USD CAD below the moving average 06/12/2012
The pairs’ trading settled below EMA50, while Stochastic offered negative crossing signals on the daily time frame that reinforces our expectations of the bearish trend which mainly depends on breaking the rising wedge support shown in the image.
Our main targets begin at 0.9800, and the chances of achieving it remain valid unless 1.0030 was breached
Expected trading range for today is between: 0.9800 support and 1.0030 resistance.
Expected trend for today: Bearish
USD JPY is positive 06/12/2012
The pair offered positive trading yesterday approaching from the sideways range resistance mentioned yesterday at 82.80, where it is expected that the sideways range will remain the dominant as long as the trading was limited between this range lines which represented by 81.70 support and 82.80 resistance.
Note that breaching 82.80 will open the way for continuing the bullish trend which begun after breaching 80.60, and the next target is testing the strength of 83.45.
Expected trading range for today is between: 81.00 support and 83.45 resistance.
Expected trend for today: Depends on the above mentioned levels
GBP USD in sideways range 06/12/2012
The pair was fluctuating in sideways range since yesterday, where it found a difficulty in surpassing 1.6115, while Stochastic continues moving near the oversold levels, beside the continuous support offered by EMA50
Therefore, we are continuing in our bullish trend scenario which depends on holding above 1.5995 and the most important above 1.5940
Expected trading range for today is between: 1.6000 support and 1.6300 resistance.
Expected trend for today: Bullish
EUR USD approaches the retest level 06/12/2012
The slight bearish bias continued to appear on the pair yesterday, to trade now around 1.3050, while the price is approaching from the retest level of the recent breached neckline at 1.3000
Stochastic is entering the oversold levels, that encourages us to keep our expectations of the general bullish trend which initially target 1.3145 while achieving it required stability above 1.3000
Expected trading range for today is between: 1.3000 support and 1.3250 resistance.
Expected trend for today: Bullish