In these matters the only certainty is that nothing is certain. ~ Pliny the Elder
Good morning. Not much happened since yesterday, hence the trading ranges remain narrow. The dollar index holds onto gains above support formed by recent top, while the euro continues to hover around $1.300 in sideways trade.
USD Index
No change of sentiment – dips will likely continue to be bought
USD Index Chart Daily 12-20-2011
EURUSD
While it holds into this narrow range, it’s a good idea to look for opportunities in other pairs. Anyway, if it exists the range to the upside, expect new rounds of selling within the 1.3150-1.3200 region
Euro Vs US Dollar Chart Hourly 12-20-2011
GBPAUD
I remain bullish on GBPAUD, expecting a breakout in the next sessions. Buying on strength above 1.5650 is a plan to consider
British Pound Vs Australian Dollar Chart 4hrs 12-20-2011
USDCAD
still holds below 1.0400 trapped in a range. Short-term momentum remains bullish as long as there is enough buying power in the 1.0250-1.0300 range. Buying on the potential break of resistance at 1.0400 still seems a reasonable plan
US Dollar vs Canadian Dollar Chart 4hrs 12-20-2011
AUDJPY
Selling on the break of 78 a few days ago was a good idea and the same plan to sell below a round number – 77 this time – is a plan to have in mind… just in case downtrend continues.
Australian Dollar Vs Japanese Yen Chart Daily 12-20-2011
AUDNZD
Although support at 1.3050/60 holds but the recovery is not too strong, it’s still a good idea to look for a short opportunity on the potential break of 1.3050
Australian Dollar vs New Zealand Dollar Chart Daily 12-20-2011
Have a great day!
Any Plans of EUR/JPY?
not a top priority these days, paying more attention to other pairs. It seems there's a pre-holidays risk-on rally
Great,
And what about the EUR/USD are you still bearish? The rally seems to be strong enough. Is selling around 3150-3200 still intact.
Second on AUD/JPY we have some recovery here, price is above the whole number 78 now, the area you planed to sell last week, Is it a good idea to sell if price break below 78 again?
Thanks
Pawan
yes I'm bearish on EURUSD, looking to sell around 1.32
Regarding AUDJPY, 77.50 is where I'd like to see it before considering any selling attempt.
Definitely not trying to sell the 'very top'
USDCAD looks quite bearish now that it failed to hold onto gains near 1.0400
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