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USD/JPY’s rebound from 139.57 extended to as high as 153.18 last week but formed a temporary top there and retreat. Initial bias remains neutral this week for consolidations first. Further rally is in favor as long as 151.18 minor support holds. Sustained trading above 61.8% retracement of 161.94 to 139.57 at 153.39 will pave the […]

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07/12/2023

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2536; (P) 1.2575; (R1) 1.2598; More… GBP/USD’s fall from 1.2731 short term top is in progress. Intraday bias stays on the downside for 55 D EMA (now at 1.2436). On the upside, above 1.2613 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as […]
03/01/2024

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.8308; (P) 0.8585; (R1) 0.8779; More…. Intraday bias in USD/CHF stays neutral at this point. Consolidation from 0.8332 is extending and stronger recovery cannot be ruled out. But outlook will stay bearish as long as 0.8665 support turned resistance holds. Break of 0.8332 will resume larger fall from 0.9243 to 138.2% projection […]
24/10/2024

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2887; (P) 1.2941; (R1) 1.2974; More… Further decline is expected in GBP/USD as long as 1.3070 resistance holds, despite loss of momentum as seen in 4H MACD. Fall from 1.3433 should target 61.8% retracement of 1.2298 to 1.3433 at 1.2732. However, firm break of 1.3070 resistance will indicate short term bottoming, and […]