The European currency dropped to a two months low

EURO

The European currency dropped to a two months low reaching 1.430s support, opening the path to the next support at 1.4270s; passing this key level may push the euro further to the significant support area 1.4180s, hence the Euro is expected to move in a bearish pattern as well.

The trading range for today might be between the key resistance level at 1.4440 and the key support level at 1.4200.

The general trend is up as far as 1. 3860 remains intact targets now at 1.4760 and 1.4930.

GBP

The British pound yesterday moved down massively to hit the important support level at 1.980s to show a progressive pattern in the downside as long as it stays below the major level around 2.0000; today the pound is expected to move again toward the downside target at 1.9740s.

The trading range for today might be between the key resistance level at 2.0000 and the key support level at 1.9700.

The general trend is up as far as 1.9540 remains intact targets now at 2.0940 and 2.1050.

JPY

The dollar against the Japanese yen yesterday dropped down showing the consolidation area at the peak of the upside short term wave to indicate some tendency in the downside direction today as long as the pair couldn't pass the major resistance level at 113.40s.

The trading range for today will be between the key resistance at 114.50 and the key support at 111 00.

The general trend is down as far as 121.30 remains intact, targets at 112.40 and 111.20.

CHF

The dollar against the SWISS Frank yesterday fluctuated in a narrow range towards the upside, but it managed to end the trading with tendency towards the downside as the pair entered an overbought area which in role could lead the pair to the downside today.

The trading range for today will be between the key resistances at 1.1680 the key support at 1.1450.

The general trend is down as far as 1.2020 remains intact, targets at 1.1445 and 1.1230.

CAD

The dollar against the Canadian yesterday tended to move in a bearish move reflecting the downside direction after it has formed the peak of an upside wave in the short term, so that the pair today will probably progress in the downside direction.

The trading range for today will be between the key resistance at 1.0080 and the key support at 0.9800.

The general trend is down as far as 1.0450 remains intact, targets will be at 0.9000 and 0.8880.