Trade Idea: USD/CHF - Sell At 1.0515 The greenback tumbled to a fresh 2009 low of 1.0432 yesterday and price is still trading well below the Tenkan-Sen, Kijun-Sen and the Ichimoku cloud, suggesting recent decline remains in progress for weakness to 1.0400 and even towards previous chart support at 1.0370. However, oversold condition would limit downside and 1.0339 (50% projection of 1.1967-1.0592 measuring from 1.1026) would hold from here. Read more... Trade Idea: GBP/USD - Buy At 1.6455 The British pound surged to as high as 1.6590 yesterday on dollar's broad-based weakness, suggesting the rise from 1.6113 low is still in progress and may extend to 1.6625 chart resistance, above there would bring headway towards 1.6654 (100% projection of 1.6113-1.6445 measuring from 1.6322), however, upside is likely to be limited to 1.6688 (61.8% Fibonacci retracement of 1.7044 to 1.6113) and bring retreat later. Read more... Trade Idea: EUR/USD - Buy At 1.4435 As the single currency traded narrowly after rallying to 1.4535 yesterday, suggesting minor consolidation would take place but downside should be limited to the Tenkan-Sen (now at 1.4432) and bring another upmove, above said resistance would extend towards 1.4590/00, however, overbought condition would limit upside to 1.4646 (61.8% projection of 1.2885-1.4339 measuring from 1.3747) and risk from there has increased for a retreat later. Read more.... Trade Idea: USD/JPY - Exit Long Entered At 92.30 Although the greenback has recovered after falling to 92.04 yesterday, dollar’s broad-based weakness versus European currencies suggests downside risk remains for a retest of recent low at 91.94, however, only break there would signal recent decline has resumed and extend weakness to 91.73, then 91.20/30 before prospect of another rebound. Read more... | 
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