euro
Obviously the European currency managed to hit new records yesterday in the absence of the US dollar strength, the slope’s steep angle to the upside wave shows the strength of this move which is expected to push the Euro up until the 1.4140s strong resistance level.
The trading range for today might be between the key resistance level at 1.4150 and the key support level at 1.3950.
The general trend is up as far as 1.3600 remains intact targets now at 1.4500 and 1.4885.
We expect buying Euro above1.4040 with a target at 1.4140, stop loss below 1.3985.
gbp
The British pound managed to move towards the upside in a bullish pattern after it built the base above the major support level yesterday at 1.9970 to hit the key resistance level at 2.0140s, today we expect the pound to continue towards the upside as long as it stays above 2 dollar barrier.
The trading range for today might be between the key resistance level at 2.0235 and the key support level at 1.9970.
The general trend is up as far as 1.9650 remains intact targets now at 2.0635 and 2.0740.
We expect buying sterling above 2.0075 with a target at 2.0210, stop loss below 2.0020.
jpy
The dollar against the Japanese yen arranged a strong drop with high levels of volume and high volatility, due to that the pair hit the unexpected low at 114.00; therefore today the pair seems to continue towards the major support at 113.30s.
The trading range for today will be between the key resistance at 115.40 and the key support at 113.00.
The general trend is down as far as 124.60 remains intact, targets at 112.60 and 111.30.
We expect selling USD/JPY below 114.80 with a target at 113.50, stop loss above 115.40
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