Trade Idea: GBP/USD Sell at 1.6055 Although the British pound staged a rebound after Friday's selloff from 1.6095 to 1.5936, reckon upside would be limited to 1.6055/60 and said resistance should continue to hold, bring another retreat to the Ichimoku cloud bottom (now at 1.5956) but break of said support at 1.5936 is needed to add credence to our view that the correction from 1.5840 has ended at 1.6095 and bring a subsequent retest of this level later. Read more... Trade Idea: EUR/USD Sell at 1.3790 Although the single currency has eased after rising to 1.3768, reckon pullback would be limited to the Tenkan-Sen (now at 1.3728) and one more rise to previous resistance at 1.3777 cannot be ruled out, however, loss of near term upward momentum would limit upside and resistance at 1.3822 should hold, bring retreat later. Read more... Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1330 - 1400 |