Price action today is suggestion the upside on Cruel Oil is losing momentum. Hence, stays short as far as price is below 96.85, a fall to 89 is expected on WTI Futures.
Strategy; short 95.76, Stop @ 99. Target 89
GBP/USD snap back bounce at this hour is not changing the overall bearish tone off the recent top, but clearly the shorts have stepped back for now. Cable could try to extend the bounce to the 1.5500 level before the action starts to look heavy again. Support for now stands at 1.5400 to 1.5382/16. Strategy. Short 1.5570, Stop:1.57215 Target; 1.52
We missed the ending diagonal breakout of EURGBP to its natural target @ 0.80329; when the ship has left the port you let it sail. But it seems we will catch the next bus @ squeeze level. We are buying deep on the squeeze level 0.80029 for a target of 0.81400. The risk to this call is sell-off through 0.79595. We actually saw the Head & Shoulder on daily chart but...
Strategy was to revert to dip buying as there is high probability of price action bounce on conflux of 200SMA, down channel and Completion of TD Sequential Count on Nov 14. We buy the support @ 1.5828 for a test of Nov 11 high, 1.60041. In retrospect, given the negative bias that, first partial take profit is 1.5900. The risk to this buy call is selling thorough...
3-day RSI is slightly positive. Momentum seems to be suggesting more correction to come in Oil.
If this play out well, we will sell the rally at 88.42 with a target of 80/barrel. The Risk is buying through stop @ 91. 25
2-day RSI depicts momentum exhaustion. We will go long S&P 500 with small leverage on Monday at the open for a re-test of Sept 6 Open,1403. The risk however would be with selling through a stop of 1354.60.
Short were squeeze at 1.5955 zone , prompting short covering. We are long @ 1.59790 with small leverage for a re-test of 1.60800 zone. First take profit is 1.60425, then 1.60795. We are comfortable with the fact that the risk reward is more than 1.5
Last week, EURJPY failed just ahead of 104.45 and close below a key pivot @ 103.276 on Friday.
This seems to suggest the market has topped for now and that EURJPY is about to take a deep breathe downward. We short and look for a re-test of confluence of the broken TD Line and 45DMA.
Strategy: Short @ 103.399, Stop @ 104.739 Target 101.08
AUD/USD basically held steady last week inside the bull rising wedge. However, as Hurricane Sandy approaches the aussie bulls mis-step in their run and broke the wedge.
Near term has remained capped by the recent high at 1.0412. This should ideally curtail the topside for attention to revert to supports. The Initial targets remain 1.0237, focal target is...
The post-RBNZ surge in NZD/USD gave AUD/USD an early lift. With the market now pricing out RBA OCR cut in November, short-covering and investment flows back into Asia could see AUD/USD back up to 1.0400-20.
Strategy: Cover Short Position @ 1.3301, Target 1.041