TECHNICALS

TECHNICAL RECOMMENDATIONS

 

GBP/AUD: SELL anything around 1.6200

I have a bias in shorting this pair. For 3 days, we have a chance shorting this around 1.6175-1.6200 and can make a profit. In longer run, target 1.5850 at least.

 

EUR/USD: Range 1.3650 - 1.3925

today's bounce from low put the down trend less dangerous. But only 1.4000 breach, then up trend can resume. At present, range trading.

 

GBP/USD: Range 1.56285 - 1.5825

A significant move lower overnight broke recent daily range support around 1.5750 and shorts were suggested, target first 1.5650. The daily studies support shorts, heading lower with room to extend, so my bias remains down and I look to reset short at around 1.5800

 

USD/JPY: Range: 80.60 - 82.05

 Daily studies are mixed and this reflects the tighter more congested nature to price action over the last four sessions. On balance a sell again but our triggers are just away from market at present. I do not recommend trading in this pair at the present moment.

 

AUD/USD: Range 0.9650 - 0.9825

Come to a consolidating stage and strategy is range-trading with above range.

 

AUD/NZD: Range 1.2980 - 1.3150

The daily studies are bearish, edging lower from overbought levels, but the tightening Bollinger bands favour range trading. I suggest stay with the strategy of trading the 1.2980/1.3150 range.

 

Victor Ho