USD CAD begins the bullish rebound – Analysis - 27/03/2015
The USDCAD pair touched the bullish trend line that appears on image and bounces bullishly from there, hinting resuming the bullish trend on the intraday and short term basis, as we are waiting to target the recently recorded top around 1.2800, and attempting to breach this level to open the way towards 1.3000.
Stochastic heads upwards to support the suggested rise, which its continuation conditions holding above 1.2360 level.
Expected trading range for today is between: 1.2400 support and 1.2600 resistance.
Expected trend for today: Bullish
USD JPY retests – Analysis - 27/03/2015
The USDJPY pair retested the previously neckline of the double top pattern at 119.30 and kept the daily close below it, which keeps the negative effect of this pattern valid, waiting to target 117.90 level initially and extend to 116.55 on the near term basis.
Stochastic reaches the overbought area to support the waited decline, which its continuation conditions holding below 119.30.
Expected trading range for today is between 117.90 support and 120.00 resistance.
Expected trend for today: Bearish
GBP USD attempts negatively – Analysis - 27/03/2015
The GBPUSD pair settles near the key support 1.4813, which we are waiting to break it to confirm opening the way to continue the bearish wave towards our next targets located at 1.4645 then 1.4460.
In general, holding below 1.5000 keeps the overall bearish bias valid, supported by the EMA50, while stochastic current positivity might cause some temporary sideways fluctuation before resuming the suggested bearish trend.
Expected trading range for today is between: 1.4700 support and 1.4960 resistance.
Expected trend for today: Bearish
EUR USD returns to decline – Analysis -27/03/2015
The EURUSD pair ended yesterday’s trading below the bearish channel’s resistance, which brings the price back to the main bearish track, attempting to resume the main bearish trend, which its initial targets start at 1.0600 and extend to 1.0200.
Note that the EMA50 forms strong support at 1.0845, thus, the price needs to break this level to confirm the continuation of the bearish trend for today, taking into consideration that the negative overview will remain valid and active unless we witnessed a clear breach and hold above 1.1025.
Expected trading range for today is between: 1.0720 support and 1.1025 resistance.
Expected trend for today: Bearish