Good morning. The euro is retesting support formed by the fib range between 1.2770 and 1.2840, after a failed attempt to recover above 1.29 on Friday. Some of the most important economic events this week are: Bernanke’s speech later today, ECB’s rate decision on Thursday and the NFP on Friday.
EURUSD
Market sentiment: intraday – bullish, short-term – neutral
Potential trade strategy: none
EURUSD 4hrs 10-1-2012
GBPAUD
Resistance around 1.5600 is again under pressure after a weak pullback on Friday which rather confirms current bullish sentiment.
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy on breakout above 1.5600, short-term target at 1.6
GBPAUD daily 10-1-2012
GBPCAD
Last weak’s bearish candle seems to be accurate as the decline continues and support at 1.5850 is being tested.
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to hold short, target at 1.56
GBPCAD daily 10-1-2012
EURJPY
Support around 100 is still intact but the pressure is quite high. Selling on the potential breakdown below this support level is tempting
Market sentiment: intraday – bullish, short-term – bearish
Potential trade strategy: to sell on breakdown below 99.80, target at 98.50
EURJPY 4hrs 10-1-2012
CADCHF
.9580 is in focus and a breakout is likely. I think this setup si worth watching in the next few days
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy on breakout above .9580, short-term target at .9700
CADCHF 4hrs 10-1-2012
NZDUSD
The Kiwi dollar is retreating after a failed attempt to breach top side resistance.
Market sentiment: intraday – bearish, short-term – slightly bullish
Potential trade strategy: to buy dips around .8200, target at .8300
NZDUSD 4hrs 10-1-2012
Silver
Trendline support coming around 33.90 is the 1st support to keep an eye on. I remain bullish on silver
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to buy dips at 33.90, target at 35+
Silver 4hrs 10-1-2012
have a great day!
