13th March 2015 – Technical Outlook


FROM HERE: remain long or buy around 0.7700 to target 0.7778 then 0.7844

BUT: major resistance is at 0.7730-40 area so watch this area. Below 0.7670 may see short term stops triggered

COMMENT: Retracement has begun from 0.7580. Major hurdles are 0.7740 : 0.7844



FROM HERE: cautiously buy around 120.90 to test 122.00 again

BUT: bullish momentum seems fading so don’t be too aggressive with longs. Below 120.50 may see commencement of retracement

COMMENT: Note how NY close for the week to prepare for next week’s strategy. Expecting quiet next 24hrs.



FROM HERE: buy on dips around 1.0574 to target 1.0685

BUT: consider reversing if 1.0550 breaks on downside

COMMENT: Looks like a brief short squeeze before bears come back to continue its drive downwards



FROM HERE: sell around 1.4912 to target 1.4844 then 1.4800

BUT: major resistance is around 1.4950 so can consider reversing if this is breached.

COMMENT: Sterling weakness overnight mostly due to crosses (EUR/GBP). Should continue today



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