When a thought is too weak to be expressed simply, it should be rejected. ~ Marquis de Vauvenargues
Good morning. Not much happened since price stalled after Wednesday’s risk rally and not much is likely to happen until later today, when the NFP data will be published. Consensus is +120k.
USD Index
Support at 78 is intact as price is quietly consolidating ahead of jobs data. In case of a break of said support, short-term sentiment will turn bearish
USD Index Chart Daily 12-2-2011
EURUSD
A consolidation range between 1.3430/50 and 1.3500/15 is formed and it seems to be narrowing. 1.36 is next important barrier, above 1.35
Euro Vs US Dollar Chart Hourly 12-2-2011
AUDNZD
Scanning through current charts, I found AUDNZD which is quite interesting. This is the second consolidation period after it reached fresh highs and there’s a good chance that uptrend is running out of steam. In case it does, selling on the break of support at 1.3050/60 is a plan I’m considering
Australian Dollar Vs New Zealand Dollar Chart Daily 12-2-2011
AUDJPY
Upside remains favored as equities continue to climb higher following Wednesday’s coordinated intervention. No reason to sell it yet as there’s no signal to suggest that.
Australian Dollar Vs Japanese Yen Chart Daily 12-2-2011
GBPCHF
Rumors of interventions continue to kick the CHF every time it gains ground – retesting recent bottoms against the EUR, GBP etc. Trading against a central bank’s plan is not the best idea. The house always wins. So, buying on the break of 1.44 looks like a good plan these days
British Pound Vs Swiss Franc Chart 4hrs 12-2-2011
Have a great day and a nice weekend!
AUDJPY- Looks like a W formation. If it is W then we might see some selling opportunity pretty soon. What Ya say?
it all depends on what the croupiers.. sorry, I mean the central bankers are up to. AUDJPY follows equities and equities are up due to their coordinated intervention. Well, someone doesn't like to see equities (AUD respectively) down, so the selling opportunities I'd look for are rather on weakness, if the free-fall resumes. I wouldn't sell at highs
nice range to be selling eurusd against upside correction between 1.3540 and 1.3440….
guess all those resistances working now…got kicked from the top
divergences still working…wouldnt be surprised if it closes just around 1.3350 today for the relaxed weekend..
regards http://www.4xforecasts.com
divergences still working…
Yes indeed.
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