At least 20+ currency pairs begin the week sitting either on solid supports or strong resistance points above. EUR/USD 1.1609 Vs USD/JPY 105.96 for example. Both are exact opposite pairs. NZD/USD 0.6557 Vs AUD/USD 0.7066. AUD/JPY 74.84 Vs EUR/JPY 122.98. Prices at vital price points contain ability to fly either way.
Not much happening with currency prices to trade from the open as patience is required this week to wait on our entry points.
PLN/HUF is deeply overbought short, medium and long term and encompasses a long term target at 76.19 from current 79.88. PLN/HUF arrives at 76.19 upon breaks at 79.85 and 77.28.
Despite a lofty target, PLN/HUF target will take time as weekly ranges are fairly dead within `100 pip weekly moves. By trading PLN/HUF is the same as trading USD/PLN only a slim down version as weekly pip ranges are small compared to 800 and 100o pip weekly ranges to USD/PLN. A low Vs high range currency pairs.
For PLN/HUF is overbought as well as USD/PLN. PLN/HUF will assist to bring down USD/PLN this week.
GBP pairs this week are best to overall trades while the remainder pairs must wait for the breaks to occur.
Short 80.86 and 80.96 to target 80.05.
Short 79.85 to target 78.83
Long 78.83 to target 79.54.
Long 80.05 to target 80.45.
Short 3.9366 and 3.9455 to target 3.8739 then 3.8694.
Short 3.8471 to target 3.8113.
Long 3.8113 to target 3.8024.
Long 3.8694 to target 3.8829.
Long 1.2687 and 1.2670 to target 1.2803
Long above 1.2819 to target 1.2953
Short 1.2953 to target 1.2853
short 1.2803 to target 1.2754.
Long 134.07 and 133.92 to target 135.66
Long above 135.82 to target 136.93
Short 136.93 to target 136.14
short 135.66 to target 134.87. Long only strategy.