USD/JPY surged to as high of 112.47 last week and break of 110.08 confirms that bullish trend resumption. It is expected to reach 114.19 (100% projection of 101.08 to 110.08 form 105.19) and 117.93 (Oct 2007 high). Minor support is around 111.80. On the downside break below will target 111.10 (23.6% retracement of 105.19 and 112.97) and 110.15. Trend reversal only...
As per analysis EUR/USD Target 1 achieved (1.2500). It has broken 1.2500 (Oct 3 rd low) and further selling is expected in the coming days.
USD/CHF has taken support at 0.9540 (38.2% retracement of 0.9299 and 0.9680) and has recovered from that level. Short term trend reversal can happen only below 0.9539. Minor resistance is around 0.9620. Any indicative break above would extend gain till 0.9688/0.9838(138% projection of 0.9334 to 0.9688 from 0.9358). Recommendation: Buy USD/CHF around 0.9620, SL...
USD/CAD made a low of 1.1640 and has recovered from that level. Intra day trend reversal can happen only below 1.1160. Any indicative break below would extend loss to 1.1120/1.1080. Intraday resistance is around 1.1250. On the upper side break above would target 1.1278. Recommendation: Buy USD/CAD around 1.1180, SL 1.1158, Target 1.125/1.1280.
NZD/JPY has broken major resistance 87.41 (Cloud top) and up side till 88.53(Trend line joining 89.66 and 88.95) cannot be ruled out. Minor support is around 86.90 (200 day MA). On the downside any break below will target 86.27. Short term trend reversal only below 86. Recommendation: Buy NZD/JPY around 87.45-50, SL 86.90, Target 88.50.
Intra day trend-bullish USD/JPY has broken major resistance at 110.08 (Oct 1st high) and is expected to trade higher in the coming days. An indicative break would extend gain to 111.60 (50% retracement of 147.66 and 75.55). Minor support is around 110( resistance turned into support) and any break below will target 109.60/109.15. Recommendation: Buy USD/JPY...
As per our analysis USD/CAD has broken 1.1190 and has made a low 1.11642.It is taking strong support at 1.116. Any further weakness can be seen only below 1.116. So it is good to book profit in the short position initiated around 1.1190.
USD/CHF has broken short term resistance around 0.9600 and is expected to reach 0.9688 (Oct 5th high). Intraday major support is around 0.9560 and weakness can be seen only below that level. Any indicative break below 0.9560 would extend loss to 0.9539/0.9470. Recommendation: Buy USD/CHF around 0.9580, SL 0.9560, Target 0.9625/0.9688
USD/CAD has made a high of 1.1239 and is retreating from this level. Intra day trend reversal can happen only above 1.1250. Minor support is around 1.1190. Any indicative break below would extend loss to 1.1160/1.1121. Minor resistance is around 1.12050. Recommendation: Sell USD/CAD around 1.1190, SL 1.1205, Target 1.116/1.1121.
EUR/USD has broken major support 1.2605 and is expected to show further weakness in the coming days. On the downside break below will target 1.2500/1.2470 in the short term. Minor resistance is around 1.2630. Any indicative break above would extend gain to 1.2660/1.2680. Short term trend reversal only above 1.2750 (Cloud bottom). Recommendation: Sell EUR/USD...
AUD/USD is trading near major resistance 0.88975 (Oct 9th high) and any break above will confirm the bullish trend. Any indicative break of 0.88975 would extend gain to 0.8930/0.9005. Minor support is around 0.8860 (resistance turned into support) and any break below will target 0.883/0.880. Recommendation: Buy AUD/USD around 0.880, SL 0.886, Target 0.8930/0.9005.
USD/CAD has broken major short term support 1.11830 (Oct 22nd low) and is expected to show free fall in the coming days. On the downside break below 1.1180 will target 1.11350 (50% retracement of 1.08858 and 1.13842) and 1.108 (Oct 9th low). Minor resistance is around 1.1207 (Kijun-Sen) and break above will target 1.1220/1.1254. Recommendation: Sell USD/CAD around...
GBP/USD has broken major resistance 1.6150 (neckline of inverted head and shoulder) and is expected to trade higher in the coming days. An indicative break of 1.6150 would extend gain to 1.6200/1.6226. Minor support S1 is around 1.6070 (trend line joining 1.58736 and 1.59935) and break below will target 1.6025 (Cloud bottom)/1.59935 (Oct 23rd high). We prefer to...
USD/CHF has broken short term support at 0.9470 (Oct 9th low). On the downside break below will target 0.9396/0.9358 (Oct 15th low). Minor resistance is around 0.9500.Any indicative break above would extend gain to 0.9520/0.9561. Short term trend reversal only above 0.9561. Recommendation: Sell USD/CHF around 0.9462-65, SL 0.9501, Target 0.9400/0.9358.
USD/JPY has taken support at 107.59 (23.6% retracement of 105.18 and 108.34) and recovered from that level. Trend reversal only below 107.58. Overall trend is bullish and is expected to go up to 110.08 (Oct 1st high). It is good to buy around 108-108.10, SL 107.58, Target 110.08
AUD/NZD has taken support near 1.11345 and has recovered from that level.Major support is around 1.11260. Any indicative break below would extend loss to 1.1102/1.090. Minor support is around 1.11580. Minor resistance is around 1.1200. On the upper side break above will target 1.1227 (23rd Oct high). Recommendation: Buy AUD/NZD around 1.1170, SL 1.11580, Target 1.1227.
Short Term Trend -Bullish EUR/USD should break 1.2605 (Oct 10th low) to confirm that the rebound from 1.2501 has ended at 1.2887. Break below 1.2605 will target 1.2500 (Oct 3rd low) and 1.2470 (61.8% projection of 1.36697 and 1.2858 from 1.2994). Short term resistance is around 1.2752 (61.8% retracement of 1.2840 and 1.2614). On the upper side indicative break of...
According to our analysis GBP/USD has made a high of 1.6145 and is currently trading at 1.6143. Overall trend is slightly bullish and is expected to reach 1.6183 (our 2nd target). Short term weakness can be seen only below 1.6080.