EUR/USD (1.2150) The upside seen from the 1.2005 low was capped at 1.2175, and pair was rejected there, leaving a double top in place. The pullback seen so far should remain limited to 1.2110 & 1.2070 before further upside is seen targeting 1.2180 again. A break above latter would see further upside targeting 1.2135 & 1.2235. Intraday studies are positive for the pair and daily studies show room for further upside. On the downside, a break below 1.2005 would see further weakness towards 1.1925 first. Stand aside for now.
USD/JPY (114.14) The upside was of short lived and reached 114.80 where resistance was found. Pair bounced lower from there and is currently holding above the 113.80 level. Intraday studies are heading higher from oversold levels and a break above 114.90 would see further upside targeting 115.40 & 116.45. Daily studies are threatening to turn positive for the pair and a break above 114.90 would confirm the positive bias. On the downside, a break below 113.35 would see further weakness targeting 112.05 first. Hold long at 114.25, keep SL tight.
Supports: 113.80-113.35-113.15-112.60-111.80 Resistances: 114.75-114.90-115.55-116.20-116.50-117.00-117.60-118.00 Market direction: Neutral - Bullish Today's projected high/low: 115.50-113.80 Weekly pivot supports: 105.15-104.67 Weekly pivot resistances: 109.55-108.90 Conservative recommendation: Hold long 114.25, SL 113.70, target 115.50 first Aggressive recommendation: Hold long 114.25, SL 113.70, target 115.50 first
GBP/USD (1.7776) Market continued its upside bias from the 1.7575 and reached 1.7800 which capped further upside so far. Pair bounced slightly lower and is currently holding above the 1.7750 level. Intraday studies are deep in overbought territory and some consolidation/correction is expected to follow near-term with 1.7690 & 1.7625. Daily studies remain deep in overbought territory however there is no sign of topping so far. On the downside, a break below 1.7625 would see further weakness targeting 1.7575 & 1.7520 next. On the upside, a break above 1.7800 would see further upside targeting 1.7825 & 1.7900. Stand aside for now.
USD/CHF (1.2752) Market is still trading sideways between 1.2715 & 1.2900. Pair is currently holding above the 1.2730 level allowing intraday studies to move higher and further consolidation is expected for now. On the downside, a break below 1.2715 would see further weakness targeting 1.2670 & 1.2630. On the upside, a break above 1.2900 would see further upside towards 1.2900 & 1.3000. Daily studies are showing first signs of a positive bias and a break above the 1.2910 level, also the trendline level from the 1.3285 top is needed to confirm this view. Stand aside.
AUD/USD (0.7560) Market reached 0.7580 where resistance was found and pair bounced slightly lower from there al intraday studies correct from overbought levels. Daily studies remain deep in overbought territory however there is no sign of topping for now. On the downside, a break below 0.7495 would see further downside pressure towards 0.7475 & 0.7430. On the upside, a break above 0.7580 would see another up-leg targeting 0.7650 first. Stand aside.
USD/CAD (1.1589) No change in view, market is still trading sideways between 1.1555 and 1.1655. Intraday studies are mostly neutral for the pair and daily studies are showing the first signs of a return lower. A break below 1.1555 would see further downside targeting 1.1455 & 1.1425. On the upside, a break above the 1.1710 level, also the trendline level from the 1.2735 high would see further upside. Stand aside.
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