EURUSD
The pair respected yesterday’s presented scenario, and currently fluctuates with a slight bias to the upside due to the effect of positive momentum. We expect the pair to retest 1.2820 –support for the breached rising wedge yesterday– before further expected bearish intraday movement. Targets start around 1.2680 then 1.2565, four-hour closing below 1.2865 is required for the expectations to prevail. 
The trading range for today is among the key support at 1.2565 and the key resistance at 1.2925..The short term trend is to the downside as far as 1.3770 remains intact with targets at 1.1700.
GBPUSDThe pair reached the awaited initial target at 1.5220, where it is finding a hard time in achieving a four-hour closing below it due to support from the oversold signs on momentum indicators. We expect the pair to touch the retest level at 1.5220 –the 50 MA– and reverse to the downside. The expected direction is bearish over intraday basis targeting 1.5080 then 1.4960 and requires stability below 1.5355.
The trading range for today is among the key support at 1.4960 and the key resistance at 1.5355..The short term trend is to the downside as far as 1.5590 remains intact with targets at 1.3800.
USDJPY
The pair was able to insure the breach of the support for the minor bullish channel shown yesterday, due to the support from the minor bearish technical pattern alongside the bearish trend that momentum indicators are showing. We could witness some fluctuation, but overall we expect a bearish intraday direction affected by stabilizing below the breached minor bullish channel, in addition to the bearish shown below which still has target to be reached. Targets start at 85.95 then 85.00 which require four-hour closing below 87.05.
The trading range for today is among the key support at 85.00 and the key resistance at 87.70..The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.
USDCHF
The pair continues to find a hard time in surpassing the 50 MA at 1.0545 due to the effect of the negative momentum seen yesterday, although the pair managed to unload this negative pressure Stochastic is entering oversold areas, alongside trading within the minor bullish channel shown below. We see that the expected direction is bullish over intraday basis targeting 1.0675. The pair must stabilize above 1.0450 for the expectations to prevail.
The trading range for today is among the key support at 1.0400 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 the upside yesterday within the bullish correction, where it halted at 61.8% Fibonacci around 1.0490 and is accompanied by momentum indicators entering overbought areas. Keep in mind that trading is wedged within the rising wedge pattern targeting naturally the breach of the support currently at 1.0490. Weexpect a bearish intraday trend that requires first confirming the breach of the mentioned support in addition to building a base below 1.0525.
The trading range for today is among the key support at 1.0275 and the key resistance at 1.0580..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