EURUSD,GBPUSD,USDJPY,AUSUSD,USDCHF
EURUSD: buy above 1.3035 tp@ 1.3125 & 1.314
Aususd from 1.0148 could extend higher but it's nonetheless viewed as a corrective rally. And, we'd expect strong resistance below 1.0624 to limit upside and bring another decline. Below 1.0461 minor support will turn bias back to the downside, further break of 1.0286 support will target a new low below 1.0148.price actions from 1.1079 high are treated as a consolidation pattern in the larger up trend, in form of a triangle. Fall from 1.0624 is viewed as the last leg inside the pattern and could extend lower. But downside of the fall from there should be contained above 0.9588 and the larger up trend is ready to resume soon. Break of 1.0624 should send aususd through 1.0852 to retest 1.1079 resistance next
EURUSD: buy above 1.3035 tp@ 1.3125 & 1.314
Eurusd rise from 1.2876 is still in progress and
intraday bias remains on the upside for 1.3126/38 resistance zone. As noted
before, we remain bullish that correction pattern from 1.3171 is already
completed at 1.2661. Break of 1.3126/38 will target 1.3171 key resistance and
break will confirm resumption of whole rally from 1.2042. We'll stay cautiously
bullish as long as 1.2876 support holds, even in case of retreat.fall from
1.4939 is treated as a falling leg inside the consolidation pattern that
started at 1.6039 (2008 high). Such decline should have completed at 1.2042
already. Break of 1.3486 will confirm and should pave the way to 1.5
psychological level in medium term. now stay bullish as long as 1.25 psychological
level holds.
GBPUSD: sell below 1.615 tp @
1.61 & 1.608.
Gbpusd retreated ahead of 1.6174 resistance and
intraday bias is turned neutral first. But another rise is still expected as
long as 1.6001 support holds. Break of 1.6174 resistance will confirm our
bullish view that corrective fall from 1.6309 is finished at 1.5827 already and
target a new high above 1.6309.price actions from 1.3503 (2009 low) are treated
as consolidations to long term down trend from 2.1161, no change in this view.
There are various interpretations on the pattern from 1.3503 but after all, as
long as 1.5234 support holds, such consolidation would extend. On the upside,
sustained break 1.6300 will likely bring further rise to 1.7043 and above to
extend the consolidation pattern.
USDJPY: buy above 83.45 tp@
84.2 & 84.4
usdjpy rises further to as
high as 83.96 so far today and intraday bias remains on the upside for 84.17
resistance next. We'd be cautious on topping signal after USD/JPY breaks this
resistance. But sustained break there will target key long term resistance level
at 85.51. On the downside, below 83.24 minor support will turn bias neutral
first. Though, break of 81.68 support is needed to indicate near term reversal.
Otherwise, we'll stay bullish even in case of retreat.rise from 77.13 is viewed
as a leg inside the consolidation pattern from 75.56. Such rally could extend
to 84.17 and above. But after all, there is no clear indication of long term
trend reversal yet. As long as 85.51 resistance holds, expect the downside from
124.13 to resume sooner or later to a new low below 75.56.
AUSUSD: buy above 1.0505 tp @ 1.0585 & 1.06
Aususd from 1.0148 could extend higher but it's nonetheless viewed as a corrective rally. And, we'd expect strong resistance below 1.0624 to limit upside and bring another decline. Below 1.0461 minor support will turn bias back to the downside, further break of 1.0286 support will target a new low below 1.0148.price actions from 1.1079 high are treated as a consolidation pattern in the larger up trend, in form of a triangle. Fall from 1.0624 is viewed as the last leg inside the pattern and could extend lower. But downside of the fall from there should be contained above 0.9588 and the larger up trend is ready to resume soon. Break of 1.0624 should send aususd through 1.0852 to retest 1.1079 resistance next
USDCHF: sell below 0.925 tp@ 0.9215 & 0.9195
usdchf drops to as low as 0.9209 so
far today and the break of 0.9214 support indicates that whole decline from
0.9971 has resumed. Intraday bias remains on the downside and current fall
should now target 61.8% projection of 0.9971 to 0.9214 from 0.9512 at 0.9044
next. On the upside, above 0.9275 minor resistance will turn bias neutral and
bring consolidations. But recovery should be limited below 0.9382 resistance
and bring another fall.medium term rebound from
0.7065 is viewed as a corrective move and should have completed after hitting
0.9916 resistance (61.8% retracement of 1.1730 to 0.7065 at 0.9948). Deeper
decline is expected to 38.2% retracement of 0.7065 to 0.9971 at 0.8861 on break
of 0.9214. We'll hold on to this bearish view as long as 0.9512 resistance
holds.
