With the Dow (.DJIA) yielding at the historical congestion zone of 11200 ranges, USD continued its strength across the board especially against the Common Currency, Aussie Dollar, Japanese Yen and Swiss Franc. Except for the Cable which continued to trade range bound, though with weaker bias; 1.6000 ranges acting as minor support, USD is expected to post major trend reversal against most of the majors. Pressure can be seen in most of the asset classes by the virtue of USD strengthening.
Instrument Trend Trading Strategy
EURUSD Up Sell on rise to 1.3620 S/L: Above 1.3660 TGT1: 1.3440 TGT2: 1.3365
GBPUSD Down Range bound between 1.6100 and 1.6000
USDCHF Sideways Buy in the ranges of 0.9.9675-0.9680 S/L: Below 0.9580 TGT1:1.0000
USDJPY Sideways Buy in the ranges of 82.80-82.90 S/L: Below 82..60 TGT: 84.26
EURJPY Up No Trades recommended
AUDUSD Down Sell in the ranges of 1.000 S/L: Above 1.0020 TGT: 0.9915
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