*** Weekly Technical Analysis

EURO

The pair fluctuated near the previously breached pivot support levels at 1.2730, with attempts to stabilize above it. Note that, the last week’s closing level was exactly at these levels, accordingly, preserving our expectations of a downside wave during this week, supported by the rising wedge that limits the pair’s trading, thus we expect a downside move for this week that requires a clear breach of 1.2700.

The trading range for today is among the major support at 1.2400 and the major resistance at 1.2920.

The short term trend is to the downside as far as 1.3770 remains intact with targets at 1.1700.

Support 1.2685 1.2645 1.2600 1.2570 1.2520

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Resistance 1.2770 1.2840 1.2900 1.2950 1.3000

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Recommendation Based on the charts and explanations above our opinion is selling the pair with four hour closing below 1.2730 targeting 1.2570 and stop loss above 1.2840 might be appropriate

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GBP

According to the above chart, the pair’s rushed to the upside to retest 1.5555 levels, accompanied by the momentum indicator’s approach to overbought areas, which preserves our expectations for a downside trend this week, with suggested technical targets at 1.5370 and 1.5160, taking into consideration that a strong support levels exist near 1.5440 that represents a retest for the previously breached technical pattern, requiring the pair to breach those levels in order to achieve our expectations.

The trading range for today is among the major support at 1.5160 and the major resistance at 1.5750.

The short term trend is to the downside as far as 1.6070 remains intact with targets at 1.3800.

Support 1.5500 1.5440 1.5360 1.5310 1.5280

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Resistance 1.5555 1.5600 1.5650 1.5710 1.5750

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Recommendation Based on the charts and explanations above our opinion is selling the pair around 1.5555 targeting 1.5370 and stop loss above 1.5685 might be appropriate

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JPY

The trading range for today is among the major support at 1.5160 and the major resistance at 1.5750.

The short term trend is to the downside as far as 1.6070 remains intact with targets at 1.3800.

Support 1.5500 1.5440 1.5360 1.5310 1.5280

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Resistance 1.5555 1.5600 1.5650 1.5710 1.5750

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Recommendation Based on the charts and explanations above our opinion is selling the pair around 1.5555 targeting 1.5370 and stop loss above 1.5685 might be appropriate

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CHF

Despite the negative pressure on the pair, last week’s closing levels was above the downside channel’s support levels - that controls the pair’s short-term trading – at 1.0270. Expectations for an upside trend remains intact, where an ascending technical pattern are forming with a neckline at 1.0305, which encourage an upside trend for this week that requires a clear breach for 1.0305 levels along with a daily closure above the downside channel’s support levels at 1.0270. Initial targets are at 1.0460.

The trading range for today is among the major support at 1.0130 and the major resistance at 1.0555.

The short term trend is to the upside as far as 1.0200 is intact with targets at 1.1730.

Support 1.0270 1.0200 1.0130 1.0075 1.0000

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Resistance 1.0305 1.0420 1.0460 1.0500 1.0555

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Recommendation Based on the charts and explanations above our opinion is buying the pair around 1.0270 targeting 1.0460 and stop loss below 1.0200 might be appropriate

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CAD

And pair declined severely Friday, affected by the downside technical pattern at 1.0530, accordingly, we expect that pair to return and test the downside channel’s resistance levels that turned into support at 1.0425. Currently the pair is trading within the rising channel shown in the above chart, where momentum indicators are showing overbought areas, forcing an expectation for a divergence in trading after the retesting phase, therefore, the general trend for this week is to the upside, with targets at 1.0700 that requires a daily closing above 1.0340.

The trading range for today is among the major support at 1.0340 and the major resistance at 1.0825.

The short term trend is to the upside as far as 0.9925 is intact with targets at 1.1485.

Support 1.0425 1.0400 1.0340 1.0315 1.0260

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Resistance 1.0530 1.0585 1.0625 1.0655 1.0700

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Recommendation Based on the charts and explanations above our opinion is buying the pair near 1.0425 targeting 1.0625 and stop loss below 1.0325 might be appropriate