Major Technical Analysis

euro

The European currency yesterday rallied in the upside direction as the currency built a strong base at the major trend line at 1.4600 to launch the bullish move. The euro tried to hit the major resistance level at 1.4730s; in the meantime, the technical parameters indicated that the euro still has the chance to keep moving to the upside today.
The trading range for today might be between the key resistance level at 1.4840 and the key support level at 1.4630.
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 1.4680 with a target at 1.4780, stop loss below 1.4635.

gbp

The British pound yesterday rallied to the upside direction in a progressive pattern with high levels of volume to take the pound up until the major resistance level at 2.0480s. After yesterday's close, the technical studies indicate that the pound still has the upside potential for today.
The trading range for today might be between the key resistance level at 2.0570 and the key support level at 2.0240.
The general trend is up as far as 1.9950 remains intact targets now at 2.1170 and 2.1420
We expect buying sterling above 2.0440 with a target at 2.0560 stop loss below 2.0380

jpy

The dollar against the Japanese yen slightly moved to the upside yesterday to hit the major resistance level at 112.00 to before declining to consolidate around the 111.60s. However, the pair is expected to drop today as it closed below the major downside trend line until the levels of 110.
The trading range for today will be between the key resistance at 112.50 and the key support at 110.40.
The general trend is down as far as 121.30 remains intact, targets at 108.30 and 106.80.