Trade idea for a cheerful market
CNY/JPY is a good proxy for traders’ optimism. The technical setup for it is also quite interesting.
GBP/CHF looks vulnerable
Trade idea
SELL 1.2885; TP 1.2800; SL 1.2915
GBP/CHF found resistance in the 1.3100 area (resistance line connecting July and November highs). Only the support of the 100-week MA/200-day MA in the 1.2900 region keeps the pair from falling down to 1.28 and 1.2710 — 38.2% and 50% Fibonacci retracements of the December-January advance. On D1, 100- and 50-day MAs coincide with these levels as well. In addition, yesterday’s bearish candlestick with long upper wick points at the strength of sellers.
Elizabeth Belugina
Similar
USD/CHF targets lower levels
USD/CHF continues its December descent. The pair’s attempt to return above the 0.9845 area has failed.
NZD/USD will move on the Fed’s meeting
NZD/USD met resistance around 0.6565 (61.8% Fibonacci of the July-October decline, top of the October-December bullish channel).
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Trade idea for a cheerful market
CNY/JPY is a good proxy for traders’ optimism. The technical setup for it is also quite interesting.
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