Hello ET community. Hope you all are having great weekend. I think thereâs no need to quote past week comment I posted and preview last week, as all went wrong and I barely watched the market after I saw the way things went. But I did not waste that time, and tried to improve some techniques and tested couple things on history. In the end, I did not come up with anything new, but lets say it was still very useful. Ok, now lets go one by one with our currency pairs.
EURUSD Picture is mixed, but still very possible we see the reversal upside here. At the moment seems like 1.12 area is something dollar cannot overcome. I donât rule out the chance we get a break through recent lows, and in that case first level would be 1.1020 followed by 1.0780. It doesnât look like very possible scenario, but still. In case we see the bottom here, I think we may target +1.16 on this attempt to go up. As I see, there is more room to go up than down, so up move is something I would like to see in order to go long here targeting +1.16. But in case it goes down, all I need to see is a close below 1.11 â and I sell. So I may trade both up and down. But it can take some time and not happen at the beginning of the week. Whatever market will show, we follow.
GBPUSD Buy is what I see here, and I will be buying cable in case things donât change dramatically after Monday trading. I still need to see the Monday action. Of course, first target is 1.6270. Next target can be 1.6345 and more. But first letâs see it really going up. Still, in case we are back on selling, I think cable has much more room: 1.5920, the low of 1.58 and in case that is also broken, all the way to 1.5650 is open. Will wait and see.
USDCHF Very possible sell here. Inability to go higher is what should put USD under pressure. Targets: 1.3450, 1.3270, 1.3125. I think these are levels that can be reached on this attempt to go down. This pair can show nice decline.
I have to appologize, but the rest will come a bit later.
Meanwhile, let me wish you all the best,
Rezo.
EURUSD Picture is mixed, but still very possible we see the reversal upside here. At the moment seems like 1.12 area is something dollar cannot overcome. I donât rule out the chance we get a break through recent lows, and in that case first level would be 1.1020 followed by 1.0780. It doesnât look like very possible scenario, but still. In case we see the bottom here, I think we may target +1.16 on this attempt to go up. As I see, there is more room to go up than down, so up move is something I would like to see in order to go long here targeting +1.16. But in case it goes down, all I need to see is a close below 1.11 â and I sell. So I may trade both up and down. But it can take some time and not happen at the beginning of the week. Whatever market will show, we follow.
GBPUSD Buy is what I see here, and I will be buying cable in case things donât change dramatically after Monday trading. I still need to see the Monday action. Of course, first target is 1.6270. Next target can be 1.6345 and more. But first letâs see it really going up. Still, in case we are back on selling, I think cable has much more room: 1.5920, the low of 1.58 and in case that is also broken, all the way to 1.5650 is open. Will wait and see.
USDCHF Very possible sell here. Inability to go higher is what should put USD under pressure. Targets: 1.3450, 1.3270, 1.3125. I think these are levels that can be reached on this attempt to go down. This pair can show nice decline.
I have to appologize, but the rest will come a bit later.
Meanwhile, let me wish you all the best,
Rezo.