WorldBestPortfolio.com has released our analysis for 18 May 2010. Please read this post for more on our take on today’s market.
GBPCHF
GBPCHF is finding support at 1.63000. Its beginning to trade within the range of support at 1.6300 and 1.7000.
With the recent “false break down”, breaking below 1.6300 only to be brought back into the range after reaching 1.5800, we could see the pair continue consolidating within the support and resistance.
Possible TP points could be 1.6600 or even 1.7000.
The alternate scenario should see the pair breaking below 1.6300 and falling down to 1.5800, the low of that recent false break down.
AUDUSD
AUDUSD is trading between support at 0.87293 and resistance at 0.93841.
The daily candle stick on 17 May 2010 showed alot of support at this level.
Should this support remain strong, it gives AUDUSD a very profitable run up to the resistance.
The alternate scenario could see it drop to 0.85653, however unlikely to fall to even lower levels.
A long position on AUDUSD will give a positive SWAP return on most brokers.
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