Good morning. Sorry for the lack of updates, but I’ve been out of country for 1 week. Let’s see what are some of the interesting charts today
EURUSD
Corrective cycle continues as EUR retests support at 1.2920, followed below by 50% and 62% fib retracement values – an area where buying dips seems a good idea
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to buy dips at 1.2850, target at 1.30
EURUSD daily chart 9-24-2012
EURGBP
Support around .7960 is in focus as EUR is losing ground against the British pound. It’s about time to see whether this decline from the .8100 zone is corrective or not.
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to buy dips at .7960, target at .8100
EURGBP chart daily 9-24-2012
GBPAUD
It looks that a breakout is just around the corner
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy on rally above 1.5600, target at 1.5900
GBPAUD chart 4hrs 9-24-2012
AUDJPY
Aussie dollar trades lower in risk-off trade, retesting trendline support near 81. Upside is still favored on a short-term basis, although AUD seems to walk on thin ice.
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to sell on break below 81, target at 80
AUDJPY 4hrs chart 9-24-2012
USDCAD
US dollar is recovering against its Canadian counterpart but is still far from looking ‘good’ (bullish).
Market sentiment: intraday – bullish, short-term – bearish
Potential trade strategy: to sell at .9840/50, target at .9700
USDCAD daily chart 9-24-2012
have a great day
