EUR/USD (1.1775) Market made a quick attempt above the 1.1800 level and was rejected there. Overall pair is still being capped in a tight range between 1.1810 & 1.1760. Intraday studies are slightly negative for the pair, but given the current lack of direction this is of no help. The downside should remain limited to 1.1765 & 1.1735. On the upside, a break above 1.1820 would see further upside targeting 1.1905 again. A break there would see further upside targeting 1.2000 & 1.2070 next. On the downside, a break below 1.1660 would see a retest of the 1.1640 level. Daily studies are threatening to turn positive for the pair. Hold long at 1.1780, keep SL tight.
Supports: 1.1760-1.1730-1.1690-1.1665-1.1640-1.1625-1.1545-1.1440-1.1380 Resistances: 1.1820-1.1905-1.1925-1.2000- 1.2090-1.2175 Market direction: Neutral - Bullish Today's projected high/low: 1.1900-1.1720 Weekly pivot supports: 1.2525-1.1990 Weekly pivot resistances: 1.3208-1.3457 Conservative recommendation: Hold long 1.1780, SL 1.1720, target 1.1900 first Aggressive recommendation: Hold long 1.1780, SL 1.1720, target 1.1900 first
USD/JPY (120.90) Market is still consolidating above the 120.50 level with 121.40 providing good resistance. Intraday studies are still showing mixed signals. Further weakness is on the cards shortly targeting 120.50 again. A break there would open way to further downside targeting 120.00 & 119.60. A break there would see further weakness targeting 117.80 & 116.80. On the upside a break above 121.40 would see further upside towards the 121.85 level. Daily studies remain positive in overbought territory. Stand aside.
GBP/USD (1.7388) Market bounced up and down between 1.7315 & 1.7450 leaving the intraday studies mixed and pair is now trading within a triangle pattern seen on intraday charts. If the 1.7315 continue to hold, then further upside should be seen targeting 1.7450 & 1.7475 next. On the downside a break below 1.7315 would see further weakness towards 1.7240 & 1.7140. Daily studies remain positive for the pair. Stand aside for now.
USD/CHF (1.3072) Market is still trading sideways between 1.3045 & 1.3110, just above the trendline level from the 1.2250 low. Intraday studies are slightly positive and another run at 1.3110 is expected near-term. The upside should remain capped below 1.3110 & 1.3155. Further downside is should follow from there targeting 1.3040 & 1.3000. On the upside a break above 1.3240 would see further upside targeting 1.3285. Daily studies are showing early signs of negative bias however a break below 1.3060 (trendline level) & 1.3040 would confirm the bearish view. We stand aside.
AUD/USD (0.7498) Market reached 0.7545 and was rejected there. Pair moved lower since and is currently holding above the 0.7485 level. Intraday studies are heading lower from overbought levels and further sideway trading is expected to continue for now. Further upside should resume shortly targeting 0.7550 & 0.7600 next. On the downside, only a break below 0.7320 would see further weakness targeting 0.7250 & 0.7210. Daily studies are positive but close to overbought territory and attention should be paid if pair fails to break 0.7550 again. Hold long at 0.7400, move SL to 0.7470 to lock in profit. Re-adjust target to 0.7600 and exit a failure at 0.7550.
Supports: 0.7480-0.7450-0.7410-0.7360-0.7320-0.7295-0.7260-0.7250 Resistances: 0.7550-0.7610-0.7645-0.7730 Market direction: Bullish Today's projected high/low: 0.7600-0.7440 Weekly pivot supports: 0.7730-0.7546 Weekly pivot resistances: 0.7872-0.8026 Conservative recommendation: Hold long 0.7400, move SL to 0.7470, target 0.7600 Aggressive recommendation: Hold long 0.7400, move SL to 0.7470, target 0.7600
USD/CAD (1.1583) Market reached 1.1530 where support was found and pair bounced higher from there allowing intraday studies to correct from oversold territory. The current upside is seen as corrective only and should remain below the 1.1600 level. Further weakness is expected to continue from there targeting 1.1500 next. Daily studies remain deep in oversold territory however there is no sign of bottoming yet. On the upside, a break above 1.1660 would see further upside towards 1.1750 & 1.1850. Stand aside for now.
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