Major Technical Analysis

euro

The European currency dropped to a two months low reaching 1.430s support, opening the path to the next support at 1.4270s; passing this key level may push the euro further to the significant support area 1.4180s, hence the Euro is expected to move in a bearish pattern as well.
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 1.4370 with a target at 1.4270 stop loss above 1.4420

gbp

The British pound yesterday moved down massively to hit the important support level at 1.980s to show a progressive pattern in the downside as long as it stays below the major level around 2.0000; today the pound is expected to move again toward the downside target at 1.9740s.

The trading range for today might be between the key resistance level at 2.0000 and the key support level at 1.9700.
The general trend is up as far as 1.9540 remains intact targets now at 2.0940 and 2.1050.
We expect selling sterling below 1.9865 with a target at 1.9770 stop loss above 1.9920.

jpy

The dollar against the Japanese yen yesterday dropped down showing the consolidation area at the peak of the upside short term wave to indicate some tendency in the downside direction today as long as the pair couldn't pass the major resistance level at 113.40s.
The trading range for today will be between the key resistance at 114.50 and the key support at 111 00.

The general trend is down as far as 121.30 remains intact, targets at 112.40 and 111.20.
We expect selling USD/JPY below 113.20 with a target at 112.20, stop loss above 113.65.