*** Weekly Technical Analysis

EURO

The pair was not able achieve a daily closing below pivotal support 1.3485 to insure reversing the general direction into a bearish one. Momentum indicators are nearing overbought areas that point to expected negative pressure for this week. From here, we see that the expected general direction for this week is a bearish one that primarily targets main support mentioned towards 1.3200 as a first target. The bearish short term direction that remains intact as long as the daily closing below 1.3890.

The trading range for today is among the key support at 1.3200 and the key resistance at 1.3880.

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

Support 1.3580 1.3515 1.3485 1.3430 1.3360

--------------------------------------------------------------------------------

Resistance 1.3670 1.3720 1.3800 1.3890 1.3920

--------------------------------------------------------------------------------

Recommendation Based on the charts and explanations above our opinion is selling the pair from 1.3670 targeting 1.3485 and stop loss above 1.3800, might be appropriate.

-----------------------------------------

GBP

The bearish short term wave trading for the pair are stabilizing within a descending channel, shown above, after insuring the breach of the neckline for the bearish technical pattern at 1.5705. Meanwhile, there are more awaited bearish targets where chances of a minor bullish correction before resuming the bearish short term direction expected for this week; where upcoming targets are around 1.4950 – 1.4850. The breach of 1.5385 weakens chances of achieving these expectations.

The trading range for today is among the key support at 1.4850 and the key resistance at 1.5465.

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

Support 1.5125 1.5065 1.4995 1.4950 1.4850

--------------------------------------------------------------------------------

Resistance 1.5230 1.5285 1.5345 1.5385 1.5420

--------------------------------------------------------------------------------

Recommendation Based on the charts and explanations above our opinion is selling the pair from 1.5285 targeting 1.5125 and stop loss above 1.5385, might be appropriate.

-----------------------------------------

JPY

The pair is approaching the pivotal support between 88.50 – 88.20 that represent the neckline for the bearish technical pattern shown in the daily chart above. The positive signs appearing on the momentum indicators could push the pair attempt to fluctuate with a minor bullish correction for the last bearish wave, before the pair resumes the expected bearish short term direction for this week; which will start with the breach of 88.20 and target 86.90 then 85.00. Chances of this bearish wave continuing require trading to remain below 90.85.

The trading range for today is among the key support at 86.90 and the key resistance at 90.85.

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

Support 88.50 88.20 87.75 86.90 86.40

--------------------------------------------------------------------------------

Resistance 89.50 90.00 90.85 91.40 92.15

--------------------------------------------------------------------------------

Recommendation Based on the charts and explanations above our opinion is selling the pair with the breach of 88.20 target 86.90 and stop loss above 89.50, might be appropriate.

-----------------------------------------

CHF

The pair exited trading from the ascending channel that represents the bullish short term wave, where the first correction level 23.6% stands as volatile support in front of the pair attempts to descend. We expect a bullish overall direction for this week that requires the base to build on 1.0715; targeting 1.0895 then 1.1000. The bullish short term direction that depends on the daily close to remain above 1.0560.

The trading range for today is among the key support at 1.0560 and the key resistance at 1.0000.

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

Support 1.0715 1.0645 1.0605 1.0560 1.0515

--------------------------------------------------------------------------------

Resistance 1.0770 1.0840 1.0890 1.0950 1.1000

--------------------------------------------------------------------------------

Recommendation Based on the charts and explanations above our opinion is buying the pair from 1.0715 targeting 1.0890 and stop loss below 1.0560, might be appropriate.

-----------------------------------------

CAD

The pair is facing a hard time stabilizing above MA 100 today, which continues the negative pressure on the pair to trade near pivotal support 1.0410. Signs of an ascending channel we see will organize trading the bullish short term direction expected this week; where main targets are at 1.0880. The daily close must remain above 1.0410 to maintain chances of achieving these expectations.

The trading range for today is among the key support at 1.0410 and the key resistance at 1.0880.

The general trend is to the downside as far as 1.1295 remains intact with targets at 1.0000.

Support 1.0500 1.0475 1.0410 1.0355 1.0305

--------------------------------------------------------------------------------

Resistance 1.0565 1.0645 1.0700 1.0785 1.0865

--------------------------------------------------------------------------------

Recommendation Based on the charts and explanations above our opinion is buying the pair with the breach of 1.0565 targeting 1.0785 and stop loss below 1.0410, might be appropriate.