chuks obiri
chuks_obiri@yahoo.com
AUD/USD: Price found Resistance @ 0.7700 the 1995 High, (a major price level from the July Lows of 2009), we anticipate that this is a resumption of the correction, we may see price look for Oct 2006 Lows @ 0.7420, price is right now at the 0.76200 Key area, a break of that zone would likely see the October 2006 Lows.
Price Action for last week portends further weakness in the AUSSIE.
BIAS: Bearish
USD/CAD: Price is currently above the lows of 95/96 @ 1.32500. We expect to see further weakness in CAD. We expect price to look for the 1.3600 area in the coming week. We will be looking for buying opportunities @ 1.33231/ 1.33555 or 1.3400 especially the 1.3400. Meaning a clear break and retest is needed for us to trade the 1.3400 area.
BIAS: Bullish
EUR/USD: Price is finding resistance @ the August 2003 Major Lows, In the coming days we expect to see that price zone hold resistance, Just like it did through-out the week. We will be looking for an opportunity to go short from the 1.08200 area in anticipation of price looking for the 1.0700 area.
BIAS: Short
USD/CHF: Buy @ 0.98744, looking for 0.99500
BIAS: Long.
GBP/USD: Price ran into an intermediate Resistance @ 1.25100. We may see a retracement from this zone or a further up-thrust into the 1.25600 area before a decline, an alternative scenario is for a break below 1.24700, a retest will see further pressure come in on the cable. Not forgetting that this week is LISBON ARTICLE 50 TRIGGER WEEK.
BIAS: Short
USD/JPY: Price is above the 2008 high @ 110.800, Probable resumption of the uptrend. Alternative scenario (highly unlikely) a break below 110.800 should see 109.900, before the bull continuation. Look for Buying opportunities at 110.800 area.
BIAS: Long.
NZD/USD: Price is below the Feb 2004 Highs @ the 0.71100 area. We anticipate that price may look for the 0.6800 area. We look for short opportunities at 0.7110/ 0.70500 or 0.69700 area.
BIAS: Short
EUR/AUD: Strong rejection from the 2015 lows @ 1.37100. Price is currently above the October 2011 highs @ 1.4100. We will be looking for buy opportunities @ 1.41450/1.4100.
BIAS: Long
EUR/GBP: Price is trading above the August 1996 High @ 0.85900. We want to see a clear break of 0.86500, for further up-push in prices. We look for either a break and retest of 0.86500 or a retest and bounce of the 0.85900 area.
BIAS: Long
EUR/JPY: Price rejecting from the 2011 high @ 122.866 and also rejecting from the 1997 low of 121.00. Price is expected to stay above the 119.800 support zone. We will be looking for buying opportunities around this zone. Retest of 119.800 or Break and retest of 120.250.
BIAS: Long
GBP/AUD: Price is above strong support @ 1.61250. There is a resistance @ 1.63700. Clear break of 1.63700 and retest should see prices run down alternative scenario. A clear break above 1.63700 should see a bull rally.
BIAS: Short
GBP/CAD: Resistance at 1.6700 which happens to be the 2009 lows, We expect the cable to weaken against the Loonie, A clear break below this zone and we move on to 1.65900.
BIAS: Short
GBP/JPY: Resistance @ 139.00, a bounce at 138.500 or clear break and retest of 139.00 should see prices inch or head higher.
BIAS: long.