Major Technical Analysis

euro

The European currency dropped yesterday massively as it passed the key support area at 1.4400s, which took the currency down to hit the major support level at 1.4320s. However the euro reversed back in the last session to the upside regaining some losses. The technical form has adjusted to show the downside target at 1.4260s.
The trading range for today might be between the key resistance level at 1.4440 and the key support level at 1.4200.
The general trend is up as far as 1. 3860 remains intact targets now at 1.4760 and 1.4930
We expect selling Euro below 1.4400 with a target at 1.4270 stop loss above 1.4450.

gbp

The British pound yesterday was trading with tendency towards the downside after the pound breached the important support area at 2.0100. However it was able to reverse back in the last session but the pound is still drawing the bearish map in terms of a correction move.
The trading range for today might be between the key resistance level at 2.0200 and the key support level at 1.9800.
The general trend is up as far as 1.9800 remains intact targets now at 2.0940 and 2.1050
We expect selling sterling below 2.0010 with a target at 1.9900 stop loss above 2.0070.

jpy

The dollar against the Japanese yen yesterday moved to the upside target at the important resistance level at 113.50s. However it dropped in a strong move towards the key support area at 112.60s during the morning session. As a result, today the pair might move in the upside direction.
The trading range for today will be between the key resistance at 115.00 and the key support at 112. 50.
The general trend is down as far as 121.30 remains intact, targets at 112.40 and 111.20.