By Chuks Obiri
chuks_obiri@yahoo.com
AUD: Price is flirting with the 76200 Significant Resistance Zone, which is the 2nd Feb 2015 lows, of note is the attraction point at 0.76746, right before the 2007 lows @ 0.76989. A potential bearish bat may unfold at the 76200~76746 zone. On the daily chart we see signs of bullish exhaustion.
BIAS: Bearish. Sell @ 76200-76700.
CAD: In a surprise move price pierced the 95/96 lows @ 33231~32527 putting the bullish trend at risk, nevertheless price must trade convincingly below this Zone for us to see the 2008/2009 highs @ 3000/3060 till then we will be closely looking at the minor support @ 32156/31735 to hold the failure of that point (highly unlikely) will open up the 2008/2009 highs.
BIAS: Bearish. Sell @ 76200-76700.
EUR: Possible continuation of the Medium-term Bullish trend, because price is above the 94/Jan 2015 low @ 1.11200. If that support zone holds price should head for the intermediate Highs of 2015 @ 1.14600. In the medium term we look for buys between 1.11560/1.11200
BIAS: Bullish. Buy @ 1.11560/1.11200.
GBP: The Cable is at a defining point. Post-Election Dip below the Swing high in Dec 2016 @ 1.27700 making a low @ 1.26730 which is the Nov 2016 high, will the cable break back above the Dec 2016 highs? Further confirming the Bullish trend or will it find resistance there?
BIAS: Bearish. Sell @ 1.27700~1.27900.
JPY: The retracement of the 2016 rally terminated at the 2006 lows @ 108.726, Price is trading above the 2008 Significant high @ 110.785, will look for buying opportunities from that zone.
BIAS: Bullish. Buy @ 110.785
NZD: Stopped short of the 2005 highs/2011 Nov lows @ 73785 at the medium term support @ 73150, a break above that zone would see price at the 2005 highs, else we go short from there. On the daily price has shown exhaustion signs trading around the medium term R @ 72290. We look at selling from 72600~72400.
BIAS: Bearish. Sell @ 72600/72400.
XAU: FLAT
EURAUD: The Bull rally from March has met Resistance at the 1999 Lows @ 1.5200, we may see price come back to the highs of 2011 @ 1.43900 the medium term support at 1.47166 needs to be violated for that to happen. We look to buy from 1.46560~1.47166.
BIAS: Bullish. Buy @ 1.46560~1.47166.
EURCAD: Nice bearish run as price finds support at the 2003 lows/ July 1997 low @ 1.48150/1.48800, continuous bearish pressure will see price touch the 2008 lows @1.4700. We will look for bullish pressure to pierce price above 1.48150 for a buy trade else we stay flat till 2008 lows.
BIAS: Bullish. Buy @ 1.48150
EURGBP: Bullish rally finding pressure at the 2013 highs of 88170/87700. Price rallying back into the 87700 zone. We look to sell from that region.
BIAS: Bearish. Sell @ 0.87700.
EURJPY: Price trading above the 2003 low @ 124.000 but below the 2004 low @ 125.800. AN obvious bullish trend on the monthly chart. We expect this trend to continue so we look to buy.
BIAS: Bullish. Buy @ 124.000
EURNZD: We expect the bullish trend since the beginning of the year to continue, price is finding support at a medium term S-Zone @ 1.53800 also the 50% fib zone for the bull rally. We will be Initiating a buy from that zone.
BIAS: Bullish. Buy @ 1.53800/1.5400
GBPAUD: Medium term support @ 1.67557. Inverted Head and Shoulders price pattern on the weekly. Look to buy @ 1.66410~1.67557.
BIAS: Bullish. Buy @ 1.66410~1.67557.
GBPCAD: Potential Inverted H&S on the weekly chart. Looking to buy at 1.6700.
BIAS: Bullish. Buy @ 1.6700
GBPCHF: FLAT
GBPJPY: Buy at 141.747 worst case scenario buy @ 140.800
GBPNZD: Buy at 1.75982, Inverted H&S or we wait for a break above 1.76807
AUDCAD: Buy @ 1.00630
AUDNZD: Buy @ 1.0500. In anticipation of the Bullish trend continuation.
USOIL: FLAT
