Currency Pair Daily Forecasts
Prices cleared the 10-day MA near 1.4150 and the Oct 5 range top at 1.4160 in London, but a long trade was passed over due to increasingly o/b intraday studies, now bearishly diverging, and the closeness of the 61.8% retracement at 1.4180. 10-day MA since breached below but 1.4125 has triggered another bounce.
USD/JPY Daily Technical Reports
Prices rallied toward Tues's 117.60 high today, which is now the Ichimoku Cloud top as well, but were rebuffed. The daily trend is up but it is beginning to get o/b by some measures. Much prefer to buy a pullback to 116.90 or 116.80, the former nearly hit on the last dip. Need a 116.80/117.60 breakout for a trend trade.
GBP/USD Daily Technical Reports
Key level to watch above is 2.0495, with a break exposing the yearly and multi-year highs by 2.0655. Inability to clear 2.0495 however, suggests the possibility for a medium-term top, favoring a resumption of setbacks back towards the 2 handle. Outside weeks in favor of the USD vs Eur, Chf, and Dxy all point to a broader USD rally and as such retain bear bias
USD/CHF Daily Technical Reports
We exited the short trade after there was no follow- through below the retracement support at 1.1790 and as an o/s bullish divergence began to take shape on the hourly charts with the false break below there. Although prices have tumbled from Tues's 1.1895 top, they would need to break and close below Mon's low to reverse the trend.
