EURUSDThe pair pushed to correct the bearish wave mildly, according to the suggested scenario in yesterday’s reports and returned to negatively pressure it to resume trading within the current bearish trend. We notice that momentum indicators have started to gradually lose bullish momentum indicators; therefore encouraging us to expect a bearish direction today; starting initial targets at 1.2470, where it requires the daily closing below 1.2730 to prevail.
The trading range for today is among the key support at 1.2470 and the key resistance at 1.2770.The short term trend is to the downside as far as 1.3770 remains intact with targets at 1.1700.
GBPUSDThe pair achieved yesterday’s suggested scenario flawlessly touching 1.5475, where it reversed to the downside closely nearing the first awaited target at 1.5360. Momentum indicators are showing negative signs that make us expect trading to stabilize below support for the previously breached bearish channel. Therefore, we see that the expected direction is a bearish over an intraday basis; targeting 1.5235 chiefly and requiring the daily closing below 1.5530 to prevail.
The trading range for today is among the key support at 1.5235 and the key resistance at 1.5530.The short term trend is to the downside as far as 1.6070 remains intact with targets at 1.3800.
The pair achieved a bearish trend reaching 84.00 but is finding strong resistance that will continue pushing the pair to the upside shown in the image below. The stochastic neared overbought areas and therefore we might witness some fluctuation and lead towards to the upside to retest the breached 84.85 yesterday, before heading towards resuming the expected bearish intraday direction. The awaited technical targets start at 82.55, but keep in mind that achieving it requires the daily closing below 85.50.
The trading range for today is among the key support at 82.55 and the key resistance at 85.50.The short term trend is to the downside as far as 91.55 remains intact with targets at 82.60.
USDCHFThe pair sharply descended after nearing pivotal resistance 1.0460 touching support for the bearish channel at 1.0290, accompanied by clear oversold signs and therefore making us expect trading to remain within the current range. Thus, we expect a bullish intraday trend that initially target 1.0460, but always points towards a daily closing above support for this bearish channel, which is one of the vital factors to maintain the expected bullish trend’s continuation.
The trading range for today is among the key support at 1.0200 and the key resistance at 1.0460.The short term trend is to the upside as far as 1.0200 remains intact with targets at 1.1730.
The pair is trading around support for the bullish channel that organizes current trades, where this support is presently ascending towards 1.0590 protected by SMA 50; adding its strength to the bullish direction that the stochastic is showing. These factors make us expect a bullish direction over an intraday basis, where targets start at 1.0675 then 1.0745. As long as the four hour closing is above 1.0550 is vital to achieve these expectations.
The trading range for today is among the key support at 1.0495 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.