USD/CHF Mid-Day Outlook

USD/CAD’s strong rebound suggests short term bottoming at 1.3176, on bullish convergence condition in 4H MACD. Despite some loss of upside momentum, further rally is in favor this week as long as 1.3286 minor support holds, to 38.2% retracement of 1.3897 to 1.3176 at 1.3451. Firm break there will pave the way to 61.8% retracement […]

Daily Pivots: (S1) 0.8424; (P) 0.8439; (R1) 0.8460; More… Intraday bias in EUR/GBP remains neutral and consolidation from 0.8399 could extend further. But upside should be limited by 38.2% retracement of 0.8624 to 0.8399 at 0.8485. On the downside, break of 0.8417 minor support will turn bias to the downside for 0.8399 support, and then […]

USD/JPY’s up trend resumed last week by breaking through 151.93 resistance. But it retreated after hitting 153.37. Initial bias is neutral this week for some consolidations first. Outlook will stay bullish as long as 150.80 support holds. Above 153.37 will target 155.20 fibonacci projection level next. In the bigger picture, current rise from 140.25 is […]