USD CAD activates positive pattern 28/01/2013
The pair managed to breach above 1.0030, and settled with a daily close above it, to activate the double top pattern appears in the above chart, which it’s neckline represented by 1.0030.
Therefore, the bullish bias will be preferred on the intraday basis, and the expected targets begin at 1.0180 and it might extend to reach 1.0365, taking into consideration that trading below 1.0030 again will turn the bearish trend scenario, supported by Stochastic current negativity.
Expected trading range for today is between: 0.9930 support and 1.0150 resistance.
Expected trend for today: Bullish
USD JPY breaches the most important barrier 28/01/2013
The pair continued the upside rally to manage to breach above 90.40 and settled with a daily close above it, where this factor is considered as a main key to turn the trend towards the north, as the mentioned barrier represented 76.4% Fibonacci for the decline from 94.97 to 75.55.
Now, we prefer the continuation of the bullish trend, and the further targets begin at 95.00, pointing that breaking below 90.40 will stop these positive overview.
Expected trading range for today is between: 90.40 support and 91.65 resistance.
Expected trend for today: Bullish
GBP USD still stable 28/01/2013
The pair kept the stability below 1.5820, and this makes the correctional bearish trend remains valid, while we remind you that the waited target now is represented by 1.5690.
Note that breaking below 1.5690 will offer bearish targets reaching 1.5600 and extend to hit 1.5520 as main next stations, while breaching above 1.5820 will open the way for the bullish trend return again and stopping the current bearish correction.
Expected trading range for today is between: 1.5600 support and 1.5820 resistance.
Expected trend for today: Bearish
EUR USD attempts to gain some momentum 28/01/2013
The pair settled near the most sensitive resistance at 1.3458, to fluctuate now within sideways and narrow range as appears in the image.
Stochastic negativity might force the price to retest levels around 1.3400 before attempting to resume the bullish trend again, where we are continuing in preferring the bullish trend on the intraday and short term basis, being aware that achieving this positivity requires breaching above 1.3485 besides holding above 1.3400 on the intraday basis.
Expected trading range for today is between: 1.3340 support and 1.3550 resistance.
Expected trend for today: Bullish