*** Weekly Technical Analysis

EURO

Last week’s trading session closed above the pivotal support areas of 1.3485; maintaining chances of a general bullish direction intact for now. Meanwhile, trading remains within the main descending channel shown above, this makes us expect a bullish direction for this week trading naturally within this channel initially targeting levels 1.3800 then attempts to head towards resistance for the descending channel at 1.4000. Chances of achieving this expected bullishness will prevail as long as the daily closing remains above 1.3485.

The trading range for today is among the key support at 1.3265 and the key resistance at 1.4000.

The general trend is to the upside if we do not witness a daily closing below 1.3485 with targets at 1.6000.

Support 1.3560 1.3485 1.3430 1.3360 1.3310

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Resistance 1.3655 1.3720 1.3800 1.3875 1.3920

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Recommendation Based on the charts and explanations above our opinion is buying the pair with the breach of 1.3655 targeting 1.3800 and stop loss below 1.3560, might be appropriate.

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GBP

The descending channel showed a stance against attempts of the pair to descend, in line with momentum indicators entering oversold areas. These signs make us expect a possible bullish direction for this week; targeting mainly 1.5655 followed by 1.5815. Keep in mind the importance of the daily close remaining above 1.5455 to maintain chances of achieving it.

The trading range for today is among the key support at 1.5120 and the key resistance at 1.5815.

The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7200.

Support 1.5455 1.5345 1.5270 1.5200 1.5125

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Resistance 1.5525 1.5580 1.5640 1.5715 1.5810

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Recommendation Based on the charts and explanations above our opinion is buying the pair from 1.5455 targeting 1.5655 and stop loss below 1.5345, might be appropriate.

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JPY

The pair reversed trading to near resistance for the main descending channel, due to effects from the MA 200 that will start the expected bearish short term for the week. The first expected target is around 90.30 followed by the more vital 88.20, where the breach of it will pave the way for more bearish movement towards targets below 85.00. keep in mind the importance of the daily closing remaining below 92.40 to maintain chances of achieving these expectations.

The trading range for today is among the key support at 88.20 and the key resistance at 93.75.

The general trend is to the downside as far as 102.60 remains intact with targets at 82.60.

Support 91.25 90.30 89.55 88.75 88.20

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Resistance 92.40 92.90 93.75 94.50 95.00

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Recommendation Based on the charts and explanations above our opinion is selling the pair from 92.20 target 90.30 and stop loss above 93.75, might be appropriate.

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CHF

The pair is approaching support for the ascending short term channel at 1.0715, while ongoing negative pressure is bearish and makes us expect more bearish correction for this week; targeting initially 1.0605 – 38.2% Fibonacci correction – then 1.0515. Momentum indicators support these expectations which require the breach of 1.0715 and trading remaining below 1.0855.

The trading range for today is among the key support at 1.0420 and the key resistance at 1.1025.

The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.

Support 95.00 1.0660 1.0605 1.0515 1.0460

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Resistance 1.0785 1.0855 1.0890 1.0950 1.1025

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Recommendation Based on the charts and explanations above our opinion is selling the pair with the breach of 1.0715 targeting 1.0605 and stop loss above 1.0785, might be appropriate.

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CAD

The pair continued its negative effects achieving more bullish movement below pivotal support 1.0410. The effects coming from the bearish technical patterns make us expect more bearish movement for this week; targeting initially 1.0190. The breach of 1.0555 will make the direction rebound and target 38.2% Fibonacci at 1.0780.

The trading range for today is among the key support at 1.0190 and the key resistance at 1.0780.

The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0000.

Support 1.0355 1.0270 1.0190 1.0125 1.0080

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Resistance 1.0410 1.0505 1.0555 1.0590 1.0650

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Recommendation Based on the charts and explanations above our opinion is to avoid trading awaiting more confirmation signs for the pair’s direction, might be appropriate.