Good morning. The euro and risk currencies such as AUD rallied yesterday after the ECB meeting. Euro is currently holding gains above $1.2600, being ready for another leg up to $1.27 – $1.28. Most important economic event today is the US NFP data release
EURUSD
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to hold long, target at 1.28
EURUSD daily 9-7-2012
4-hrs chart:
EURUSD 4hrs 9-7-2012
EURJPY
Euro exited the consolidation range, providing a nice breakout trade opportunity. Next target is at 101-101.50
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to hold long, target at 101
EURJPY daily 9-7-2012
AUDJPY
Aussie dollar bounced off support around 79.50 in risk-on trade and it seems to aim toward 82.50 which is the next barrier
Market sentiment: intraday – bullish, short-term – mixed
Potential trade strategy: none
AUDJPY daily 9-7-2012
AUDUSD
Both interim resistance levels have been breached and is time to keep an eye on the 3rd one, at 1.0350. Selling on pullbacks from recent lows to current levels wasn’t a good idea, so it’s probably time to wait for a breakout trade opportunity
Market sentiment: intraday – bullish, short-term – mixed
Potential trade strategy: to buy on break above 1.0340/50, target at 1.0500
AUDUSD 4hrs 9-7-2012
USDCAD
Resistance connecting recent lower highs remained intact after yesterday’s test and the US dollar declined below bottom support around .9850, which is now a potential sell point in case of pullback
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to .9850, target at .9750
USDCAD 4hrs 9-7-2012
have a great day!
