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
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
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
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
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
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
have a great weekend!
good job hope next time you show domthing about gold , have anice weekend
Good Job report may be USD negative. On the other hand, it means less future QE
technical char really help. we get an idea for up-down signal.