Monday Charts

Hello. The euro has climbed slowly against the dollar toward the 61.8% of 1.3415-1.2755 at 1.3160.A hint of current recovery was the two daily candles highlighted in my previous post and below. Buying on the breakout above this fib resistance is one thing to consider

Market sentiment: intraday – bullish, short-term – slightly bullish
Potential trade strategy: to buy on break of 1.3150, target at 1.3300, stop below 1.3080

EURUSD daily chart 7-22-2013

EURUSD daily chart 7-22-2013

USDJPY

Dollar continues to recover after testing support around 98, hence upside remains favored for now.

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to hold long at 99, stop below 98.30, target at 101

USDJPY daily chart 7-22-2013

USDJPY daily chart 7-22-2013

AUDCAD

The breakout above .9600 (trendline) turned out to be false as AUD failed to hold above said trendline and is pulling back toward .9500 which is the 1st level of support.

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on breakdown below .9500, stop above .9560, target at .9400

AUDCAD 4hrs chart 7-22-2013

AUDCAD 4hrs chart 7-22-2013

AUDUSD

AUDUSD starts looking interesting as current consolidation seem to come to an end, so keep an eye on the resistance zone above recent daily highs and .9350 as a breakout is in the cards in the coming days

Market sentiment: intraday – neutral, short-term – bearish
Potential trade strategy: to buy on break above .9300, stop below .9230, target at .9500

AUDUSD daily chart 7-22-2013

AUDUSD daily chart 7-22-2013

have a good day

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