An insider's look at the current markets
Our morning expectations remain valid as far as stability prevails below the retest area.
The trading range for today is among the major support at 1.3800 and the major resistance at 1.4235.
The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.
| Support | 1.4050 | 1.3980 | 1.3910 | 1.3850 | 1.3800 |
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| Resistance | 1.4100 | 1.4150 | 1.4235 | 1.4285 | 1.4360 |
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| Recommendation | Based on the charts and explanations above we recommend selling the pair around 1.4150 targeting 1.3980 and stop loss above 1.4235 might be appropriate | ||||
The pair reached the 38.2% Fibonacci correction at 1.3210 accompanied by overbought signs on Stochastic. The pair activated the morning scenario and remains valid with stability below 1.6250.
The trading range for today is among the major support at 1.5880 and the major resistance at 1.6310.
The short-term trend is to the upside with steady daily closing above 1.5315 with targets at 1.7000.
| Support | 1.6125 | 1.6045 | 1.6000 | 1.5955 | 1.5880 |
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| Resistance | 1.6210 | 1.6250 | 1.6295 | 1.6365 | 1.6415 |
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| Recommendation | Our morning expectations remain valid | ||||
The pair consolidated at the SMA 50 and rushed to the upside towards the targets. The pair activated the morning scenario and remains valid with stability above 81.40.
The trading range for today is among the major support at 80.25 and the major resistance at 83.50.
The short-term trend is to the downside as far as 89.35 remains intact with targets at 77.70.
| Support | 81.75 | 81.45 | 80.75 | 80.20 | 79.80 |
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| Resistance | 82.50 | 83.00 | 83.50 | 83.90 | 84.50 |
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| Recommendation | Our morning expectations remain valid | ||||
The SMA 50 was strong resistance against the pair forcing it to the downside towards 23.6% Fibonacci correction at 0.8740. We expect more intraday bearishness for today affected by trading within the main descending channel shown above, yet the pair needs to breakthrough 0.8740 to confirm the downside move.
The trading range for today is among the major support at 0.8600 and the major resistance at 0.8945.
The short-term trend is to the downside with steady daily closing below 1.0330 targeting 0.8000.
| Support | 0.8740 | 0.8650 | 0.8600 | 0.8550 | 0.8485 |
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| Resistance | 0.8810 | 0.8880 | 0.8945 | 0.9000 | 0.9040 |
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| Recommendation | Based on the charts and explanations above our opinion is selling the pair with the breach of 0.8740 and take profit in at 0.8650 and stop loss above 0.8810 might be appropriate | ||||
The pair is trading around the 61.8% Fibonacci correction that now turned into support at 0.9770; stability above this level maintains trading within the minor ascending channel. Our expectations remain valid with stability above 0.9730.
The trading range for today is among the major support at 0.9625 and the major resistance at 0.9970.
The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.
| Support | 0.9770 | 0.9730 | 0.9680 | 0.9620 | 0.9565 |
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| Resistance | 0.9845 | 0.9915 | 0.9970 | 1.0000 | 1.0055 |
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| Recommendation | Based on the charts and explanations above our opinion is buying the pair around 0.9770 targeting 0.9970 and stop loss below 0.9680 might be appropriate | ||||