Charts to End the Week

EURUSD

Good morning. Euro is currently recovering some ground after it found support at the 50% fib retracement value, around 1.2840.

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to hold long, target at 1.31

EURUSD 4hrs 9-28-2012

EURUSD 4hrs 9-28-2012

GBPCAD

A reversal candle was formed yesterday, so it’s likely to see more weakness developing in the coming sessions. 1st support to keep an eye on is around 1.5850

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to sell at 1.5920, target at 1.5800/20

GBPCAD daily 9-28-2012

GBPCAD daily 9-28-2012

EURAUD

It’s pretty obvious that AUD is a better performer than EUR these days, and that’s why this breakdown looks good so far.

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell at 1.2370, target at 1.2200

EURAUD 4hrs 9-28-2012

EURAUD 4hrs 9-28-2012

CADCHF

Resistance at .9580 is still intact but it seems that price is pushing higher, about to retest it. Buying on the break higher is one thing to consider

Market sentiment: intraday – bullish, short-term – bearish

Potential trade strategy: to buy on break of .9580, target at .9680

CADCHF 4hrs 9-28-2012

CADCHF 4hrs 9-28-2012

AUDJPY

AUDJPY is currently testing resistance formed by former support trend line. Will it break?

Market sentiment: intraday – bullish, short-term – bearish

Potential trade strategy: none

AUDJPY chart 4hrs 9-28-2012

AUDJPY chart 4hrs 9-28-2012

Silver

Resistance at 35 is again in focus as silver is climbing higher, after it found support around 33.50.

Market sentiment: intraday – bullish, short-term – bearish

Potential trade strategy: to buy on break of 35, target at 37

Silver 4hrs 9-28-2012

Silver 4hrs 9-28-2012

have a great weekend

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