Failing to build a solid base above the 1.49 level has resulted in the pair entering a critical situation where the 1.4670 is the pivot point on the medium term where a daily close below it will open the way to as low as 1.4445 whereas remaining above it will give the pair the chance to retest the 1.49 level and possibly the 1.50. Today we see that the pair rebounded from the 76.4% correctional level at 1.4700 where we expect it to incline in an attempt to build a solid base above 1.4740 and 1.4750. However, trading for today could be limited where buying and selling orders are somewhat equal where it will be directly reflected on the pair. The trading range for today might extend among the support level at 1.4675 and the resistance level at 1.5015 The general trend remains to the downside as far as 1.5830 remains intact with targets at 1.4870 and 1.4340
Support
1.4710
1.4700
1.4670
1.4610
1.4520
Resistance
1.4750
1.4760
1.4815
1.4870
1.4955
Recommendation
...
gbp
Breaching the 61.8% fibonacci correction for the long term wave at 1.8500 resulted in vigorous downside movements as the pair neglected being heavily oversold. From here we see the direction on the short term is now to the downside yet on an intraday basis, the pair will witness volatility as it continues to be oversold. The 1.8430 level is a critical level on the weekly charts, and this week it will be the pivot point. However we're back to say that trading below the 1.8500 - 1.8530 level will continue the bearish channel on the short term. The trading range for today might extend among the support level at 1.8325 and the resistance level at 1.8605 The general trend remains to the downside as far as 1.9485 remains intact with targets at 1.8070
Support
1.8430
1.8415
1.8340
1.8325
1.8215
Resistance
1.8485
1.8500
1.8530
1.8605
1.8650
Recommendation
...
jpy
Up to this point of time, the upside movements seen by the pair couldn't build a solid base above the resistance level at 110.25 nor the key resistance at 110.50. From here we see trading for today to be sideways with slight tendency towards the downside to gather more bullish momentum to retest the earlier mentioned resistance where the 109.80 and 109.10 levels could help provide the pair with enough momentum. The trading range for today might extend among the support level at 108.40 and the resistance level at 111.95 The general trend remains to the upside as far as 103.00 remains intact with targets at 111.00 and 113.24
Support
109.80
109.40
109.10
108.95
108.40
Resistance
110.25
110.40
110.70
111.25
111.95
Recommendation
...
chf
After failing to trade below the 50 day moving average on the four hour chart, the pair entered a bullish wave to take it near the 1.1030 resistance level which is starting to weaken. Yet despite that, this level is still affecting the pair on the short term. We expect another attempt to breach it yet if failed prices will fall to the mentioned moving average located at 1.0930. Momentum indicators are not supporting the breach of this resistance yet the low volume of trading remains weak where we believe to see the pair fluctuated below this resistance. The trading range for today might extend among the support level at 1.0810 and the resistance level at 1.1140 The general trend remains to the upside as far as 1.0570 remains intact with targets at 1.1025 and 1.1455
Support
1.0945
1.0930
1.0900
1.0890
1.0810
Resistance
1.1010
1.1030
1.1040
1.1085
1.1140
Recommendation
Sell the pair below 1.1030 with targets at 1.0945 and stop loss above 1.1085
cad
After rebounding from levels near the 61.8% fibonacci fan at 1.0405 the pair was able to initiate an upside wave as seen on the intraday charts. The pair might possibly extend these movements since the rebound from the mentioned level allowed trading to remain above the 38.2% fibonacci retracement where we expect it to reach the 23.6% level at 1.0550 at the very least as far as 1.0405 remains intact. The trading range for today might extend among the support level at 1.0315 and the resistance level at 1.0695 The general trend remains to the upside as far as 1.0350 remains intact with targets at 1.0825 and 1.1000
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