We entered a short position in EUR/USD earlier at 1.3205 in anticipation of a correction and 1.3233 did cap euro’s upside, price then retreated in line with our expectations, objective at 1.3100 was met as price dropped to as low as 1.3077 (with 110 points profit), we then sold the pair again at 1.3180 as we took the view that top has been formed at 1.3233, price met renewed selling interest at 1.3213 and slipped again, our profit target at 1.3080 was reached again

Early entered long position in USD/CAD was  stopped last  week as the indicated support at 1.0052 was finally breached and the greenback extended recent decline to as low as 0.9981 late last week before recovering.

Due to the Chinese New Year holidays, only 3 positions were entered last week, a long position was entered in USD/CHF at 0.9270 and although price rebounded from 0.9236, renewed selling interest emerged at 0.9340 and the greenback slipped again from there (the position was stopped at break-even) to as low as 0.9112 this morning before rebounding again.

A long position was entered in USD/CAD last week at 1.0105 as we are holding a consolidative view on the pair, we still expect support at 1.0052 to hold and bring another rebound later and the position is still running.

We sold the British pound early last week at 1.5400 and although cable did retreat after faltering below resistance at 1.5410, sterling found renewed buying interest around the Ichimoku cloud and has risen again from 1.5321, our lowered stop at 1.5390 was hit with 10 points profit, then price continued to move higher through 1.5500.

A long position was entered in AUD/USD on aussie’s initial retreat to 1.0145, we bought the pair at 1.0175, the pair found decent demand there and staged an anticipated rebound from there, just met our indicated upside target at 1.0375 (with 200 points profit) as price rose to as high as 1.0378, however, price then retreated after faltering below indicated resistance at 1.0387.

We bought USD/CHF again early last week at 0.9480 and although price did rebound from 0.9466 to as high as 0.9567, the greenback met renewed selling interest there and price dropped again from there, our long position was then stopped at 0.9465 and price slipped to as low as 0.9407 before rallying late last week on Friday to 0.9574.

No position was entered last week.

We bought USD/CHF early last week at 0.9315 as we expect dollar to form a low soon, the greenback did find good support at 0.9305 and rallied from there in line with our expectations. Our long position met its target at 0.9415 with 100 points profit and price surged initially to 0.9450, then to as high as 0.9595 earlier today.