Trade Idea Wrap-up: USD/JPY – Stand aside

Dollar’s intra-day selloff after the release of worse-than-expected U.S. ADP data and the brief breach of this week’s low at 80.71 suggests the fall from 82.23 is still in progress, weakness towards previous support at 80.34 cannot be ruled out, however, near term oversold condition should limit downside and reckon

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: EUR/USD – Buy at 1.4310

As the single currency has maintained a firm undertone in part due to dollar’s broad-based weakness after the release of soft U.S. ADP job data, suggesting recent upmove is still in progress and may extend gain to 1.4454 (50% Fibonacci retracement of 1.4940 to 1.3968), however, weakening of near term

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: GBP/USD – Buy at 1.6355

Although intra-day fall from 1.6496 on week UK data signals the decline from 1.6547 top is still in progress and may bring a stronger retracement of recent upmove to 1.6355-60 (38.2% Fibonacci retracement of 1.6055-1.6547) cannot be ruled out, near term oversold condition should limit downside and bring rebound later.

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: USD/JPY – Buy at 80.65

Dollar’s retreat after intra-day rise to 81.07 suggests consolidation would take place, however, downside should be limited and as long as Friday’s low at 80.34 (where a ‘hammer’ was formed) holds, consolidation with mild upside bias remains for another rebound. A break of said resistance at 81.07 would bring another

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: GBP/USD –Sell at 1.6320

As the British pound has rebounded again due to short-covering on back of dollar’s retreat versus other European currencies, suggesting further consolidation above last week’s low of 1.6147 would take place and retracement to the Ichimoku cloud bottom (now at 1.6277) would be seen, however, resistance at 1.6322 should limit

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: USD/CHF – Sell at 0.8905

Dollar’s intra-day selloff has dampened our previous bullishness and signals recent upmove has formed a temporary top at 0.8947 last week, hence consolidation with downside bias is seen for a test of 0.8797-98 (38.2% Fibonacci retracement of 0.8554-0.8947 and Friday’s low), break there would add credence to this view, bring

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: EUR/USD – Stand aside

As the single currency has retreated after failing to penetrate the Ichimoku cloud top, suggesting the recovery from this week’s low at 1.4254 has possibly ended at 1.4423 earlier today and test of yesterday’s low at 1.4270 is likely but break there is needed to confirm the decline from 1.4940

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: GBP/USD –Buy at 1.6415

Although the British pound has retreated from 1.6518, cable’s intra-day rally on hawkish BOE inflation report adds credence to our view that a temporary low has been formed at 1.6270 earlier this week and consolidation with upside bias remains for retracement of recent decline to previous resistance at 1.6544 but

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: USD/CHF – Buy at 0.8710 or sell at 0.8870

Although the greenback has edged higher again in New York session and near term rise from last week’s low of 0.8554 may bring a stronger retracement of recent decline to 0.8869 (61.8% projection of 0.8554 to 0.8815 measuring from 0.8708), loss of upward momentum should limit upside to 0.8890/00 and

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: USD/JPY – Buy at 80.05

As the greenback has retreated after intra-day rise to 80.95, suggesting consolidation with mild downside bias would be seen and test of 80.34-38 (current level of the Kijun-Sen and Ichimoku cloud top) cannot be ruled out, however, as a temporary low has been formed at 79.57 yesterday, downside should be

Trade Idea Wrap-up: EUR/USD – Sell at 1.4680

Despite intra-day brief fall to 1.4457, as the single currency has rebounded on short-covering, suggesting consolidation above this level would take place and retracement to the Kijun-Sen (now at 1.4571) is likely, above would bring correction to 1.4626 (38.2% Fibonacci retracement of 1.4900 to 1.4457) but renewed selling interest should

Trade Idea Wrap-up: GBP/USD –Sell at 1.6570

Despite intra-day marginal fall to 1.6355 (yesterday’s low was 1.6357), lack of follow through selling and the subsequent rebound suggest consolidation would take place and retracement to the Ichimoku cloud (now at 1.6501-09) cannot be ruled out, however, upside should be limited to 1.6540/50 and renewed selling interest should emerge

Trade Idea Wrap-up: USD/CHF – Buy at 0.8680

Despite intra-day post-NFP surge to 0.8800, as the greenback has retreated from there, suggesting consolidation below this level would take place and pullback to 0.8710/20 cannot be ruled out, however, renewed buying interest should emerge above intra-day support at 0.8677 and bring another rally later. Above said resistance would extend

Trade Idea Wrap-up: USD/JPY – Stand aside

Although the greenback has recovered after intra-day selloff to 79.57 and consolidation with mild upside bias is seen for retracement to the Kijun-Sen (now at 80.20), above 80.50 is needed to suggest low is possibly formed and bring test of previous support at 80.70 but break of 81.11-19 (current level

Trade Idea Wrap-up: EUR/USD – Sell at 1.4720

As intra-day selloff has gathered momentum after breaking support at 1.4755 (now turned into resistance), adding credence to our view that top has been formed at 1.4940 yesterday and bearishness remains for retracement of recent upmove to 1.4545/50 (50% Fibonacci retracement of 1.4156 to 1.4940), below would extend weakness towards

Trade Idea Wrap-up: GBP/USD –Stand aside

Although current breach of previous support at 1.6453 confirms the decline from 1.6747 top has resumed and further weakness to 1.6393 (61.8% projection of 1.6747 to 1.6453 measuring from 1.6575) and possibly towards 1.6360 is likely, however, reckon 1.6342 (50% Fibonacci retracement of 1.5937-1.6747) would hold from here due to weakening of downward momentum.

Trade Idea Wrap-up: USD/CHF – Stand aside

Although dollar’s intra-day rally and current break of 0.8674 resistance confirm a temporary low has been formed at 0.8554 yesterday and consolidation with upside bias is seen for retracement of recent decline to 0.8728 (61.8% Fibonacci retracement of 0.8835 to 0.8554) and possibly towards previous resistance at 0.8760, however, near

Trade Idea Wrap-up: EUR/USD – Look to buy again lower

The single currency found renewed buying interest earlier today just above the Ichimoku cloud bottom at 1.4762 and has resumed recent upmove in line with our expectation (our long position entered at 1.4785 met target at 1.4885 with 100 points profit), further gain towards 1.4955/60 (50% projection of 1.4494 to

Trade Idea Wrap-up: GBP/USD –Buy at 1.6665

Although the British pound has rebounded in tandem with euro, break of resistance at 1.6747 (last week’s high) is needed to confirm recent upmove has resumed and extend gain to 1.6790/00 but near term overbought condition should limit upside and reckon 1.6866 (100% projection of 1.6166-1.6600 measuring from 1.6432) would remain intact.

Trade Idea Wrap-up: USD/CHF – Sell at 0.8730

Although the greenback has retreated after intra-day rebound to 0.8697, break of last week’s low at 0.8626 is needed to confirm downtrend has once again resumed and extend weakness to 0.8600 but loss of downward momentum should prevent sharp fall below 0.8565-70 (61.8% projection of 0.8835-0.8626 measuring from 0.8697) and