The EUR/CHF quietly snuck higher last week, and the pair has continued to trade higher so far today. However, an unusually strong convergence of resistance levels near the completion of a bearish geometric pattern around 1.2400 suggests a top is likely to emerge soon.
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Candlestick Daily: Quiet Start to Week as USD/JPY Nears 100.00
| CURRENCY | CURRENT BIAS | POTENTIAL STRATEGY |
| EUR/USD (Short Term) |  | Ticking higher from key support at 1.3000, resistance looms at 1.3100 and 1.3131 |
| GBP/USD (Short Term) | | Treading water around 1.5200 as traders wait for volatility to pick up. See full report for more details |
| USD/JPY (Short Term) |  | USD/JPY Head and Shoulders Could Target Sub-96.00
We’ve been actively trading the USD/JPY to the topside over the past week, but the last two trades haven’t worked out as we were hoping, with one stopped out at breakeven and the other invalidated before entry. When otherwise strong technical setups fail to reach their targets, it’s often a sign that the market has...
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Candlestick Daily: Quick GBP/USD Sell if 1.5350 Support Breaks |
