USD CAD provides negative close 03/01/2013
The pair accomplished a daily close below 0.9885 to support our bearish trend expectations, while stochastic offers signals for the bearish trend that reinforce the chances of heading towards achieving our targets starting at 0.9800 followed by 0.9700
Breaking below 0.9825 will offer a strong negative motive that eases the price mission of achieving the waited targets.
Expected trading range for today is between: 0.9700 support and 0.9910 resistance.
Expected trend for today: Bearish
USD JPY settles higher 03/01/2013
The pair’s trading settled above 87.00, and fluctuates quietly now, while the bullish trend expectations remain valid, and the first main target is testing the strength of 87.50
Note that breaching above the mentioned level will lead to a direct rising towards 90.00 – 90.50, while breaking below 85.65 will turn the price back to decline again.
Expected trading range for today is between: 86.00 support and 88.50 resistance.
Expected trend for today: Bullish
GBP USD breaks the major support 03/01/2013
The pair accomplished a break to 1.6310 affected by the bullish channel’s resistance appears in the above image, to turn the intraday trend to the downside temporarily, and this decline might extend to reach the channel’s support at 1.6095
Stochastic enters the oversold levels to provide a support for the chances of getting back to move higher, while we prefer staying aside now in order to monitor the price behavior according to the critical levels represented by 1.6095 support and 1.6310 resistance.
Expected trading range for today is between: 1.6095 support and 1.6400 resistance.
Expected trend for today: Neutral
EUR USD heads to the channel’s support 03/01/2013
The pair collapsed sharply yesterday, noticing that the price begins today’s trading with a break to the critical support level 1.3145, where approaching now from the bullish channel shown in the image.
Yesterday trading close above the aforementioned level makes us keep the positive expectations valid, and the suggested scenario is a natural trading inside the mentioned channel, as we are waiting a leaning on the support at 1.3085 before the return to resume the bullish trend again.
We must take into consideration that breaking below 1.3085 will reverse the intraday and short term trend to the downside.
Expected trading range for today is between: 1.3085 support and 1.3200 resistance.
Expected trend for today: Bullish