USDCHF: Our broader outlook on USDCHF remains lower. The pair is now seen challenging the 0.8897 level, its 2011 low where a decisive break will resume its long term downtrend. Guest post by www.fxtechstrategy.com This will set the stage for more weakness towards its psycho level at the 0.8800 level with scope for further price extension … “USDCHF: Set To Resume Long Term Downtrend”
Category: Opinions
Cable targeting 1.6500
Cable reversed early this week from 1.64 resistance level after a nice clear five sub-waves within an extended wave 3. As such, a wave 4 pull-back occurred, which in fact already appears complete around 1.6200 support from where pair bounced back above 1.6320 uptrend confirmation level. Guest post by Gregor Horvat Notice that wave 4 … “Cable targeting 1.6500”
GBPUSD: Maintains Sideways Range
GBPUSD: The pair continues to hold and trade within its sideways trading range after bull pressure faded and saw it returning into that range on Tuesday. On further weakness, the pair should target the 1.6149 level and then the 1.5964/35 levels. Guest post by www.fxtechstrategy.com Below there will bring the pair out of its range and … “GBPUSD: Maintains Sideways Range”
Obama’s fiscal epiphany unlikely to reverse dollar downtrend
The news that President Obama’s address to the nation today will outline a more comprehensive plan for dealing with the country’s chronic fiscal obesity has failed to turn the tide of negativity towards the greenback over recent days. Encouragingly, the White House seems to be finally embracing the need for drastic policy action, including meaningful … “Obama’s fiscal epiphany unlikely to reverse dollar downtrend”
EURGBP: Clears The 0.8852 Level, Eyes More Strength
EURGBP– With a clearance of the 0.8852 level now seen, further upside risk is now building up towards its Oct 25’2010 high at 0.8940 level where a break will resume its long term uptrend. Guest post by www.fxtechstrategy.com This will set the stage for more strength towards the 0.9000 level, its big psycho level where the … “EURGBP: Clears The 0.8852 Level, Eyes More Strength”
AUDUSD: Bullish Momentum Set To Extend
AUDUSD: The broader outlook for AUDUSD remains higher as it looks to build more strength following its strong performance the past week.With another key psycho level at the 1.0500 level violated, risk of further upside pressure should continue as a new week begins. Guest post by www.fxtechstrategy.com In such a case, the 1.0600 level will be … “AUDUSD: Bullish Momentum Set To Extend”
EUR/USD Targeting 1.50 Psychological Level
Euro extended its gains in the past week against the US dollar after the ECB increased the interest rates. Pair broke through highs from Nov 2010, but even more importantly, it also moved above the falling trend line connected from 2008 highs. Guest post by Gregor Horvat As such, the bullish uptrend remains fully in … “EUR/USD Targeting 1.50 Psychological Level”
GBPJPY: Bear Pressure Set To Extend Further (Week Ahead)
GBPJPY – With a follow through higher seeing GBPJPY breaking and closing strongly above the 135.47 level, its Feb 18’2011 high. It now looks to target its psycho level at 140.00. While price hesitation on an initial test of that level cannot be ruled out, its eventual break will set the stage for further strength … “GBPJPY: Bear Pressure Set To Extend Further (Week Ahead)”
AUD/USD – Too Good To Be True?
AUD/USD closes the week at 1.0560, breaking every record, every resistance line and also gravity on the way. There are many good reasons for a stronger Aussie. Here’s a nice list of 5 major factors. There may be even more. But there are signs that the pair is running out of air. Will we see … “AUD/USD – Too Good To Be True?”
EURUSD: Resumes Long Term Uptrend, Eyes Further Upside Gains.
EURUSD: EUR has resumed its long term uptrend after rallying back above the 1.4266/79 levels, its key resistance level in early morning trading today. A firm hold above that level on a weekly closing basis will build a base for further strength towards the 1.4576 level, its Jan 2010 high. Guest post by www.fxtechstrategy.com Above … “EURUSD: Resumes Long Term Uptrend, Eyes Further Upside Gains.”