EUR/USD (1.1841) The downside was limited to 1.1780 and market bounced higher, currently heading towards 1.1850 again. Intraday studies are positive for the pair and any downside, if seen, should remain limited to 1.1755 before further upside is seen targeting 1.1905. A break there would see further upside targeting 1.2000 & 1.2070 next. On the downside, a break below 1.1690 would see a retest of the 1.1640 level. Daily studies are on the hedge to turn positive for the pair and a break above 1.1905 would confirm the positive bias. Look to enter long at 1.1765.
Supports: 1.1790-1.1705-1.1690-1.1665-1.1640-1.1625-1.1545-1.1440 Resistances: 1.1855-1.1905-1.1925-1.2000- 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: Long 1.1765, SL 1.1690, target 1.1905 first Aggressive recommendation: Long 1.1765, SL 1.1690, target 1.1905 first
USD/JPY (120.77) Market did rebound from the 119.96 level and the upside is currently being capped below the 121.00 level. Intraday studies are close to overbought territory and the upside should limited. Further weakness is expected to follow targeting 120.00 & 119.60. A break there would see further weakness targeting 118.30 &117.80. On the upside a break above 121.40 would see further upside towards the 121.85 level. Daily studies are threatening to turn negative for the pair and a confirmed break below 120.20/00 would confirm the negative bias. Hold short at 120.80, keep SL tight.
Supports: 120.00-119.90-119.20-118.30-118.10-117.85-117.35-116.85 Resistances: 121.00-121.40-121-65-121.95/122.05-122.40-122.90-124.10 Market direction: Neutral - Bearish Today's projected high/low: 121.00-119.60 Weekly pivot supports: 105.15-104.67 Weekly pivot resistances: 109.55-108.90 Conservative recommendation: Hold short 120.80, SL 121.50, target 118.40 Aggressive recommendation: Hold short 120.80, SL 121.50, target 118.40
GBP/USD (1.7580) Market bounced higher from the 1.7490 low and is currently being capped at the 1.7590 level. Intraday studies are turning positive again, but close to overbought levels, and some pullback is expected. The downside should remain limited to 1.7450 & 1.7390 before further upside is seen 1.7580 & 1.7610. On the downside a break below 1.7300 would see further weakness towards 1.7240 & 1.7140. Daily studies remain positive. Stand aside for now.
USD/CHF (1.3036) Market moved slightly higher from the 1.2960 level and pair broke the trendline level from the 1.2240 low at 1.3060 again. Intraday studies are heading lower and the upside should remain limited to 1.3090. Further weakness is expected to follow targeting 1.2960 & 1.2920 next. On the upside, a break above 1.3160 would see further upside targeting 1.3240 next. Daily studies are negative for the pair and Friday’s down-move confirms the negative bias. Hold short at 1.3030, keep SL tight.
Supports: 1.2960-1.2930-1.2860-1.2750-1.2700 Resistances: 1.3070-1.3160-1.3235-1.3250-1.3290-1.3325-1.3400 Market direction: Negative Today's projected high/low: 1.3090-1.2930 Weekly pivot supports: 1.1749-1.1500 Weekly pivot resistances: 1.2139-1.2280 Conservative recommendation: Hold short 1.3030, SL 1.3095, target 1.2870 Aggressive recommendation: Hold short 1.3030, SL 1.3095, target 1.2870
AUD/USD (0.7511) Market moved lower from the 0.7520 level but was capped above 0.7485, also the trendline level from the 0.7320 low and market bounced higher again currently holding at the 0.7520 level. Intraday studies are positive and further upside is expected shortly with a retest of the 0.7550 level. A break there would see further upside targeting 0.7600 next. On the downside, a break below 0.7445 would see further weakness targeting 0.7320 & 0.7250. Daily studies are positive but close to overbought territory and attention should be paid if pair fails to break 0.7550 again. Stand aside.
USD/CAD (1.1562) No change in view, market remains capped in a tight range between 1.1560 & 1.1640. Intraday studies are slightly negative, which is of no help given the current lack of direction. Further weakness is still favored while below the 1.1660 level with 1.1530 as next target. Daily studies remain positive for the pair however a break above 1.1660 is needed to see a first sign of an up-leg with 1.1750 & 1.1850 as targets. Stand aside for now.
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