USD JPY at the psychological barrier – Analysis - 04/12/2014
The USDJPY pair resumed its positive trading to come very close from the psychological barrier at 120.00, which it’s very important to monitor the price behavior there, as its possible to witness strong sell-offs from these areas, due to its sensitivity, which the price reach for the first time since 2007.
In general, the overall bullish trend will remain valid and active on the short term and medium term basis, supported by the EMA50, being aware that breaking 119.00 followed by 117.35 might cause a key turn with the price direction, to start a bearish correction that we will come to explain its targets in case confirming its start.
Expected trading range for today is between 119.00 support and 121.00 resistance.
Expected trend for today: Bullish
GBP USD continues to fluctuate – Analysis - 04/12/2014
The GBPUSD pair keeps fluctuating near the critical resistance at 1.5720, as long as the price is below this level, so our bearish trend expectations remain valid and active, waiting for heading towards 1.5590 then 1.5370 levels mainly.
The EMA50 continues to support the suggested bearish wave’s support, being aware that breaching 1.5720 will lead the GBPUSD price to retest the previously broken neckline of the head and shoulders pattern at 1.5870 before any new attempt to decline.
Expected trading range for today is between: 1.5500 support and 1.5760 resistance.
Expected trend for today: Bearish
EUR USD under more negative pressure – Analysis -04/12/2014
The EURUSD pair trading settled at 1.2300 level, which represents the first main target mentioned in our last reports, pointing that stochastic keeps moving lower inside the oversold levels, and the EMA50 continues to push negatively on the intraday and short term trading.
Therefore, we believe that the chances is available for achieving more downside moves in the upcoming period, where its next main target located at the psychological barrier at 1.2000, reminding you that the continuation of the bearish trend depend mainly on the stability below 1.2490.
Expected trading range for today is between: 1.2200 support and 1.2400 resistance.
Expected trend for today: Bearish
Update: Euro attacks the first target
The EURUSD pair resumes its negative trading now to touch 1.2300 level that represents the first main target suggested in our recent reports, and the price is falling under more negative pressure that hints the continuation of the bearish trend in the upcoming period, reminding you with the extended targets towards 1.2000.