euro
The European currency had tendency to move in an upside pattern after it made the suitable correction with some consolidation yesterday. Moreover, the euro succeeded in getting some new high records until the levels of 1.4180. Today we expect the euro to progress towards the upside as well.
The trading range for today might be between the key resistance level at 1.4220 and the key support level at 1.4060.
The general trend is up as far as 1. 3270 remains intact targets now at 1.4050 and 1.4220.
We expect buying Euro above 1.4135 with a target at 1.4190 stop loss below 1.4100.
gbp
The British pound yesterday managed a strong upside move after successfully passing the major level at 2.0180s, the same level which forced the pound to consolidate below it two days ago. Today the pound is expected to progress towards the upside.
The trading range for today might be between the key resistance level at 2.0380 and the key support level at 2.0120.
The general trend is up as far as 1.9700 remains intact targets now at 2.0635 and 2.0740.
We expect buying sterling above 2.0255 with a target at 2.0350 stop loss below 2.0210
jpy
The dollar against the Japanese yen last time tended to move in a balanced pattern however it hit the upper strong resistance at 115.80s. The pair moved in the upside direction with not enough momentum which might lead the currency towards the downside today.
The trading range for today will be between the key resistance at 116.50 and the key support at 114.50.
The general trend is down as far as 124.60 remains intact, targets at 112.40 and 111.20
We expect selling USD/JPY below 115.85 with a target at 115.00, stop loss above 116.35.
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