USDJPY broke sharply higher which was expected
from a technical point of view. Price accelerated strongly after break out of
the corrective channel (circled zone). We can see that price made very strong
move to the upside in a very short period of time; thats clearly a personalty
of an impulse so we think its wave (iii), part of a new five wave rally.
Resistance for this wave (iii) comes in around 95.60-96.15 zone from where we
could see a fourth wave retracement back to 94.60 area. From a larger
perspective it seems that USDJPY is headed back to the highs.
USDCHF Technical Analysis - Sell at 0.9955
USDCHF made a nice bull move from 0.9716 to 0.9990. Then USDCHF drops from over bought zone. USDCHF is trading below its 20 period MA on 4h ...
-
Pivot: 1.2105 Our preference: Long positions above 1.2105 with targets @ 1.2135 & 1.215 in extension. Alternative scenario: Below 1...
-
Pivot: 30.60 Our preference: LONG positions above 30.6 with 31.25 & 31.7 in sight. Alternative scenario: The downside penetration o...
-
GBPUSD is in sharp uptrend for the past two days, which was expected from a technical point of view after five waves down in red wave 5...
