EURUSD
I see the pair has strangled to break the 1.3298 nor the 1.2330 line. As i’m writing, the price is stuck at 1.2911. From a larger time frame view (H1, H4 and D1), I can see the price is heading up. A oversold condition is seen at the W1 time frame suggested more bullish ahead. But I can’t ignore the fact that in the medium term, based on the fundamental news, a bearish condition would apear. especially at the end of this week. We’ll just have to see.
Directional Bias:
Nearer Term –Mixed
Short Term –Bearish
Medium Term –Bearish
USDJPY
The pair’s inability to extend corrective recovery off the 90.91 through its psycho level/.50 Ret (110.67-90.91decline) at 100.00/84 has now increased the odds of lower prices towards the 95.75 level, its Mar’08 low ahead of its bigger support at its YTD low at 90.91.Below here will turn focus to the 86.52 level, its 1.618 Fib Ext and the our longer term support resting at the 79.70 level, its April’1995 low.
Directional Bias:
Nearer Term -Mixed
Short Term -Bearish
Medium Term -Bearish
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