Quote of the day:“Consistency is the last refuge of the unimaginative.” ~ Oscar Wilde
Good morning. Euro is now trading above 1.3700 against the greenback, taking a breath after last week’s decline. Last 3 daily candles are suggesting that current recovery is likely to continue as there’s enough room for a correction to the upside and first important resistance levels are 1.3830/50 and 1.4000. I, for one, remain bearish on EURUSD and will continue to look for more signs of weakness in the coming days.
Let’s see if there are any interesting setups to watch:
EURUSD
Can’t say it’s the best option to buy the dip but it’s definitely worth to wait some more until testing key resistance levels which should provide some better selling levels.
Euro Vs US Dollar Chart Daily 9-15-2011
EURGBP
Ok, this one is looking quite good – as I wrote yesterday, I remain bullish on EURGBP as long as it holds above .8600-.8650 which was easily breached, and so was the 50% retracement value of last down leg. Now it is trading pips away from the 61.8% and pullbacks are modess – recovery is quite strong. It’s best to look for buying opportunities either on a dip towards former resistance @ 50%/.8675 or a break above .8725
Euro vs British Pound Chart 4hrs 9-15-2011
EURAUD
This is one of the rare occasions when the EUR is performing better than AUD as the Aussie is taking a beating across the board following the equity indices. I remain bullish on EURAUD and the breakout of 1.3230/50, as highlighted in my report two days ago, was a good plan to consider. I think there’s more upside action to be seen here – 1.38-1.40 probably being the major resistance zone where the bears are waiting.
Euro vs Australian Dollar Chart Daily 9-15-2011
AUDNZD
Nice setup on AUDNZD as yesterday’s candle signals a buying opportunity. There are two levels worth watching for a potential long entry here: 1.2480/00 if price pulls back to retest support which is also the 50% retracement of yesterday’s rally and second – 1.2550 if price doesn’t retreat and the recovery continues
Australian Dollar VS New Zealand Dollar Chart Daily 9-15-2011
have a great day and good luck trading!
thanks!
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