Major Technical Analysis

euro

The European currency last Friday closed in a balanced pattern; that's since the key support level at 1.4590s hindered the Euro's drop, after plunging from the day's high at 1.4680s. Therefore the Euro now is about to form wave B in the upside direction within the extended correction wave; the Euro is expected to move then further higher today.
The trading range for today might be between the key resistance level at 1.4770 and the key support level at 1.4530.
The general trend is up as far as 1. 4270 remains intact targets now at 1.5000 and 1.5370.
We expect buying euro above 1.4645 with a target at 1.4710, stop loss below 1.4600.

gbp

The British pound last week dropped massively reaching 2.0180s support levels; that in role led the pound to an over-sold area. That move provides a great chance for the pound to rebound. Last Friday the pound fluctuated to closed in a bullish pattern causing key adjustments to the technical oscillators reflecting the upside tendency for today.
The trading range for today might be between the key resistance level at 2.0440 and the key support level at 2.0200.
The general trend is up as far as 1.9950 remains intact targets now at 2.1170 and 2.1420
We expect buying sterling below 2.0285 with a target at 2.0380 stop loss below 2.0235

jpy

The dollar against the Japanese yen remained subdued last Friday since it lacked momentum closing with tendency towards the upside. The pair still has a chance to hit the main resistance level at the major downside tend line at 112.20s to reverse back to the downside after reaching an over bought-area.
The trading range for today will be between the key resistance at 112.50 and the key support at 110.20.
The general trend is down as far as 121.30 remains intact, targets at 108.30 and 106.80.
We expect selling USD/JPY below 112.15 with a target at 110.700, stop loss above 112.80.