*** Weekly Technical Analysis

EURO

The pair is close to retesting previously breached pivotal support at 1.3525, while Stochastic is approaching overbought areas. These factors in addition to stabilizing within the current main descending channel, makes us expect a bearish weekly direction; targeting 1.3090 mainly and requires the closing to remain below 1.3650.

The trading range for today is among the key support at 1.3090 and the key resistance at 1.3735.

The short term trend is to the downside as far as 1.4410 remains intact with targets at 1.2450.

Support 1.3405 1.3360 1.3315 1.3270 1.3240

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Resistance 1.3525 1.3580 1.3650 1.3730 1.3765

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Recommendation Based on the charts and explanations above our opinion is selling the pair from 1.3525 targeting 1.3360 and stop loss above 1.3650, might be appropriate.

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GBP

The pair faced strong support around 1.4800 – 1.4780 – the bottom achieved in the beginning of the current month – as the pair rebounded to the upside in an attempt to newly retest 1.5000 that has presently turned into pivotal resistance for the intraday direction. Momentum indicators still hold onto the positive momentum, which could lead to some bullish intraday movement. In overall, we see that the expected direction for this week is bearish and will continue the short term direction towards upcoming main targets around 1.4650 – 1.4615. These expectations of a bearish trend will prevail if trading remains below 1.5150.

The trading range for today is among the key support at 1.4615 and the key resistance at 1.5315.

The short term trend is to the upside as far as 1.4850 remains intact with targets at 1.7000.

Support 1.4900 1.4850 1.4775 1.4730 1.4685

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Resistance 1.5000 1.5090 1.5150 1.5225 1.5270

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Recommendation Based on the charts and explanations above our opinion is selling the pair from 1.5000 targeting 1.4775 and stop the four hour loss above 1.5150, might be appropriate.

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JPY

The pair stabilized above the resistance for the main previously breached descending channel, appearing in the image above. Meanwhile, 92.20 has currently turned into support supported by MA 200, which encourages us to expect a bullish direction for this week; main targets start at 94.00 then 95.00. Keep in mind that this expected bullishness will remain intact if we do not witness a closing below 91.05.

The trading range for today is among the key support at 91.05 and the key resistance at 95.00.

The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.

Support 92.20 91.75 91.05 90.45 90.00

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Resistance 92.95 93.35 94.00 94.50 95.00

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Recommendation Based on the charts and explanations above our opinion is buying the pair from 92.20 target 94.00 and stop loss below 91.05, might be appropriate.

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CHF

The previously beached retest level for the bullish technical pattern maintained its stance, shown above in blue, where it was met by support for the ascending channel that organizes current trading, in addition to the MA 100 which adds strength to support between 1.0575 – 1.0540. These factors make us expect natural trading within this ascending channel. Therefore, we expect a bullish trend for this week; the first target is at 1.0715, followed by 1.0895. Keep in mind that the breach of 1.0500 and achieving the closing below it will make us reevaluate the current bullish short term direction.

The trading range for today is among the key support at 1.0425 and the key resistance at 1.0895.

The short term trend is to the downside as far as 1.1095 remains intact with targets at 0.9910.

Support 1.0575 1.0540 1.0495 1.0425 1.0360

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Resistance 1.0715 1.0790 1.0840 1.0895 1.0945

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Recommendation Based on the charts and explanations above our opinion is buying the pair with the breach of 1.0715 targeting 1.0895 and stop loss below 1.0575, might be appropriate.

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CAD

The current ascending channel maintains its control on the pair's short term trading, and is currently fluctuating around MA 100. Stochastic is approaching oversold areas, which encourages us to expect a bullish short term for the week that targets mainly 1.0330 – resistance for the ascending channel – then 1.0365 – the previously breached neckline and shown in our previous reports -. Keep in mind that the breach of 1.0150 will weaken chances of achieving the suggested scenario that could lead to a direction descend towards 1.0000.

The trading range for today is among the key support at 1.0000 and the key resistance at 1.0440.

The short term trend is to the downside as far as 1.0780 remains intact with targets at 1.0000.

Support 1.0205 1.0110 1.0080 1.0000 0.9950

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Resistance 1.0245 1.0330 1.0365 1.0445 1.0500

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Recommendation Based on the charts and explanations above our opinion is buying the pair from 1.0205 targeting 1.0365 and stop loss below 1.0115, might be appropriate.