Charts to Start the Week

Good morning. Euro rallied on Friday after the NFP data release, reaching $1.28 against the US dollar. Other risk currencies such as AUD followed the EUR higher. What’s also interesting these days is that EURCHF started moving, rallying 150 points before pulling back to 1.2070-1.21 where it is trading now.

EURUSD

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

Potential trade strategy: to buy dips at 1.2700, stop below 1.2630, target at 1.29

EURUSD daily 9-10-2012

EURUSD daily 9-10-2012

4hrs chart:

EURUSD 4hrs 9-10-2012

EURUSD 4hrs 9-10-2012

EURGBP

Resistance at .7950/60 was breached and is now poviding short-term support, hence a buying level to consider

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

Potential trade strategy:to buy dips at .7950, target at .8200

EURGBP daily 9-10-2012

EURGBP daily 9-10-2012

EURJPY

Euro climbed higher after last week’s breakout above 99 and 101 remains the first important target.

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

Potential trade strategy: to hold long, target at 101

EURJPY daily 9-10-2012

EURJPY daily 9-10-2012

AUDUSD

Aussie dollar faced resistance at 61.8% fib retracement after a strong recovery, but upside remains favored while 1.0280 is not threatened

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

Potential trade strategy: to hold long while above 1.0250/80, target at 1.0500

AUDUSD 4hrs 9-10-2012

AUDUSD 4hrs 9-10-2012

S&P500

S&P500 breached above 1415 resistance, a level which is now providing support. Buyers are in control – no doubt about that

SPX daily 9-10-2012

SPX daily 9-10-2012

EURCHF

I think it is a bit too early to consider any trades on EURCHF, as current moves could be only temporary. However, it’s definitely worth to keep an eye on this pair in the coming days

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

Potential trade strategy: none

EURCHF 4hrs 9-10-2012

EURCHF 4hrs 9-10-2012

have a great day!

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>