EUR/USD (1.1905) Market bounced lower but was capped at 1.1860 and pair moved higher again currently holding at the 1.1900 level. Intraday studies are slightly positive however the upside should remain limited for now. On the downside, a break below 1.1850 would see further weakness targeting 1.1780 next. On the upside, a break above 1.1975 would open way to further upside targeting 1.2115 first. Daily studies are positive for the pair however the lack of follow through on the upside calls for caution. We exit our long at break even. Stand aside for now.
USD/JPY (118.33) No change in view, market remains capped in a triangle pattern currently between 118.90 & 118.05. Intraday studies are negative for the pair and another test of the 118.00 level is expected shortly. A break there would see further weakness targeting 117.30 & 116.75. On the upside, a break above 119.00 would see further upside towards 119.35 & 120.25. Daily studies are positive for the pair and another up-leg is favored shortly. Stand aside.
GBP/USD (1.7428) No change in view, market remains capped between 1.7475 & 1.7300. Intraday studies are negative for the pair and another test of the 1.7300 level is not ruled out. A break below 1.7305 would see further weakness targeting 1.7255 next. On the upside, a break above 1.7475 would see further upside towards 1.7520 & 1.7600. Daily studies are positive for the pair however a break above 1.7475 is needed to confirm further positive bias. Stand aside for now.
USD/CHF (1.3121) The downside was limited to 1.3060 and market bounced higher towards 1.3150 which capped further upside. Overall pair is still consolidating between 1.3050 & 1.3150 since. Intraday studies are positive for the pair and further consolidation is expected for now. On the upside, a break above 1.3150 would see another test of the 1.3175 level. On the downside, a break below 1.3025 would see further downside targeting 1.2920 & 1.2830. Daily studies are threatening to turn positive again. Stand aside for now.
AUD/USD (0.7353) Market is still trading sideways between 0.7340 & 0.7450. Pair is currently consolidating above the 0.7340 level however with intraday studies close to oversold levels a break there is not expected for now. On the downside, a break below 0.7350 is needed to see further weakness targeting 0.7300 & 0.7230. On the upside a break above 0.7450 would see further upside towards 0.7480 & 0.7560. Daily studies remain positive for the pair however the lack of follow through on the upside calls for caution. Stand aside.
USD/CAD (1.1491) Market was capped above the 1.1450 level and bounced slightly higher from there. Pair is currently holding below the previous high at 1.1510. Intraday studies are positive for the pair and further consolidation is expected for the time being with 1.1550 expected to limit the upside. Daily studies remain negative for the pair and further weakness is expected to follow towards 1.1400 & 1.1350. Hold short at 1.1500, keep SL tight.
Supports: 1.1450-1.1400-1.1370-1.1350-1.1200-1.1150-1.1100 Resistances: 1.1520-1.1590-1.1615-1.1670-1.1755-1.1770-1.1800 Market direction: Bearish Today's projected high/low: 1.1550-1.1350 Weekly pivot supports: 1.2048-1.1911 Weekly pivot resistances: 1.2390-1.2540 Conservative recommendation: Hold Short 1.1500, SL 1.1560, target 1.1350 Aggressive recommendation: Hold short 1.1500, SL 1.1560, target 1.1350
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