After Greece’s issue has achieved initial success and Iranian nuclear issue’s new progress, risk incident in the market have been considerably released, which has lowered the risk-aversion emotion in the market. According to the data released by CFTC on Friday, investors has increased long position for the USD, hitting the high limit for the past five weeks. For this reason, non-USD currencies are facing great pressure when going up.
EUR/USD
The EUR/USD pair is in a bearish trend, which provides us buying put opportunity. Resistance is found at 1.0860/1.0900 and support at 1.0800/1.00750.
USD/JPY
Since the USD/JPY pair continues to bounce around with consolidation, we are buyers of put option. Resistance is found at 124.30/124.60 and support at 123.80/125.50.
GBP/USD
As the GBP/USD pair has shown a sign of bearish momentum, we like buying put option. Resistance is found at 1.5630/1.5680 and support at 1.5560/1.5500.
[Tips]
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