Daily Forex Technicals | Written by ecPulse.com
EURO
The Euro versus Dollar pair inclined once again breaching the key resistance for the descending channel in an attempt to near the key support for the ascending channel at 1.3405. Our outlook remains to the upside confirmed by the breach of 1.3405 where targets are now at 1.3585 on the intraday followed by levels above 1.3700; yet we must witness a four hour close above 1.3315 maintaining levels above 1.3035 on the short term.The trading range for today is among the key support at 1.2800 and the key resistance at 1.3585. The general trend is to the downside as far as 1.4710 remains intact with targets at 1.2120
Support: 1.3275, 1.3190, 1.3175, 1.3120, 1.3035
Resistance: 1.3405, 1.3445, 1.3525, 1.3585, 1.3625
Recommendation: According to our analysis, buy the pair above 1.3275 with targets at 1.3405 and stop loss with four hour closing below 1.3190
GBP
The Cable continues to incline as it nears the key resistance for the ascending channel at 1.5000. We expect the pair to pressure the above mentioned resistance to open the way towards 1.5350 on the intraday basis yet the 1.4845 support must remain intact.The trading range for today is among the key support at 1.4240 and the key resistance at 1.5400. The general trend is to the downside as far as 1.5270 remains intact with targets at 1.3440
Support: 1.4885, 1.4845, 1.4765, 1.4735, 1.4705
Resistance: 1.5000, 1.5070, 1.5170, 1.5235, 1.5300
Recommendation: According to our analysis, buy the pair aboev 1.4885 with targets at 1.5000 and stop loss with four hour closing below 1.4830
JPY
The USD/JPY pair reached the 99.55 resistance level where we notice the formation of higher lows and hence an ascending triangle that is supporting our outlook for further inclines towards 100.25 on the intraday basis followed by 103.00 on the short term. This incline requires the 99.20 support level to remain intact where a breach to the downside will open the way towards 98.85 in an attempt to gather bullish momentum.The trading range for today is among the key support at 95.85 and the key resistance at 103.00. The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60
Support: 99.20, 98.85, 98.00, 97.0, 96.65
Resistance: 99.55, 100.25, 100.70, 101.00, 101.45
Recommendation: According to our analysis, buy the pair above 99.55 with targets at 100.25 and 101.45 and stop loss with four hour closing below 98.85
CHF
The Dollar versus Swissy was able to close below 1.1375 on the daily and weekly charts which support our outlook confirming the breach of this level to the downside to reach our initial targets at 1.1165 and 1.0975 respectively. This decline remains as far as 1.1495 remains intact.The trading range for today is among the key support at 1.0975 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: 1.1305, 1.1270, 1.1240, 1.1165, 1.1100
Resistance: 1.1375, 1.1410, 1.1495, 1.1520, 1.1585
Recommendation: According to our analysis, sell the pair below 1.1375 with targets at 1.1240 and stop loss with four hour closing below 1.1495
CAD
The Dollar versus the Loonie continued to decline after correcting to the 23.6% correction on Friday where we expect further decline on the short term as targets remain at 1.1600. This decline remains as far as 1.1890 is intact on the intraday basis and 1.2250 on the short term.The trading range for today is among the key support at 1.1600 and the key resistance at 1.2505. The general trend is to the upside as far as 1.1780 remains intact with targets at 1.3400.
Support: 1.1800, 1.1760, 1.1700, 1.1655, 1.1600
Resistance: 1.1885, 1.1975, 1.2015, 1.2070, 1.2100
Recommendation: According to our analysis, sell the pair below 1.1890 with targets at 1.1760 and stop loss with four hour closing above 1.1975
Daily Forex Technicals | Written by FXtechtrade
EUR/USD
Today's support: - 1.3264, 1.3236 and 1.3208(main), where correction is possible. Break would give 1.3177, where correction also may be. Then follows 1.3144. Break of the latter would result in 1.1312. If a strong impulse, we would see 1.3078. Continuation will give 1.3046 and 1.3018.
Today's resistance: - 1.3368 and 1.3403(main). Break would give 1.3440, where a correction is possible. Then goes 1.3467. Break of the latter would result in 1.3500. If a strong impulse, we'd see 1.3532. Continuation will give 1.3570 and 1.3596.
USD/JPY
Today's support: - 98.98(main). Break would bring 98.42, where correction is possible. Then 98.07, where a correction may also happen. Break of the latter will give 97.43. If a strong impulse, we would see 97.18. Continuation would give 96.76.
Today's resistance: - 99.70 and 99.90(main), where a correction may happen. Break would bring 100.07, where also a correction may be. Then 100.32. If a strong impulse, we would see 100.60. Continuation will give 100.77.
DOW JONES INDEX
Today's support: - 8088.80, 8046.37, 8010.50 and 7987.50(main), where a delay and correction may happen. Break of the latter will give 7959.37, where correction also can be. Then follows 7922.80. Be there a strong impulse, we would see 7900.20. Continuation will bring 7871.40.
Today's resistance: - 8280.00(main), where a delay and correction may happen. Break would bring 8303.90, where a correction may happen. Then follows 8336.20, where a delay and correction could also be. Be there a strong impulse, we'd see 8370.00. Continuation would bring 8398.62
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