NFP Day is Here: Charts to End the Week

Good morning. The NFP day is here (consensus is 125k and 7.9% unemployment), so let’s take a look at some of today’s interesting charts

EURUSD

Support at 1.2880/00 is under pressure as EUR failed to recover above $1.300. More losses are likely

Market sentiment: intraday – bearish, short-term – neutral
Potential trade strategy: to sell on breach below 1.2880, target at 1.2800

EURUSD 4hrs 11-2-2012

EURUSD 4hrs 11-2-2012

EURJPY

Resistance around 104.00 is in focus today as the Japanese yen continues to weaken across the board. A breakout trade is rather tempting

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy on break above 103.90/00, target at 105

EURJPY 4hrs 11-2-2012

EURJPY 4hrs 11-2-2012

AUDJPY

83.50 is being tested so AUDJPY is on the breakout watch list.

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to hold long or buy on break above 84, target at 85

AUDJPY daily 11-2-2012

AUDJPY daily 11-2-2012

USDCHF

Fib support zone formed around .9290 held and USD bounced off support, reaching intraday highs at .9360 – on its way to .9385/00. I remain bullish for now

Market sentiment: intraday – bullish, short-term – neutral
Potential trade strategy: to buy on pullback to .9330, target at .9430

USDCHF 4hrs 11-2-2012

USDCHF 4hrs 11-2-2012

NZDUSD

A correction would be nice after the breakout of .8230, providing an opportunity to buy the dip

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy on pullback to .8230, target at .8400

NZDUSD 4hrs 11-2-2012

NZDUSD 4hrs 11-2-2012

EURGBP

Euro’s decline against the British pound continues, and .8000 is under pressure. There’s no clue yet that a bottom is being formed around current trading levels

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

EURGBP 4hrs 11-2-2012

EURGBP 4hrs 11-2-2012

have a great day!

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