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Forex Analytics

 

GBP/JPY: buy target – 194.00

12 June 2015

 

By: Dima Chernovolov

 

-GBP/JPY reached buy target 189.60

-Next buy target – 194.00

 

GBP/JPY recently reversed up sharply from the support area lying between the support level 189.60 and the 38.2% Fibonacci Correction of the previous upward price impulse from the middle of May (as you can see below). The support level 189.60 is also the former strong resistance level – which reversed the previous intermediate (A)-wave in December and which was set as the buy target in our previous forecast for this currency pair.

 

GBP/JPY is likely to rise further in the active minor impulse wave 5 toward the next buy target 194.00. GBP/JPY will need to break the weekly up channel from 2014 to reach this target.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/GBPJPY%20-%20Primary%20Analysis%20-%20Jun-12%200953%20AM%20(1%20day)%20650.png

 

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Forex Analytics

 

NZD/JPY: buy target - 86.00

12 June 2015

 

By: Dima Chernovolov

 

-NZD/JPY reached sell target 87.00

-Next buy target - 86.00

 

NZD/JPY continues to decline after the recent breakout of the support level 87.00 – which was set as the sell target in our previous forecast for this currency pair. The breakout of this support level accelerated the active minor impulse wave 3 (which belongs to the 3rd intermediate impulse (3) from May) - which earlier broke the pivotal support level 88.00 (which was mentioned in our previous forecast for NZD/JPY).

 

NZD/JPY is likely to fall further inside the active impulse wave 3 toward the next sell target 86.00. Sell stop-loss can be placed above the recently broken price level 87.00.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/NZDJPY%20-%20Primary%20Analysis%20-%20Jun-12%200953%20AM%20(1%20day)%20650.png

 

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Forex Analytics

 

Danske Bank: trade signals for June 15

 

Open positions:*

 

USD/JPY: Hold SHORT from 123.52, TAKE PROFIT 121.78, STOP LOSS 124.65

 

GBP/USD: Hold LONG from 1.5447, TAKE PROFIT 1.5700, STOP LOSS 1.5415 (revised)

 

AUD/USD: Hold LONG from 0.7705, TAKE PROFIT 0.7846, STOP LOSS 0.7635

 

EUR/CAD: Hold LONG from 1.3850, TAKE PROFIT 1.4225, STOP LOSS 1.3690

 

GBP/JPY: Hold LONG from 191.00, TAKE PROFIT 193.73, STOP LOSS 190.09

 

EUR/JPY: Hold SHORT from 139.45, TAKE PROFIT 137.08, STOP LOSS 140.20

 

Trade ideas:

 

EUR/CHF: SELL at 1.0485, TAKE PROFIT 1.0312, STOP LOSS 1.0535

 

NZD/USD: SELL at 0.7070, TAKE PROFIT 0.6878, STOP LOSS 0.7120

 

USD/CAD: BUY at 1.2250, TAKE PROFIT 1.2442, STOP LOSS 1.2160

 

USD/CHF: Look to SELL

 

EUR/USD: Look to BUY

 

EUR/GBP: Possibly SELL

 

__________________________________________________________

*Danske Bank applies trailing stop orders (moved together with the price)

 

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Forex Analytics

 

Danske Bank: trade signals for June 16

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.1265, TAKE PROFIT 1.1050, STOP LOSS 1.1352

 

USD/JPY: Hold SHORT at 123.52, TAKE PROFIT 121.78, STOP LOSS 124.65

 

GBP/USD: Hold LONG at 1.5447, TAKE PROFIT 1.5700, STOP LOSS 1.5415

 

USD/CHF: Hold LONG at 0.9330, TAKE PROFIT 0.9543, STOP LOSS 0.9229

 

AUD/USD: Hold LONG at 0.7705, TAKE PROFIT 0.7846, STOP LOSS 0.7635

 

USD/CAD: Hold LONG at 1.2340, TAKE PROFIT 1.2529, STOP LOSS 1.2268

 

EUR/JPY: Hold SHORT at 139.45, TAKE PROFIT 137.08, STOP LOSS 140.20

 

EUR/CAD: Hold LONG at 1.3850, TAKE PROFIT 1.4225, STOP LOSS 1.3690

 

GBP/JPY: Hold LONG at 191.00, TAKE PROFIT 193.73, STOP LOSS 191.15 (revised)

 

Trade ideas:

 

EUR/CHF: BUY at 1.0470, TAKE PROFIT 1.0602, STOP LOSS 1.0420

 

NZD/USD: SELL at 0.7070, TAKE PROFIT 0.6878, STOP LOSS 0.7120

 

EUR/GBP: Possibly SELL

 

__________________________________________________________________

*Danske Bank applies trailing stop orders (moved together with the price)

 

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Forex Analytics

 

Danske Bank: trade signals for June 17

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.1265, TAKE PROFIT 1.1050, STOP LOSS 1.1352

 

USD/JPY: Hold SHORT at 123.52, TAKE PROFIT 121.78, STOP LOSS 124.20 (revised)

 

GBP/USD: Hold LONG at 1.5447, TAKE PROFIT 1.5700, STOP LOSS 1.5483 (revised)

 

USD/CHF: Hold LONG at 0.9330, TAKE PROFIT 0.9543, STOP LOSS 0.9229

 

AUD/USD: Hold LONG at 0.7705, TAKE PROFIT 0.7846, STOP LOSS 0.7635

 

USD/CAD: Hold LONG at 1.2340, TAKE PROFIT 1.2529, STOP LOSS 1.2268

 

EUR/JPY: Hold SHORT at 139.45, TAKE PROFIT 137.08, STOP LOSS 140.20

 

EUR/CHF: Hold LONG at 1.0470, TAKE PROFIT 1.0602, STOP LOSS 1.0420

 

EUR/CAD: Hold LONG at 1.3850, TAKE PROFIT 1.4225, STOP LOSS 1.3690

 

GBP/JPY: Hold LONG at 191.00, TAKE PROFIT 195.23 (revised), STOP LOSS 191.97 (revised)

 

Trade ideas:

 

EUR/GBP: SELL at 0.7220, TAKE PROFIT 0.7056, STOP LOSS 0.7273

 

NZD/USD: SELL at 0.6998 (revised), TAKE PROFIT 0.6878, STOP LOSS 0.7060

 

______________________________________________________________________

 

*Danske Bank applies trailing stop orders (moved together with the price)

 

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Forex Analytics

 

GBP/NZD: buy target - 2.2600

17 June 2015

 

By: Dima Chernovolov

 

-GBP/NZD reached buy targets 2.2200 and 2.2400

-Next buy target - 2.2600

 

GBP/NZD has been rising strongly in the last few trading sessions breaking through the resistance levels 2.2200 and 2.2400 – both of which were set as the buy targets in our previous forecast for this currency pair. Each of these successive resistance breakouts further accelerated the active minor impulse wave 3 (which is a part of the 5th intermediate impulse (5) from May – belongs to the 3rd primary impulse ③ from last year).

 

With the accelerating daily Momentum, GBP/NZD is likely to rise further toward the next buy target 2.2600 (target price for the completion of the active impulse wave (5)).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/GBPNZD%20-%20Primary%20Analysis%20-%20Jun-17%200924%20AM%20(1%20day)%20650.png

 

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NZD/CAD: sell target - 0.8300

18 June 2015

 

By: Dima Chernovolov

 

-NZD/CAD approached support level 0.8400

-Next sell target - 0.8300

 

NZD/CAD has been falling sharply in the last few trading sessions – after breaking the support level 0.8700, which was set as the sell target in our previous forecast for this currency pair. The breakout of this support level intensified the bearish pressure on NZD/CAD – leading to the breakout of the next powerful support level 0.8600 – which further intensified the bearish pressure on this pair.

 

NZD/CAD is currently trading close to the support level 0.8400. If the price breaks this support level – it can then fall to the next support level 0.8300.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/NZDCAD%20-%20Primary%20Analysis%20-%20Jun-18%200956%20AM%20(1%20day)%20650.png

 

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NZD/CHF: sell target – 0.6200

18 June 2015

 

By: Dima Chernovolov

 

-NZD/CHF reached sell target 0.6450

-Next buy target – 0.6200

 

NZD/CHF yesterday broke sharply below the strong support level 0.6450 which previously stopped the sharp intermediate impulse wave (1) in January (as you can see below) and which was set as the sell target in our previous forecast for this instrument. The breakout of this support level is likely to intensify the bearish pressure on this currency pair in the coming trading sessions.

 

NZD/CHF is set to fall further toward the next sell target at the support level 0.6200 (forecast price calculated for the termination of the active impulse waves 5 and (3)). Strong resistance remains at 0.64550.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/NZDCHF%20-%20Primary%20Analysis%20-%20Jun-18%200957%20AM%20(1%20day)%20650.png

 

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Forex Analytics

 

Trading plan for June 19

 

Kira Iukhtenko

 

The US Dollar is depreciating after the dovish Fed’s meeting on Wednesday. Inflation data released on Thursday added pressure: core CPI rose by only 0.1% in May. DXY fell below 94 points. Next support is seen at 93 points – these are the May lows.

 

https://www.youtube.com/watch?v=ps2J_yNdQo8

 

EUR/USD rose above 1.1400 – market forgot about the Greek issue after the FOMC disappointment. Watch the Ecofin meeting headlines on Friday. Resistance for EUR/USD lies at 1.1530 – break higher could confirm an inverse “head-and-shoulders” formation with a strong bullish potential. Watch the 1.1050 support.

 

GBP/USD broke above the 1.5900 resistance, reaching its highest levels since 2014. We’ll see whether the cable manages to fix above 50% Fibonacci (1.5870). Support lies at 1.5800, while resistance – at 1.6000.

 

USD/JPY retraced down below 123 yen. Support lies around 122.40.Break lower could provoke a strong selloff. Watch the Bank of Japan meeting tonight.

 

AUD/USD surged above the 0.7800. We are not sure that the pair will be able to fix above here, but a weekly close could become a strong buying signal.

 

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GBP/AUD: buy target - 2.0600

19 June 2015

 

By: Dima Chernovolov

 

-GBP/AUD reached buy target 2.000

-Next buy target - 2.0600

 

GBP/AUD has been rising steadily in the last few trading sessions – following the earlier breakout of the major round resistance level 2.000 (which stopped the previous intermediate impulse (1) in February and which was set as the buy target in our previous forecast for this currency pair). The price earlier reversed up with the daily Morning Star from the support zone between the support level 1.9700 and 38.2% Fibonacci Correction of previous impulse from May.

 

GBP/AUD is likely to rise further inside the active impulse wave 3 toward the next buy target 2.0600 (target price for the completion of the active impulse wave (iii)).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/GBPAUD%20-%20Primary%20Analysis%20-%20Jun-19%200934%20AM%20(1%20day)%20650.png

 

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NZD/USD:sell target – 0.6800

19 June 2015

 

By: Dima Chernovolov

 

-NZD/USD falls inside impulse waves 3 and (5)

-Next sell target – 0.6800

 

NZD/USD has been falling strongly in the last few trading sessions – following the earlier breakout of the strong resistance level 0.7200 (which was later retested with the Evening Star) and the lower support trendline of the extended daily down channel from last October (as you can see from the daily NZD/USD chart below). Each of these support breakouts intensified the bearish pressure on NZD/USD.

 

NZD/USD is likely to fall further inside the active impulse waves 5 and (3) toward the next sell target 0.6800. The pair is likely to correct up after reaching this support level.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/NZDUSD%20-%20Primary%20Analysis%20-%20Jun-19%200940%20AM%20(1%20day)%20650.png

 

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GBP/CAD: buy targets - 1.9560 and 1.9800

22 June 2015

 

By: Dima Chernovolov

 

-GBP/CAD reached buy targets 1.9150 and 1.9400

-Next buy targets - 1.9560 and 1.9800

 

GBP/CAD recently broke above the resistance levels 1.9150 and 1.9400 – both of which were set as the buy targets in our previous forecast for this currency pair. The breakout of these resistance levels continues the active minor impulse wave 3 which started earlier this month – when the pair reversed up with the two daily Hammers from the support zone lying between the support level 1.8850 and 38.2% Fibonacci Correction of the previous impulse wave 1.

 

GBP/CAD is likely to rise further inside the active impulse 3 toward the next buy targets at the resistance levels -1.9560 (top of the previous intermediate (A)-wave) and 1.9800.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/GBPCAD%20-%20Primary%20Analysis%20-%20Jun-22%201000%20AM%20(1%20day)%20650.png

 

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GBP/USD: buy target – 1.6000

22 June 2015

 

By: Dima Chernovolov

 

-GBP/USD broke resistance level 1.5800

-Next buy target – 1.6000

 

GBP/USD has been rising strongly in the last few trading sessions – following the earlier breakout of the round resistance level 1.5000, which was set as the buy target in our previous report for this currency pair. The breakout of the resistance level 1.5000 intensified the bullish pressure on GBP/USD – helping the active minor impulse wave 3 break above the resistance level 1.5800 (top of the previous (A)-wave).

 

GBP/USD is likely to rise further inside the active minor impulse wave 3 toward the next buy target at the round resistance level 1.6000. Strong support remains at 1.5800.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/GBPUSD%20-%20Primary%20Analysis%20-%20Jun-22%201003%20AM%20(1%20day)%20650.png

 

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Forex Analytics

 

Trading plan for June 23

 

Kira Iukhtenko

 

https://www.youtube.com/watch?v=vm__p7pGk60

 

EUR/USD consolidates in the 1.1300/1.1400 range. Next resistance lies at 1.1430 and 1.1465. Strong sell orders are clustered around 1.1500 – for now the markets lacks energy to break higher. Support is seen at 1.1250. Monday’s Eurogroup meeting didn’t bring any progress. Next “Greek” date on the schedule – June 25 Eurogroup meeting. On Tuesday watch the euro zone’s PMI’s – forecasts are mostly upbeat.

 

GBP/USD retraces lower following a 2-week rally. The pair faced resistance at 1.5900. Break below 1.5800 would open the way to 1.5550 – this where the next support is seen. There are no news on the UK agenda on Tuesday, so all eyes on the US releases tomorrow: core durable goods orders and Manufacturing PMI.

 

AUD/USD failed to break above 0.7800 and gave up some ground on Monday. Decline below 0.7660 would pave the ground for a sharper decline. Watch the Chinese HSBC Manufacturing PMI on Tuesday – the index is expected to stay below 50.

 

USD/JPY bounced from 122.40 support. Strong buying power is clustered on these levels. We expect the price to fluctuate towards 124.00.

 

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Danske Bank: trade signals for June 23

 

Open positions:*

 

EUR/JPY: Hold SHORT at 139.90, TAKE PROFIT 137.99, STOP LOSS 140.75

 

EUR/GBP: Hold SHORT at 0.7211, TAKE PROFIT 0.7014, STOP LOSS 0.7271

 

EUR/CHF: Hold LONG at 1.0450, TAKE PROFIT 1.0591, STOP LOSS 1.0395

 

EUR/CAD: Hold LONG at 1.3850, TAKE PROFIT 1.4225, STOP LOSS 1.3690

 

GBP/JPY: Hold LONG at 191.00, TAKE PROFIT 197.45, STOP LOSS 193.42

 

NZD/USD: Hold SHORT at 0.6970, TAKE PROFIT 0.6795, STOP LOSS 0.6990

 

Trade signals:

 

GBP/USD: BUY at 1.5710 (revised), TAKE PROFIT 1.6022, STOP LOSS 1.5643

 

USD/CAD: BUY at 1.2285, TAKE PROFIT 1.2442, STOP LOSS 1.2205

 

EUR/USD: Possibly BUY

 

USD/JPY: Possibly SELL

 

USD/CHF: Possibly SELL

 

AUD/USD: Possibly SELL

 

________________________________________________________________

 

*Danske Bank applies trailing stop orders (moved together with the price)

 

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USD/CAD: buy target – 1.2400

23 June 2015

 

By: Dima Chernovolov

 

-USD/CAD reversed from support zone

-Next buy target – 1.2400

 

USD/CAD recently reversed up sharply from the support zone lying at the intersection of the multiple support levels: the lower daily Bollinger Band, the support level 1.2200, the 61.8% Fibonacci Correction of the previous sharp intermediate impulse (1) from May and the former resistance trendline of the recently broken daily down channel from March (acting as support now after it was broken).

 

The upward reversal from this support zone completed the previous intermediate ABC correction (2). USD/CAD is likely to rise further toward the next buy target 1.2400.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/USDCAD%20-%20Primary%20Analysis%20-%20Jun-23%200958%20AM%20(1%20day)%20650.png

 

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GBP/JPY: buy target - 198.00

23 June 2015

 

By: Dima Chernovolov

 

-GBP/JPY reached buy target 194.00

-Next buy target - 198.00

 

GBP/JPY recently broke sharply above the resistance level 194.00 (which was set as the buy target in our previous forecast for this currency pair). The breakout of this resistance level was preceded by the breakout of the upper channel line of the wide weekly up channel from last year. The breakout of the resistance level 194.00 intensified the bullish pressure on GBP/JPY – accelerating the active minor impulse wave 5 of the intermediate ©-wave from April.

 

GBP/JPY is likely to rise further toward the next buy target 198.00 (target price for the completion of the active wave ©).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/GBPJPY%20-%20Primary%20Analysis%20-%20Jun-23%200953%20AM%20(1%20day)%20650.png

 

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Forex trading plan for June 24

 

 

https://www.youtube.com/watch?v=llans8INNe0

 

US durable goods orders figures released today were mixed. On the one head, core reading increased after previous decline, but on the other head, headline figure came out much lower than expected. Still, the overall sentiment about the American currency is positive as the FOMC member Powell gave hawkish comments saying that the, who suggested liftoff could come as soon as September.On Wednesday the US will release final Q1 GDP reading. A revision from -0.7% to -0.2% is expected. The expectations may provide the greenback with further support.

 

EUR/USD slid to 1.1170 despite improved manufacturing activity in the euro area. Support is at 1.1150 and 1.1070/50. European and Greek authorities will keep negotiating on Wednesday with the aim to reach a critical compromise by the end of the day, so expect market-moving news and announcements. German Ifo business climate is due at 08:00 GMT.

 

The outlook for British pound looks negative after it Support for GBP/USD is at 1.5700 and 1.5640. Resistance is at 1.5815 and 1.5900. USD/JPY has resistance levels at 124.13, 124.44/60 and 125.00. Support is at 123.20/00 and 122.45.

 

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MARKET NEWS

 

Key option levels

24 June 2015

 

FXBAZOOKA.com - Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (15:00 GMT).

 

Here are the key options expiring today:

 

EUR/USD: 1.1130/40 (EUR 624m), 1.1180 (395m), 1.1200 (1.2bln);

 

AUD/USD: 0.7820 (AUD 220m);

 

USD/CAD: (1.2465 (USD 300m);

 

NZD/USD: 0.6960 (NZD 280m);

 

EUR/GBP: 0.7100 (EUR 220m);

 

EUR/JPY: 138.40 (EUR 443m).

 

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http://fxbazooka.com/en/news/show/2952

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Danske Bank: trade signals for June 24

 

Open positions:*

 

USD/JPY: Hold LONG at 123.75, TAKE PROFIT 125.05, STOP LOSS 123.19

 

GBP/USD: Hold LONG at 1.5710, TAKE PROFIT 1.5930 (revised), STOP LOSS 1.5643

 

EUR/JPY: Hold SHORT at 139.90, TAKE PROFIT 137.42 (revised), STOP LOSS 139.01 (revised)

 

EUR/GBP: Hold SHORT at 0.7211, TAKE PROFIT 0.7014, STOP LOSS 0.7271

 

EUR/CHF: Hold LONG at 1.0450, TAKE PROFIT 1.0591, STOP LOSS 1.0395

 

EUR/CAD: Hold LONG at 1.3850, TAKE PROFIT 1.4225, STOP LOSS 1.3690

 

GBP/JPY: Hold LONG at 191.00, TAKE PROFIT 197.45, STOP LOSS 193.42

 

NZD/USD: Hold SHORT at 0.6970, TAKE PROFIT 0.6795, STOP LOSS 0.6945 (revised)

 

Trade signals:

 

USD/CHF: BUY at 0.9280, TAKE PROFIT 0.9438, STOP LOSS 0.9224

 

AUD/USD: SELL at 0.7794, TAKE PROFIT 0.7533, STOP LOSS 0.7859

 

EUR/USD: SELL at 1.1235, TAKE PROFIT 1.1082, STOP LOSS 1.1301

 

USD/CAD: BUY at 1.2285, TAKE PROFIT 1.2442, STOP LOSS 1.2205

 

_________________________________________________________

 

*Danske Bank applies trailing stop orders (moved together with the price)

 

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Forex trading plan for June 25

 

Kira Iukhtenko

 

https://www.youtube.com/watch?v=ZIk7ziVZ9a8

 

US Dollar Index stands still after the Tuesday’s rally. United States released final Q1 GDP today – the reading as revised to the upside, but confirmed contraction (-0.2% vs. -0.7% prior). Markets await May consumption sector data on Thursday – forecasts are infusing with hope. You should also watch weekly jobless claims and Fed’s Powell and Tarullo members’ speeches tomorrow. We expect the dollar buying to resume.

 

EUR/USD growth attempts were capped by the 1.1230 mark o Wednesday. Renewed Grexit fears pulled the pair the 1.1200 mark. EU Economic Summit will take place in Brussels tomorrow. There still is a chance to reach a deal before the June 30 IMF payment deadline.

 

We expect EUR/USD to slide towards the 1.1050 support in the current uncertain environment. On the weekly chart the pair is forming a “bearish engulfing”. Medium-term downtrend seems to be resuming these days. Resistance lies at 1.1230 and 1.1400.

 

GBP/USD paused at the 1.5700 mark following a two-day selloff. Pound was supported by the mortgage approvals figures. However, we expect the decline to resume soon. Bearish target lies at 1.5550. We remain bearish below 1.5900.

 

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MARKET NEWS

 

Key option levels

25 June 2015

 

FXBAZOOKA.com - Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (15:00 GMT).

 

Here are the key options expiring today:

 

EUR/USD: 1.1000 (EUR 918m), 1.1115 (369m), 1.1130 (380m), 1.1200 (333m), 1.1215 (367m);

 

USD/JPY: 123.00 (USD 1.37bln), 123.50 (1.3bln), 124.30 (355m), 125.00 (265m);

 

USD/CHF: 0.9285 (USD 220m);

 

USD/CAD: 1.2450 (225m), 1.2480 (240m), 1.2520 (USD 787m);

 

AUD/USD: 0.7700 (AUD 388m);

 

NZD/USD: 0.6800 (NZD 1.17bln), 0.7200 (1.66bln).

 

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http://fxbazooka.com/en/news/show/2964

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