Nonfarm Payrolls Day is Here 7/6/12

Good morning. The NFP day is here and the euro is under pressure – erasing all post-EU Summit gains. Some breakout trading setups highlighted yesterday look good today, so here’s an update of things that happened since yesterday plus those likely to happen before and after today’s Nonfarm Payrolls

USDCHF

The breakout of interim resistance at .9650 is now valid so next target is .9750. I remain bullish on USDCHF, even if it pulls back to .9650 to test support

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

USDCHF daily 7-6-2012

USDCHF daily 7-6-2012

support is easier to spot on the 4hrs chart:

USDCHF 4hrs 7-6-2012

USDCHF 4hrs 7-6-2012

EURUSD

Euro is again in free-fall mode, after median support of last week’s rally failed to hold. So, June’s bottom is in focus

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

EURUSD 4hrs 7-6-2012

EURUSD 4hrs 7-6-2012

hourly chart:

EURUSD hourly 7-6-2012

EURUSD hourly 7-6-2012

USDJPY

Support formed by the rising trendline held, but the assault on resistance zone is kind of weak

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

USDJPY 4hrs 7-6-2012

USDJPY 4hrs 7-6-2012

NZDUSD

Still in quiet consolidation-mode but a breakout scenario is still in the cards.

Market sentiment: intraday – neutral, short-term – bullish

NZDUSD daily 7-6-2012

NZDUSD daily 7-6-2012

AUDUSD

Pretty much the same story as NZDUSD. Buying dips at 1.0200/15 is probably a good thing to do if correction continues

Market sentiment: intraday – neutral, short-term – bullish

AUDUSD 4hrs 7-6-2012

AUDUSD 4hrs 7-6-2012

AUDNZD

Resistance is still in focus so a breakout is what I’d like to see.

Market sentiment: intraday – neutral, short-term – bullish

AUDNZD 4hrs 7-6-2012

AUDNZD 4hrs 7-6-2012

EURJPY

The decline below support at 99.80 was quite violent. 99 provided temporary support, but it was breached a bit earlier today. I guess it is obvious to anyone that buying EURJPY is not an option

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

EURJPY hourly 7-6-2012

EURJPY hourly 7-6-2012

have a great day

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