EURUSD Outlook

- Price is stalling at confluence of 161.8 extension for the penultimate swing high and 61.8 retracement for the move from 1.428 to 1.2970
- Ascending triangle break on the downside has been retested and failed with an engulfing candle, indicating bearish momentum
- Price now looks likely to continue the breakout short towards the 127 extension of the recent range with potential for the recent range break resistance turned support to act as a longer term target around 1.3430

Suggested Levels:
Sell above 1.37
Stop 1.3830
1st Target 1.3508
2nd Target 1.3485

 * * Chart Source: eBridge Trader

GBPUSD Outlook

- Price has found resistance at the 161.8 extension of the recent range and the 261.8 extension of the previous swing.
- Spike high indicates unwillingness for price to move higher with the engulfing close below previous day low showing signs of downside momentum.
- Potential for UK home prices to show further contraction at 7pm AEST is high.
- Potential for US unemployment figures at 12.30am Saturday AEST to surprise on the positive side is also high.

Suggested Levels:
Sell above1.6180
Stop 1.6220
1st Target 1.6055
2nd Target 1.5920


 * Chart source: eBridge Trader

For more information please visit or call the dealing desk on +61 3 8662 4009

These recommendations are current as at the date of issue. Past performance is no guarantee or reliable indication of future results. Trading in derivatives may involve a high degree of risk and significant loss, and is appropriate only for persons who can assume risk of loss in excess of funds deposited. This recommendation is of the nature of general information only and must not in any way be construed or relied upon as legal, financial or professional advice. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of any investment for your circumstances. Although the information in this recommendation has been obtained from sources considered and believed to be both reliable and accurate no responsibility is accepted for any opinion expressed or for any error or omission that may have occurred herein Alpha Equities and Futures Limited AFSL 327075 | ABN 76 131 376 415. Alpha Equities & Futures Pty Ltd AFSL: 327075 ABN: 76 131 376 415AFSL 327075 Alpha Equities and Futures Limited AFSL 327075 | ABN 76 131 376 415 Alpha Equities and Futures Limited AFSL 327075 | ABN 76 131 3