyst
[email protected]
www.ecpulse.com