EUR/CHF fall from 0.9485 continued last week and hit 0.9193 before recovering. Initial bias is turned neutral this week for some consolidations first. Further decline is expected as long a s0.9285 resistance holds. Below 0.9193 will target 61.8% retracement of 0.8979 to 0.9485 at 0.9172. However, firm break of 0.9285 will turn bias to the…
EUR/AUD’s down trend resumed by breaking through 1.5951 last week. Initial bias stays on the downside this week for 100% projection of 1.6334 to 1.5951 from 1.6264 at 1.5881. Firm break there will target 161.8% projection at 1.5644. On the upside, above 1.6004 minor resistance will turn intraday bias neutral again first. In the bigger…
TL;DR: Three markets are converging on decisive levels at once: Brent crude is testing $120 resistance on Middle East supply risk, the US 10-year yield is holding near 5% as inflation and growth fears compete, and Nasdaq is barely clinging to 25,803 support on AI-financing concerns. With the Fed, GDP, PCE and Big Tech earnings…
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EUR/GBP’s decline continued last week and outlook is unchanged. Initial bias remains on the downside this week for 100% projection of 0.8728 to 0.8453 from 0.8611 at 0.8336. Firm break there will target 138.2% projection at 0.8231. On the upside, above 0.8393 minor resistance will turn intraday bias neutral and bring consolidations first, before staging…
EUR/JPY resumed by breaking through 176.19 last week. Initial bias stays on the downside this week with focus on 175.26/41 support zone. Strong rebound from there, followed by firm break of 177.95 resistance will indicate short term bottoming. However, sustained break of 175.26/41 will carry larger bearish implications. Next target is 100% projection of 186.00…
GBP/JPY rose to 211.96 last week but retreated since then. Initial bias remains neutral this week first. On the downside, break of 208.34 support will extend the larger decline through 206.85 to 206.10 key fibonacci level. On the upside, above 211.96 will resume the rebound from 206.85. In the bigger picture, price action from 219.56…
USD/CAD’s fall from 1.4298 continued last week and met 38.2% retracement of 1.3730 to 1.4298 at 1.4081 already. Initial bias stays on the downside this week, sustained break there will target 61.8% retracement at 1.3792 next. On the upside, above 1.4080 minor resistance will turn intraday bias neutral first. In the bigger picture, current development…
AUD/USD’s strong rebound last week indicates short term bottoming at 0.6893. With late breach of 0.7035 temporary top, initial bias is back on the upside. Sustained break of 38.2% retracement of 0.7237 to 0.6893 at 0.7024 will argue that fall from 0.7237 has completed, and target 61.8% retracement at 0.7106. On the downside, below 0.6986…
USD/CHF’s fall from 0.8394 extended to 0.8190 last week but recovered. Initial bias is turned neutral this week first. Below 0.8190 will target 38.2% retracement of 0.7603 to 0.8394 at 0.8092. On the upside, above 0.8629 minor resistance will turn intraday bias back to the upside for stronger rebound. In the bigger picture, rise from…