USD CAD is settled 05/12/2012
The pair remains stable below the breached rising wedge support, and now Stochastic is providing us with a negative overlapping signal on the four hours time frame, which support our expectations of continuing the bearish trend on the short term basis, and the targets remain at 0.9800 followed by 0.9700
Expected trading range for today is between: 0.9800 support and 1.0030 resistance.
Expected trend for today: Bearish
USD JPY in sideways range 05/12/2012
The pair’s trading bounced to the upside after founding solid support at the supposed neckline for the pattern we mentioned yesterday at 81.70, where the price now trades within sideways range as shown in the image.
The next intraday trend depends on surpassing one of the critical level which restricts the next move, these levels are represented by 81.70 support and 82.80
Expected trading range for today is between: 81.00 support and 83.50 resistance.
Expected trend for today: Depends on the above mentioned levels
GBP USD attempts to breach 05/12/2012
The pair continued the attempts to breach 1.6115 but didn’t manage to achieve daily close above it until now, at the same time, we can see that Stochastic enters the oversold levels to support our expectation of continuing the bullish trend which remains valid and suggested on the short term basis.
EMA50 offers an extra support for the waited bullishness which targets 1.6525 as a next main station.
Expected trading range for today is between: 1.6035 support and 1.6300 resistance.
Expected trend for today: Bullish
EUR USD at the main resistance threshold 05/12/2012
The pair resumes moving to the upside to surpass 1.3100 and attempts to settle above it, while the price approaches from the critical resistance 1.3145, and a clear breach for this level is required to open the way for achieving more gains.
We must be aware that the price might be forced to bounce lower a little when hitting this level; on the other hand, there is a continuous support from EMA50 encourages us to remain in our bullish trend scenario on the intraday and short term basis.
Expected trading range for today is between: 1.3000 support and 1.3250 resistance.
Expected trend for today: Bullish