Trade Idea: USD/CHF - Sell At 1.0650 Despite Friday's brief jump to 1.0700, the retreat from there suggests as long as 1.0700-08 resistance holds, recent decline would resume after consolidation and break of recent low at 1.0529 would confirm and extend weakness to 1.0500, then towards 1.0451 (50% projection of 1.1742 to 1.0592 measuring from 1.1026), however, oversold condition would limit downside and price should stay well above chart support at 1.0370. Full Report Here... Trade Idea: GBP/USD - Buy At 1.6300 As cable has risen again after finding renewed buying at 1.6288 last Friday and this morning's break of 1.6415 resistance suggests the rise from 1.6113 low to retrace recent decline would bring further gain to 1.6469 (38.2% Fibonacci retracement of 1.7044 to 1.6113) and possibly towards 1.6500. However, reckon 1.6579 (50% Fibonacci retracement) would hold from here due to overbought condition and bring retreat later. Full Report Here... Trade Idea: EUR/USD - Buy At 1.4240 Despite falling to 1.4191 last Friday after the release of slightly better-than-expected U.S. job reports, the subsequent strong rebound on cross-buying of euro versus Japanese yen suggests gain towards 1.4407 resistance would be seen, however, break of recent high at 1.4448 is needed to confirm medium term upmove has resumed and extend to 1.4474 (50% projection of 1.2885 to 1.4339 measuring from 1.3747), then 1.4500. Full Report Here... Trade Idea: USD/JPY - Buy At 92.50 Despite Friday's brief retreat to 92.27, the subsequent rebound partly due to cross-selling in Japanese yen suggests a temporary low has been formed at 91.94 last week and gain towards the Ichimoku cloud top (now at 93.81) is underway, however, only a sustain break there would confirm and bring correction of recent decline to 94.08, then 94.37 50% Fibonacci retracement of 96.80 to 91.94) but resistance at 95.07 should remain intact. Full Report Here... |
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