The staff at ICN.com provides technical analysis for three major currency crosses and provides support and resistance levels for each, as well as actionable insight based on either direction they may take next.
The pair is still stable above 180.67 and Linear Regression Indicators are still supporting the opportunities of extending the main bullish wave, which forces us to keep our positive expectations in the coming period, targeting next 186.05. The pair needs some sideways volatility to get rid of the negativity of RSI and MACD before extending the upside move.
Support: 181.45, 180.67, 179.90, 179.05, 178.65
Resistance: 182.00, 182.75, 183.35, 184.45, 185.00
Recommendation: Positive expectations above 182.75, risk-limit below 181.45.
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The pair dropped after the attempt to breach 145.75 and is trading at the support the ascending channel showing above, while Linear Regression Indicators are still providing positive signals that support extending the main bullish bias that requires breaching the referred to level to confirm extending bullishness towards 148.45. Breaking 145.00-144.60 pushes the pair towards 142.35 before any new bullish attempt.
Support: 145.00, 144.60, 144.00, 143.75, 143.35
Resistance: 145.75, 146.00, 146.55, 147.00, 147.45
Recommendation: Positive expectations above 145.75, risk-limit below 144.60.
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The pair continued moving to the upside and is attempting now to breach 0.8015, which favors extending the upside move targeting 0.8060 and 0.8110, while a break below 0.8945 threatens to fail the suggested expectations and favors bringing the downside move back again. Breaching 0.8015 is significant to confirm the upside move.
Support: 0.7945, 0.7890, 0.7815, 0.7700, 0.7660
Resistance: 0.8015, 0.8090, 0.8145, 0.8240, 0.8300
Recommendation: Positive expectations above 0.8015, risk-limit below 0.7945.
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By the staff of ICN.com
