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
support is easier to spot on the 4hrs chart:
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
hourly chart:
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
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
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
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
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
have a great day
