Get 40% Off
💰 Ray Dalio just increased his holdings in Google by 162.61% - See the full portfolio with InvestingPro’s free Stock Ideas toolCopy Portfolios

Monday’s Technical Analysis on EUR/USD,GBP/USD,USD/JPY

Published 04/06/2016, 12:12 AM
Updated 03/09/2019, 08:30 AM
EUR/USD
-
GBP/USD
-
USD/JPY
-
BAC
-

Bank of America Merrill Lynch (NYSE:BAC) recommend its clients to sell EUR/USD to hedge for a Brexit scenario. Merrill Lynch argues that Fed has to hike rates in the improving global economic situation while the ECB will not stop doing QE easing before it reaches the goals for inflation. Merrill also expects EUR/USD to depreciate below 1.10 before June and they are targeting parity by the end of the year. Current high levels in EUR/USD are seen by Merrill a good opportunity to sell EUR/USD ahead of Brexit referendum.
EUR/USD

Seen from the Chart H1, EUR/USD has been in the correction at high level for a while but the range keeps narrow. We cannot say that “ the bullish momentum is strong” in this case. Therefore, we mainly continue to be bearish and be put option buyers during the daytime session. Not to be bullish until the price breaks above 1.1430. (HKT)
Support: 1.1352/1.1308 Resistance: 1.1407/1.1430
GBP/USD


Seen from the Chart H1, GBP/USD may form a small bottom divergence but the bigger trend continues to be bearish. We are mainly put option buyers during the daytime session overall. Call options can be first purchased with caution in the morning session. (HKT)
Support: 1.4100/1.4050 Resistance: 1.4200/1.4250
USD/JPY


Seen from the Chart H1, as USD/JPY needs a rally correction, call options can be purchased in the morning session before the 111.00 resistance level.(HKT)
Support: 110.00/107.60 Resistance: 111.00/111.50
[Tips]All the information mentioned above is for reference only. FX77 Option team will keep an eye on the market and set the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please follow us.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.