The pick of the day is EUR/USD we’ve been following this pair fairly closely this week because once again my forecast came true and Mr. Fibo held the pair at the 50% level from further drops that we saw the beginning of the week. The RSI is heading up from the neutrality area signaling more gains.

The pair remains on an overall uptrend on the weekly dance floor since June 2012 and within a well-define upward channel since April 2013. We’re expecting more upward advances with 1.4050 and 1.4245 as next targets. Now a downside breakout of 1.3640 would call for a consolidation to 1.3450.

So it’s Good Friday tomorrow and the New York Stock Exchange will be closed and therefore, my team and I will be taking a break. Personally I’ll be continuing the Passover celebration with my family.

I’ll see you all on Monday!

In the mean time, sign up for our education program today and learn forex trading the right way, in less than 5 hours.

Intraday Forex Technical Levels

EUR/USD Intraday: the upside prevails

Our preference: Long positions above 1.383 with targets @ 1.3865 & 1.388 in extension.

Alternative scenario: Below 1.383 look for further downside with 1.381 & 1.379 as targets.

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

Supports and resistances:
1.3905
1.388
1.3865
1.3858 Last
1.383
1.381
1.379

GBP/USD Intraday: the upside prevails

Our preference: Long positions above 1.678 with targets @ 1.685 & 1.69 in extension.

Alternative scenario: Below 1.678 look for further downside with 1.675 & 1.6715 as targets.

Comment: The pair is pulling back on its support ahead of further advance.

Supports and resistances:
1.6945
1.69
1.685
1.6814 Last
1.678
1.675
1.6715

Our preference: Short positions below 102.15 with targets @ 101.8 & 101.65 in extension.

Alternative scenario: Above 102.15 look for further upside with 102.4 & 102.6 as targets.

Comment: The pair is rebounding and is challenging its resistance, caution.

Supports and resistances:
102.6
102.4
102.15
102.123 Last
101.8
101.65
101.45

USD/CHF Intraday: under pressure.

Our preference: Short positions below 0.8805 with targets @ 0.8755 & 0.8735 in extension.

Alternative scenario: Above 0.8805 look for further upside with 0.882 & 0.8845 as targets.

Comment: The RSI is badly directed.

Supports and resistances:
0.8845
0.882
0.8805
0.8781 Last
0.8755
0.8735
0.871

NZD/USD Intraday: the upside prevails

Our preference: Long positions above 0.857 with targets @ 0.866 & 0.869 in extension.

Alternative scenario: Below 0.857 look for further downside with 0.8545 & 0.8515 as targets.

Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:
0.8745
0.869
0.866
0.8613 Last
0.857
0.8545
0.8515

AUD/USD Intraday: rebound expected

Our preference: Long positions above 0.9325 with targets @ 0.939 & 0.9425 in extension.

Alternative scenario: Below 0.9325 look for further downside with 0.929 & 0.925 as targets.

Comment: The RSI lacks downward momentum.

Supports and resistances:
0.946
0.9425
0.939
0.9344 Last
0.9325
0.929
0.925

USD/CAD Intraday: the bias remains bullish

Our preference: Long positions above 1.0965 with targets @ 1.103 & 1.1045 in extension.

Alternative scenario: Below 1.0965 look for further downside with 1.094 & 1.0915 as targets.

Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The pair is trading in a bullish channel.

Supports and resistances:
1.107
1.1045
1.103
1.1015 Last
1.0965
1.094
1.0915