USDCHF retracing some of the losses made from the September highs to the October lows, the pair rallied from the October lows, retracing 61.8% of the move. Bias remains to the upside for a continuation of latest rally as long as the pair is trading above 0.9092; the preferred strategy is buying deeps as long as the market is above these levels. A break below would be a bearish signal.
GBPJPY touching the 159.18 level again yesterday, the monthly highs posted last week on the 7th. The pair couldn’t break the monthly high as sellers emerged at these levels sending the pair down and eventually closing lower at 158.42. Bias still remains to the upside only a break below 157.38 would shift bias to the downside, targeting 156.74 next.
USDCAD posted a new monthly high yesterday as the pair touched levels of 1.0565. Level that served as resistance in early September as well. The pair made a nice rally from the October lows, a move of nearly 240 pips, but momentum seems to be weakening. Significant support is at 1.0443 and a break below would be a bearish signal. As long as the pair is trading above this levels bias remains to the upside for a test of the monthly highs followed by 1.0540 next.