Charts to Start the Week

Good morning. Euro holds gains and is flirting with $1.2600 since a week ago.

EURUSD

Market sentiment: intraday – slightly bearish, short-term – bullish

Potential trade strategy: to buy dips around 1.2530, stop below 1.2470, target at 1.2650

EURUSD 4hrs 9-3-2012

EURUSD 4hrs 9-3-2012

GBPUSD

Cable remains bullish after recent breakout above 1.5750 but has found resistance at 1.59 – formed by the 62% fib of the entire decline from 1.63 to 1.5260. Buying dips near support zone or on a break above the 62% are two plans to consider.

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to buy dips at 1.5770-1.58, target above 1.59; to buy on breach of 1.59, target at 1.61

GBPUSD daily 9-3-2012

GBPUSD daily 9-3-2012

AUDUSD

Aussie dollar keeps falling against the greenback and selling into minor rallies is one of the best things to do these days

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell on pullback to 1.0320/50, target at 1.01

AUDUSD daily 9-3-2012

AUDUSD daily 9-3-2012

AUDNZD

Another candidate on the bearish watchlist is the AUDNZD, which is likely targeting 1.2670

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell on pullback to 1.2860, target at 1.2670

AUDNZD daily 9-3-2012

AUDNZD daily 9-3-2012

EURJPY

EURJPY is trading sideways in a 100-point range but remains slightly bullish on short-term basis.

Market sentiment: intraday – neutral, short-term – bullish

Potential trade strategy: to buy dips at 98, target at 99. Secondary strategy is to buy on strength above 99, target at 101

EURJPY 4hrs 9-3-2012

EURJPY 4hrs 9-3-2012

have a great day

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