Trade Idea: GBP/USD - Sell At 1.6260 The British pound dropped below recent low at 1.6153 yesterday to as low as 1.6113 on active cross-selling especially against Japanese yen and although cable has recovered from 1.6113 and retracement to the Tenkan-Sen and Kijun-Sen now at 1.6245 and 1.6248 respectively) cannot be ruled out, price should falter well below the Ichimoku cloud bottom (now at 1.6329) and bring another selloff. Below said support would extend to 1.6090/00, however, reckon chart support at 1.6033 would hold on first testing. Full Report Here... Trade Idea: USD/JPY - Sell At 93.80 Despite intra-day break of 92.54 on risk aversion, lack of follow through selling and current recovery suggests consolidation would take place and test of Kijun-Sen (now at 93.30) cannot be ruled out, however, upside should be limited to 93.80 and 94.08/16 (previous resistance and the current level of the Ichimoku cloud bottom) should hold and bring another decline later to 92.37 (61.8% projection of 97.79-93.42 measuring from 95.07) and then 92.00, however, near term oversold condition should limit downside to chart support at 91.73. Full Report Here... Trade Idea: EUR/USD - Exit Long Entered At 1.4230 And Sell At 1.4300 The single currency dropped sharply yesterday to as low as 1.4177 on risk aversion, this break of the flat ground Ichimoku cloud bottom confirms the rise from 1.4045 has ended at 1.4407 and although price has recovered from 1.4177, upside should be limited to 1.4285-92 (current level of the Ichimoku cloud top and Kijun-Sen) and bring another decline to 1.4140/50, however, as euro is expected to gyrate within recent range of 1.4045-1.4448, said lower level should remain intact. Full Report Here... Trade Idea: USD/CHF - Exit Short Entered At 1.0680 And Buy At 1.0580 Dollar's rebound yesterday turned out to be stronger than expecting and although price has retreated after faltering below resistance at 1.0717, this move suggests a temporary low has possibly been formed at 1.0529 earlier and consolidation with upside bias is seen but a sustain break above 1.0708-17 resistance area is needed to confirm this view and bring further gain towards 1.0749 (61.8% Fibonacci retracement of 1.0885 to 1.0529) and later towards 1.0800 but resistance at 1.0834 should hold from here. Full Report Here... | 
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