EUR/USD GBP/USD USD/CHF USD/JPY AUD/USD
AUSUSD—buy above 1.0475 tp @ 1.052 & 1.0545
Rebound from 1.0148 is corrective
looking and even though it might extend, we'd expect strong resistance below
1.0624 to limit upside and bring another decline. Break of 1.0286 will turn
near term bearish for 1.0148 and below.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 AUD/USD through 1.0852 to retest 1.1079 resistance next.
EURUSD—sell below 1.308 tp@ 1.303 & 1.3.
Is mildly on
the downside as retreat from 1.3126 might extend to 4 hours 55 EMA (now at
1.2996) and below. Though, strong support should be seen inside 1.2880/3008
support zone and bring rally resumption. Above 1.3126 will target 1.3171. Break
will confirm resumption of whole rally from 1.2042.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.
We'd now stay bullish as long as 1.25 psychological level holds
USDCHF—buy @ 0.925 tp
@ 0.93 & 0.932
Is neutral and some more
sideway trading might be seen above 0.9240 temporary low. But after all, with
0.93240 resistance intact, fall from 0.9512 is expected to continue to 0.9214.
As discussed before, whole decline from 0.9971 is ready to resume. Break of
0.9214 will confirm this bearish case and target 61.8% projection of 0.9971 to
0.9214 from 0.9512 at 0.9044 next. However, above 0.9340 will suggest that
correction from 0.9214 is going to extend with another rising leg before
completion., 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.
USDJPY—buy @ 82.35 tp @ 82.55 & 82.75
Remains neutral as it's still
bounded in range of 81.68/82.83. On the upside, break of 82.83 will extend
recent rally from 77.13 to 84.17 resistance and above. Though, below 81.68 will
extend the consolidation lower. But in that case, downside should be contained
above 80.67 resistance turned support and bring rally resumption.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.
GBPUSD—buy @ 1.609 tp@ 1.613 & 1.617.
Further rise is still expected in
GBP/USD with 1.5988 minor support intact. Rebound from 1.5827 should target
1.6174 resistance first. As noted before, we're favoring the case that
corrective fall from 1.6309 is finished at 1.5827 already. Break of 1.6174 will
confirm this bullish case and should target another high above 1.6309. We're
continue to stay cautiously bullish as long as 1.5988 support holds even in
case of retreat. However, break of 1.5988 will suggest that another low below
1.5827 would be seen before the correction from 1.6309 completes., 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.
