NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92 
FxWirePro: GBP/NZD retreats slightly but trend is still bullish 
FxWirePro- Major European Indices 
FxWirePro: GBP/AUD moves lower on weak UK data 
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains 
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185 
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish 
FxWirePro- Major Pair levels and bias summary 
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116 
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K 
FxWirePro: GBP/USD dips lower on negative UK retail sales data 
FxWirePro: USD/ZAR edges higher but bearish outlook persists 
FxWirePro- Woodies Pivot(Major) 
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook 
EURUSD has been extending the prevailing downtrend upon head & shoulder patterns with head at 1.1239, shoulder 1 at 1.1135 and shoulder 2 at 1.1172 levels, while both leading & lagging oscillators are in line with the price slumps.
The prices remain under pressure after breaking 1.1070 channel support. Focus now turns to the more important 1.0980 pivot support region, as a break there will suggest the gains from last year’s 1.0880 lows is merely another correction and we re-test that support area at some stage.
Otherwise, we need to see a recovery through 1.1055-1.1090 resistance to alleviate the downside pressure and take us back to an upper range.
On a broader perspective, we perceive the pullback from 1.2600 as corrective and look for a higher low over the 2017 1.0340 lows, ideally in the 1.09 to 1.08 region.
While we are optimistic that the low was set in October at 1.0879, we don’t have full confirmation yet. A decline through 1.0980 medium-term support would increase risks that we re-test those lows.
Accordingly, we advocated directional positions for EURUSD couple of days ago, we now continue to uphold the strategy on hedging grounds.
The Strategy: At spot reference: 1.1000 levels (while articulating), contemplating above technical rationale, one can execute boundary options strategy. Such exotic option with upper strikes at 1.1021 and lower strikes at 1.0990 levels likely to fetch exponential yields than the spot moves.
Alternatively, we recommend shorts in EURUSD futures of Feruary’20 delivery for the major downtrend, simultaneously, longs of April deliveries. The short leg is likely to hedge potential slumps and any abrupt upside risks could be arrested by the long leg. Thereby, one could be able to directionally position in their FX exposures on hedging grounds.
