Major Technical Analysis

euro

The European currency fell down yesterday in a major move with high levels of volume to reflect the strength of the move but within the same consolidation area that the Euro formed before a couple of days; nevertheless the Euro is expected to reverse back to the upside as the technical indicators show some upside potential.
The trading range for today might be between the key resistance level at 1.4750 and the key support level at 1.4550.
The general trend is up as far as 1. 4060 remains intact targets now at 1.5000 and 1.5360.
We expect buying Euro above 1.4615 with a target at 1.4720 stop loss below 1.4570

gbp

The British pound yesterday fluctuated in a bullish manner within the correction area due to some restrictions ending with a slight bearish form. On the other hand the pound by that has formed some bullish signals to clarify the upside direction for today.
The trading range for today might be between the key resistance level at 1.9850 and the key support level at 1.9550.
The general trend is up as far as 1.9450 remains intact targets now at 2.1170 and 2.1420.
We expect buying sterling above 1.9690 with a target at 1.9800 stop loss below 1.9650

jpy

The dollar against the Japanese yen rallied in the downside channel in the morning session yesterday as it couldn't get over the major resistance level at 112.40s. Yet the pair extended the downside wave after it confirmed some bearish signals.
The trading range for today will be between the key resistance at 108.50 and the key support at 105.50.
The general trend is down as far as 121.30 remains intact, targets at 103.40 and 101.00.