USD-CHF @ 0.9780/83...Buy dips
R: 0.9820 / 0.9850 / 0.9900
S: 0.9770-50 / 0.9720 / 0.9650
The pair after coming down to 0.9700 last week has moved up to make a high of 0.9824 yesterday where it took Resistance at its 200 EMA on the hourly charts and has come down from there. There is a fair chance that the downside move because of RSI divergence with the pair is over and it is ready to start another leg of the up move. It has good immediate Support in 0.9770-50 region and we can look to enter a long position near 0.9750. The pair is in an uptrend and we can expect it to continue moving up targeting 0.9900 in the immediate term. The down side seems capped at 0.9720 which is 200 EMA on the four hourly charts. It came down to make a low of 0.9766 and has bounced from there we can still see a dip to our buying price in case it rises from here we may think of buying at the market as well.
Limit buy order
Buy USD 10K at 0.9755, SL 0.9685, TP 0.9900
GBP-USD @ 1.5667/70...Can fall now
R: 1.5750 / 1.6050 /
S: 0.9760-50 / 0.9720 / 0.9650
The pair has broken its range that it was trading in from Friday and if it manages to stay below 1.5670-80, the pair can slide and go downwards to1.5575 and 1.5500 subsequently. We can expect to have descent momentum on the down move and the move can be swift. We have held on the short position and would be looking to trail our stop loss now. In the broader picture the pair is still in the upper end of 1.5750-1.5400 range and can move towards the lower end. The upside seems capped till the pair is below 1.5750 and we can see it moving higher only if this resistance is broken with strength.
GBP 10K short at 1.5691, SL 1.5735 (down from 1.5755), TP 1.5460
As soon as market trades 1.5625 trail SL to 1.5675 and as soon as the market trades 1.5575 bring TSL down to 1.5645.
Limit Buy Order:
Buy GBP 10K at 1.5425, SL 1.5345, TP Open
AUD-USD @ 1.0522/25...Can see a pull back
R: 1.050-10 / 1.0560
S: 1.0465 / 1.0430-400
The pair has been moving up since last Wednesday when it took support on its 200 EMA on the four hourly charts and since then has been quite bullish. The pair currently stands at its trend line resistance on the four charts at 1.0530-40 where it can take resistance and can come to its immediate support of 1.0460-50 which if broken can take the pair to 1.0430-400 in the immediate term. We would be looking to go long on the pair on a rise after a dip as the pair has moved up one sided from 1.0180-500. On the up side the pair can take resistance at 1.0560 and 1.0650 subsequently.