USD CAD touches a solid resistance 12/11/2012
The pair hit the critical resistance level 1.0030 again and bounced lower from there, accompanied with stochastic entering oversold levels, which support our scenario of continuing the general bearish trend which is protected now by stability below the mentioned level.
The waited targets mainly start by attacking the 0.9885 support that will ease the way for extended targets towards 0.9700
Expected trading range for this week is between: 0.9700 support and 1.0150 resistance.
Expected trend for this week: Bearish
USD JPY begins the breaking attempts 12/11/2012
The pair attempted to breach 79.40, but it found a strong support at the EMA50 at 79.15, which forces the price for bouncing to the upside now.
Until now, getting clearer signals for the trend is needed, and this depends on breaching one of these critical levels between 79.15 support and 80.70 resistance.
Expected trading range for this week is between: 77.65 support and 81.70 resistance.
Expected trend for this week: Depends on the aforementioned levels
GBP USD stops at the first target 12/11/2012
The pair bearishness was stopped at the first waited target 1.5900, finding a good base there, supported by stochastic.
Some bullish bias is probable now to retest 1.5995, pointing that the bearish correctional bias will remain valid for the upcoming days unless 1.5995 was breached then 1.6065, and this will stop the bearish correction and turns the price back to the general bullish trend again.
Expected trading range for this week is between: 1.5600 support and 1.6100 resistance.
Expected trend for this week: Bearish
EUR USD is settled lower 12/11/2012
The pair remains stable below 1.2800, and at the same time above the critical support barrier 1.2725, which makes us continue with our sideways range scenario on the intraday basis, where stochastic is offering positive signals on the daily time frame supporting the chances for achieving some bullish bias for now.
In general, the sideways trading range remains valid unless 1.2725 is breached and settled below, while this technical factor will push the price towards levels that begin at 1.2600 and might extend to reach 1.2400
Expected trading range for this week is between: 1.2550 support and 1.3000 resistance.
Expected trend for this week: Sideways