GBP
We currently see that the pound was able to build a solid base above 1.4700 without breaching it to the downside resulting in the bearish wave to weaken and enter a sideways pattern as seen on the Bollinger bands. We expect trading to remain to the upside on the short term until 1.4835 with high volatility in these upcoming days. The trading range for today is among the key support at 1.4700 and the key resistance at 1.4835 The general trend is to the downside as far as 1.9400 remains intact with targets at 1.4435 and 1.4095
Support 1.4770 1.4760 1.4740 1.4685 1.4660
Resistance 1.4815 1.4835 1.4885 1.4965 1.5030
Recommendation ...
JPY
The pair is still trading within the descending channel on the medium to long term yet has initiated a bullish channel on the short term that is coming to an end resulting in a rebound to the downside to target 87.60 at the very least. We expect trading for today to remain calm due to holidays in the markets. The trading range for today is among the key support at 88.80 and the key resistance at 92.75 The general trend is to the downside as far as 102.10 remains intact with targets at 84.95 and 82.60
Support 90.15 90.00 89.70 89.55 89.20
Resistance 90.60 90.90 91.30 91.65 92.10
Recommendation ...
CHF
After the large declines, the pair was able to reach 1.0700 once again which resulted in a neutral pattern. Here we are currently waiting to see a breach of this level as seen on different technical indicators. The trading range for today is among the key support at 1.0635 and the key resistance at 1.1140 The general trend is to the upside as far as 1.0570 remains intact with targets at 1.2570 and 1.2780
Support 1.0720 1.0700 1.0680 1.0632 1.0611
Resistance 1.0789 1.0820 1.0835 1.0869 1.0912
Recommendation ...
CAD
As we see, the pair was able to exit the downside channel and is currently trading within a sideways pattern instead. However, trading is narrowing between the 1.2220 and the 1.2120 levels where the pair is currently getting ready to breach one of the levels yet technical indicators are not favoring a specific one. It seems like the pair has tendency to the upside as trading remains of low volume until the end of the year. The trading range for today is among the key support at 1.2120 and the key resistance at 1.2220 The general trend is to the upside as far as 1.1780 remains intact with targets at 1.3305 and 1.3465
Support 1.2140 1.2095 1.2050 1.1980 1.1920
Resistance 1.2165 1.2225 1.2280 1.2295 1.2310..
Recommendation ...
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