Eur usd heading for 1.03 target
Euro dollar pair this week closed with loss. High volatile dram continues for euro and this was third losing week for euro. After last week’s strong short covering rally, euro resumed downtrend after touching resistance of 1.08. On downside 1.03 is first major support for month of December and target zone. Below 1.03, eur/usd next support as well as target zone will be 1.0. On upside 1.06 and 1.08 are resistances as well as fresh short entry zones.
Gbp inr hit support of 1.2465
Pound rupee pair this week closed with loss. This was second week of losses for pound. Pound is correcting on profit booking but outlook still bullish. In last 2 weeks we saw 300 pips drop from top in pound against dollar. On downside 1.2460 is major support andabove it. On upside 1.2725 and then 1.2930 are resistances as well as target zones.
Aud usd heading for 0.7205 and 0.7025
Aussie dollar this week closed at 0.7299 with almost drop of 2%. After last week’s bounce back move, this week we saw higher level up to 0.75. Which was major resistance and we saw sharp supply in aud at those levels. On downside my targets are 0.7205 and if slips below 0.7250 then expect lower level up to 0.7025.
Usd jpy almost hit my target 119.25 next tgt 123.8
Dollar yen pair this week closed at 117.9 with gain. This was sixth week of gain for US dollar against yen. In this six week we saw pair moved from low of 101 to almost high of 118. Pair trend and momentum is strong bullish and expect this is to continue in next week. On upside 119.25 is my first swing target for this rally which is expected in next week. And above it next target will be 123.8 which might expected in January 2017. 110.25 was breakout level and remain as major support zone on downside.
Usd chf heading for swing target 1.04
Dollar-Swiss franc pair this week closed with gain at 1.0263. This was sixth week of gain for usdchf pair. In these 6 weeks, pair rallied from lows of 0.9550 to highs of 1.0350. Total 800 pips rally and still strong bullish momentum. After breakout at 0.9975, usd chf pair is heading towards my swing target of 1.04. We already saw high of 1.0351. Above 1.04 next major swing target as well as resistance will be 1.0630.
Usd cad bounce back rally achieved targets 1.3260 and 1.3425
Dollar loonie pair this week closed with 1.54% gains at 1.3334. At start of this month we saw opening below major support of 1.3425 and sharp selloff till 1.31. Which was bottom support and we saw sharp reversal from those levels. On upside 1.3260 and then 1.3425 are resistances as well as target zones. Watch 1.3425 zone as major hurdle if dollar breakout above this level then expect bullish trend for pair and level of f1.3580 to 1.3750 in short to medium terms.