EURUSDThe pair halted its upside rush at 61.8% Fibonacci correction and seems to have indulged in a minor bearish correction, affected by the negativity on momentum indicators over daily basis. We can expect a retest for the previously breached 50% Fibonacci at 1.2780 before resuming the expected bullishness for this week, where upcoming targets are around 1.3260. The breach of 1.2780 – 1.2740 and building a base below it will weaken chances of achieving the awaited bullish targets. 
The trading range for today is among the key support at 1.2600 and the key resistance at 1.3360..The short term trend is to the downside as far as 1.3770 remains intact with targets at 1.1700.
GBPUSD
The pair neared the support for the short term ascending channel at 1.5245, while Stochastic is showing positive signs that make us expect a bullish trend for this week targeting initially 1.5500–1.5590. Keep in mind that the daily closing above 1.5125 is vital for our expectations to prevail.
The trading range for today is among the key support at 1.5005 and the key resistance at 1.5700..The short term trend is to the downside as far as 1.5590 remains intact with targets at 1.3800.
USDJPY
The pair continues its negative pressure especially after successfully retesting the support for the previously breached bullish channel shown above. Momentum indicators are providing bullish signs that might push the pair into an upside correction before resuming the expected bearishness over the week. The expected correction level to be reached is at 87.30, where the awaited technical targets are initially at 84.75. Keep in mind that the breach of 88.00 could push the pair to reach the previously breached support for the ascending channel that has presently turned into resistance at 89.50.
The trading range for today is among the key support at 84.75 and the key resistance at 89.50..The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.
USDCHF
The pair has exited the bearish channel shown in our previous reports, although we see that this breach is temporary to attempt a minor bullish correction, where the 50 MA was able to halt the move as seen on the chart above. Stochastic provided a negative crossover that makes us expect the pair to return within the bearish track once again; therefore, we can expect a bearish direction this week targeting first the confirmation of the breach for 1.0350 and then head towards 1.0250. A daily closing below 1.0550 is vital for our expectations to prevail. 
The trading range for today is among the key support at 1.0220 and the key resistance at 1.0675..The short term trend is to the upside as far as 1.0200 remains intact with targets at 1.2295.
USDCAD
The pair rushed to the upside yet this ascend halted at 76.4% Fibonacci correction from the second top, mentioned in our reports last week. This stop was accompanied by momentum indicators entering overbought areas, which maintains chances of achieving the previously suggested bearish trend scenario intact. This week we expect an overall bearish direction targeting 1.0275 then 1.0135, but keep in mind that these expectations require daily closing to remain below 1.0675 to prevail.
The trading range for today is among the key support at 1.0135 and the key resistance at 1.0745..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