EURO
The Euro versus the Dollar was able to breach the key resistance at 1.3110 to incline in a new bullish wave to alter the intraday trend to the upside. Our next target is at the key resistance for the downside channel at 1.3320 where all we need is the confirmation of the breach of 1.3220. Reaching 1.3320 requires the 1.3050 level to remain intact.The trading range for today is among the key support at 1.2800 and the key resistance at 1.3400.The general trend is to the downside as far as 1.4710 remains intact with targets at 1.2120
Support: 1.3140, 1.3110, 1.3050, 1.2990, 1.2955
Resistance: 1.3220, 1.3320, 1.3360, 1.3405, 1.3450
Recommendation: According to our analysis, buy the pair above 1.3220 with targets at 1.3320 and stop loss with four hour closing below 1.3140
GBP
The Cable versus the Dollar was able to rebound to the upside after building a solid base at 1.4515 to breach the 1.4690 resistance and attempt to break the next resistance at 1.4705. Breaching the 1.4690 will open the way for the pair to reach 1.4845 after confirming the breakout of the 1.4705 level with a four hour closing above it and as far as 1.4590 remains intact.The trading range for today is among the key support at 1.4240 and the key resistance at 1.5280. The general trend is to the downside as far as 1.5270 remains intact with targets at 1.3440
Support: 1.4690, 1.4645, 1.4590, 1.4530, 1.4480
Resistance: 1.4705, 1.4745, 1.4790, 1.4845, 1.4890
Recommendation: According to our analysis, buy the pair above 1.4705 with taregts at 1.4845 and stop loss with four hour closing below 1.4590
JPY
The USD/JPY pair was steadily trading within a downside channel and inclined after touching the key support for the channel. Our outlook remains to the upside targeting 97.65 before reversing to the downside on the intraday to support the short term trend where our downside targets at 95.65 as an initial target and then off to 94.00 on the short term as far as 97.65 remains intact.The trading range for today is among the key support at 94.00 and the key resistance at 99.60. The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60.
Support: 96.65, 96.35, 95.65, 95.20, 94.85
Resistance: 97.10, 97.65, 98.40, 98.75, 99.40
Recommendation: According to our analysis, sell the pair below 97.65 with targets at 95.65 and stop loss with four hour closing above 98.40
CHF
After trading remained within tight ranges among 1.1585 and 1.1545, the Dollar versus Swissy was able to decline to breach the key support of the ascending channel at 1.1450 and close below it which may open the way for the pair towards 1.1355 as an initial target where a successful breakout of this level will result in a vigorous bearish wave towards the key support at 1.1165 and 1.0975 on the short term. This decline remains as far as 1.1450 remains intact and with a confirmed breach of the 1.1355 level.The trading range for today is among the key support at 1.1165 and the key resistance at 1.1800.The general trend is to the upside as far as 1.0570 remains intact with targets at 1.2245
Support: 1.1355, 1.1305, 1.1240, 1.1205, 1.1165
Resistance: 1.1450, 1.1485, 1.1520, 1.1585, 1.1645
Recommendation: According to our analysis, sell the pair below 1.1450 with targets at 1.1355 and 1.1240 and stop loss with four hour closing below 1.2610
CMS Forex
by Hans Nilsson
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