*** Weekly Technical Analysis

EURO

The pair managed to breach resistance for the descending short term channel through the major price gap the pair has opened trading on it for today. The bullish technical pattern completed its formation and points possibly to more bullish direction for this week; targeting levels 1.3800 then 1.3915 mainly. Keep in mind that some fluctuation is expected in an attempt to cover the price gap and retest breached resistance that had turned into support around 1.3500.

The trading range for today is among the key support at 1.3410 and the key resistance at 1.3915.

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

Support 1.3595 1.3525 1.3470 1.3410 1.3350

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

Resistance 1.3670 1.3730 1.3800 1.3850 1.3915

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

Recommendation Based on the charts and explanations above our opinion is buying the pair from 1.3595 targeting 1.3800 and stop loss below 1.3470, might be appropriate.

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

GBP

The chart drawing above shows that a bullish technical pattern has been formed after a clear breach of the neckline 1.5380 is insured; therefore last week's expectations are insured to be rebounding upwards. Momentum indicators show overbought signs that might force the pair to retest the broken neckline, before continuing to move bullishly during this week. The key target is around 1.5700; keeping in mind that these expectations require closing to remain above 1.5295 to prevail.

The trading range for today is among the key support at 1.5295 and the key resistance at 1.5700.

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

Support 1.5390 1.5295 1.5245 1.5180 1.5125

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

Resistance 1.5475 1.5525 1.5555 1.5605 1.5700

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

Recommendation Based on the charts and explanations above our opinion is buying the pair from 1.5380 targeting 1.5605 and stop loss below 1.5295, might be appropriate.

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

JPY

The pair's short term trading is stabilizing within the ascending channel shown above, with more signs of the breached resistance for the previous bearish trend after the pair builds a base above MA 200, while Stochastic is showing bullish signs that support achieving more bullish direction for this week; targets start around 94.70 then 95.55. This requires the closing to remain above 91.65 to insure that it prevails.

The trading range for today is among the key support at 91.65 and the key resistance at 95.55.

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

Support 92.35 91.65 91.05 90.45 90.00

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

Resistance 93.35 94.00 94.70 95.55 96.00

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

Recommendation Based on the charts and explanations above our opinion is buying the pair from 92.70 target 924.70 and stop loss below 91.65, might be appropriate.

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

CHF

The pair succeeded in returning within the descending channel shown above, with help from the bearish technical pattern shown last Friday. Negative momentum still evident through momentum indicators, and therefore encouraging us to expect more bearish movement for this week; initially targeting support for the descending channel around 1.0350 – 1.0310. This essentially requires the closing to remain below 1.0685.

The trading range for today is among the key support at 1.0245 and the key resistance at 1.0745.

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

Support 1.0500 1.0425 1.0350 1.0310 1.0235

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

Resistance 1.0635 1.0685 1.0745 1.0795 1.0840

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

Recommendation Based on the charts and explanations above our opinion is selling the pair around 1.0635 targeting 1.0500 and stop loss above 1.0745, might be appropriate.

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

CAD

The pivotal resistance of 1.0060 holds its stance against the pair's attempts to move upwards, and thus insuring the strength of the bearish technical pattern shown in our previous reports. This pattern as well as the descending channel that organizes short term trading will insure the expected bearish trend for this week; targeting 0.9865 – 0.9805 mainly. This awaited bearish trend requires trading to remain below 1.0120 to prevail.

The trading range for today is among the key support at 0.9705 and the key resistance at 1.0200.

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

Support 1.0000 0.9950 0.9900 0.9865 0.9805

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

Resistance 1.0060 1.0120 1.0200 1.0290 1.0335

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

Recommendation Based on the charts and explanations above our opinion is selling the pair from 1.0060 targeting 0.9950 and stop loss above 1.0120, might be appropriate.