Good morning. Here are some interesting breakout trading setups to keep an eye on:
USDCHF
Resistance at .9650 became a reasonable target now that USD recovered more than half of last week’s post-EU Summit losses. Should euro’s decline continue in the enxt sessions, a breakout above .9650 would become reality
Market sentiment: intraday – bullish, short-term – slightly bullish
USDCHF daily 7-5-2012
EURUSD
1.2570 support has been breached and it’s probably a good idea to expect more selling pressure around the said level, in case EUR pulls back to the upside
Market sentiment: intraday – bearish, short-term – bearish
EURUSD hourly 7-5-2012
USDJPY
Upward trenline connecting previous higher-lows is in focus and a plan I’m considering is to sell on the potential breakdown below that level
Market sentiment: intraday – bearish, short-term – neutral
USDJPY 4hrs 7-5-2012
NZDUSD
Consolidation is still in progress, in a tight range below .8060 resistance. So a potential breakout above that level is still in the cards.
Market sentiment: intraday – slightly bullish, short-term – bullish
NZDUSD daily 7-5-2012
AUDUSD
The Aussie dollar seems to be looking for a reason to push it upward towards 1.0450 where next resistance is formed. I remain bullish for now, expecting 1.0215/20 to hold
Market sentiment: intraday – slightly bullish, short-term – bullish
AUDUSD 4hrs 7-5-2012
AUDNZD
Resistance zone is in focus as AUD is recovering against the Kiwi dollar.
Market sentiment: intraday – neutral, short-term – slightly bullish
AUDNZD 4hrs 7-5-2012
EURJPY
Median support is being tested again as EUR is losing ground against most counter-parts. A potential breakdown should favor further weakness towards 99 (next support)
Market sentiment: intraday – bearish, short-term – bearish
EURJPY hourly 7-5-2012
have a great day
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Any thoughts on A/J?? I set a long at the break of resistance ~ 82.50. The clearest view is on the daily and weekly chart imo. :)
it's the same as AUDUSD. Yeah, a good candidate for a nice breakout