Major Technical Analysis

euro

The European currency fell last week in a very strong pattern as it couldn't brake out the key resistance level at the miner descending trend line at the levels of 1.4440s, falling from there to the low of the key support level at 1.4360s by which passing all the key downside levels, at the end of the day the Euro reversed back to the upside again to close in a neutral pattern, all of this indicate an upside potential for today.
The trading range for today might be between the key resistance level at 1.4550 and the key support level at 1.4300.
The general trend is up as far as 1. 4060 remains intact targets now at 1.4780 and 1.4960
We expect buying Euro above 1.4387 with a target at 1.4470, stop loss below 1.4340.

gbp

The British pound yesterday started in a weak pattern by which it couldn't breach the main resistance level at 2.0220s to get down again all the way towards the major support at 2.0110, nevertheless; the technical oscillators still show the downside way with some slowing upside movements.
The trading range for today might be between the key resistance level at 2.0320 and the key support level at 2.0050.
The general trend is up as far as 1.9800 remains intact targets now at 2.1170 and 2.1420
We expect selling sterling below 2.0160 with a target at 2.0080 stop loss above 2.0200.

jpy

The dollar against the Japanese yen rallied to the upside direction yesterday as it couldn't get below the major support level at 112.80s by which it started an upside move rapidly. Yet the pair extended the upside trend after it confirmed some bullish signals.
The trading range for today will be between the key resistance at 114.50 and the key support at 111.50.
The general trend is down as far as 121.30 remains intact, targets at 108.30 and 106.80.