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GBP USD under negative pressure 17/05/2013
The pair attempted to breach 1.5270 without settling for long time above it, as there’s negative pressure coming from the EMA50, which allows us to suggest negative trading for today, with targets starting by attacking 1.5190 level, which a break for it represents the key for heading towards 1.5035 then further towards 1.4820
The expected bearish trend remains valid unless 1.5270-1.5340 were breached.
Expected trading range for today is between: 1.5070 support and 1.5360 resistance.
Expected trend for today: Bearish
EUR USD resumes the decline 17/05/2013
The pair showed some slight positive trading yesterday without settling above 1.2900, to turn back and resume the bearish bias which is supported by the negative signal coming from stochastic.
Therefore, the bearish trend remains valid and expected for today, supported by the EMA50, waiting for our main target at 1.2725, while this decline remains valid unless 1.2970 was breached.
Expected trading range for today is between: 1.2725 support and 1.2970 resistance.
Expected trend for today: Bearish
Midday update for NZD USD 16/05/2013
The pair is breaking below 0.8173, and as we mentioned this morning, this break will open the gate towards continuing the bearish trend that was begun in the beginning of this month.
Therefore, the bearish trend will be preferred for the rest of today’s trading, unless the price returned to settle above the mentioned level, and then attempting to test the resistance barrier that located at 0.8270
Expected trading range for today is between: 0.8050 support and 0.8360 resistance.
Expected trend for today: Bearish
Midday update for AUD USD 16/05/2013
The pair continues its bearish pressure to begin the process of breaking the critical support 0.9825, this break supports the continuation of the bearish trend on the short term basis, to open the way towards targeting 0.9580
A daily candlestick close below 0.9825 will confirm the suggested decline, while our bearish trend expectations remain valid unless 0.9975 was breached to the upside.
Expected trading range for today is between: 0.9765 support and 0.9975 resistance.
Expected trend for today: Bearish