Charts to End the Week: NFP Day is Here

Good morning. Euro climbed higher against the US dollar after ECB’s Draghi comments on preserving euro. The market is currently quiet – awaiting NFP later today.

EURUSD

My previous plan to sell into rally to 1.29 wasn’t the best idea, so I’m rather looking for buying opportunities now that resistance at 1.2900 was breached

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

Potential trade strategy: to buy dips at 1.2950, target at 1.3050

EURUSD 4hrs 10-5-2012

EURUSD 4hrs 10-5-2012

GBPAUD

GBP holds gains and it seems there’s only one way it can go: upwards

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

Potential trade strategy: to hold long while above 1.5600, short-term target at 1.6

GBPAUD daily 10-5-2012

GBPAUD daily 10-5-2012

GBPCAD

Support around 1.5850 is still under pressure as weak recovery attempts are short-lived. Last couple of candles confirm the bearish sentiment, suggesting more downside

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

Potential trade strategy:hold short or sell below 1.5850, target at 1.56

GBPCAD daily 10-5-2012

GBPCAD daily 10-5-2012

AUDUSD

Aussie dollar found support again at 1.0200 but the recovery is quite weak, and it’s probably corrective in nature. Therefore, it’s a good idea to continue monitoring this support level – especially if the NFP & unemployment data comes worse than expected – which would cause a risk-off decline

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

Potential trade strategy: to sell on breakdown below 1.0200, short-term target at .9800

AUDUSD daily 10-5-2012

AUDUSD daily 10-5-2012

NZDUSD

Pretty much the same story as Aussie’s, as these two pairs are correlated.

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

Potential trade strategy: to sell on breakdown below .8200, target at .8000

NZDUSD 4hrs 10-5-2012

NZDUSD 4hrs 10-5-2012

Silver

Resistance at 35 is under high pressure as silver holds gains and it seems to be waiting for a catalyst to push it higher. Perhaps NFP might do the trick

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

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

Silver daily 10-5-2012

Silver daily 10-5-2012

have a great weekend!

3 thoughts on “Charts to End the Week: NFP Day is Here

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