Euro/$ : Major Trend:Dwn-Tgt10800-10750 Although the shape of the current congestion looks bullish, the market still need to clearly break and close above 12175 to confirm breakout validity and clear the way toward 12485 . Congestion bounds are 12175 and 12000-11980 area. A clear break and close below 11980 will open window for further decline toward 11875-11850 and put the last breakout in jeopardy.
British Pound/$ : Major Trend:Dwn-Tgt 159-157 The market still in trading range with 17900 key resistance level. A clear break and close above 17900 will clear the way toward 18500-18600.In the downside, the 17525 is a key level, if broken, it will open window to test 17355.
$/Japanese Yen : Major Trend:Dwn-Tgt 103 The 11620 still the upside key level , a clear break and close above this level will indicate that there is no enough momentum for the downside and a correction toward 11820-11850 should take place. In the downside, a drop below 11450 will push the market down to retest 11340.A close below 11300 will clear the way toward 10875.
$/Swiss Franc : Major Trend:Up-Tgt 146-147 The downside breakout validity still in question until the market clearly close below 12660 to re-accelerate to downside momentum. Meanwhile, the current trading range could reach 12950 which is a crucial resistance level, A clear break and close above it will open window to test 13075.
Disclaimer: All information on this web site is subject to change. The use of this web site constitutes acceptance
of our user agreement. All publisher financial articles at
FXtree.com are those of the individual authors and do not represent trading recommendations
of FXtree.com or its staff.