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Trade Idea Wrap-up: GBP/USD – Buy at 1.5600
Although the British pound has remained under pressure and the selloff from 1.5999 top may extend weakness to 1.5620/25 (100% projection of 1.5999 to 1.5710 measuring from 1.5910), downside should be limited to 1.5600 and loss of downward momentum should keep price above 1.5553-62 (previous support and 50% Fibonacci retracement of 1.5125 to 1.5999) and bring rebound later.
Trade Idea: USD/CAD – Exit long entered at 1.0310
Despite overnight retreat to 1.0298 (we entered long here at 1.0310), as the greenback found good support there and has rallied again, suggesting recent upmove from 1.0108 is still in progress and gain towards indicated upside objective at 1.0455/60 (100% projection of 1.0108 to 1.0307 measuring from 1.0257) is likely,
Trade Idea Update: GBP/USD – Sell at 1.5780 or buy at 1.5600
Although cable’s selloff below support at 1.5710 signals the decline from 1.5999 top is still in progress and stronger retracement of recent upmove to 1.5620/25 (100% projection of 1.5999 to 1.5710 measuring from 1.5910), however, downside should be limited to 1.5600 and loss of downward momentum should keep price above
Trade Idea: USD/CAD – Buy at 1.0310
The greenback has rallied again after finding renewed buying interest at 1.0257 yesterday, suggesting the rise from 1.0108 is still in progress and may extend gain to 1.0455/60 (100% projection of 1.0108 to 1.0307 measuring from 1.0257), however, reckon minor resistance at 1.0500/05 would limit upside and the trendline resistance around 1.0525/30 should hold from here.
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Trade Idea: AUD/USD – Sell at 0.9250
As the Australian dollar has maintained a firm undertone, suggesting recent rise from 0.8066 low is still in progress and gain to 0.9185/90 (100% projection of 0.8315 to 0.8871 measuring from 0.8633 and 1.618 times projection of 0.8908-0.9044 measuring from 0.8965) and then 0.9220 is likely, however, loss of near
Trade Idea: AUD/USD – Sell at 0.9250
As the Australian dollar has maintained a firm undertone, suggesting recent rise from 0.8066 low is still in progress and gain to 0.9185/90 (100% projection of 0.8315 to 0.8871 measuring from 0.8633 and 1.618 times projection of 0.8908-0.9044 measuring from 0.8965) and then 0.9220 is likely, however, loss of near












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