Midweek Charts to Watch

Good morning. EUR declined overnight on disappointing Greek aid-talk results.

EURUSD

EUR found temporary support between the two fib lines highlighted in the hourly chart below. However, it’s probably a safer trading plan to look for selling opportunities on rally to $1.2800

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 1.2800, stop above 1.2850, target below 1.2700

EURUSD hourly 11-21-2012

EURUSD hourly 11-21-2012

EURJPY

There’s a good chance that the EUR will keep climbing above 103.50-104 due to yen’s weakness across the board these days.

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy at 104.00, target at 106

EURJPY daily 11-21-2012

EURJPY daily 11-21-2012

NZDJPY

Kiwi dollar keeps pushing to the upside against the Japanese yen, flirting with resistance around 66.70 at time of writing. A breakout is in the cards

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy on rally above 66.90, target at 68.90

NZDJPY daily 11-21-2012

NZDJPY daily 11-21-2012

EURGBP

The euro pulled back against the British pound, testing support around .8000. The most likely scenario that comes to my mind is a breakdown below .8000, hence a selling opportunity

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on breakdown below .8000, target at .7900

EURGBP 4hrs 11-21-2012

EURGBP 4hrs 11-21-2012

have a great day!

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