USD CAD attacks the waited support 26/11/2012
The pair declined to begin the attempts of breaching the rising wedge support shown in the image, where the price needs a confirmed breach to 0.9920 level in order to activate the pattern’s negative effect.
In general, the previous expected bearish trend scenario remains valid and active, and the main targets begin at 0.9800 followed by 0.9700, while achieving it requires 1.0030 steadiness against any attempt for moving higher.
Expected trading range for this week is between: 0.9700 support and 1.0100 resistance.
Expected trend for this week: Bearish
USD JPY in sideways’ range 26/11/2012
The pair shows sideways trading range recently with slight bearish bias after approaching from 83.00, and affected by Stochastic .
In general, we still expect continuing the bullish trend on the short term as long as the trading remains above 81.45, and the main targets begin at 83.45 followed by 84.10
Expected trading range for this week is between: 82.00 support and 84.10 resistance.
Expected trend for this week: Bullish
GBP USD breaches strongly 26/11/2012
The pair achieved solid breach to the bearish correction channel resistance and settled with daily and weekly close above it, to offer positive signals for the attempts of stopping the correction mentioned in our previous reports.
Therefore, we expect continuation in the bullish bias for this week and the main targets begin by attacking 1.6115 to confirm more bullishness towards 1.6310, we need to be aware that breaching 1.5985 will turn the price back to the bearish correction trend again.
Expected trading range for this week is between: 1.5900 support and 1.6310 resistance.
Expected trend for this week: Bullish
EUR USD reaches psychological level 26/11/2012
The pair was able to reach the main waited target at the psychological barrier 1.3000, to bounce lower now affected by this level strength and Stochastic negativity.
Now, we expect that the bullish bias might control the upcoming trading, and the next targets at 1.3145 followed by 1.3280, taking into consideration that breaching 1.2910 then 1.2865 will significantly decrease the chances of achieving the waited targets.
Expected trading range for this week is between: 1.2800 support and 1.3280 resistance.
Expected trend for this week: Bullish