EURUSD. Trend is downwards on the daily chart. A pair is trading in the downstream channel and has reached a support at 1.4541. Euro has upwards from the support zone. You can try to put buy stop order on the 1.4650 level and put stop-loss order just below 1.4600 in this case. You can try to put sell stop order on the 1.4536 level and put stop-loss order just above 1.4600 in this case. I recommend to use the tactic of re-entry.


GBPUSD. Trend is downwards on the daily chart. A pair is trading in the downstream channel and Pound has upwards from the support zone 1.6300. If you are in the long against 1.6298 as I recommended, get a profit. The «quirk by trend» on the RSI-3. Rebound down is possible. Strategy: look to get short in the 1.6380-1.6400 zone. If pair will close above 1.6430 – cancel short. 1.6430 is the line Fibonacci retracements use horizontal lines to indicate areas of  38% resistance.



Elena Chernaya, Chief Currency Strategist
ELAN Investment Solutions

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