Midweek Charts That Matter

Good morning. Euro is trading lower across the board before the ECB meeting tomorrow.

EURUSD

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

Potential trade strategy: to buy around 1.2530 or around 1.2480, short-term target at 1.2630/50

EURUSD 4hrs 9-5-2012

EURUSD 4hrs 9-5-2012

EURJPY

EURJPY is still trading sideways in a horizontal channel. The channel support is now under pressure and there’s a good chance that it will remain intact, in my opinion

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

Potential trade strategy: to buy around 98, target at 99

EURJPY 4hrs 9-5-2012

EURJPY 4hrs 9-5-2012

AUDJPY

Aussie dollar continues to lose ground and is approaching support at 79.50

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

Potential trade strategy: none

AUDJPY daily 9-5-2012

AUDJPY daily 9-5-2012

AUDCAD

Parity level is again in focus and it is probably a good idea to look for a buying opportunity there

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

Potential trade strategy: to buy at 1.000, stop below .9940, target at 1.0200

AUDCAD daily 9-5-2012

AUDCAD daily 9-5-2012

AUDUSD

Intraday resistance is now formed around 1.0230, so that’s the first selling point to consider in case of an upside pullback

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

Potential trade strategy: to sell into rally to 1.0230, target at 1.0100

AUDUSD hourly 9-5-2012

AUDUSD hourly 9-5-2012

S&P500

Resistance at 1415 is still intact but recent dips have been bought, so there’s a good chance that a breakout is just around the corner

SPX daily 9-5-2012

SPX daily 9-5-2012

have a great day!

2 thoughts on “Midweek Charts That Matter

  1. Pingback: EUR: Up Ahead of ECB meeting

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