GBPUSD seen breaking the key 1.305 level. Market is preping for a big move towards the high we seen last week at 1.312. Risk includes GDP figures releasing tomorrow.
Technical factors favours medium-term downside. Fundamentals: Inflation in UK is now slowing down given the exhange rate has been recovering from its lowest point. The lastest retail sales was likely a one-off thing due to seasonal purchases. Also, given how GBP is quite overvalued now possibly due to weaknesses in the dollar, the only downside to this trade is...
NZD has been running high for the past weeks and has just broken recent support. This call for a possible medium-term downside for the pair correction. Target: 0.720618
Target: 0.762356. AUDUSD 0.20% has seen some strength pushing upwards yet again. I believe this should also be supported by gold 0.51% which bounced off its major support. Base on this AUDUSD 0.20% may see a retest of its highs back couple of weeks ago at 0.762356.
Short USDCAD, Target: 1.3110. Technical factor favours more medium-term downside before any bigger upside correction. Risks include upcoming BoC -2.42% meeting and GDP releases in the next few days.
Long EURUSD, supported by two fundamental theme. US inflation is likely to continue to be under-pressured from renew selling pressure in Oil. Meanwhile, Eurozone economic conditions are improving consistently which may lead to ECB revision of their accomodative policy, first by planning to taper down QE. The two differences in fundamentals will likely see EURUSD...