MARKET HEADLINE: SHORT SELLING BY OCTOBER

FX News
#1
EURUSD, &ldquo Euro vs US Dollar&rdquo

EURUSD has broken the low of the continuation pattern at 1.2195 and right now is still trading downwards inside the third wave with the target at 1.1900. Possibly, today the price may continue trading to the downside to reaching 1.2077. Later, the market may form another consolidation range, break it, and then continue moving downwards to reach 1.1990.

GBPUSD, &ldquo Great Britain Pound vs US Dollar&rdquo

GBPUSD has formed another consolidation range near the lows. Today, the price may break them and then continue trading to the downside to reach the short-term target at 1.3800.

USDCHF, &ldquo US Dollar vs Swiss Franc&rdquo

USDCHF is still moving upwards the target is at 0.9916. After that, the instrument may form another consolidation range. If later the instrument breaks this range to the upside, the market may continue growing to reach 70.00 if to the downside &ndash start another correction towards 0.9750.

USDJPY, &ldquo US Dollar vs Japanese Yen&rdquo

USDJPY is still consolidating around 108.99. Possibly, the price may fall towards the downside border at 108.50 and then resume growing to break the upside one. The target is at 109.80.

By - Fx Street
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#2
INTRADAY BUY  GBP/USD  ABOVE 1.3790: TGT-1.3810-1.3840 : SL – 1.3755

INTRADAY BUY  GBP/CAD  ABOVE 1.7705: TGT-1.7725-1.7755 : SL – 1.7670

INTRADAY SELL GOLD (SPOT)  BELOW 1320: TGT-1317-1312: SL – 1325
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#3
USD/JPY traded higher on Thursday, breaking above the resistance (now turned into support) barrier of 110.45, marked by Tuesday’s peak, as well as the high of the 2nd of February. The pair has been printing higher peaks and higher troughs within an upside channel since the 23rd of March, while today’s move brought the rate above the medium-term downside resistance line taken from the peak of the 6th of November. Having all these technical signs in mind, we believe that the short-term outlook remains positive.

If the bulls manage to stay in the driver’s seat, then we would expect them to aim for our next resistance territory of 111.20, defined by the peaks of the 22nd and 23rd of January. However, we would like to see a move above 111.45, the high of the 18th of January, before we get confident on larger bullish extensions. Such a move could set the stage for the 112.00 territory. Now 1 dollar to yen rate in 110.88
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