The European currency yesterday rallied to the upside direction

euro
 
The European currency yesterday rallied to the upside direction after it reversed back from the significant support level as low as 1.4650s to the major upside trend line to hold the Euro up until the major resistance level at 1.4740s with high volume. This indicates the upside potential for today to set the target at 1.4830s resistance level if the currency succeeds passing the important resistance level at 1.4770s.

The trading range for today might be between the key resistance level at 1.4858 and the key support level at 1.4600.

The general trend is up as far as 1. 4270 remains intact targets now at 1.5000 and 1.5370.

 gbp
 
The British pound yesterday moved in the upside channel in a strong bullish movement since it failed to breach the key support level at 2.0340s to drive through the upside wave hitting the levels of 2.570s; opening a new chance for the pound to retest the major upside resistance at the point of 2.650s. The pound today might progress towards the upside as well.

The trading range for today might be between the key resistance level at 2.0650 and the key support level at 2.0360.

The general trend is up as far as 1.9950 remains intact targets now at 2.1150 and 2.1400

 jpy
 
The dollar against the Japanese yen rallied towards the upside since it faced a solid support level yesterday at 110.70s causing it to reverse its direction rapidly to the upside. Therefore the pair opened the chance to move towards the 112.80s level to extend the wave after that until the levels of 113.40.

The trading range for today will be between the key resistance at 113.40 and the key support at 110.50

The general trend is down as far as 121.30 remains intact, targets at 106.45 and 104.70. 

chf
 
The dollar against the SWISS Frank leaped to the upside yesterday due to the key resistance located at the upside trend line around 1.1270s. The technical direction parameters show the continuation pattern to the upside targets within the upside projection movements.

The trading range for today will be between the key resistances at 1.1440 the key support at 1.1230.

The general trend is down as far as 1.1830 remains intact, targets at 1.0850 and 1.0640.

cad
 
The dollar against the Canadian obviously jumped to the upside direction in the first trading session but was unable to maintain its bullish momentum to drop down then to close in a neutral pattern within the same consolidation area. The pair today is expected to drop until the levels of 1.0020s.

The trading range for today will be between the key resistance at 1.0240 and the key support at 0.9965.

The general trend is down as far as 1.0245 remains intact, targets will be 0.9030 and 0.8965.