Upcoming week – EURCHF, NZDUSD, USDCHF

In terms of VFI the EURUSD starts to be little bit oversold. Friday was extremely volatile with range of 273pips. That is extremely big range for the pair and especially for Friday trading. For that reason we might see some gaps on the Sunday opening. Looking at the M15 chart we might see some retracement back to 4156 {first pause} and 4192 {4200 might be tested eventually} depending on close above 4124 on M15 – H1. Bigger picture is telling us that we are currently under the 38.2% fib. 870pips in two weeks is a big drop and some BIDS which could return us back to 45 can be expected either at 4000 – 4033 or above 4270 – 4315.

With GBPUSD being at the bottom of the channel 6150 would be critical for next direction. If Monday proves to be directional we might see tests of 6150 first before testing 6230 – 6250 and 6300 – 6350. Overall the tone for both EURUSD and GBPUSD is bearish and certain levels need to be broken and the price must held above for direction change.

On my little longer term strategy I see few opportunities in NZDUSD, EURCHF, USDCAD. The chart I like the most is the EURCHF chart. The level 2677 will be critical for next trade guidance. The symmetry seems to be exhausted and with the pair creating higher lows recently we can see some bids coming up from 2480’s to 2570’s. Other pairs like USDCHF and EURGBP are still pretty unclear and the further price action is needed to determine if there is going to be any direction change. USDCHF is still in tact with the daily bearish down trend-line. Let’s see what is going to happened.

Recently I was not able to blog much since the new apartment kept me very busy. Finally I am little bit more settled which means more time for blog posts.