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Daily Pivots: (S1) 143.16; (P) 144.08; (R1) 144.61; More… Range trading continues in USD/JPY and intraday bias remains neutral. While rebound from 139.87 could extend higher, near term outlook will stay bearish as long as 38.2% retracement of 158.86 to 139.87 at 147.12 holds. Break of 141.96 support will argue that the rebound has completed […]

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16/10/2024

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.8606; (P) 0.8623; (R1) 0.8638; More… USD/CHF’s rise from 0.8374 is in progress and intraday bias stays on the upside for 38.2% retracement of 0.9223 to 0.8374 at 0.8698. Sustained break there will argue that fall from 0.9223 has completed after defending 0.8332 low. Further rally should be seen to 61.8% retracement […]

USDJPY Faces a Pass or Fail Test

USDJPY extends consolidation around August’s bar Technical signals weaken, cannot warrant a bullish trend reversal US retail sales, jobless claims due on Thursday at 12:30 GMT USDJPY reached a two-month high of 149.96, but it couldn’t hold its strength above the 200-day exponential moving average (EMA) at 149.40 on Tuesday. Over the past few days, […]
29/10/2024

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2940; (P) 1.2971; (R1) 1.3001; More… GBP/USD is still bounded in consolidation above 1.2906 and intraday bias stays neutral. Further decline is expected as long as 1.3070 minor resistance holds. Below 1.2906 will target 61.8% retracement of 1.2298 to 1.3433 at 1.2732. However, considering bearish divergence condition in 4H MACD, firm break […]