Technical Analysis of Gold for November 18, 2014 Market Analysis Review

The yellow metal was rejected at 20Dsma and closed below that in yesterday's session. The US dollar gained momentum after Japan had entered into recession. Today, traders are turning attention to the US CPI data. Any positive readings are likely to put pressure on the yellow metal towards $1,178.00, $1,173.00, $1,162.00, and $1,146.00. Ahead of the crucial economic event, FOMC meeting minutes on Wednesday, the metal is trading in a tight range between $1,193.40 and $1,181.00. From an intraday view, as of now the metal has made higher lows and high swings. The panic will be triggered below $1,161.00 with the target at $1,148.00 and $1,145.80. In case if the metal falls below $1,145.80, it can extend its decline up to $1,131.70, $1,120, and $1,113.00. In case if the metal manages to close above $1,190.00, it can challenge $1,200.00, $1,202.00, $1,208.00, and $1,211.00. The metal has strong resistance at $1,188.00 or 200MSma and $1,212.00 or 200MEma on a weekly basis. The monthly resistance exists at $1,233.00. For an hourly basis, the metal has support at $1,182.00 levels and resistance exists at $1,194.00.

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Technical Analysis of USD/CAD for November 18, 2014 Market Analysis Review

The pair held support at 1.1264 and managed to close above 20Dsma. Today, the pair opened on a bearish note higher at the 1.1309 levels and fell back again below 20Dsma. We recommend fresh selling below the 1.1264 levels with the targets at 1.1200 and 1.1188. In case if the pair closes above 1.1386 on a weekly basis, it can challenge 260 odd pips on the higher side. As we recommended earlier, the pair will challenge 1.1530 in the near term, 1.1644 and 1.1685 in the medium term, and 1.1900 and 1.2350 in the long-term perspective. The pair has resistance at 1.1425 on a daily closing basis. Today, traders are keeping an eye on the US CPI data. Falling oil prices are putting pressure on this pair which resulted in downticks. The prices are closed and are trading below 12ema and 34hrsma in the h4 chart. Until the prices closed below 1.1330, bears have an upper hand for the next couple of days. From an hourly view for speculators, above 1.1300 the pair favors bulls with the targets at 1.1310 and 1.1330.

Trade:

Sell below the 1.1264 levels with the targets at 1.1200 and 1.1188.

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Technical analysis of EUR/USD for November 18, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as German ZEW Economic Sentiment. The US will release the economic data too such as the PPI m/m, Core PPI m/m, NAHB Housing Market Index, and TIC Long-Term Purchases. In this context, EUR/USD will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2526.

Strong Resistance:1.2518.

Original Resistance: 1.2506.

Inner Sell Area: 1.2494.

Target Inner Area: 1.2464.

Inner Buy Area: 1.2434.

Original Support: 1.2452.

Strong Support: 1.2410.

Breakout SELL Level: 1.2402.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Technical analysis of USD/JPY for November 18, 2014 Market Analysis Review

In Asia, Japan will not release any economic news data. However, the US will release some economic data such as PPI m/m, Core PPI m/m, NAHB Housing Market Index, and TIC Long-Term Purchases. So, there is a big probability the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 117.09.

Resistance. 2: 116.86.

Resistance. 1: 116.63.

Support. 1: 116.35.

Support. 2: 116.12.

Support. 3: 115.89.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Technical Analysis of GBP/USD for November 18, 2014 Market Analysis Review

The pound has been continuously losing its winning streak for the 4th day in a row. The key trigger for the pound is inflation. Today, the inflation report will decide the fate of this pair. The delay in the UK interest rate hike is putting pressure on the pound sterling. We are extending the lower targets to 1.5500, 1.5450, and 1.5430. The pair favors selling on a rise. The monthly resistance exists at 1.6030 or 50M sma. The pair has weekly resistance exists at 1.5800, above this we can expect 1.5875 and 1.6025. The prices are making a minor base at the 1.5620 levels. The prices fell below the 3-week trading channel. In the US dollar front today, CPI data put pressure on the pound. Any positive readings will push the pair towards new lows. The cable has resistance at 1.5650 or 35DEMA; above this at 1.5670 or 12ema which will act as a major resistance level for an intraday session. Until the prices close above 1.5766, bears have an upper hand. We recommend fresh selling below 1.5630 with the targets at 1.5620, 1.5600, 1.5540, and 1.5500. Safe traders can start selling below the 1.5620 levels.

Trade:

Selling below 1.5630, safe selling below 1.5620.

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Technical Analysis of EUR/USD for November 18, 2014 Market Analysis Review

The pair made a double top at 1.2577 in yesterday's session and slipped more than 100 pips. The pair closed at the lowest point of the day. As we recommended in yesterday's article, my selling recommendation gave 45 pips. From an hourly trading view, the pair has been making base support at 1.2444. We recommend fresh selling again at 1.2440 and safe selling below 1.2434 with the targets at 1.2420, 1.2414, 1.2395, 1.2379, and 1.2350. The pair favors selling on rallies on a positional basis. Today, traders are focused on German Zew economic sentiment data and US CPI data. The pair has resistance at 1.2464, above this at 1.2485 and 1.2500. We can expect a strong hourly upswing above the 1.2510 levels. Currently, the pair is trading in a tight range between 1.2444 and 1.2464. In case if the price breaches 1.2464, it can challenge towards 1.2475,1.2500, and 1.2507. We recommend strong selling below the 1.2440 levels. The FED is going to raise its interest rates, which adds fuel to the US dollar. The ECB's easing results in weakness of the Euro. The monthly resistance exists at 1.2757 and monthly support exists at 1.2227. The pair has weekly parallel resistance at 1.2577 and support at the 1.2420 levels.

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Daily analysis of USDX for November 18, 2014 Market Analysis Review

On the daily chart, the USDX continues to form a clear bullish pattern above the support level of 87.35 with range movements. The bullish outlook for this instrument is still very strong, because the USDX has not formed reverse patterns that might indicate a change in the current trend. The next target on the upside road remains the resistance level of 88.63. The MACD indicator is entering the overbought zone.

Dailychart's resistance levels: 88.63 / 90.40

Dailychart's support levels: 87.35 / 86.20

The USDX made a strong bullish rebound to the support level of 87.28. Now, this instrument is consolidating above the 87.86 level with the formation of a higher high pattern. However, if the USDX executes a breakout at the support level of 87.86, it would be expected to drop to the level of 87.58. On the H1 chart, the USDX remains above the 200 SMA.

H1 chart's resistance levels: 88.15 / 88.43

H1 chart's support levels: 87.86 / 87.58

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD index breaks with a bullish candlestick; the resistance level is at 88.15, take profit is at 88.43, and stop loss is at 87.87.

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Daily analysis of GBP/USD for November 18, 2014 Market Analysis Review

The GBP/USD pair continues to find support on the bearish trend line at the level of 1.5635, which is prompting the pair to strengthen the current bearish trend on H4 chart. However, the GBP/USD pair could form a double bottom pattern to rise again to the resistance level of 1.5698. The aforesaid movement may be a corrective move in favor of the bearish trend and the following objective remains at the support level of 1.5512. The MACD indicator remains in the positive territory.

H4chart's resistance levels: 1.5698 / 1.5811

H4chart's support levels: 1.5600 / 1.5512

On the H1 chart, GBP/USD had a fall from the level of 1.5735 to the 1.5632 support level. A break of that support level could bring this pair to fall to the 1.5590 level in the short term. For now, we recommend using caution when placing buy orders at the current levels, because the GBP/USD pair is still holding firmly in the bearish bias.

H1 chart's resistance levels: 1.5686 / 1.5739

H1 chart's support levels: 1.5632 / 1.5590

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.5632, take profit is at 1.5590, and stop loss is at 1.5672.

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USDCAD Daily Analysis - November 18, 2014 Forex Analysis

USDCAD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.1466. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.1200 area. On the upside, a clear break above the trend line resistance will indicate that the downtrend is complete, then further rise to 1.1600 area could be seen.

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USDCHF Daily Analysis - November 18, 2014 Forex Analysis

USDCHF stays below the downward trend line on 4-hour chart, and remains in downtrend from 0.9739, the rise from 0.9552 would possibly be consolidation of the downtrend. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 0.9500 area. Only a clear break above the trend line resistance will indicate that the downtrend had completed at 0.9552 already, then further rise to 1.0000 area could be seen.

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USDJPY Daily Analysis - November 18, 2014 Forex Analysis

USDJPY remains in uptrend from 105.32, the fall from 117.05 is likely consolidation o f the uptrend. Support is located at the bottom of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to continue and next target would be at 119.00 area. Key support is at 113.86, only break below this level could signal completion of the uptrend.

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AUDUSD Daily Analysis - November 18, 2014 Forex Analysis

AUDUSD stays above the upward trend line on 4-hour chart, and remains in uptrend from 0.8540, the fall from 0.8795 is likely consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.8850 area. Only a clear break below the trend line support will indicate that the uptrend had completed at 0.8795 already, then deeper decline to test 0.8540 support could be seen.

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GBPUSD Daily Analysis - November 18, 2014 Forex Analysis

GBPUSD remains in downtrend from 1.6182, the rise from 1.5592 is likely consolidation of the downtrend. Key resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.5400 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

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EURUSD Daily Analysis - November 18, 2014 Forex Analysis

EURUSD's upward movement extended to as high as 1.2577. Further rise is still possible, and next target would be at 1.2600 - 1.2650 area. Support is located at the upward trend line on 4-hour chart, only a clear break below the trend line support could trigger another fall towards 1.2000.

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Technical analysis of USD/JPY for November 17, 2014 Market Analysis Review

Fundamental overview:

USD/JPY is expected to consolidate with a bullish bias after hitting a seven-year high 116.83 on Friday. It is underpinned by the negative yen sentiment as speculation continues to mount that Prime Minister Abe will delay a planned sales-tax increase to ensure the nation's economic recovery continues. USD/JPY is also supported by the ultra-loose Bank of Japan's monetary policy and demand from Japan's importers and yen-funded carry trades amid diminished investor risk aversion (VIX fear gauge eased 3.48% to 13.31; S&P 500 edged up 0.02% to post record-high close of 2,039.82 on Friday) after bigger-than-expected 0.3% on-month increase in U.S. October retail sales (versus forecast +0.2%) and better-than-expected University of Michigan preliminary November consumer sentiment index of 89.4 (versus forecast 87.8). But USD/JPY gains are tempered by Japan's export sales and broadly weaker dollar undertone (ICE spot dollar index last at 87.59 versus 87.77 early Friday) as U.S. Treasury yields slipped (10-year at 2.320% versus 2.345% late Thursday) after U.S. import price index dropped 1.3% on-month in October (versus forecast minus 1.2%) for largest monthly decline in more than two years, while University of Michigan survey showed inflation expectations covering the next five to 10 years fell from 2.8% to 2.6%, the lowest level since 2009.

Technical comment:

Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at the overbought levels, 5 and 15-day moving averages are advancing.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 116.90 and the second target at 117.30. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 115.35. A break of this target would push the pair further downwards and one may expect the second target at 114.90. The pivot point is at 115.70.

Resistance levels:

116.90

117.30

117.55

Support levels:

115.35

114.90

114.50

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Technical analysis of USD/CHF for November 17, 2014 Market Analysis Review

Fundamental overview:

USD/CHF is expected to trade in a lower range which is undermined by broadly weaker dollar undertone (ICE spot dollar index last at 87.59 versus 87.77 early Friday) as U.S. Treasury yields slipped (10-year at 2.320% versus 2.345% late Thursday) after U.S. import price index dropped 1.3% on-month in October (versus forecast minus 1.2%) for the largest monthly decline in more than two years, while University of Michigan survey showed inflation expectations covering the next five to 10 years fell from 2.8% to 2.6%, the lowest level since 2009, franc demand on buoyant CHF/JPY cross and franc demand on soft GBP/CHF and EUR/CHF crosses (latter last at 1.2012, just above the critical 1.2000 level). But USD/CHF losses are tempered by the dovish Swiss National Bank's monetary policy.

Technical comments:

Daily chart is negative-biased as bearish outside-day-range pattern was completed on Friday, MACD and stochastics are bearish.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.9675 and the second target at 0.970. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9580. A break of this target would push the pair further downwards and one may expect the second target at 0.9540. The pivot point is at 0.9610.

Resistance levels:

0.9675

0.97

0.9740

Support levels:

0.9580

0.9540

0.95

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Technical analysis of GBP/JPY for November 17, 2014 Market Analysis Review

Fundamental overview:

GBP/JPY is expected to consolidate with a bearish bias. It is supported by the soft yen sentiment, waning investor risk aversion and demand from Japan's importers. But GBP/JPY gains are tempered by Japan's export sales. Daily chart is positive-biased as MACD indicator is bullish, slow stochastic measure stays elevated at the overbought levels, five and 15-day moving averages are advancing.

Technical comment:

Daily chart is positive-biased as MACD indicator is bullish, slow stochastic measure stays elevated at the overbought levels, five and 15-day moving averages are advancing.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 181.50. A break of this target will move the pair further downwards to 181.05. The pivot point stands at 182.80. In case the price moves in the opposite direction and bounces back from the support level, then it will move above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 183.35 and the second target at 183.95.

Resistance levels:

183.35

183.95

184.75

Support levels:

181.50

181.05

180.75

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Technical analysis of NZD/USD for November 17, 2014 Market Analysis Review

Fundamental overview:

NZD/USD is expected to trade in a higher range. NZD sentiment is boosted by stronger-than-expected 1.5% on-quarter growth in New Zealand 3Q retail sales (versus forecast +0.9%). NZD/USD is also supported by the broadly weaker dollar undertone; speculation about earlier-than-expected RBNZ rate rises in 2015, NZD-USD interest differential and Kiwi demand on buoyant NZD/JPY cross amid subdued investor risk aversion and the weak yen sentiment as well as Kiwi demand on soft GBP/NZD and AUD/NZD crosses.

Technical comment:
Daily chart is positive-biased as bullish outside-day-range pattern was completed on Friday, MACD and stochastics is bullish; five-day moving average is above 15-day moving average and is advancing.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.7975. A break of this target will move the pair further downwards to 0.8005. The pivot point stands at 0.7870. In case the price moves in the opposite direction and bounces back from the support level, then it will move above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.7805 and the second target at 0.7770.

Resistance levels:

0.7975

0.8005

0.8035

Support levels:

0.7805

0.7770

0.7750

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Elliott wave analysis of EUR/NZD for November 17 - 2014 Market Analysis Review

Tody's support and resistance levels:

R3: 1.5877

R2: 1.5833

R1: 1.5792

Current spot: 1.5785

S1: 1.5742

S2: 1.5717

S3: 1.5705

Technical summary:

We are still looking for the final spike lower to the ideal target at 1.5705 to end wave 4 and set the stage for a strong rally in wave 5 higher towards 1.6446 on the way to 1.6800. Short term, we could see a small new rally to 1.5877 or maybe even slightly above before the final decline to 1.5705. In the short run, a break below 1.5746 will indicate that a spike towards 1.5705 is unfolding.

Trading recommendation:

We are still looking to buy EUR at 1.5720 with a stop at 1.5520.

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Elliott wave analysis of EUR/JPY for November 17 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 145.64

R2: 145.47

R1: 145.08

Current spot: 144.90

S1: 144.78

S2: 144.54

S3: 144.28

Technical summary:

We have just seen the expected rally to 145.92 and this target was even exceeded with a spike to 146.53 before the top was finally in place. Now, we will be looking for a correction towards wave iv at 142.06 before the next impulsive rally higher can be expected. At this point, only a direct break above resistance at 146.53 will call for a continuation higher to 148.30 before the final top is in place.

Trading recommendation:

Our take profit at 145.75 was hit and we booked a nice little profit on our longs from 144.71. We will sell EUR at 145.80 with stop placed at 146.60.

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EUR/NZD : analysis for November 17, 2014 Market Analysis Review

Overview:

In our last analysis, EUR/NZD has been trading sideways around the price of 1.5775. We are facing a very low volume on the market, so we are waiting for a larger volume and stonger price action. According to the daily time frame, we can observe weak demand on the market, which is a sign that buying EUR/NZD looks risky. Our Fibonacci expansion 100% at the price of 1.5800 is broken, so we may see possible testing the level of 1.5520 (Fibonacci expansion 161.8%). We can observe gap zone around the price of 1.5780-1.5820 (resistance zone). Watch for potential selling opportunities after retracement.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.5863

R2: 1.5886

R3: 1.5923

Support levels:

S1: 1.5789

S2: 1.5766

S3: 1.5729

Trading recommendations: Be careful when buying EUR/NZD since our Fibonacci expansion 100% got broken.

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Gold : analysis for November 17, 2014 Market Analysis Review

Overview :

Since our last analysis, gold has been trading upwards. The price tested the level of 1,181.95 in an ultra high volume according to the daily time frame. Since the price has broke the level of 1,179.00 in a high volume and strong price action, we may see possible testing the level of 1,207.00 in the further period. According to the 4h time frame, we can observe buying climax in the background and testing of our Fibonacci expansion 100% at the price of 1,191.00 My advice is to watch for potential buying opoprtunities on the lows.

Daily pivot Fibonacci points:

Resistance levels:

R1:1,185.45

R2: 1,186.73

R3: 1,188.83

Support levels:

S1: 1,181.23

S2: 1,179.93

S3: 1,177.83

Trading recommendations: Selling gold at this stage looks risky since the price has broken the level of 1,179.00.

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Weekly technical levels of GBP/USD for November 17-21, 2014 Market Analysis Review

Weekly technical levels of the GBP/USD pair.

Trading recommendations :

• According to the previous events, the price of GBP/USD is going to move between the levels of 1.5735 and 1.5530. The pair will probably go down because the downward trend is still strong. THe weekly pivot point will set at the level of 1.5735, for that it will act as strong resistance today. Therefore, sell below the level of 1.5735 which represents the pivot point in H1 chart with the first target at 1.5592 (the double bottom), then the trend will be able to continue toward the level of 1.5533. Nevertheless, the stop loss should be set at 1.5772.

Notes :

• If the trend is of an upside character, then the strength of the currency will be defined as follows: GBP is an uptrend and USD is a downtrend.


• Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.


• Fibonacci is in a range trade; it looks like the trend is trapped and going up or down. If you sell or buy for a long term in this period, you will surely lose your profit.

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Weekly technical levels of EUR/USD for November 17-21, 2014 Market Analysis Review

The weekly technical levels of EUR/USD pair.

Overview:

• According to the previous events, the price of EUR/USD pair is going to move between 1.2545 and 1.2430 from now until tomorrow. So, it should be noted that the level of 1.2545 is going to form the double top in H1 chart. Also, it should be noticed that the market was quite stable and trend was also rather clear (downward) since the last month. Therefore, we expect a bearish market today from the area of 1.2545. Thus, sell below the level of 1.2545 (this level represents a minor resistance today) with the first target of 1.2488 to test the weekly pivot point. It might resume to 1.2430 in order to reach the weekly support one. However, the stop loss should be always be into account, for that it will be very beneficial to set your stop loss at the price of 1.2585.

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#USDX Technical analysis for November 17, 2014 Market Analysis Review

The Dollar index made a double top last week. Despite breaking above the triangle pattern, the break out was a fake one and the strong reversal brought the index at the long-term cloud support. The longer-term trend remains bullish. Price has held support at 87 and this is the only good sign as we have also broken below the upward sloping trend channel.

Red line = resistance

Black line = price channel

The Dollar index has broken below the upward sloping channel and this is not a good sign. Support by the Ichimoku cloud is holding the index above 87. The Dollar index is now trying to break above the cloud and we could see a another move towards 87.90-88 as a back test of the break out below the channel. If this is the case, we could see a strong reversal from 88 again. Only this time we should expect the downward move to break 87 and push towards 86.

Blue line = support

The Dollar index continues to trade in a longer-term up trend. First important support is at 86.10 and a break below 87 will surely push us towards that level. The bullish flag pattern remains valid and I believe that the longer-term trend will not be in danger even if we pull back towards 86. Concluding, I remain neutral as I expect to see a rejection near 88 again and a strong reversal towards 87. If 87 is broken, the index is expected to go towards 86.10 which is critical support.

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Gold Technical analysis for November 17, 2014 Market Analysis Review

Gold price has held the important support at $1,145 on Friday. Despite the short-term weakness signals, prices reversed strongly and broke above the previous high at $1,178. Price has now reached the 2nd resistance at $1,190-$1,200. My longer-term view remains bearish as long as we are below $1,255 targeting at $1,050.

Black line = support

Gold price has broken above the Ichimoku cloud but has reached the resistance of the 50% retracement. As long as price is above the black support line, bulls should feel safe. However, a bearish reversal from the current levels is very possible as I still believe that the longer-term trend remains bearish with a view towards $1,050. Support is found at $1,155 and at $1,145. Breaking below thsese two levels will increase the chances of seeing a new low below $1,130 towards $1,050.

In the daily chart, the trend remains bearish as price remains below the Ichimoku cloud and has not managed to close above $1,193 which is the kijun-sen resistance. Support at $1,155 where the tenkan-sen is found is very important. The upward bounce from $1,130 is a corrective bounce relative to the $1,255-$1,130 decline. I believe the down trend will resume again with $1,050 as a target.

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Technical analysis of GBP/CHF for November 17, 2014 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair has dropped towards 1.5000 levels for now. The drop has accelerated after breaking below 1.5300 and subsequently 1.5200 levels. A break below 1.4975 levels, would ensure that the pair goes into deeper correction towards 1.48/1.47 levels. Support is seen at 1.4975/1.5000 while resistance is seen at 1.5300, followed by 1.5450, 1.5475, 1.5550 respectively. A pullback rally remains high probability from current levels. Recommendations are to remain flat for now and consider selling higher around 1.5200/1.5300 levels. CHF bulls look to be determined to remain in control for a while.

Trading recommendations:

Flat for now. Looking to enter short again at higher levels.

Good luck!

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