Major Technical Analysis

euro

The European currency yesterday moved in a very strong bullish move towards the major resistance level at 1.4920s, this move caused significant adjustment to the technical pattern to confirm the strength of the Euro against the US dollar to set the target now at 1.5000 on the short-term.
The trading range for today might be between the key resistance level at 1.5000 and the key support level at 1.4750.
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 1.4870 with a target at 1.4960, stop loss below 1.4815.

gbp

The British pound yesterday traded in the downside channel with high levels of volume reflecting key weakness in the pound which will probably change the general direction for the pound; however, today the pound might move up as a correction for the bearish week until the levels of 1.9650s.
The trading range for today might be between the key resistance level at 1.9700 and the key support level at 1.9400.
The general trend is up as far as 1.9460 remains intact targets now at 2.1150 and 2.1400.We expect buying sterling above 1.9550 with a target at 1.9650 stop loss below 1.9490.

jpy

The dollar against the Japanese yen progressed towards the downside yesterday with high levels of volatility to confirming downside signals, which in role will lead the pair down again today until the major support area around 107.00.
The trading range for today will be between the key resistance at 109.30 and the key support at 106.50
The general trend is down as far as 121.30 remains intact, targets at 106.45 and 104.70. We expect selling USD/JPY below 108.00 with a target at 107.00, stop loss above 108.50.