*** Weekly Technical Analysis

EURO

The pair touched 1.3800 reversing and achieving some bearishness due to the affect of momentum indicators, where we think the pair will visit support for the minor ascending channel shown around 1.3685 before resuming the overall bullish movement for this week, where bullish targets have not been resumed yet. Targets, however, start at the pivotal level to insure the short and medium term trend at 1.3885 then 1.4000. Note that breaching 1.3570 holds the keys to making the bullish trend fail and lead the pair within a bearish direction.

The trading range for today is among the key support at 1.3570 and the key resistance at 1.4000.

The short term trend is to the downside as far as 1.3885 remains intact with targets at 1.1700.

Support 1.3710 1.3640 1.3570 1.3500 1.3420

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

Resistance 1.3775 1.3810 1.3885 1.3950 1.4000

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

Recommendation Based on the charts and explanations above our opinion is buying the pair around 1.3685 targeting 1.3865 and stop loss below 1.3570, might be appropriate.

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

GBP

The cable continues trading within an ascending short term channel, although it is currently leaning towards the downside due to the negativity of the stochastic, where the pair is expected to retest the pair at 1.5725 followed by a bullish rebound as it achieves an expected bullish trend this week; all the while trading within the current downside channel and building a base above SMA 50. Technical targets are chiefly seen around 1.6000, where we must observe the pair’s movement to insure it’s medium and short term trend. The bullish direction depends on the building a base on the closing above 1.5700 to prevail.

The trading range for today is among the key support at 1.5620 and the key resistance at 1.6260.

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

Support 1.5780 1.5725 1.5685 1.5620 1.5560

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

Resistance 1.5845 1.5920 1.5960 1.6025 1.6070

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

Recommendation Based on the charts and explanations above our opinion is buying the pair around 1.5720 targeting 1.5920 and stop loss below 1.5620, might be appropriate.

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

JPY

After stabilizing in the past few days below resistance for the descending channel succeeded in breaching this channel’s resistance, with a bullish technical formation appearing and may cause instability within the pair’s upcoming trades. Current support has turned into support at 83.50, while momentum indicators are heading to the upside as signs of a bullish intraday rebound are appearing. We recommend observing the daily closing the mentioned support level, where building a base above it could insure the direction is bullish and heading towards levels that begin at 85.40.

The trading range for today is among the key support at 81.60 and the key resistance at 85.40.

The short term trend is to the downside as far as 91.55 remains intact with targets at 79.60.

Support 83.50 83.00 82.40 82.00 81.60

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

Resistance 83.95 84.40 85.20 85.95 86.25

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

Recommendation Based on the charts and explanation above our opinion is observing the pair’s movement to insure its upcoming direction.

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

CHF

The pair continues naturally trading within a minor ascending channel that shows the possibility of continuing trading within the key bearish channel, due to the assumed positive momentum appearing through the four hour chart, alongside the bullish technical pattern as its neckline is at 0.9845. We expect a bullish trend this week targeting resistance for the descending channel at 1.0000, but note that breaching 0.9680 will cause this scenario to fail.

The trading range for today is among the key support at 0.9550 and the key resistance at 1.0000.

The short term trend is to the upside as far as 0.9635 remains intact with targets at 1.1120.

Support 0.9740 0.9705 0.9660 0.9635 0.9600

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

Resistance 0.9845 0.9880 0.9930 1.0000 1.0025

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

Recommendation Based on the charts and explanations above our opinion is buying the pair with the breach of 0.9845 targeting 1.0000 and stop loss below 0.9740, might be appropriate.

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

CAD

The pair strongly breached support for the sideway range at 1.0215; thus indicating the bearish trend prevailing, supported by the bearish channel that is controlling short term trading that appears within the chart above. This comes alongside building a base below SMA 50, thus a bearish direction is expected this week in overall started targets at 1.0000 then pivotal 0.9925. The daily closing requires a base to be built below 1.0310.

The trading range for today is among the key support at 0.9925 and the key resistance at 1.0310.

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

Support 1.0165 1.0105 1.0040 1.0000 0.9925

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

Resistance 1.0215 1.0295 1.0345 1.0380 1.0410

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

Recommendation Based on the charts and explanations above our opinion is selling the pair around 1.0215 targeting 1.0000 and stop loss above 1.0310, might be appropriate.