EURUSD - Potential buy @ 1.2000 which coincides with the 1.618 Fib Ext from June's swing low to June's swing high. We have to be mindful it is trading in a long term bearish channel which will provide long term support and resistance
AUDCHF - Price has been trading between two large ranges for the past six years. Either: Sell at 1.0760, a 15 year high; Buy on pullbacks to 1.0153 or 0.9955, target to the upper range if going long
CADCHF - Currently trading in a bearish trend channel. Either: Sell towards parity 1.000 - the upper trend channel which coincides with a horizontal resistance level and the 500dma; Buy at the previous support level 0.9432 with a target to the upper resistance trend channel
NYMEX Crude Oil - Look for sells between 92.52-91.81. Price is rallying towards a strong level of resistance which includes December 2011’s low, a 50% Fib Ret from May swing high to June swing low, a 1.618 Fib Ext from July 5 swing high to July 10 swing low and 500dma which has yet to be tested in bearish territory. This could be the beginning of an Elliott wave 4 so a potential final target would be below the swing low at 77.19 which is this year’s low so far.
Happy trading!
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That's some good stuff, Jitan, and chimes with what I have been looking at which is always reassuring, thank you very much for posting that, it is appreciated. It's even hot and sunny in the Peak District, for once, so it's a good news day all round! Warm regards, Piers
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