EURUSD,GBPUSD,AUSUSD,USDJPY,USDCHF
EURUSD:Buy @ 1.315 tp @
1.321 & 1.3235
I t remains on the upside for
the moment. The break of 1.3171 resistance should confirm resumption of whole
rise from 1.2042. Current rally from 1.2661 should target 61.8% projection of
1.2042 to 1.3171 from 1.2661 at 1.3359 next. On the downside, below 1.3065
minor support will turn bias neutral and bring consolidations. But retreat
should be contained well above 1.2876 and bring another rally.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 1.2661 support holds
GBPUSD: Buy @1.620 tp @ 1.623
& 1.624
I t remains on the
upside for the moment. As noted before, the break of 1.6174 resistance should
confirm our bullish view that corrective fall from 1.6309 is finished at 1.5827
already. Further rally should now target 1.6309 key resistance next. On the
downside, below 1.6152 minor support will turn bias neutral and bring
consolidations. But retreat should be contained by 1.6001 support and bring
another rally. 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
AUSUSD: sell @ 1.0560 tp @ 1.0505 & 1.048
There is a rebound from
1.0148 as a corrective move only, expect upside to be limited below 1.0624 and
bring another decline. Below .0461 minor support will turn bias back to the
downside, further break of 1.0286 support will target a new low below 1.0148.
However, break of 1.0624 will indicate that rebound from 0.9588 has resumed for
1.0852 resistance.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.
USDJPY: sell @ 84.19 with
targets @ 83.6 & 83.4
Its retreated from 84.32 and with 4 hours MACD
crossed below signal line, intraday bias is turned neutral for some
consolidations. We'd continue to be cautious on reversal signal and usdjpy has
already hit 84.17/85.51 resistance zone.break of 82.83 support is needed to
indicate short term topping first. Otherwise, outlook will stay bullish. Above
84.32 will target 85.51 key resistance.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, we'd expect the downside from
124.13 to resume sooner or later to a new low below 75.56. However, decisive
break of 85.51 will be a sign of medium term reversal and strong rise should
then at least be seen to 55 months EMA (now at 87.42) and above.
USDCHF: sell @ 0.9200 tp @ 0.9135 & 0.911
This pair is remains on the
downside for the moment and the fall from 0.9971 is still in progress for 61.8%
projection of 0.9971 to 0.9214 from 0.9512 at 0.9044 next. On the upside, above
0.9194 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. We'll hold on to this bearish view as long as 0.9512
resistance holds. will be a sign of medium term reversal and strong rise should
then at least be seen to 55 months EMA (now at 87.42) and above.
