EUR/USD GBP/USD USD/CHF USD/JPY AUD/USD
USD/JPY—buy
above 82.55 tp @ 82.15 & 82
Sideway consolidation from 82.83 is still in
progress but is likely ending soon. Break of 82.83 will confirm resumption of
recent rise fro 77.13 and should target 84.17. But some resistance would likely
be seen there on initial attempt to bring pull back. On the downside, 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.
EUR/USD--sell
below 1.297 tp @ 1.291 & 1.288.
Pull back from 1.3218 continued and broke 4
hours 55 EMA as expected. While deeper decline might be seen, we'd continued to
expect strong support inside the current 1.2880/3008 support zone to contain
downside and bring rally resumption. Above 1.3126 will target 1.3171. Break
will confirm resumption of whole rally from 1.2042. However, break of 1.2880
will dampen this bullish view and could possibly bring another low below 1.2661
before correction from 1.3171 finishes.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.
GBP/USD—sell
below 1.605 tp @ 1.5985 & 1.596
Neutral for the moment and some consolidations
could be seen below 1.6130. But still, with 1.5988 minor support intact,
rebound from 1.5827 is expected to continue to 1.6174 resistance first. As
noted before, 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. 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.
AUD/USD--sell
below 1.052 tp @ 1.0435 & 1.041
Took
out 1.0489 resistance and edged higher to 1.0515 so far as choppy rise from
1.0148 extended . Outlook remains unchanged. 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 outlook 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.
USD/CHF--buy above 0.9325 tp @ 0.9385 &
0.9425
Recovered
strongly but is still held by 0.9340 minor resistance and outlook remains
unchanged. Fall from 0.9512 is still expected to continue to 0.9214 support. 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.
