And the pick of the day is EUR/USD as we enter an important market moving week with central bank statements, GDP reports, PMIs, Euro zone reports and US Non-Farm Payrolls reports. These are the events you’d want to watch out for and probably readjust your stops and limits if you are on long-term trades. If you are a short term or day trader, you have a lot to be excited about this week! On the daily EUR/USD dance floor, the pair bounced up before breaking below the Ichimoku cloud and opened above it on Friday. Today it also broke above the 23% Fibonacci level, with the RSI moving above neutrality area,  signaling more gains with 1.39336, 1.4050 and 1.4245 as next targets. Now if the pair suddenly decide to go nuts and break down below 1.3640, that would change our outlook to consolidation in the 1.34 area.

A quick word with our Japanese followers, 来月から日本語で為替市場レポートをお伝えしますから、是非日本語バージョンも見にきてください！！

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Intraday Technical forex Levels

Our preference: Long positions above 1.3845 with targets @ 1.388 & 1.39 in extension.

Alternative scenario: Below 1.3845 look for further downside with 1.383 & 1.381 as targets.

Comment: The pair stands above its new support and remains on the upside.

Supports and resistances:
1.3915
1.39
1.388
1.3867 Last
1.3845
1.383
1.381

USD/JPY Intraday: rebound.

Our preference: Long positions above 102 with targets @ 102.5 & 102.7 in extension.

Alternative scenario: Below 102 look for further downside with 101.85 & 101.65 as targets.

Comment: The pair is rebounding and is breaking above its resistance.

Supports and resistances:
102.9
102.7
102.5
102.375 Last
102
101.85
101.65

USD/CHF Intraday: under pressure.

Our preference: Short positions below 0.8805 with targets @ 0.8755 & 0.874 in extension.

Alternative scenario: Above 0.8805 look for further upside with 0.883 & 0.8845 as targets.

Comment: The pair stands below its resistance and remains under pressure.

Supports and resistances:
0.8845
0.883
0.8805
0.8781 Last
0.8755
0.874
0.872

Our preference: Short positions below 0.859 with targets @ 0.8515 & 0.8475 in extension.

Alternative scenario: Above 0.859 look for further upside with 0.8635 & 0.8665 as targets.

Comment: The RSI is bearish and calls for further downside.

Supports and resistances:
0.8665
0.8635
0.859
0.8546 Last
0.8515
0.8475
0.843

AUD/USD Intraday: bullish bias above 0.9265.

Our preference: Long positions above 0.9265 with targets @ 0.9315 & 0.935 in extension.

Alternative scenario: Below 0.9265 look for further downside with 0.9245 & 0.921 as targets.

Comment: Intraday technical indicators lack momentum. The pair is uspported by a rising trend line.

Supports and resistances:
0.9375
0.935
0.9315
0.9281 Last
0.9265
0.9245
0.921

USD/CAD Intraday: bullish bias above 1.0995.

Our preference: Long positions above 1.0995 with targets @ 1.105 & 1.107 in extension.

Alternative scenario: Below 1.0995 look for further downside with 1.097 & 1.094 as targets.

Comment: The RSI lacks downward momentum.

Supports and resistances:
1.1105
1.107
1.105
1.1027 Last
1.0995
1.097
1.094