EJ Falls From Supply, USDCHF Back At Demand

We saw some continued moves on the yens last week, some anticipated, others not so much. CADJPY fell from supply so that was good. We’ll look at the main pairs to watch this week.

EURJPY – Short

EJ has dropped from supply on the daily and there’s a clear path below for it to fall further should it want to. A move further down is what I’ll be looking for this week.

2016-02-07 EJ Short D1

EURUSD – Long

EU rallied out of a range last week creating a nice looking demand level. We’re in between supply and demand at the moment so we’ll see which one price gets to first.

2016-02-07 EU Long.Short D1

USDCHF – Long/Short

USDCHF has dropped back to a demand level where it rallied from before. We’ve got a series of nice red candles coming into the zone so it’s worth watching. We could see a bounce from here. Failing that, there’s a profit zone below it with green candles only so that could be good to short through. We’ll watch PA and see what happens.

 

2016-02-07 USDCHF Long.Short D1

Detailed Analysis

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