Monday Charts

Good morning. Here’s a quick look at some of today’s charts

EURUSD

The euro slipped below 1.300 against the US dollar and the decline is likely to continue, providing a potential opportunity to sell into weak rallies toward resistance at 1.300

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on rally to 1.300, stop above 1.3060, target at 1.2800

EURUSD hourly 5-13-2013

EURUSD hourly 5-13-2013

Daily chart

EURUSD daily 5-13-2013

EURUSD daily 5-13-2013

GBPUSD

Resistance at 1.56 remains intact after few tests and the pound is weakening, aiming toward 1.5240 which is the first important support

Market sentiment: intraday – bearish, short-term – mixed
Potential trade strategy: to sell on rally to 1.5440, stop above 1.5500, target at 1.5240. Secondary plan: to buy dips at 1.5240, stop below 1.5200, target at 1.5360

GBPUSD daily 5-13-2013

GBPUSD daily 5-13-2013

USDCAD

The US dollar is ready for a breakout above interim resistance around 1.0130. In case of minor pullback, 1.0050-80 is where to look for buying opportunities

Market sentiment: intraday – bullish, short-term – slightly bearish
Potential trade strategy: to buy dips at 1.0080, stop below 1.0020, target at 1.0200

USDCAD 4hrs 5-13-2013

USDCAD 4hrs 5-13-2013

USDCHF

Dollar is quite strong against the Swiss franc nowadays, so it’s probably a good idea to look for buying opportunities in case of pullback

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy dips at 0.9480/00, stop below 0.9420, target at 0.9800

USDCHF 4hrs 5-13-2013

USDCHF 4hrs 5-13-2013

have a great day

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