EUR/USD
Number
of significant resistances is located in close proximity of the current price -
1.3379, 1.3435 and 1.3487. EUR/USD slowed near the support level
around $1.3341, and formed an ascending triangle pattern on the 30m
chart. The Stochastic indicator is recovering from its oversold area,
which leads to the possible price rebound
GBP/USD
Attempting
to 1.5995, although this break is unlikely to be sustained.
USD/JPY
After
bouncing off 81.83, is now well-placed to retest 83.40, above which the pair
will aim for 85.53 and 86.80. In th e meantime, levels situated at 82.73, 81.97
and 81.83 are expected to provide sufficient support.
USD/CHF
Has violated
a support at 0.9027/16 and may continue to trade lower. In order to negate
bearish pressure the pair will have to close above 0.9066, and then it would
increase the possibility of the price surging beyond 0.9162
My view :- Currencies of countries rich in natural
resources, with the Canadian, Australian, New Zealand dollars being
the most liquid of them), as they are believed to be highly linked to the
movements in physical commodity prices. Triangular relationship between
Euro, Dollar and Swiss Franc: if one goes down, the other goes up.
1 comment:
Post a Comment