EURUSD fairvalue target is 1.50; however serious headwinds are slowing down its progress, the most obvious is 1.4585 level; the USDCHF looks to have found strong support around 9050. In my opinion I expect the dollar to slide further this week if it doesnt retest 91.20, in which case the euro may not make it... I still have my shorts on USDCHF open and watching the 91.00 level.
For further buying opportunities on EURUSD, look for pull-backs around 1.4350-60 to go long again, thats if USDCHF doesnt break 91.20.. I am still optimistic of at least 1.4580 this week.
EURJYP: buy on dips... long term uptrend is under construction
join us live on the trading floor on www.hicsfx.co.uk
