Eur usd weekly-remain sell below 1.0580
Euro dollar pair this week closed with gain. This was third positive weekly closing for euro after it hit fresh low near 1.0370. Eur usd pair price trend is down and current upside is just bounce back. On upside 1.0580 major hurdle and below it euro will continue to slide down. On downside my targets are 1.0290 and below. Eur/usd from long term view, remain bearish and heading for sub 1.0 levels in 2017.
Gbp usd weekly-bounce back over tgt 1.2095 and below
Pound dollar pair this week closed with loss. After last week bounce back pound tried to hold gains but news flow and fresh selling making pressure on pair and pushing it down towards supports of 1.2095. Reversal move has failed to breakout which resulted in sharp selling and now traders can expect target of 1.2095 and then 1.1860. From long term view, pound is slowly inching towards 1.0 mark against dollar.
Aud Usd weekly-trend breakout remain buy tgts 0.7430-0.7660
Aussie dollar pair this week closed at 0.7311 with gain. Aud has given strong reversal and also broke out above resistance of 0.7290. Now above this level traders keep buy on dips view and expect upside targets of 0.7430 and then 0.7660 in month of January. Daily closing below 0.7290 means failed breakout and aud/usd might resume downtrend for target 0.7065. From long term perspective, aud is ready for rally on commodity market boom.
Usd jpy weekly-remain buy on dips for tgts 119.4-121.9
Yen dollar pair this week closed at 117.14 with loss. On weekly chart yen is consolidating in range of 115 to 117 but outlook is still bullish. This Bull Run will continue for my upside targets of 119.4 and then 121.9. On downside 116.1 is major support for month of January and above it trading strategy for usd/jpy will remain buy on negative day.
Usd chf weekly-stay short below 1.0180
US. Dollar Swiss franc pair this week closed at 1.0174 with loss. This was third weekly loss for us dollar against Swiss franc and weekly volatility is too high suggesting tussle between bulls and bears at top. Technically 1.0180 is major support zone and if usd chf slips below it on daily closing basis then it will be fresh selling opportunity for target 1.0010 and below. From long term view, usd chf is in bullish trend and expect another fresh highs for pair in 2017.
Usd cad weekly-fresh breakdown watch for tgts 1.3150 and then 1.2855
Dollar loonie pair this week closed at 1.3239 with huge loss. This was second weekly loss for usd against cad. Usd/cad pair trend and momentum both are bearish. Below 1.3370 usd cad par will remain bearish and sell for targets 1.3150 and then 1.2855. Traders use major positive days to go short with stop loss above 1.3380 and expect swing targets at 1.3150 and then if another breakdown happens the 1.2855. From long term view, look like usd cad is in deep correction phase and might continue to slide down towards 1.24 to 1.16 support zones.