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GBP/USD’s extended decline and break of (38.2% retracement of 1.2099 to 1.3787 at 1.3142) suggests that it might have completed a double top pattern (1.3787, 1.3725). Initial bias remains on the downside this week for 61.8% retracement at 1.2744 next. On the upside break of 1.3247 support turned resistance is needed to indicate short term […]

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19/03/2024

EUR/JPY Daily Outlook

Daily Pivots: (S1) 161.86; (P) 162.27; (R1) 162.59; More… EUR/JPY’s rally from 160.20 accelerates higher today and intraday bias stays on the upside for 163.70 resistance. Decisive break there will resume larger rally from 153.15 for 164.29 high. On the downside, below 161.94 minor support will delay the bullish case and turn intraday bias neutral […]
05/11/2024

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 151.59; (P) 152.08; (R1) 152.62; More… USD/JPY is still bounded in consolidation below 153.87 and intraday bias stays neutral. Further rally is in favor with 151.44 support intact. Sustained trading above of 61.8% retracement of 161.94 to 139.57 at 153.39 will pave the way to retest 161.94 high. However, considering bearish divergence […]
09/04/2025

EUR/CHF Daily Outlook

Daily Pivots: (S1) 0.9282; (P) 0.9392; (R1) 0.9492; More…. EUR/CHF’s fall from 0.9660 continues today and intraday bias stays on the downside. Break of 0.9331 support suggests that rise form 0.9204 has already completed as a three-wave correction. Deeper decline should be seen to retest 0.9204 low next. On the upside, above 0.9408 minor resistance […]