EURUSD
Trading strategy: stand aside
Downside is under pressure after the NFP release which came slightly better than expected – at -216k vs consensus of -220k. Price action suggests more downside action since forming the lower highs covered by the falling trend line seen on the 4 hrs chart below. 1.4200 provides the first intra-day support level and a potential break could favor further dollar strength to 1.4050. On the upside, the trend line around 1.4330 forms the first upside barrier, followed by the recent top side at 1.4400. Current exchange rate is 1.4217 @13:05 GMT
Support: 1.4200, 1.4150 and 1.4050
Resistance: 1.4300, 1.4330 and 1.4400
- EUROUSD 4 hrs chart 9-4-2009
USDJPY
Trading strategy: stand aside
The same old trend line coming from 96.75 on the 4 hrs chart is under pressure while writing this. Intra-day sentiment is bullish and price action suggests a potential break above 93.00. On the short term charts, there’s still a long way until a potential reversal confirmation but today’s odds are favoring the North. On extended weakness, support comes at 92.50 then 92.00/25. Current exchange rate is 92.90 @13:05 GMT
Support: 92.50, 92.00/25
Resistance: 93.00/10, 93.50 and 94.00
- USDJPY 4 hrs chart 9-4-2009
Since there’s too much volatility for my liking, I call it a day – the sun outside calls for a walk in the park. I wish you all a great weekend!
