short GBPUSD @ 1.2995 for a target below horizontal support.
Cable has a lot of downside potential and if the dollar gets cracking then it would be easy to see 1.29.
EURJPY has been holding these levels for a while now but clearly the desire to push higher has abated and its look it will take out the wedge below.
So I would be looking to short at a break below 130.50 with a stop at 1.3150 and targeting 1.27.
It is NFP day so lets see what happens today
usdchf seems to be the only pair bucking the trend. If the pair is rally so much when dollar is weak, what happens to it when dollar starts moving.
I would go long at that TL and a stop below the recent low and the horizontal support.
Target parity, its not too much to ask for is it. ?
Very critical resistance here. Also cable has not been as strong as the euro. MPC meeting coming up and it will provide us with a clear direction.
As of now its a low risk high reward setup
With RBA tomorrow Audnzd seems to have retraced all of its earlier losses from Asian trading. Selling here AT 1.0657 with a 30 pip stop makes a good RR before RBA tomorrow.They are definitely not going to be pleased with aussie strength tomorrow.
We have clearly broken out of that triangle with the TL above the pre-Brexit levels.
Looking to go long @ 1.2960 with a stop @ 1.2850 and a target of 1.3150
I know its ECB day but with the short EUR trade the RR is so fantastic today that it definitely makes sense to trade this one.
Shorting EURJPY here @ 129.12
Stop at 129.52
Targeting 127
Let the games begin . I will be sitting with trigger ready and might pull it off early if we get a decent exit during the statement or the presser.
The way dollar has been behaving it looks like its going down big time.
Looking to sell USDCHF on the break of .96 with a stop on top of the triangle and targeting a move below previous lows in .9580 zone
We are at important 4 channel support here on Cable alongwith 50% fib of the recent move. This is a decent area which should hold.
Long GBPUSD @ 1.2817 target 1.29
Stop @ 1.2787
If we have a daily close above this trendline then USDJPY will be a great long. Yields are rising, only question would be stocks. If they fall then USDJPY can reverse quickly.
Target idea to enter Long @ 113 on a daily close above the TL.
Profit area 116
Stops 112.80
Cable has been a stronger performer. In the long run it still have upside potential, however at this moment, it seems to be overdone here. The price action suggests that it will definitely go for a stop hunt post brexit highs.
So I would short @ 1.3060-70 with a 30 pip stop and target 1.29
