Good morning. Euro holds gains around $1.2500 at time of writing and more upside action is likely, as next barrier is formed at $1.2700.
EURUSD
Market sentiment: intraday – slightly bearish, short-term – bullish
Potential trade strategy: to buy dips at 1.2440/50, stop below 1.2400, target at 1.2650
EURUSD daily 8-27-2012
hourly chart:
EURUSD hourly 8-27-2012
AUDCAD
Support at 1.0300 was breached as AUD resumed decline after finding offers in the 1.04 area.
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 1.0300/30, target at 1.0150
AUDCAD daily 8-27-2012
AUDUSD
AUD turned bearish on short-term basis after support at 1.0440/50 has been breached. Selling into rallies seems a good idea, for now
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell into rally to 1.0440, target at 1.0300
AUDUSD daily 8-27-2012
AUDJPY
Aussie dollar failed to hold above 83.20 and exited the consolidation range to the downside, decoupling from S&P500, as AUD is weakening across the board.
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 82.40, target at 80
AUDJPY daily 8-27-2012
have a great day!
Bank holiday in the UK today so markets would be running thin. I'm taking a trading day off. :)
I agree with all your resistance points, I think it is going up to there as well