FxWirePro: USD/CNY outlook weaker on renewed downside pressure 
FxWirePro: EUR/CAD gaining momentum for a move towards 1.6250 level 
FxWirePro: USD/CNY outlook weaker on renewed downside pressure 
Euro Refuses to Die: EUR/JPY Holds 182.50, Eyes 184 Breakout 
FxWirePro: GBP/NZD firms as RBNZ pushes back on rate hike prospects 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: GBP/AUD consolidates around 2.0145, maintains bullish bias 
FxWirePro: GBP/AUD gives up early gains after UK GDP shock 
NZD/JPY: Bearish Momentum Builds — Sell the Rallies Below 90.90 for a Slide Toward 88.00 
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls 
Yen Strikes Back: AUD/JPY Retreats as BOJ Policy Looms – Sell on Rallies to 100 
FxWirePro: GBP/USD steadies ahead key data, BoE event risk 
FxWirePro: EUR/NZD advances as kiwi weakness after RBNZ's Breman comments 
FxWirePro- Major Pair levels and bias summary 
CAD/JPY Dips on Soft Canadian CPI: Buy the Dip to 115? 
FxWirePro- Woodies Pivot(Major) 
The bulls in this pair have been spiking from last 4 days in the major downtrend from the lows of 111.068 to the current 116.270 levels.
Why are we calling the major trend as bearish? You may probably understand if you look at slightly longer time frame charts (i.e. weekly and monthly graphs), despite these upswings the current prices EMAs.
Moreover, an “inverted saucer pattern” has been traced out on weekly plotting that is now on the verge of extension, the price declines up to 115.502 levels up to is quite possible.
Prior to this, bears have managed to break below the baseline of falling wedge formation (see again on the weekly graph).
The break below 120.478 brings in a more bearish environment, the current prices remain well below EMAs, and the downtrend is in conformity to both leading & lagging indicators, any abrupt upswings shouldn't panic.
MACD is also not deviating from this bearish stance, it’s been oscillating below zero level which is a bearish trajectory since the end of 2014.
Currently, on weekly and monthly plotting RSI (14) has been converging downwards according to the price declines to signify anytime the momentum in selling pressures can be back in business.
The most probable scenario would be that it may retest 109 levels as a next strong support again.
Hence, using these deceptive rallies, it is smart to stay short in this pair via a synthetic long put is created when short underlying spot positions are pooled with an ATM long call of the same series.
The synthetic long put is so termed as these positions have the same payoff potential as long put.
The strategy breaks even when the underlying spot price has declined by an amount equal to the premium paid for the option on expiration. So, breakeven would be the initial short price - premium paid on call.
An increase in volatility would have a positive impact on this strategy, all other things equal. For one thing, it would tend to boost the long call option's resale value.
