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
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closed USDCHF shorts... still waiting for 4550-80 level for eurusd...
ReplyDeletethe only good trade setting up in the markets is GBPUSD now...
keep an eye on this as well... http://www.bloomberg.com/news/2011-04-12/banks-face-sovereign-debt-scrutiny-in-eu-regulatory-stress-tests.html
short eurchf @2945 SL2965 TP 2900, 2835
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