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Breaking: 24/10 - EUR/USD consolidates aaround 1.2650, GBP/USD holds above 1.6000                     

 

 

Sterling at risk    Oct 24th 2014 - 09.50 GMT:    Follow us on Twitter for latest updates:     

GBP/USD found support just below 1.6000 on Thursday and again survived this level on Friday with no unpleasant surprises following the latest GDP data. After a relief rally to 1.6070, there has been a fresh retreat to 1.6035. The overall fundamentals continue to give cause for concern with clear evidence of a loss of momentum. With recued yield support Sterling remains vulnerable and the technical failure at 1.6185 earlier this week was important. Overall, GBP/USD is vulnerable to at least 1.5850.

                             Latest daily trading recommendations:    October 24th 2014  (time frame 3-24 hours) Delayed by 2 hours

Currency pair Date Time (GMT) Order type Target entry level Target 1  Target 2 Status

Market comment

EUR/US$ 24-10-14  12.15 Limit order Available to premium subscribers ***** ***** Pending Immediate resistance close to 1.2680 
USD/CHF 24-10-14  12.15 Limit order Buy at 0.9505 0.9530 0.9555 Pending Tough resistance around the 0.9600 area
AUD/US$ 24-10-14  12.15 Limit order Available to premium subscribers ***** ***** Pending Immediate support in the 0.8720 area
US$/CAD 24-10-14  12.15 Limit order Buy at 1.1205 1.1230 1.1255 Pending Short-term support near 1.1200
EUR/CHF 24-10-14  12.15 Limit order Buy at 1.2055 1.2080 1.2115 Pending Support near 1.2050
GBP/US$ 24-10-14  12.15 Limit order Sell at 1.6078 1.6050 1.6025 Pending Key support in the 1.6000 area
US$/JPY  24-10-14  12.15 Limit order Available to premium subscribers ***** ***** Pending Tough resistance on approach to 108.50 area

Short-term: key level to watch:

EUR/USD: 1.2680

EUR/USD dipped lower on Wednesday, but did find support on approach to the 1.2610 area before a rally to 1.2660. Break above 1.2680/1.2700 needed to alleviate immediate bearish pressure.

Please see Sterling for full GBP signals and yen for full JPY signals  

 

 

 

 

 

Medium-term: key level to watch:

GBP/USD: 1.5500

GBP/USD has dipped below 1.5950 after failing to sustain rally attempts with a head and shoulders intensifying pressure. Close below suggests threat of slide to the 1.5500 area.

Long-term: key level to watch

EUR/USD: 1.2050

EUR/USD is substantially over-sold on a short-term view and at least a limited corrective rally is likely to be seen. From a longer-term perspective, there is scope for moves to the 1.2050

Trade of the Month  -  October 9th: - 12.00 GMT

Pending: Sell EUR/USD at 1.2795, target 1.2510 s/l  1.2926

update: in play with 1.2766 trailing stop

 

 

Trade of the week  -  October 16th: - 12.00 GMT

Pending: Buy USD/JPY at 105.10  target 106.60, s/l 104.26

 

 

 

 

 

 

 

 

 

 

 

 

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