Major Technical Analysis

euro

The European currency declined yesterday after it jumped to the key resistance at the levels of 1.4920s to reach as low as the key support level at 1.4800s. This move affected the technical oscillators indicators to reflect some bearish movements in the upcoming period. The trading range for today might be between the key resistance level at 1.4950 and the key support level at 1.4720. The general trend is up as far as 1. 4270 remains intact targets now at 1.5000 and 1.5370
We expect selling Euro below 1.4850 with a target at 1.4775, stop loss above 1.4900

gbp

The British pound yesterday fluctuated with a neutral pattern as it couldn't pass the tough resistance level at 2.0750s despite it dropping to reach the key support level at 2.0640s without being able to break it. Therefore, we expect bearish movements towards the downside today as the pound lacks bullish momentum. The trading range for today might be between the key resistance level at 2.0820 and the key support level at 2.0500.The general trend is up as far as 1.9950 remains intact targets now at 2.1150 and 2.1400
We expect selling sterling below 2.0720 with a target at 2.0600 stop loss above 2.0770

jpy

The dollar against the Japanese yen replaced the bearish movements two days ago with a strong bullish pattern with high levels of volume to take the pair up near the significant resistance level at 109.15. Meanwhile, the technical directional studies showed the upside potential for the short term. The trading range for today will be between the key resistance at 110.70 and the key support at 107.20The general trend is down as far as 121.30 remains intact, targets at 106.45 and 104.80.