Friday Charts

Good morning. I made a few changes to the site and it should load faster now.
Here are some charts worth a look today. Don’t forget it’s the NFP day (consensus: 184K)

EURUSD

Uptrend is losing steam after a good run started at $1.28. Intraday studies are currently bearish and it’s time to keep an eye on first support, at 1.3170.

Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to buy dips at 1.3150, stop below 1.3100, target at 1.3300

EURUSD 4hrs 8-2-2013

EURUSD 4hrs 8-2-2013

Here is a (zoomed-out) daily chart to see those nice trendlines. As noticed, resistance is again in-focus and a potential breakout would be a strong bullish sign for the EURUSD

EURUSD daily 8-2-2013

EURUSD daily 8-2-2013

AUDJPY

The Aussie dollar has failed to recover past 93 in July and slipped below 89 two days ago. But yesterday’s reversal candle may suggest that a recovery is due

Market sentiment: intraday – bullish, short-term – bearish
Potential trade strategy: to buy on break of 89.10, stop below 87.50, target at 92.10

AUDJPY daily 8-2-2013

AUDJPY daily 8-2-2013

AUDNZD

more or less the same story: maybe it’s time for a recovery above interim resistance

Market sentiment: intraday – neutral, short-term – bearish
Potential trade strategy: to buy on break above 1.1335/50, stop below 1.1300, target at 1.1500

AUDNZD 4hrs 8-2-2013

AUDNZD 4hrs 8-2-2013

have a great weekend

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