EURUSDThe critical support area of 1.2545 held against the pair supported by the 50 MA and positive momentum on Stochastic. Therefore, we see the likelihood for an intraday upside move targeting the channel’s resistance at 1.2750; nonetheless, we should observe areas of 1.2575 closely as breaching this support activates a bearish patter which will take the pair towards 1.2470 and then 1.2340. 
The trading range for today is among the major support at 1.2470 and the major resistance at 1.2750..The short term trend is to the downside as far as 1.3770 is intact with targets at 1.1700.
GBPUSDThe resistance level at 1.5080 –previously breached support- stood against the pair’s upside attempts yesterday and trading stabilized around 1.5025. The strong resistance and negativity on Stochastic support our expectations for an intraday downside move targeting areas starting from 1.4945 then farther at 1.4870. Note that breaching 1.5080 and stabilizing above it revitalizes the general upside move expected for this week.
The trading range for today is among the major support at 1.4870 and the major resistance at 1.5145..The short term trend is to the downside as far as 1.5590 is intact with targets at 1.3800.
USDJPYThe pair did not surpass 89.00 providing a minor bearish patter with the neckline at 88.40 shown above. This pattern can activate the expectations for a downside move for today with the clear breach for the neckline opening the way towards 87.00. Stochastic might cause fluctuations and volatility restricting the breaching and the bearishness.
The trading range for today is among the major support at 87.00 and the major resistance at 89.55.The short term trend is to the downside as far as 101.65 is intact with targets at 82.60.
USDCHF
The pair ended yesterday’s trading below the 50 MA –currently at 1.0640- and accordingly yesterday’s bearish expectations remain valid. Trading is sideways among 1.0675 and 1.0560, while Stochastic signals south and therefore we expect a downside intraday move activated with the breach of 1.0560 targeting areas starting from 1.0415. Breaching areas of 1.0675 fails our bearish expectations.
The trading range for today is among the major support at 1.0415 and the major resistance at 1.0750.The short term trend is to the upside as far as 1.0200 is intact with targets at 1.2295.
USDCAD
The pair is gradually approaching the critical resistance at 1.0405 and we can see signs of the bearish channel constructing the current short term bearishness. Stochastic provided negative signals and therefore we preserve yesterday’s expectations as we see that the bearishness will prevail over intraday basis today targeting areas from 1.0260. Steady daily closing below 1.0405 is critical to preserve our expectations.
The trading range for today is among the major support at 1.0220 and the major resistance at 1.0445..The short term trend is to the upside as far as 0.9925 is intact with targets at 1.1485.
By: Yasir Mubarak
Senior Technical Analyst
[email protected]
www.ecpulse.com