As the greenback is still under pressure after falling sharply from last Friday’s high at 1.0224, suggesting the recovery from 1.0035 has ended there and our bearishness remains for a retest of recent low at 1.0033, once this level is penetrated, this would confirm medium term downtrend has finally resumed…
Trade Idea: EUR/USD – Buy at 1.4900
As the single currency maintained a firm undertone after rising to an intra-day high of 1.5000, suggesting the correction from 1.5049 has possibly ended there and our bullishness remains for a test of this level, then to recent high of 1.5064. Looking ahead, a breach there would confirm the medium…
Trade Idea: USD/JPY – Sell at 90.00
As dollar has continued to edge higher after finding support at 88.57 today, suggesting further consolidation would take place and above the Kijun-Sen (now at 89.06) would bring correction to the Ichimoku cloud bottom (now at 89.45), however, upside should be limited to the upper Kumo (now at 89.79) and…
EUR/USD Mid-Day Outlook
EUR/USD’s rebound from 1.4801 is still in progress and at this point, intraday bias remains on the upside for a test on 1.5047/5061 first. As noted before, the corrective structure of price actions form 1.5047 to 1.4801 suggests that it’s mere consolidation rise from 1.4626 only. Break of 1.5061 will…
GBP/USD Mid-Day Outlook
GBP/USD’s recovery from 1.6459 extends further and some more rise might still be seen considering that an intraday low is already in place. Nevertheless, risk will remain on the downside as long as 1.6875 resistance holds. A short term top is in place at 1.6875 already. Below 1.6459 will bring…